Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan and Ian talk to 100s of listeners a year via 1:1 coaching. In this episode they distill those calls into 4 breakthrough ideas that can change your quarter for the better.
Newsletter subscribers will get our GPS (Goals/Plans/Systems) worksheet. Sign up for the newsletter. (https://tropicalmba.com/subscribe)
Takeaways
● Be sure you pack enough underwear for your next trip abroad.
● Getting aligned on goals is easy, but aligning on plans is hard.
● Hiring should be based on unique business needs, not generic roles.
● Confidence is essential for entrepreneurs, especially in challenging times.
● Discipline in financial management is crucial for sustainable growth.
● Regularly reviewing financials helps maintain business health.
● Accountability in coaching can drive significant progress.
● Sacrifices are often necessary to achieve business goals.
● Effective hiring requires a clear understanding of ROI.
● Facing reality and challenges can build confidence.
● Entrepreneurship allows for a lifestyle designed by personal choice.
In honor of traveling to DCBKK this week, here’s Dan’s original packing list (https://tropicalmba.com/articles/digital-nomad-packing-lis/) from 2010. And an updated list (https://tropicalmba.com/episodes/packing) in 2015. Is it time for a new list?
Chapters
- (00:00:59) Dan’s Packing List Ahead of DCBKK
- (00:02:28) 4 Breakthroughs From Our Coaching Calls
- (00:05:20) The Importance of Goal Alignment
- (00:09:54) Hiring for Unique Situations
- (00:16:36) Good Confidence vs Bad Confidence
- (00:21:03) Discipline in Entrepreneurship
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.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:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)

Dan considers why many of us are resistant to a certain type of business idea even when it’s been proved time and time again.
He’ll also explore that often what stands between your business and positive change is some structured thinking.
Lastly, we’ll hear from a listener who’s working to take his lifestyle brand to $1M and what his plans are to get there.
Featured in this episode:
Founder Robby McClung of the McClumsy (https://mcclumsy.com/?srsltid=AfmBOoovUif485xIc7NQ559s51c7sWaSSF_z4jDBNR4eGd0yub7TWUmA) lifestyle brand.
This week’s episode brought to you by Smash Digital (https://smashdigital.com/). They’ll build you a scalable SEO growth strategy to earn the juiciest high-authority backlinks on earth. No, really.
Useful links:
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow us on Instagram (https://www.instagram.com/tropicalmba/)
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:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)

Dan paid big money for a business coach who only gave him one piece of advice. Listen to the episode to find out what it was and if it worked.
Connect with us:
Dan: @TropicalMBA (https://twitter.com/TropicalMBA) or dan@tropicalmba.com
Ian: @AnythingIa (https://twitter.com/AnythingIan)n or ian@tropicalmba.com
Chapters
(00:00:22) The Perfect Storm for Entrepreneurs
(00:03:41) Introducing the System
(00:05:37) Implementing the System in Your Business
(00:06:50) Defining Roles and Outcomes
(00:09:51) The Hiring Process Revolutionized
(00:11:01) Performance Conversations and Team Dynamics
(00:12:53) Leveraging the System for Business Growth
(00:16:37) Recap and Final Thoughts
Useful links:
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow us on Instagram (https://www.instagram.com/tropicalmba/)
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:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“Lifestyle Business” vs “Real Business” (https://tropicalmba.com/episodes/lifestyle-vs-real-business)
Only 3 Ways to Grow…What Would Plato Do (https://tropicalmba.com/episodes/three-ways-grow-business)

Dan & Ian get real about what it takes to create and maintain a successful business. They’ll walk you through their Goals/Plans/Systems (GPS) worksheet that’s specifically designed to help you plan for business growth. They use it with their coaching clients on a weekly basis.
Newsletter subscribers can download and complete their very own GPS worksheet.
Through completing this worksheet, you will:
Discover key insights about the state of your business that you probably didn’t realize before
Define clear goals for your business moving forward
Develop a plan based on your historical data and a cadence for tracking your progress regularly
Plus:
Ian talks about his cool and expensive hobby.
We talk about a founder who doesn’t take meetings and still has a profitable business.
We share some insight on how we managed our business during a crucial operational tipping point.
Connect with us:
Dan: @TropicalMBA (https://twitter.com/TropicalMBA) or dan@tropicalmba.com
Ian: @AnythingIa (https://twitter.com/AnythingIan)n or ian@tropicalmba.com
Useful links:
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow us on Instagram (https://www.instagram.com/tropicalmba/)
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:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“Lifestyle Business” vs “Real Business” (https://tropicalmba.com/episodes/lifestyle-vs-real-business)
Only 3 Ways to Grow…What Would Plato Do (https://tropicalmba.com/episodes/three-ways-grow-business)

“Manager mode is so tempting…” Dan & Ian discuss Paul Graham’s most recent essay titled “Founder Mode”, and how lifestyle bootsrappers can harness the power of founder mode to grow their businesses.
They’ll also address a question they get asked all the time: “But when is my LTV good enough?” How to figure out your LTV to CAC ratio and more in this week’s episode.
Subscribe to the newsletter to access Dan & Ian’s business resources used with their coaching clients. Subscribe to the TMBA newsletter. (https://tropicalmba.com/subscribe)
This week’s episode brought to you by Remote First Recruiting (https://remotefirstrecruiting.com/). Hire your next team member in 30 days or less.
From the episode:
Paul Graham’s Founder Mode (https://paulgraham.com/foundermode.html).
‘Old Man River’ reference from The 5 Approaches for Getting Rich + Budgeting for Wealth (https://tropicalmba.com/episodes/5-approaches-getting-wealth)
Connect with us:
Dan: @TropicalMBA (https://twitter.com/TropicalMBA) or dan@tropicalmba.com
Ian: @AnythingIa (https://twitter.com/AnythingIan)n or ian@tropicalmba.com
Useful links:
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Listen on YouTube (https://www.youtube.com/@OfficialTropicalMBA)
Follow us on Instagram (https://www.instagram.com/tropicalmba/)
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:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“Lifestyle Business” vs “Real Business” (https://tropicalmba.com/episodes/lifestyle-vs-real-business)
Only 3 Ways to Grow…What Would Plato Do (https://tropicalmba.com/episodes/three-ways-grow-business)