Tropical MBA: Entrepreneurship & Founder Lifestyle

Is it possible to bootstrap a high-level business if you’re broke? Listen to Dan & Ian’s take on what kinds of businesses are best to start when you’re starting with basically nothing.
Also, what the hell does a visionary do? Dan suggests that the best visionaries have integrator tendencies.
They’ll consider how Kevin Kelly’s “100 True Fans” can lead to sustainable revenue through a concept called “The Death of the Follower”.
Lastly, Dan pitches a business idea that requires zero startup cost, 3 days a week of effort, and could easily net you $250K.
Dan & Ian’s Stuff:
Our book: Before the Exit (https://www.amazon.com/Before-Exit-Thought-Experiments-Entrepreneurs/dp/1980628823/ref=sr_1_1?crid=3E5PMCCM0TDZ0&dib=eyJ2IjoiMSJ9.GnIb36rltn6NgcjHBCs8zg.waeKvE3zKoAbCt6Adoo5o5vv7M4PDyOj9pMXE7dM82A&dib_tag=se&keywords=before+the+exit+dan+andrews&qid=1711510466&s=books&sprefix=before+the+exit+dan+andrews%2Cstripbooks%2C101&sr=1-1)
The Newsletter (https://tropicalmba.com/subscribe)
“The DC” (https://dynamitecircle.com/join-dc/)
DC Black (https://dynamitecircle.com/dc-black)
Global events (https://dynamitecircle.com/events)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow on Instagram (https://www.instagram.com/tropicalmba/)
@TropicalMBA (https://twitter.com/TropicalMBA)
@AnythingIan (https://twitter.com/AnythingIan)
Chapters
● (00:00:39) Introduction and companies over title’ing
● (00:04:00) Starting a Bootstrap Business When You're Broke
● (00:08:29) The Role of Visionaries in Company Success
● (00:14:55) The Death of the Follower & Engaging with Social Media Algorithms
● (00:19:54) The Future of Search: AI and Personalization
Links:
- Nick Huber Twitter (https://twitter.com/sweatystartup?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor)
- Kevin Kelley - Article - A Thousand True Fans (https://kk.org/thetechnium/1000-true-fans/)
- The Death of the Follower (https://www.youtube.com/watch?v=5zUndMfMInc)
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:
What is the Most Simple OS for <$5M? (https://tropicalmba.com/episodes/most-simple-os)
Do Things That Don’t Scale (https://tropicalmba.com/episodes/things-dont-scale)
Three Phases to 1 Million in Revenue (https://tropicalmba.squarespace.com/config/)

The hard part shouldn’t be how to implement an OS in your organization. The hard part is answering the question: Are the right people in the right roles at your company?
In this episode, Dan and Ian share their own OS that’s extremely simple. It’s called GPS. They’ll explain how GPS helps you put a plan in place to meet your goals, and deliver on that plan. That’s it.
Also, hiring for specific tasks, the impact of remote work on hiring, and more.
Dan & Ian’s Stuff:
Our book: Before the Exit (https://www.amazon.com/Before-Exit-Thought-Experiments-Entrepreneurs/dp/1980628823/ref=sr_1_1?crid=3E5PMCCM0TDZ0&dib=eyJ2IjoiMSJ9.GnIb36rltn6NgcjHBCs8zg.waeKvE3zKoAbCt6Adoo5o5vv7M4PDyOj9pMXE7dM82A&dib_tag=se&keywords=before+the+exit+dan+andrews&qid=1711510466&s=books&sprefix=before+the+exit+dan+andrews%2Cstripbooks%2C101&sr=1-1)
The Newsletter (https://tropicalmba.com/subscribe)
“The DC” (https://dynamitecircle.com/join-dc/)
DC Black (https://dynamitecircle.com/dc-black)
Global events (https://dynamitecircle.com/events)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow on Instagram (https://www.instagram.com/tropicalmba/)
@TropicalMBA (https://twitter.com/TropicalMBA)
@AnythingIan (https://twitter.com/AnythingIan)
Chapters
● (00:00:41) Introduction and 'Meaty Shorts' Format
● (00:06:48) Hiring for Specific Tasks in a Business
● (00:15:55) Minimum Viable EOS (GPS) Implementation
● (00:16:27) Implementing the EOS System: The GPS Framework
● (00:18:54) Using Scorecards for Clarity and Accountability
● (00:25:06) The Importance of Regular Check-ins and Standing Meetings
Links:
- Dan Martell - Who to Hire Next (https://www.danmartell.com/who-to-hire-next/)
- The EOS Business Model (https://www.eosworldwide.com/eos-model)
- Scorecard template (G doc) (https://docs.google.com/document/d/1vJdgiTXIrtnGJB-ywe4goraLyQhp3oHMOCeKHbBOuAY/edit?usp=sharing)
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:
Do Things That Don’t Scale (https://tropicalmba.com/episodes/things-dont-scale)
Three Phases to 1 Million in Revenue (https://tropicalmba.squarespace.com/config/)
Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal (https://tropicalmba.com/episodes/quiet-crypto-difficult-decisions)

In this episode, Ian and Dan discuss the concept of doing things that don't scale, inspired by Paul Graham's influential article 'Do Things That Don't Scale.' They explore the idea of taking risks and gambling in entrepreneurship, and how it relates to increasing one's locus of control. The conversation covers various strategies for founders, including recruiting users manually, building something fragile, delighting users, focusing on experience, and niche marketing. In this conversation, Ian and Dan discuss Paul Graham's article 'Do Things That Don't Scale' and explore the principal themes and takeaways. They cover topics such as the idea of scaling, fabricating products yourself, consulting and acting as an anchor client, going manual and doing unscalable laborious tasks, the illusion of big launches and partnerships, vectors vs. scalars (ideas and execution), and the temptation to gamble and the importance of locus of control.
Our book: Before the Exit (https://www.amazon.com/Before-Exit-Thought-Experiments-Entrepreneurs/dp/1980628823/ref=sr_1_1?crid=3E5PMCCM0TDZ0&dib=eyJ2IjoiMSJ9.GnIb36rltn6NgcjHBCs8zg.waeKvE3zKoAbCt6Adoo5o5vv7M4PDyOj9pMXE7dM82A&dib_tag=se&keywords=before+the+exit+dan+andrews&qid=1711510466&s=books&sprefix=before+the+exit+dan+andrews%2Cstripbooks%2C101&sr=1-1)
The Newsletter (https://tropicalmba.com/subscribe)
“The DC” (https://dynamitecircle.com/join-dc/)
DC Black (https://dynamitecircle.com/dc-black)
Global events (https://dynamitecircle.com/events)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow on Instagram (https://www.instagram.com/tropicalmba/)
@TropicalMBA (https://twitter.com/TropicalMBA)
@AnythingIan (https://twitter.com/AnythingIan)
Chapters
● (00:00:47) Introduction and Waking Up Early
● (00:01:58) The Concept of Taking Risks and Gambling
● (00:03:52) Introduction to Paul Graham and Y Combinator
● (00:05:37) The Importance of Doing Things That Don't Scale
● (00:10:00) Recruiting Users Manually
● (00:12:48) Building Something Fragile
● (00:20:48) Niche Marketing
● (00:23:02) The Facebook and the Idea of Scaling
● (00:24:53) Consulting and Acting as an Anchor Client
● (00:27:17) Going Manual and Doing Unscalable Laborious Tasks
● (00:30:08) The Illusion of Big Launches and Partnerships
● (00:34:54) Vectors vs. Scalars: Ideas and Execution
● (00:38:36) The Temptation to Gamble and the Importance of Locus of Control
Links:
- Paul Graham’s Article “Do Things That Don’t Scale” (https://paulgraham.com/ds.html)
- Lao Tzu - Philosophy (https://plato.stanford.edu/entries/laozi/)
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:
Three Phases to 1 Million in Revenue (https://tropicalmba.squarespace.com/config/)
Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal (https://tropicalmba.com/episodes/quiet-crypto-difficult-decisions)
“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree (https://tropicalmba.com/episodes/3-million-death-zone)

Dan and Ian discuss the different phases of bootstrapping a business and the common challenges that arise at each stage. They walk through three phases: Zero to $250k “Mindset”; $250k to 1 million "We're seeking a reliable/repeatable source of new customers"; and $1 million + "We need to hire, fire, improve/change team members more effectively”. They explore everything from adjusting the offer to the marketplace and developing a strong customer base to making a rule that the founder should be responsible for growth up to $5M.
They also explore the crucial role that team composition plays in the professionalization of the company. Finally, they discuss the decision between maximizing profitability and scaling the business.
Dan & Ian’s Stuff:
Our book: Before the Exit (https://www.amazon.com/Before-Exit-Thought-Experiments-Entrepreneurs/dp/1980628823/ref=sr_1_1?crid=3E5PMCCM0TDZ0&dib=eyJ2IjoiMSJ9.GnIb36rltn6NgcjHBCs8zg.waeKvE3zKoAbCt6Adoo5o5vv7M4PDyOj9pMXE7dM82A&dib_tag=se&keywords=before+the+exit+dan+andrews&qid=1711510466&s=books&sprefix=before+the+exit+dan+andrews%2Cstripbooks%2C101&sr=1-1)
The Newsletter (https://tropicalmba.com/subscribe)
“The DC” (https://dynamitecircle.com/join-dc/)
DC Black (https://dynamitecircle.com/dc-black)
Global events (https://dynamitecircle.com/events)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow on Instagram (https://www.instagram.com/tropicalmba/)
@TropicalMBA (https://twitter.com/TropicalMBA)
@AnythingIan (https://twitter.com/AnythingIan)
Chapters
● (00:00:43) Introduction and Era Change
● (00:04:28) Mindset for Early Stage Bootstrapping
● (00:08:35) Running a Shit Ton of Experiments
● (00:19:34) Customer Development and Adjusting the Offer
● (00:23:37) Founder's Responsibility for Growth
● (00:24:28) Founder's Role in Growth Until $5 Million
● (00:25:29) Following Strategies That Work for the Majority
● (00:26:41) Celebrating the Achievement of $1 Million in Revenue
● (00:29:18) Transitioning from $1 Million to $5 Million
● (00:34:07) The Importance of Team Composition
● (00:34:22) Shifting Focus to Managing a Team
● (00:39:19) Maximizing Profitability vs. Scaling
Links:
Simple Numbers by Greg Crabtree (https://www.amazon.com/Simple-Numbers-Straight-Talk-Profits/dp/1608320561)
Exploitative Play in Live Poker (https://www.amazon.com/Exploitative-Play-Live-Poker-Manipulate/dp/1909457922)
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:
Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal (https://tropicalmba.com/episodes/quiet-crypto-difficult-decisions)
“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree (https://tropicalmba.com/episodes/3-million-death-zone)
A Podcast About Shiny Object Syndrome (https://tropicalmba.com/episodes/shiny-object-syndrome)

Dan talks to Jordan Gal, founder of Rally and co-host of the Bootsrapped Web podcast about challenges in the ecommerce space, product-market fit and demand, partnerships and veto power, the quietness of crypto, risking other people’s money, and more…
There’s one thing that founders tend to really struggle with when it comes to growing their business and that’s getting the right team in place. Listen as Jordan shows Dan how and why he fires unfit team members.
Dan & Ian’s Stuff:
The Newsletter (https://tropicalmba.com/subscribe)
“The DC” (https://dynamitecircle.com/join-dc/)
DC Black (https://dynamitecircle.com/dc-black)
Global events (https://dynamitecircle.com/events)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow on Instagram (https://www.instagram.com/tropicalmba/)
@TropicalMBA (https://twitter.com/TropicalMBA)
@AnythingIan (https://twitter.com/AnythingIan)
Chapters
(00:04:22) News Update
(00:05:58) From Player to Coach
(00:06:50) Jack Welch
(00:12:10) Bootstrapping vs Raising Money
(00:15:52) Product-Market Fit and Adjustments
(00:18:57) Partnerships and Veto Power
(00:20:42) Deciding When to Pivot
(00:36:27) Firing and Personnel Decisions
(00:43:30) The Quietness of Crypto
(00:48:05) Challenges in E-commerce
(00:57:30) Impact of Having a Family
Links:
Bootsrapped Web podcast (https://bootstrappedweb.com/)
Jordan on Twitter (https://twitter.com/JordanGal)
Rally (https://rallyon.com/)
Winning (https://www.amazon.com/Winning-Jack-Welch/dp/0060753943/ref=asc_df_0060753943/?tag=hyprod-20&linkCode=df0&hvadid=312243616995&hvpos=&hvnetw=g&hvrand=11970474335439880872&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9007527&hvtargid=pla-450103671560&psc=1&mcid=a2b7a51b49653a50bccb79bc40fad30e&gclid=CjwKCAjw7-SvBhB6EiwAwYdCAdfAqSQ363qg9bY5hlyYGlv0cq2jEW-yDnybdlYnB8VXaJLA1SiDbBoCpEAQAvD_BwE)
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:
A Shopify Software Business Success Story (Jordan Gal) (https://tropicalmba.com/episodes/jordan-gal-carthook-shopify)
How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway (https://tropicalmba.com/episodes/transparent-queen-bee-role)
A Podcast About Shiny Object Syndrome (https://tropicalmba.com/episodes/shiny-object-syndrome)