When You’ve Built Yourself a Job Instead of a Business

TMBA274: When You’ve Built Yourself a Job Instead of a Business
Date: 2014-12-11
Link: Tropical Talk Radio
 
Tropical MBAWith physical goods your margins aren’t going to get any better so set them great at the beginning.
Make sure your cost of goods is 25% of what you’re selling for.
You’ve got to know when you’ve got a flawed business model.
Don’t turn off the pipeline.
Hire somebody on the capacity side and focus on the pipeline side yourself.
Always focus on the pipeline. It is going to be the lifeblood of your business.
Optimize for interesting.
You have to have several entrepreneurial moments. You can’t just have one at the beginning.
Living broke is a great life skill.
The difference between a job and a business is a set of processes that repeat and scale.
Take less salary so that you can reinvest and grow the value of your asset.
The personal income trap doesn’t get any easier as you go along.