Tropical MBA: Entrepreneurship & Founder Lifestyle

#747 Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

Mar 21, 2024

Exploring challenges in ecommerce, product-market fit, and demand with Jordan Gal. Insights on partnerships, crypto quietness, firing team members, and family impact on business. Discusses firing unfit team members and the struggles of raising money vs bootstrapping. Highlights the importance of understanding customer demand and making difficult decisions in entrepreneurship.

01:01:17

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Episode guests

Jordan Gal

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Episode notes

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Quick takeaways

Crypto is a game-changer for capital formation, despite frustrations.

Rally excels in boosting e-commerce performance with strategic checkouts.

Transparent partnerships and swift decisions are crucial for business success.

Deep dives

The Frustration and Obvious Potential of Crypto

Despite feeling frustrated about crypto, the speaker acknowledges it as a potential game-changer for capital formation, expressing the view that it's the greatest means of putting capital together. While not revealing the title of their book immediately, the speaker emphasizes the relevance of the concept to the crypto discussion.

Evolving Teams Methodology

02:11

Pivoting to Success

00:58

The Power of Payment Processing in E-Commerce

01:23

Fostering a Transparent Environment for Employee Management

01:21

Introduction

2min

Exploring Capital Opportunities and Collaborative Ventures

2min

Announcements, Scholarships, and Community Support in Entrepreneurship

2min

Navigating Tough Decisions in Business and Leadership

23min

Navigating Entrepreneurial Challenges: Customer Demand, Partnerships, and Decision-Making

10min

Navigating Employee Termination Procedures and Business Progression

3min

Navigating Termination Feedback and Crypto Evolution

16min

The Influence of Family on Business and Fulfillment

3min

Dan talks to Jordan Gal, founder of Rally and co-host of the Bootsrapped Web podcast about challenges in the ecommerce space, product-market fit and demand, partnerships and veto power, the quietness of crypto, risking other people’s money, and more…

There’s one thing that founders tend to really struggle with when it comes to growing their business and that’s getting the right team in place. Listen as Jordan shows Dan how and why he fires unfit team members.

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@AnythingIan

Chapters

(00:04:22) News Update
(00:05:58) From Player to Coach
(00:06:50) Jack Welch
(00:12:10) Bootstrapping vs Raising Money
(00:15:52) Product-Market Fit and Adjustments
(00:18:57) Partnerships and Veto Power
(00:20:42) Deciding When to Pivot
(00:36:27) Firing and Personnel Decisions
(00:43:30) The Quietness of Crypto
(00:48:05) Challenges in E-commerce
(00:57:30) Impact of Having a Family

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

A Shopify Software Business Success Story (Jordan Gal)

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

A Podcast About Shiny Object Syndrome