Tropical MBA: Entrepreneurship & Founder Lifestyle Dan Andrews; Ian Schoen

Dan and Ian explore the concept of power in business and how businesses can transition from being a grind for the owner to having sustainable pricing power.


Derived from the book 'Seven Powers' by Hamilton Helmer, they delve into the idea of cornered resources as a source of power and discuss examples of cornered resources such as patents, unique brain trust, and exclusive partnerships.


You’ll be challenged to consider how you can identify and leverage counter positioning, networked effects, distribution, and brand to sustain margins and pricing power over time.


This is an essential conversation for building and maintaining a competitive advantage in any industry.


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


Chapters
● (00:01:07) Understanding Business Power and Transitioning Camps
● (00:09:44) The Importance of Cornered Resources in Business
● (00:19:59) Leveraging Distribution as a Source of Power
● (00:36:03) Unleashing the Power of Brand


Links:



The 7 Powers: The Foundation of Business Strategy


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:


How Healthy is Your Business?


The Million Dollar Service Business Playbook


Run Any Business with Just Two Simple Things

Dan and Ian challenge listeners to answer five questions about your business that will help you evaluate how healthy your operations are.


They cover everything from doubling down on what’s working best to effective resource allocation and working “on” your business instead of “in” your business.


You’ll also be challenged to ask yourself: “What would a skilled entrepreneur do with my business?”


Take out your pens and notepad (very important), and consider this episode a free coaching session and a little taste of DC Accelerator.


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


Chapters
● (00:00:33) Working on Your Business vs. in Your Business
● (00:02:32) Evaluating Your Team's Value Creation
● (00:17:17) Doubling Down on What's Working Best
● (00:19:35) Maximizing Return on Investment
● (00:21:53) Effective Resource Allocation
● (00:27:22) Unprecedented Growth: What Would a Skilled Entrepreneur Do?
● (00:36:24) Evaluating and Refining Your Business with Diagnostic Questions


Links:



30 Business Diagnostic Questions
Kaco Gel Pens
Artist Sketchbook
Simple Numbers by Greg Crabtree


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:


The Million Dollar Service Business Playbook


Run Any Business with Just Two Simple Things


Mastering Consistency with Adam Gilbert

In this week's episode Dan and Ian discuss the importance of the concept of Labor Efficiency Ratio (LER), to scale your business to a million dollars in revenue.


They highlight the challenge of transitioning from being a craftsperson to a CEO and the importance of building a profitable business model that can operate without the founder's constant involvement.


They continue this concept by focusing on the importance of financial planning and analysis (FP&A) in growing a business.
Having someone to provide structure and make data-driven decisions can lead to some shocking discoveries and help you identify areas for improvement and optimize your business performance.
The conversation concludes with a recap of the DC Mexico event and a call for referrals for future events!


Dan & Ian’s Stuff:


Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan


Chapters
● (00:00:42) Introduction and Catching Up
● (00:01:40) DC Accelerator and Financial Planning and Analysis (FP&A)
● (00:07:28) Using Labor Efficiency Ratio (LER) to Scale
● (00:14:49) The Challenge of Transitioning from Craftsperson to CEO
● (00:21:50) The Importance of Profitability and Compensation
● (00:25:06) Building a Profitable Business Model
● (00:28:19) The Role of Hiring and Financial Planning and Analysis
● (00:29:20) Differentiating Financial Planning and Analysis from Bookkeeping and CPA
● (00:40:05) Recap of the DC Mexico Event


Links:



Books by Greg Crabtree


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:


Run Any Business with Just Two Simple Things


Mastering Consistency with Adam Gilbert


Lessons From an 18-Month Trip Around the World on $100 a Day

Dan reflects on his trip to Mexico last week where he hung out with 200 founders and listeners of the pod.
Vulnerability, lessons from exiting a business, and a secretive membership called “being parents” were common themes.
Another major topic was the launch of our new coaching program, DC Accelerator. Dan talks about how getting to $1M and beyond takes not just willpower or desire, but most importantly, it takes discipline.
He shares the two tools required to run a business of any size. Whether you’re a 1-person operation of have 1000’s of employees, these two tools remain the same.


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


Chapters
● (00:00:48) Introduction and Simplifying Operations
● (00:04:54) The Transformative Journey of Parenthood
● (00:07:09) Vulnerability and Exiting a Business
● (00:15:37) The Nuts and Bolts of Our Coaching Program
● (00:22:35) Every Business Needs a Cashflow Forecast and a Plan


Links:
DC Accelerator


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:


Mastering Consistency with Adam Gilbert
Lessons From an 18-Month Trip Around the World on $100 a Day
The 1 Million Dollar Question

Health and wellness is the ultimate productivity hack, impacting every aspect of life.


Adam Gilbert, founder of My Body Tutor, discovered that consistency is key, and accountability, mindset, and personalized plans help clients stay on track. It’s also what sets his business apart.


My Body Tutor has been generating demand for their service for 17 years, having a flawless reputation, and obsessively focusing on getting clients results.


In this episode Adam shares his strategies for pricing demand, how to handle client churn, and balancing family life with his passion.


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


Chapters
● (00:06:29) The Impact of Health and Wellness
● (00:12:10) The Importance of Consistency
● (00:16:57) Evolving Pricing Based on Value
● (00:28:39) Recruiting, Training, and Retaining Coaches
● (00:33:10) The Importance of Regular Meetings
● (00:44:17) Caring and Mission-Driven Approach
● (00:45:30) Starting Small in Entrepreneurship


Links:



https://www.mybodytutor.com/


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:


Lessons From an 18-Month Trip Around the World on $100 a Day


The 1 Million Dollar Question


“The Death of the follower” + Make 250k in 3 Days a Week

This week we had the pleasure of sitting down with Barry O'Brien, a global traveler, as he shares his 18-month journey to 15 countries on just $100 a day or less.


Barry tells us stories about his experience in Vietnam, the most surprisingly underwhelming destination he visited, the most expensive and inexpensive destinations, how he saved, prepared, and what he learned in the end.


He discusses his journey from following Dave Ramsey's steps to discovering the FIRE movement and combining the principles of both to pay off $51,000 of debt, and give him the financial freedom to pursue his dream trip.


He talks about the importance of passive income, his philosophy of focusing on one thing that you can do well, the process of obtaining US citizenship, and the challenges and opportunities it presents.


Dan & Ian’s Stuff:


Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan


Chapters:



(00:03:21) Your Ticket to One Million - DC Accelerator
(00:14:59) Exploring Western Europe on a Budget
(00:26:13) Indulging in Peru's Food and Culture
(00:30:15) Managing Travel Costs to Extend the Trip
(00:34:41) Finding Peace and Financial Independence
(00:39:10) The Competitive Landscape of US Citizenship


Links:



DC Accelerator
DC Black
Dave Ramsey Solutions


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:


The 1 Million Dollar Question


“The Death of the follower” + Make 250k in 3 Days a Week


What is the Most Simple OS for $5M?