Tropical MBA – Location Independent Entrepreneurship

In this week's episode, I'm answering some listener submitted questions. I've invited Jimmy Hayes and Josh Weinstein back on the show to add their two cents as well, as we discuss whether or not a college degree is necessary for someone who wants to become a location-independent entrepreneur, among other topics. Listen to this week's show and learn: Why it's important to build an idea of remarkability into your products. How the really successful viral brands are the ones connecting emotionally with the market. My go-to joke at a cocktail party. Reasons why you should or shouldn't be going to college. Some alternatives to higher education for people who want to become location-independent entrepreneurs. People on this episode: Dan Jimmy Hayes Josh Weinstein Mentioned in the episode: Call us at 888-554-8428 David Hehenberger's Easy Pricing Tables.com. Dynamite Circle, our private membership site. Mark Cuban on The Coming Meltdown in College Education Mark Cuban on the College Bubble There's No Speed Limit by Derek Sivers The Sound Trader The Thousand Dollar Brownie by Sean Malarkey Purple Cow by Seth Godin Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-clickand "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers, Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

*** Are you interested in attending our high level mastermind in April or May? If you can fill out this brief survey, we'll send you more details shortly. *** In this week's episode, we're decided to do things a little bit differently. I've invited several of my friends from the Dynamite Circle on to the show to have a very candid, round table discussion about narrative fallacy and the future of location independent entrepreneurship. Listen to this week's show and learn: How to join the conversation, and not trying to decode it. How the digital nomad community has changed in 5 years, what we expect in the future. What you can do to handle loneliness and entrepreneurial depressions. What these people who’ have built location independent cash flows would do differently. The #1 piece of content our guests can recommend and the actions that they would take. People on this episode: Dan Jimmy Hayes Jon Myers Zack Lazarus Terry Lin Mentioned in the episode: Call us at 888-554-8428 Dynamite Circle, our private membership site. Narrative Fallacy from Nassim Nicholas Taleb's The Black Swan SovereignMan Paul Graham's Essays The Millionaire Fastlane by M.J. DeMarco Simon Sinek - Start With Why Social Intelligence by Daniel Goldman Mike Tyson's Undisputed Truth Cody McKibben at ThrillingHeroics.com Tommy Schultz Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers, Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

*** Are you interested in attending our high level mastermind in April or May? If you can fill out this brief survey, we'll send you more details shortly. *** In this week's episode, I've been reflecting about how far things have come since I began dreaming about working remotely. Staying true to that, we are revisiting a previous episode in which Ian and I discussed the less glamorous parts of entrepreneurship, and how to handle the necessary challenges to become a successful entrepreneur. Listen to this week's show and learn: 9 tough truths about running or starting your business that bloggers won’t tell you about. How to accept that in order to be successful, you need to be obsessed. Our top 3 tips for people who are getting started with their business. How to change your mindset to a winning one. Some of our favorite software for growing our businesses. People on this episode: Dan Ian Mentioned in the episode: Call us at 888-554-8428 We're hiring! Dynamite Circle, our private membership site. Check out my friend David’s lifestyle business, and get your US taxes done while you are at it…. He makes US tax returns for expats suck as little as possible, and does so at a flat rate of $329. BOOM How to Get Rich: One of the World’s Greatest Entrepreneurs Shares His Secrets by Felix Dennis Tropical MBA Bali Pool Party @chrisguillebeau, check out his Gorilla trekking trip in Congo Screenflow Dropbox Boomerang Louis C.K. on Conan Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers, Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Damian Thompson is back after the last episode with him absolutely blew up! Erik Emsley challenged us to help him explain to his family what this lifestyle choice is all about. Listen to this week's show and learn: The fundamental belief system behind the entrepreneurial lifestyle. How much we value our time above all else. Why we don't care about variable income. The importance we place on where we are now, not in 20 years. Key difficulties that we face in relationships. People on this episode: Dan Damian Thompson Mentioned in the episode: Call us at 888-554-8428 We're hiring! Matt Bieber from The Wheat And The Chaff John Lee Dumas Nate Ginsburg Dave Ramsey Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers, Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Ian is back on the Tropical MBA Podcast this week to talk about our next big idea, as well as answering some listener questions (thank you to all who've called our voicemail: 888-554-8428). Listen to this week's show and learn: Why having the same amount of "skin the game" can be critical when networking. How to take your business from $1 Million to $10 Million? Our answer to the question "How do you handle healthcare?" How long it really takes a newbie to become successful. The importance (or lack thereof!) of the "entrepreneurial x factor," and how to figure out what yours is. People on this episode: Dan & Ian Mentioned in the episode: Call us at 888-554-8428 Damian Thompson Matt Bellamare Jacob Puhul 25K Club Tim Ferriss event Jesse Lawler Abroaders Podcast Ninjas For Health TJ Nelson Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Damian Thompson from Linchpin is back on the show this week (his first appearance here) talking with me about one of the biggest movements we see in the location independent scene. We talk about what Damian has learned during his first 1,000 days of being a business owner, and how listeners can utilize the lessons he's learned (and the sales strategies he's developed) to grow similar service oriented location independent businesses. Listen to this week's show and learn: Why starting a productize service cleverly forces you to solve a huge problems struggling entrepreneurs have. Why going after good ideas can cost you tons of time and energy. How to find your true niche in productized services. The critical distinction between a demographic and cashflow. A common 3-year success script for entrepreneurs. People on this episode: Dan Damian Here's 11 Random Productized Services Ideas Sales pages. About pages. Youtube optimization. Split testing offers or opt-ins. Weekly email newsletter services. Platform specific emails. Cart abandonment emails. Lifecycle emails. Press release creation and distribution. Outbound lead generation emails. Membership site services. Mentioned in the episode: Call us at 888-554-8428 John McIntyre Ben Krueger Dan Norris The Ascender Rob Walling Justin Cooke Built To Sell Dave Huss Shopify Ninjas Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

The boss man is back this week after a far too long hiatus and his timing is perfect for a topic we absolutely love. Kiri called in with some concerns about whether it's time to cut her losses with her current business, or if there's anything she can do to turn it around. Her major problems include a low price point, high shipping, an ungrateful audience, and low margins. It's a difficult issue, and we've got strong opinions on it, Shark Tank style. Listen to this week's show and learn: The biggest danger when someone says "sunk cost". A review of our major recommendations for an apprenticeship. Why using Kickstarter might (or might not) be the right move going forward. How to uplevel a customer to make your business worthwhile. How to cast a net to get your customers to take action in a way that informs us. People on this episode: Dan & Ian Mentioned in the episode: Call us at 888-554-8428 Derek Sivers - Why I Am Here Minaal Portable Bar Company A Is For Apprentice I Like That Lamp Fretboard Anatomy Patrick McKenzie's Year In Review Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Happy New Year! Ian is off celebrating the holidays with his family this week, and Kaiser Soze was here hanging out when a discussion came up that we thought would be good for the show. This show is mostly about lifestyle,  but in case you're looking for the good old fashioned business talk, below are some of my favorite podcast episodes on just that topic. Listen to this week's show and learn: If  the "rosey picture" we paint of Asia has any true merit. The massive amount of set up time it requires to live in Asia (he said with a hint of sarcasm). Is Asia truly a bootstrapper's paradise? Why our first commandment of success in Asia is "thou shalt not do local business." The emotionality of moving to, living in, and doing work in Asia. People on this episode: Dan Jon Myers (AKA Kaiser Soze) Mentioned in the episode: Call us at 888-554-8428 How I Knew I Wanted To Be A Digital Nomad Derek Sivers - Why I Am Here Some of our favorite TMBA podcasts in 2013: The Full Story Behind Our First Niche 5 Lifestyle Business Thought Experiments What Our Speakers Taught Us How to Get Rich Dreamline 3.0 - A Simple Approach to Getting What You Want in Business and In Life A 21st Century Financial Script How Profitable Niche Selection Really Works The 10 Point Business Diagnostic Test The 10 Travel Commandments How Hyperfocus in Your Marketing Can Lead to Broader Business Opportunities Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Since an angry fish seemed to have cut the internet wire in the ocean, Ian and I are cut off from one another. In his stead, Jesse "The Dominator" Lawler has stepped up to bring value to the masses. The listener questions continue to get better and better, so The Dominator and I are cruising through some of the quality questions from the past week, including one that I get asked a lot, "So I've made $1,000... now what?". Listen to this week's show and learn: Are SaaS apps REALLY a great opportunity to step into the market (or are they overhyped for newbies)? Some of the most valuable things we've learned from working on Valet Up together. The best way to effectively track invoices and expenses. How to pass the entrepreneurial litmus test. Why am I obsessed with making $1K a month (and isn't that just small ball)? People on this episode: Dan Jesse "The Dominator" Lawler - Smart Drug Smarts | Evil Genius Technologies Mentioned in the episode: An example content rip sheet for your use. Call us at 888-554-8428 The Valet Spot Matt Newton - The Web Agency Podcast Xero Quick Books The Foo Fighters - Back And Forth Documentary Howard Stern Adam Carolla Ira Glass The Lifestyle Compound Derek Sivers Ian Robinson - Freedom Podcasting Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

We've been looking back a lot to the beginning of The Valet Spot now that we've released the info to the public and realized that although we did a lot right, we screwed up a lot too. We figured with some of the big changes and our growth trajectory coming up, it would be a good idea to sit down and discuss what we did wrong, and what we did right so it can help some people in the e-commerce world avoid our biggest mistakes. Listen to this week's show and learn: The biggest mistakes we made in building The Valet Spot. Why we probably wouldn't start this business if we were starting from scratch. Why we've gotten a little less aggressive as our business has grown (and why we think this could be a bad thing). The one decision we made early on that helped us ensure our location independence. Why technology can sometimes be the biggest blunder if it's focused upon. People on this episode: Dan & Ian Mentioned in the episode: Call us at 888-554-8428 The Valet Spot Modern Cat Designs The Portable Bar Company TMBA Dreamlines Chris Guillebeau's Annual Review John McIntyre Michael Corvel on TMBA Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

For a variety of reasons, Ian and I have never spoken openly about the first successful B2B business we ever started-- TheValetSpot.com. This week we are going to change all that and go into the details of how that business got started, how we won market share, and what we are doing to grow the business in the future. Terry Lin from Build My Online Store was kind enough to interview Ian for his great podcast and I think he did a great job of extracting the real scoop. We asked him if we could share his interview with our listeners, and he was very gracious for letting us share it here. Enjoy! Listen to this week's show and learn: How we found out about and became a leading supplier in a little-known B2B niche (and how you can do the same). Why word of mouth is so critical in B2B and how to cultivate it in your marketplace. The important differences between B2B and B2C businesses. Some predictions on the future of drop shipping and ecommerce marketing tactics. How to determine-- before you get started-- if your niche is a winner or not. People on this episode: Dan & Ian Terry Lin David McKeegan Mentioned in the episode: Call us at 888-554-8428 The Valet Spot Modern Cat Designs The Portable Bar Company Minaal Jon Myers Episode #4 of BMOS with Dan Millionaire Fastlane Kevin Kelly TMBA #219 Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

I've got Joe "Hot Money" Magnotti on as my co-host this week in the wake of Ian's much needed romp in Europe. Today, we're passing the ball back and forth about the direction things are going regarding remote working and team building. We've been noticing that the old norms are shifting (some have been for a while) to a new era that we're super stoked for. We dig into a ton of meaty stuff and add a little philosophical fun at the end. Listen to this week's show and learn: What's happening to "outsourcing" as we've come to know it. Why creating a narrative to inspire your team is going to be a game changer. Where the best people on your team are going to come from (hint: it probably won't be from Cornell). The rise of the lifestyle design job and how it impacts entrepreneurs. How to create one of the most competitive cost structures in the world. People on this episode: Dan Joe Magnotti Mentioned in the episode: Call us at 888-554-8428 Empire Flippers Click Interview Ron Davidson - The 4th Economy Tim Ferriss - The 4 Hour Workweek Jason Fried - Remote Fiverr Authority Engine ELance Nick Bilton - Hatching Twitter Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

In the process of launching and iterating on Valet Up, our new SaaS app developed for valet companies, Ian and I have been working on refining our email marketing strategies and how we can snag some extra customers and improve our closing average. On top of this, an email came in from Mark from Art Of Baseball and he asks how he can improve his email marketing to gain more customers. With the timing being as perfect as it was, we had to share our thoughts. Listen to this week's show and learn: Why lower prices usually equate to doing your customers a disservice. The tool we're using that's making our email marketing sizzling hot. How to take advantage of the fact that 60% of people open emails on a smartphone. What to do about the reality that people are being conditioned not to open your emails. Calls to action: using limited space, limited time, and pre-selling. People on this episode: Dan & Ian Mentioned in the episode: Call us at 888-554-8428 Empire Flippers Linchpin.net Patrick McKenzie Campaign Monitor Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

Ian and I are both in the "on the road" mindset this week-- we're both mentally preparing to head out traveling or a little while. In that casual spirit we've both been dreaming a bit about what the future might hold. We asked some team members and listeners to help us out with some entrepreneurial and lifestyle thought experiments, and what we recorded were some of our raw thoughts on issues from "what makes success?" to "what's your favorite place to live?" Listen to this week's show and learn: The fundamentals of a JAM session. If you don't buy a jet, your mother will die (how would you make 15 million dollars?). Two of the most brutal mistakes you'd love to avoid. A plan for a six figure podcast. The most critical business skills to learn FIRST to succeed in business. People on this episode: Dan & Ian Mentioned in the episode: You're Not Good Enough To Be Disappointed Pat Flynn The Consulting Bible (Affiliate Link | Non-Affiliate Link) Sebastian Marshall Tony Robbins Frank Kern Mark Manson University Of Phoenix Team Treehouse John Lee Dumas Justin Cooke Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below:

We've gotten a few phone calls recently that set us off on a path to the discussion we had this week on the Tropical MBA Podcast. Making location independent income quickly is very doable, especially going the route of the consultant. There are a few keys to making it work the right way and eventually being able to move it into something bigger, and that's what this episode is all about. Listen to this week's show and learn: Baller ideas on how to reach out to (and meet up with) influencers. How to pick the right market for your consultancy. Why you shouldn't participate in any story you can't tell. The value and critical importance of the monthly business (as well as how to make it happen). The only thing small businesses care about now are results. People on this episode: Dan & Ian Mentioned in the episode: Seth Godin A framework for framing up your business Nicki Bluhm and the Gramblers - I Can't Go For That (cover) Dj Schmolli Kalzumeus Resort Rebel Rob Walling - Software by Rob | Startups For the Rest of US Derek Sivers Hong Kong Shuttle Real Life Brazil Listening options: Subscribe via iTunes. Listen on Stitcher Radio. Android users can grab our RSS feed here. Right-click and "save file as" for direct download. Or click here to get sent to the top of the page where the on-site player is. Thanks for listening to our show! We'll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you'd like to receive emails from us occasionally, you can put your email address into the form below: