Tropical MBA: Entrepreneurship & Founder Lifestyle

Heya everyone– I gotta say I feel I am SUPER qualified to talk about stuff that you shouldn’t do in your business. I’ve made a million mistakes, and some of the stuff we bring up in this episode is so damn tricky for me I still can’t get it right. I had a great time in Palawan this weekend– WOW what a place to visit, so quiet, so much to see and do and although there isn’t much of a tourism industry, its still very easy to make your way around. More on that on the next episode!

Part of the reason Ian and I love Gary Vee so much is that he talks about some basic business fundamentals that don’t get brought up by many online business gurus. The two biggest things that have made us money? Hustle, and getting on the damn phone. <—- watch this awesome Gary Vee cold call video. This episode is about the dirty side of building a lifestyle business– we bring up 5 more “alternative” principles that have helped us to get our business off the ground that you aren’t going to hear from the gurus. I briefly touch on an issue I want to flesh out a bit more in future episodes– “cost free travel.” I hate when my peanut brain tries to drag me in to an office in order to be productive or make some money. I want to be on planes, boats, and buses to exotic locations to meet with awesome people AND be making money while I’m doing it. I had an experience this weekend that makes me believe I’m getting there, more on that soon…. After that, we dedicate a full 7 minutes plus to Ian’s first run at a used car guide. For many entrepreneurs, transport makes up WAY TO MUCH of your yearly budget, and Ian is an absolute ninja at keeping those costs in line. If you are a car owner, we are hoping his guide to budget used car buying can be of some use. Enjoy! Get in touch if you have any questions on comments for the next Episode!

Dan and Ian discuss a post by Jason L. Baptiste of Cloudomatic made on Hacker News on how to be a millionaire in three years (or a really short time). They talk extensively about six out of the thirty seven tips from Jason’s post, such as leveraging skills you already know. In this new format, they also answer two reader questions: choosing a niche that makes money, and how to go about purchasing a laptop. (Dan’s Tip: Buy a Mac).

Dan and Ian talk about how they built a site that generates $6000 in revenue in five months and some great tips on niche selection. They also discuss why it’s important to have a phone number on your site, a great service to sell products, and a rant on the limitations of Quickbooks.

Dan and Ian discuss why you should become an expert in your industry, and ways you can become one. They also talk the importance of networking, and how being a part of a mastermind group will give you that social network, but also a support system. A critical part of an entrepreneurship. They also mention a couple of clever Gmail hacks, two SEO tips, and one file sharing software that has made their business easier.

Dan and Ian talk about how they manage their finances, the challenges of an LLC and how to hypothetically minimize your tax burden. Dan also briefly discusses three software tips while waxing on his new MacBook, while Ian reveals one program that could potentially change their business.

Dan and Sean talk about the importance of getting to know your team, old school marketing tips that will really get you to hustle, as well as Sean’s experience on the Tropical MBA and his first impression of the Philippines.

Dan and Tyrone Shum discuss how to build a membership site, how to execute a successful pre-launch, and how to cultivate online relationships with other entrepreneurs.

A housekeeping episode where Ian and I talk about the future of this show and how our business is evolving around it. Its a good one for you folks who have been around a while!