Tropical MBA: Entrepreneurship & Founder Lifestyle

In this episode, the hosts discuss shiny object syndrome and share success stories from listeners. They explore how societal shifts can lead to successful business ideas. Plus, they invite listeners to join the TMBA team. Topics also include regrets of selling businesses, roles in bootstrapped companies, and navigating challenges in the business world.

The hosts discuss the challenges of shiny object syndrome for entrepreneurs, and offer six strategies for tackling it. They also explore the skill of going zero-to-one to grow a business and the benefits of focusing on one thing. Other topics include connecting with other founders, DC Black membership, Playa del Carmen experiences, and simplification for business success.

Tom Kent shares his roadmap for turning a skill into a 1M+ productized service business. Topics include personal branding, scaling LinkedIn lead generation, sales process for high-dollar products, building a sales team, and identifying a niche market. They also discuss the importance of finding a unique opportunity, focus and accountability in coaching businesses, networking, systematizing processes, and living abroad.

Vince Nguyen, a successful solo-agency owner, shares his hacks for running a solo-agency and improving Facebook Ads. Dan and Ian discuss operating on a profit-first system, finding/connecting with customers, and hiring remote talent. They also talk about using WhatsApp for business communication and the power of listening to client feedback in advertising.

Dan interviews business author and entrepreneur Mike Michalowicz, discussing the power of prioritizing profit and specialization to scale effectively. They explore the three horsemen that keep businesses from breakthrough and the importance of finding and mastering the core function in a business. Mike also shares insights on founder trust issues and the benefits of taking a four-week vacation for personal rejuvenation and giving the business a break.

Noah Kagan, CEO of AppSumo, shares insights on operating an 8-figure business and offers guidance on leadership, goal-setting, and personal growth. The importance of core documents in a business, giving employees autonomy, and continuous improvement are also discussed.

In this podcast, Dan and Ian discuss the importance of revenue durability and investing profits to build business durability. They also share tips on how to improve the quality of meetings for higher productivity and higher yield. Additionally, they explore the concept of setting SMART goals and common blind spots for founders. The podcast also delves into the topic of creating revenue durability and building business moats, as well as benchmarking durability and improving cash flow.

Discover a strategic approach to decision-making intervals for top-line revenue and personal income goals. Unveiling the inner workings of quarterly reviews, the hosts address financial viability, team members' scorecards, and the importance of passion and curiosity in business growth. Learn about setting goals, evaluating progress, and reviewing financial, personal, and business goals through quarterly reviews.

Can you make a life-changing decision based on assumptions you pulled off the internet? This question and many others are answered in today’s fascinating interview with two of Dan’s mentors and longtime friends. They recently exited one of their businesses (they’re still running the other!) for 8-figures, and they share the details of their process from deciding to sell, preparing for the sale, vetting acquirers, and what happens after. Hear how they spun up another business on the side and are maintaining the cash flow from that as they sit on the cash pile from the sale. But perhaps their biggest accomplishment is raising three thoughtful, curious kids while running their two incredible businesses and living all over the world in places like Bali, Costa Rica, Spain, and more. Dan & Ian’s Stuff: The Newsletter “The DC” DC Black Global events Hire remote talent Find a remote job Listen on YouTube Follow on Instagram @TropicalMBA @AnythingIan Show Notes (00:00:42) Intro (00:03:03) Revisiting the 1,000 day principle and questioning the 3,000 day principle (00:03:52) Career milestones in entrepreneurship (00:09:18) Maintaining pricing power in a productized service (00:10:24) Setting financial goals and getting real with personal expenses (00:16:36) Retirement planning with financial planners (00:19:05) Selling a business: approach to sales process (00:21:48) Selling a business: acquisition process and unexpected offer (00:28:59) Selling a business: legal and financial aspects (00:34:46) Selling a business: emotions and negotiation process (00:37:10) Scaling a new business and selling a golden egg (00:44:05) Parenting, wealth, and financial priorities (00:46:06) Raising entrepreneurial children Links: DC Mexico tickets Greenback Tax Service Cleer.tax 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, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan. Additional episodes you might enjoy: #733 End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown #618 Exploring Alternative Education Options for Nomadic Families #565 The Origins of the 1,000 Day Principle

In this podcast, Dan & Ian reflect on their business in 2023 and share favorite moments. They discuss how to make a compelling offer, non-obvious ways to grow your business in 2024, and why goal setting should go beyond numbers. They also talk about top business books, viral tweets, acquiring undervalued platforms, and using conversation cards to connect with clients.