The Tropical MBA Podcast aims to show you the inside story of the people who are building "micro-multinational" businesses while they travel the world. We are interested in entrepreneurship, travel, internationalization, and personal freedom. Join 1,000's of listeners from all around the world, every Thursday morning.
TMBA 687: 5 Strategies To Double Your Business in 2023
As Dan recently reflected in the annual TMBA review, he and the Bossman saw their business almost double its revenue last year. On this week’s show Dan and Ian reflect on some simple principles or strategies that might help them and other business owners achieve the same in 2023.
Now, as this is the TMBA podcast, they have to come in 5’s. Dems Da Rules. They include niching down to blow up, why playing with pricing dynamics can be so powerful, and the opportunities lifestyle businesses often miss by not defining clear strategies:
‘What is a strategy? It is a painful constraint about your mission in the marketplace, and how your entire operation is roped into that promise … (it’s saying) our strategy is going to be 100% organised around this deliverable. And because the whole organisation is organised around that, we can't be copied easily. That's the idea. We cannot be copied, we will sit alone in the marketplace.”
TMBA 686: Preparing To Take Time Away From Your Business
As Dan prepares to leave Barcelona after a month-long stay, this week’s show is all about being able to take time away from your business. Because that is, after all, one of the reasons many listeners to this show are creating lifestyle businesses - whether it’s for parental leave, to pursue a sport or hobby, or perhaps some very necessary mental health wellness.
Both Sam Floy, founder of Cofruition, and Neil Callanan, founder of LooseGrip, have planned and executed successful sabbaticals. They share the reasons why, how they planned for it and some of the positive impacts it had on their businesses:
“Maybe this is a male thing but you are less important than you think you are. And that was abundantly clear. I like to feel important, and I like to feel like my clients need to talk to me, and I need to set the direction for our team when working on a creative project or software thing. Turns out that's not actually true at all right? The team did great without me. Clients didn't feel a dip, really.”
TMBA 685: From Agency to COO to CEO - A Case Study From SPI
Agencies: creating them, the opportunities they offer, and some of the issues running them can create has been a long running theme on this show.
Today Dan talks with Matt Gartland who ran a successful creative agency for eight years before partnering with one of his then clients, Pat Flynn, and eventually becoming CEO of Smart Passive Income (SPI).
Matt discusses how he’s helping SPI develop further as a diverse media brand, ways of managing a growing team, and how he sees online communities evolving:
“The primary value of these community based experiences is less the content, even though the content is important. It's more the network, the network of the people, the peer to peer interactions, the habits and experiences that you ritualize within these communities based on experiences. You need good people to be able to facilitate and foster those.”
TMBA 684: Personal Productivity vs. Business Productivity
Business processes and systems have been an emerging theme on this show recently, and today Dan reflects on why, and where they fit into the entrepreneurial journey. This often starts with personal growth through things like maximizing your health, reading, making connections, and maybe therapy. The second stage of advancing small businesses is frequently through different sorts of coaching. But, at some point, owners tend to hit roadblocks that can only be overcome by deploying systems rather than constantly fighting fires.
Today’s guest, Aaron Lynn, has dug deep on this, at colleges, in businesses he’s founded and as a business systems consultant. He joins Dan to talk about the importance of quick wins as well as long term strategy, the difference between personal and business productivity systems, the importance of meeting cadence, and a whole lot more.
TMBA 683: The Successful Business That Grew Out Of A Family Emergency
Happy 2023 to all our listeners. The focus of this show has always been freedom, whatever that means to you. This pod is a judgement-free zone. It might be freedom to travel, to spend more time with family and friends, to work in a certain way, or with certain values, to give back to your community, or to support loved ones. Or just not to have a traditional J-O-B.
Today’s guest Davis Nguyen initially founded My Consulting Offer, which helps people get management consulting jobs, to raise some ‘money in hand’ to pay a family member’s emergency medical bill. But it’s grown into so much more than that - a business that allows him harass his skills and to live life on his own terms, terms that just weren’t open to him when he was working for top consulting firm Bain & Company:
‘I loved the management consulting job. I love the fact that you get to work with really smart people … I just didn't like the fact that I couldn't take time off as much as I wanted … I remember my first year I literally went to negative vacation days because I wanted to take a trip to Japan. And, by the time I came back, basically HR said, ‘Alright, Davis, you have negative five days. Now basically, you can't take vacation for the next year.’
TMBA 682: Revisiting Some of Our Favorite Moments from 2022
2022 has been the year that we all got on the road again. Dan and Ian spent the summer in Barcelona, Spain and hundreds of members of the Dynamite Circle met up to forge new friendships and partnerships, socialize, swap stories and strategies, and a whole lot more.
Through it all, we have been fortunate to talk to some incredibly captivating entrepreneurs on this podcast. In today’s episode, we are revisiting some of our favorite moments and themes from the podcast this year, including thoughts about investing, the challenges of systemizing your business and motivating a team, what bootstrappers can learn from private equity firms (and vice versa), thoughts about the ‘anti-work movement’ and the amazing opportunities offered by living in a place with a lower cost of living than the West but equally great resources.
Came across the interview with Sam @ Financial Samurai - loved it. Thanks for hosting!
Fantastic podcast! Dan has been around forever and is one of the first people I started following in 2009. I see the longevity! -Sam
Best Podcast Ever
This is the absolute best podcast I’ve ever listened to. I highly recommend it to anyone.