Tropical MBA: Entrepreneurship & Founder Lifestyle

http://www.tropicalmba.com/40percentrule/ If you've been listening to this podcast for a while, you would know that one of the major motivations for Dan and Ian in life is creating the freedom to live life on your own terms. That freedom can mean a lot of different things to a lot of different people. On recent episodes, we have spoken about how entrepreneurship shares a lot in common with the FIRE (Financially Independent, Retire Early) community. One of the tenents of FIRE philosophy is The 4% Rule, which is the practice of saving and investing enough money that it will allow you to withdraw 4% of that income every year to live off of.  In order for that rule to work, though, you would need to save 1 million dollars to live on a modest income of $40,000 annually. That can be a tall order for people who are on a small salary. Enter Jase Rodley. Jase recently wrote a piece called The 40% Rule, which addresses this idea head-on. The 40% Rule is an investment strategy that allows people to concentrate on returns from modest investments, while still allowing themselves to "stay in the game". On today's episode, Jase discusses The 40% Rule, the business that he is currently building, and how his experience with that business has informed his investment strategies.

http://www.tropicalmba.com/costofbootstrapping/ Today we are examining a discussion that Dan and Ian have been having behind the scenes of this podcast for years. These conversations revolve around a question that everyone who is considering an entrepreneurial lifestyle needs to hear: What are the real costs of bootstrapping a business? The truth is that it is often much more expensive and complicated than writers and "thought leaders" let on. It can steal so much of our time, our opportunities for relationships, and sometimes our own well being. Justin Jackson knows this better than most. Justin is a well-known podcaster with a track record of shows like Product People, Build Your SaaS, and MegaMaker. He has also recently launched an integrated podcast service called Transistor.fm. Justin has been addressing some of these more "taboo" entrepreneurial concepts on his blog. A recent piece called The Bootstrapper's Paradox addresses some of the hidden costs of bootstrapping. On today's episode, Justin shares his thoughts on those hidden costs. He also challenges some of the narratives that legendary figures in the movement have built around themselves and opens up about his own struggles with mental health as an entrepreneur.

http://www.tropicalmba.com/stateofbitcoin/ Dan and Ian have spoken about cryptocurrencies before, and they have certainly been a divisive topic among the listeners of this show. The fact is that cryptocurrencies aren't going away. If you're interested in your financial future and really want to understand the nature of these markets and how to manipulate them, this episode is for you. We've invited our friend Taylor Pearson back to the show this week to talk about a recent article he wrote called The State of Bitcoin. On today's podcast, Taylor shares his thoughts on how cryptocurrencies essentially differ from other forms of investment, how to distinguish hype from opportunity, and why the "Bitcoin backlash" is happening.

http://www.tropicalmba.com/fivereasons/ Dan and Ian have been around the block a few times, and in that time they have seen many entrepreneurs come and go. What many don't understand is that the majority of entrepreneurial success stories don't happen overnight. Nearly every sustainable path to wealth and freedom is a journey that can take years, and often decades to achieve This week's episode is a list of the five common reasons that entrepreneurs will give up on their journey. If you identify with any of the reasons we mention on today's podcast, fear not. You can use the knowledge and information we share on this show to help you get over your obstacles and further sustain your journey as an entrepreneur.

http://www.tropicalmba.com/tomsawyer/ A few weeks ago, Dan and Ian published an episode of this podcast about The Peter Principle, which is the idea that everyone will more or less rise to the level of their own incompetence. Today, we are talking about a different principle. This one comes from a great 19th century book, The Adventures of Tom Sawyer by Mark Twain. This episode begins with an excerpt from the book, where Tom is forced to paint a fence and convinces others to help him, eventually tricking them into painting the fence themselves. On today's show, we're sharing our thoughts on how entrepreneurs can use this same philosophy to lead a great team without working in their business day-to-day. We'll also be talking about the progress we've made with our new business venture - Dynamite Jobs, and why many entrepreneurs spend so much time focusing on top-line revenue rather than profits.

http://www.tropicalmba.com/businessideasredux/ One of Dan and Ian 's favorite topics to discuss on this show is business ideas. In particular, they love brainstorming new business ideas with the listeners of this podcast. Coming up with a great business idea doesn't come naturally for all of us, though we believe it really is a skill that you can learn and get better at. Today, we are talking about the science behind a great business idea. In particular, we are sharing five techniques that you can use to develop your own business idea. We'll also be revisiting some of the business ideas that we came up with on an earlier episode of this show from 2015.

http://www.tropicalmba.com/riseaudiobooks/ Every week, for over 450 episodes, Dan and Ian talk on this podcast about business, entrepreneurship, and location independence. They do so because they love creating and consuming audio content. It's no wonder then that when Dan finally wrote his first book, Before the Exit, he was naturally very passionate about creating a narrated audiobook version. On today's podcast, we are talking about audiobooks. In particular, we'll be talking about how we recorded our first audiobook, as well as sharing some of the most popular highlighted passages in that book. You'll also hear how audiobooks have made an impression on us, and why we think audiobooks are becoming so popular in 2018.  As a special bonus, listen in to find out how you could be the recipient of a very unique gift. 

http://www.tropicalmba.com/citywhisper/ Dan and Ian have spent many hours on this show talking about location and in particular the cities that location-independent entrepreneurs choose to live in. A little while ago, Dan read an article called Cities and Ambition by Paul Graham which theorizes that the cities we visit actually send signals to us in a variety of unspoken ways. Afterward, he felt compelled to write a blog post about the ways that certain cities "whisper" to us. On today's episode, you will hear that blog post, as well as some thoughts and reflections on some of our favorite cities. We'll be sharing what we love about those cities, why we can't stop visiting them, and what each of those cities has been "whispering" to us.

http://www.tropicalmba.com/millennialrevolution/ http://www.tropicalmba.com/millennialrevolution/ Podcast 56:28 | Download | Stitcher | iTunes | Comment This week, Dan and Ian are talking about the very first step to creating a lifestyle business. Contrary to popular belief, that is not quitting your job or coming up with a business idea. It begins with your personal finances. We’re talking about treating your bank account,...

http://www.tropicalmba.com/mastermindthoughts/ On today's podcast, Dan and Ian are talking about one of the most critical elements to their own success in business: masterminds. We've talked about the importance of masterminds before on this podcast, but we believe it is an issue worth addressing again because we have seen the benefits that entrepreneurs can achieve from them firsthand. When taken advantage of correctly, the value of a great mastermind cannot be understated, and masterminds have played a vital role in the business journey of this week's guest. Ryan Heneise is the founder of Booster Stage, an agency that does web app development for startups. Ryan was a guest at our recent event in Austin, Texas and took part in his first official mastermind. On this week's episode, you'll hear from Ryan about how that event unfolded, and the benefits that he has seen from attending that mastermind. You'll also hear tips on how to get the most out of a mastermind, and how to create a successful mastermind yourself.