The Tropical MBA Podcast - Entrepreneurship, Travel, and Lifestyle

Dissecting the American Dream & Business Lessons from the Elon Musk Bio

Thu, 28 Sep 2023 14:00:00 +0200

Dan & Ian react to a viral article that asks the question: Does the American Dream still make sense in 2023? They point to the internationality of the concept, and muse about how the American Dream is changing and how it’s particularly relevant to digital nomads and founders.

Dan also gives a rundown of the Elon Musk bio and extracts the business lessons he gleaned from the book. Lastly, with DCBKK less than a month away, Dan & Ian reminisce about why they started this event in Bangkok over 10 years ago, and why it’s still worth the trip.

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:

0:03:12 You can find community in different places - hobbies, church, work, or the DC
0:08:04 The reason we went to Asia and not Silicon Valley back in the day
0:10:20 Is Asia the land of opportunity?
0:14:47 Choosing the prestigious career track or the DIY track
0:16:22 What’s going on with DC Black? Our community for 7 & 8-figure founders.
0:21:20 Breakdown of the Elon Musk bio and The Algorithm
0:33:32 Does the American Dream still make sense?

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

Additional episodes you might enjoy:

Moving Back to America… Was it Worth It?
Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits
Millions for Podcasts and Jay Clouse on Memberships

Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits

Thu, 21 Sep 2023 14:00:00 +0200

Join Dan for a wide-ranging conversation with Brian, the Founder and CEO of Reforge, as they dive into critical points in his remarkable journey and gained insights from his experience as the former VP of Growth at Hubspot. Brian has started multiple VC-backed companies and shares his wisdom through detailed essays on growth and user acquisition and in a new podcast, Unsolicited Feedback.

In this episode, they discuss the factors contributing to growth, what it feels like to have product-market fit, and the keys to building a durable business. They also address the unique challenges bootstrapers face when scaling their revenue to the next phase. Brian's valuable insights are essential for any business founder seeking business growth.

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:

0:04:38 Do podcast appearances drive business value?
0:07:38 People follow people, not companies.
0:09:39 What is distribution, and why is it important?
0:10:15 The new distribution playbook
0:17:46 Explaining how the loop concept leads to compounding growth
0:19:36 Know when the buying moments happen and ensure you’re engaging until they do.
0:23:13 How important is founder talent in terms of business success?
0:24:31 Founders need to focus on the 0-1 phase.
0:27:23 “Data can mislead you from customer energy”
0:28:34 Mistakes when trying to unlock the next level of growth0:26:25 Critical customer feedback vs. nice-to-have ideas
0:30:25 That feeling when you find product-market fit
0:38:47 Do you stay or do you grow?
0:39:11 How to build a durable business
0:41:05 Retooling after raising capital
0:42:48 Taking calculated bets on the quest for growth
0:49:46 How to get the most out of on-the-job experience
0:51:28 The best content Brian’s consumed lately

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Millions for Podcasts and Jay Clouse on Memberships
3 Simple Ways to Improve Your Business

The Nomads Dilemma, Anti-Traction Debate, and Summer Highlights

Thu, 14 Sep 2023 14:00:00 +0200

Dan and Ian host a dynamic summer roundup episode, sharing business highlights, dissecting the "nomad's dilemma," and offering their top picks for books and podcasts of the season. Stick around for the latest community news.

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:

0:01:54 How to have relationships back home and abroad
0:03:56 Co-locating makes everything better
0:09:51 The anti-Traction manifesto
0:12:12 How to work ON not IN your business
0:16:57 Having goals is crucial at any size
0:23:24 Why you should get serious about meetings
0:30:51 Having an audience is underpriced
0:34:12 Serendipity is underrated
0:35:21 Creating value for your customers in the long term
0:41:03 A true story about entrepreneurship
0:44:59 Our first DC Black exclusive event has launched
0:45:32 Other Community News

Links:

Additional episodes you might enjoy:

Moving Back to America... Was it Worth It?
Mailbag: What Can Scorecards Do For You? Equity Split Dilemmas
The Money Theory of Location And Why Employee Scorecards Are So Helpful
Deceptively simple ways to have a better business

Lucy Bella Simkins Built a YouTube Channel with 10,000,000 Subscribers

Thu, 07 Sep 2023 14:00:00 +0200

YouTube creator, English teacher, and CEO Lucy Bella Simkins joins Dan on the pod to share some of the behind-the-scenes challenges, strategies, and reflections on turning a passion project into one of the world’s largest language learning YouTube channels and a thriving 7-figure+ business. She also shares the challenges and pitfalls of building an operation of 15 team members capable of turning viewers into customers.

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:

0:00:00 Intro
0:06:32 Nurturing your audience
0:08:02 Growing a course business
0:16:06 The turning point
0:22:44 Maker vs manager
0:43:07 The spreadsheet experiment

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Millions for Podcasts and Jay Clouse on Memberships
3 Simple Ways to Improve Your Business

A Game of Would You Rather ft. Noah Kagan

Thu, 31 Aug 2023 14:00:00 +0200

Summer in Barcelona comes to a close with a game of Would You Rather featuring the CEO of AppSumo, Noah Kagan. Dan challenges him to choose between distributing equity to employees or advisors, investing in “boring” businesses or tech, owning or renting a primary residence, and more.

Dan also poses a question to listeners that’s been on his mind: how long should summer vacations be?

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:

0:00:00 Intro
0:02:23 Sports over 40
0:03:59 Vacation poll
0:08:26 Would You Rather
0:32:37 Community news

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Overrated and Underrated Business Concepts with Noah Kagan
Millions for Podcasts and Jay Clouse on Memberships
The Europe Question

What Got You Here Won’t Get You There

Thu, 24 Aug 2023 14:00:00 +0200

Dan flies solo this week in a 3-part episode where he circles back to a few hot topics that caught some listener’s attention over the last few months.

Back in May, Dan shared insights from a book he read called the 5 Types of People Who Will Ruin Your Life. Today he’s sharing a recent story where this came into play.

He also shares lessons from the best business book he’s read in the past 6 months (of which he reads about 3 each week). And last but not least, he reaches into the mailbag to share a story from a listener about their Mexican Fisherman Moment.

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:

0:00:00 Intro
0:01:44 Too old for basketball
0:04:33 Personality disorders
0:11:07 Leadership
0:24:30 Mexican Fisherman

Links:

Additional episodes you might enjoy:

TMBA 688: Mailbag: What Can Scorecards Do For You? And Equity Split Dilemmas
TMBA 695: The Money Theory of Location And Why Employee Scorecards Are So Helpful
TMBA 707: Deceptively simple ways to have a better business
TMBA 702: Millions for Podcasts and Jay Clouse on Memberships
TMBA 689: Re-visiting Our Conversation with Seth Godin

3 Simple Ways to Improve Your Business

Thu, 17 Aug 2023 14:00:00 +0200

Dan raises the question: if you only had to implement one simple framework to improve your business, what would it be? In other words, what’s your minimum effective dose of operational practices? Sometimes–most of the time–one simple change can make a huge difference.

Today’s guest represents this line of thinking to a T. Lydia Machova talks about the ROI of spending a month implementing one simple idea, developing an integrator/visionary relationship, and the minimum effective dose of operational practices that improved her business.

Lastly, Dan & Lydia talk about how founders often confuse assistance with delegation and how Lydia built an operating system that empowers her team to take ownership, solve problems, and send fewer Slack messages.

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:

0:00:00 Intro
0:02:02 Systems are too complicated
0:04:23 Scorecards, scorecards, scorecards
0:07:20 Delegation vs assistance
0:08:32 DCBKK updates
0:13:42 Becoming an entrepreneur
0:21:48 Perfect integrator
0:27:07 ROI of process
0:37:25 Meeting tempos
0:39:09 Accountability chart
0:42:46 The issues list
0:48:05 Get out from under

Links:

Additional episodes you might enjoy:

Profit vs. Revenue and the Inside Scoop on Events for Founders

Thu, 10 Aug 2023 14:00:00 +0200

Dan and Ian give the inside scoop about their upcoming events strategy and the realization that prompted them to relaunch their hiring search not for an events planner but a business-minded community organizer.

In light of resetting the event strategy for 2024, Dan also chats with the DCx London hosts Seonaid Beckwith, Noel Andrews, and John Ainsworth about how they pulled off one of the best all-time DC events in London last month.

They also give their thoughts in response to a listener's email: should you optimize for revenue growth, profit growth, or both? Dan and Ian share frameworks for thinking about this and how they think about revenue and profit in their business.

Plus, stick around til the end for a first-timer's guide on how to max out your DCBKK experience if you're going (or thinking about going) for the first time.

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:

0:00:00 Intro
0:02:40 Profit vs revenue
0:06:05 Revenue growth to exit
0:06:35 Conflating profit with personal income
0:07:21The Bezos strategy
0:08:19 Profit first
0:12:35 Classic systems
0:14:00 Superhero profitable
0:15:50 ROI framework
0:21:44 Our 2024 event strategy
0:24:18 Join our team
0:30:05 How to throw a great event
1:05:53 First-timer’s guide to DCBKK

Links:

Additional episodes you might enjoy:

TMBA 688: Mailbag: What Can Scorecards Do For You? And Equity Split Dilemmas
TMBA 702: Millions for Podcasts and Jay Clouse on Memberships
TMBA 689: Re-visiting Our Conversation with Seth Godin
TMBA 711: “Money is Your Responsibility” + News Updates
TMBA 707: Deceptively simple ways to have a better business

TMBA 713: How to Build an AI Startup with Jodie Cook

Thu, 03 Aug 2023 14:00:00 +0200

Dan Andrews (https://twitter.com/TropicalMBA) talks to Coachvox.ai founder Jodie Cook (https://twitter.com/jodie_cook) about her methods for building an AI startup from scratch, how to have the most productive and enjoyable month of your life and more. Jodie is full of experience and wisdom, and this was a fun one.

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:

0:00:00 Intro
0:09:42 The Lifestyle Design Game
0:18:29 Being a Change CEO
0:23:47 Building an AI coach
0:28:19 Client Alignment
0:35:16 Team User Manuals
0:40:25 Work & Wellness Holiday
0:45:36 Polarized Travel

Links:

Additional episodes you might enjoy:

TMBA 627: Building an Agency You Can Exit From
TMBA 702: Millions for Podcasts and Jay Clouse on Memberships
TMBA 678: Evolving An Agency, With SaaS Mistakes Along The Way
TMBA 712: Business Partnerships and 6-Figure Launches: A Conversation with Mark Webster
TMBA 707: Deceptively simple ways to have a better business

TMBA 712: Business Partnerships and 6-Figure Launches: A Conversation with Mark Webster

Thu, 27 Jul 2023 14:00:00 +0200

Dan Andrews (https://twitter.com/TropicalMBA) talks to Authority Hacker co-founder Mark Webster (https://twitter.com/markwebster1) about successfully transitioning from an agency model to a multimillion-dollar course business. They talk about navigating 50/50 partnerships, why starting a course business isn’t for everyone, and what you can build with a laptop, a dream, and cheap accommodation.

Dan & Ian’s Stuff:
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

—---
Show Notes:

0:00:00 Intro
0:11:01 The audience is the hard part
0:18:47 The start of authority sites
0:28:52 Becoming business partners
0:35:38 Outgrowing your agency
0:44:59 Getting to 7-figures quickly
0:50:40 50/50 partnership pros & cons
0:56:48 You made it, now what?

—--

Links:

● Authority Hacker: https://www.authorityhacker.com/
● The Ultimate Product Launch Plan: https://videofruit.com/blog/product-launch/
● American Icon: https://www.amazon.com/American-Icon-Mulally-Fight-Company/dp/0307886069

–

–
Additional episodes you might enjoy:

TMBA 706: 5 Things Founders Often Misunderstand about Exiting Their Business
TMBA 702: Millions for Podcasts and Jay Clouse on Memberships
TMBA 695: The Money Theory of Location And Why Employee Scorecards Are So Helpful
TMBA 678: Evolving An Agency, With SaaS Mistakes Along The Way

TMBA 711: "Money is Your Responsibility” + News Updates

Thu, 20 Jul 2023 14:00:00 +0200

Two months ago, Dan & Ian were limited by their lack of visibility into their business finances. They fired their bookkeepers, hired a financial professional, and with their financial house in order, they’re able to agree on top-level strategies and move with speed.

Plus, friend of the pod and financial expert Sam Hill (ecomcfo.co), shares what 7-figure agency owners should be paying for financial services and expertise.

Pull Quote: “It's your responsibility as the owner, period. It's the management's responsibility for the numbers. And if you're not getting what you want from the person that you've hired, whether it's in-house or outsourced, it's your responsibility to fix it.”

TMBA 710: The Wheel of Despair and the Paradox of Growth

Thu, 13 Jul 2023 14:00:00 +0200

Dan and Ian have had hundreds of conversations with founders in 2023 so far. In today’s episode, they share two major challenges that are coming up for 6 and 7+ figure founders. They’re calling these challenges the Wheel of Despair and the Paradox of Growth.

Contrary to what the popular business literature says about overcoming these challenges, Dan and Ian offer some alternative frameworks for how you as the founder can address them.

“The secret is: that is not the question you need to answer. It is: where's the next million in revenue coming from? That is the question that needs to be answered. And I think that's where the bravery, the excitement, and the fear come in. You don't always know, and you’ve got to figure it out. That's your job as a founder.”

TMBA 709: How (Not) to Lose Money with Taylor Pearson

Thu, 06 Jul 2023 14:00:00 +0200

This week’s guest is a TMBA all-timer. Taylor Pearson is an entrepreneur, writer, and co-founder of Mutify Funds. He joins Dan to catch up on what he’s been up to lately, and shares five frameworks he’s adapting in his business after “messing up” over the last two years.

“...like many people, I've sat down and read the business book and thought about the principles of the business and what are important and written them down and had this very nice, you know, Google Doc, with examples of these principles being followed and these principles not being followed. And I have put that Google doc into my nicely organized standard operating folder, and then that Google doc has sat there for months or years without seeing the light of day.”

TMBA 708: The Path to 7-Figure Passive Ownership + We’re Hiring

Thu, 29 Jun 2023 14:00:00 +0200

Today’s guest is one of Dan’s favorite people to talk business with. Justin Tan grew his productized video-editing agency to 7 figures in 2 years and “retired” in 4. Now he helps burnt-out mid-6-figure agency owners become 7-figure passive owners without the 60-hour workweek grind.

Join Dan and Justin as they geek out on the pumpkin plan, the trouble with blindspots, and some common mistakes business owners make.

Justin just so happened to give Dan and Ian some pro bono consulting last summer in Barcelona, so they’ll chat about how that advice is panning out…

Plus, we’re hiring an Events Manager to help us take our global community events to the next level. Head to dynamitejobs.com to apply or refer a friend.

“You keep on promoting people you are familiar with because you like that dynamic. You are familiar with that dynamic. I am their boss, I tell you what to do. But at some point, you need to make that mentality switch. And this goes back to the operator owner where I tell them what to do. Instead, it needs to be they tell me what to do or what is needed, and I am the one who enables them to do that.”

TMBA 707: Deceptively simple ways to have a better business

Thu, 22 Jun 2023 14:00:00 +0200

In today’s episode, Dan talks with agency owner John Ainsworth about how implementing seemingly small, simple changes allowed him to take most of last year off, while his business still grew 30%.

They discuss the modern business philosophies of Traction and Scaling Up and how sometimes those books leave you feeling overwhelmed. Dan’s perspective is that sometimes the biggest ROI comes from the changes that are deceptively simple, maybe even boringly simple.

“People think of traction as a mechanical system that all works together and fits together. So, when you get to the end of the book, you think three things. Number one, I have to do it. Number two, I am definitely a visionary, not an integrator. And number three, I'm guilty relative to the percentage of all this that I've implemented. And so my philosophy is really just take one thing and do it, and your business will be better in the morning.”

TMBA 706: 5 Things Founders Often Misunderstand about Exiting Their Business

Thu, 15 Jun 2023 14:00:00 +0200

Some bootstrapped entrepreneurs are fortunate enough to exit their businesses for life-changing money, but that’s not always the case. Today Dan talks to Einar Vollset, about the key mistakes founders often make when exiting their business.

Einar is the Founder and Managing Partner of Discretion Capital, a Partner at TinySeed, and YCombinator alumni. In his experience, he says that many bootstrapped and startup founders alike often have blindspots that prevent them from having the best exit possible.

“In some cases, bootstrappers end up with basically a stagnating business and one of the main mistakes you can do in terms of m&a is to wait and just let your business stagnate because it really hurts the value of the asset that you have.”

Stick around til the end when Einar shares the 5 things founders often get wrong when exiting their business.

TMBA 705: 6 things we’ve learnt about having good (and bad) business ideas

Thu, 08 Jun 2023 14:00:00 +0200

Today Dan and Ian analyze different frameworks for developing a good business idea, and reflect on how they didn’t always follow their own advice.

They cover 6 idea frameworks: ‘Find a Channel, Not an Idea’, ‘The Classic Entrepreneur’s Venn Diagram’, ‘The Slippery Slope Arbitrage’, “Make it Incredibly Difficult and Pointlessly Complicated’ and ‘Polarize Your Range’.

“You only need to answer one question, which is not do I hustle? Or do I chill? Or do I have the spirit or am I creative enough? It is simply, can I reliably and repeatedly get customers?”

Stick around until the end of the show for a walk with Dan and Ian down the Boulevard of Broken Dreams, aka their domain registrar account.

TMBA 704: Moving Back to America… Was it Worth It?

Thu, 01 Jun 2023 14:00:00 +0200

In what could be a polarizing conversation for the pod, Dan and Ian discuss one of the most popular threads in the TMBA community this year: Is living in America worth it? They address the pros and cons of life in the US vs abroad and challenge the bigger questions about the values that pull some of us back to our home country, and the luxuries that make the digital nomad life so appealing.

We’d love to hear you stand, and what other topics you want to hear on the pod (tweet us @TropicalMBA). We’ll be back next week with our regularly scheduled business programming (we promise).

TMBA 703: Counting Money Is Making Money + High-Conflict Personalities

Thu, 25 May 2023 14:00:00 +0200

Dan and Ian deep dive into the high-conflict personalities that could derail your business and how the role of finance changes as you grow out of one phase of your business and into the next.

Lastly, in a throwback to the early days, Dan shares his latest “travel tips” as he prepares for summer in Europe.

“...a lot of what having a good life is, from my perspective, is not wasting your time, not getting caught up in problems, and avoiding people who could derail your ambitions. Sometimes it's a little bit harder than advertised, because it can be subtle. So having a framework for anticipating it and avoiding it in advance before you get into any kind of problems, I think is extremely powerful.”

TMBA 702: Millions for Podcasts and Jay Clouse on Memberships

Thu, 18 May 2023 14:00:00 +0200

Dan Andrews (@TropicalMBA) talks with Jay Clouse (@jayclouse) about his $400K membership site, becoming a professional creator, and winning CEX Content Entrepreneur of the year.

Jay Clouse, founder of Creator Science, long-time listener, and former guest of the pod is back. In early 2018, Jay joined Dan and Ian on the show to talk about some of the challenges he was facing as an early-stage entrepreneur just eight months into his journey.

Fast forward to today. Five years later. Jay is back to update us on how he went from barely scraping by in 2018 to building a waitlisted community of 200 creators, and being an influential professional creator himself. He also gives Dan some advice on how to be good at Twitter.