Tag Archives: entrepreneurship

The Realities of Running a Business in 2017

TMBA396: The Realities of Running a Business in 2017

Date: 2017-07-06

Link: Tropical MBA

 

Tropical MBAIf you want to change your life–if you want to go from cubicle to wealthy–you need to seek out horizons and industries and places in the world that have a dynamic quality and are changing.

Take your skillsets you developed professionally and focus them on areas of growth.

It can still take a long time to make your business a reality.

It takes a long time to build anything that is sustainable.

The people that are going to win at the end of the day are the people that are going to keep coming back and doing the hard things.

It is harder than ever to hire A players.

If you don’t know about a functional area of your business it is easy for somebody to come in and BS you.

A superpower is something you get energy from or don’t get tired from.

Stick to your superpower and hire around yourself.

Find the thing you want to do–that gives you energy in life–and find a way to do it for other people.

Whatever you are doing for free you love and is likely one of your superpowers.

Don’t pigeonhole your superpower.

You need to have an interview process that digs into the past results of (the person you are interviewing). People talk a big game but you need answer, “Was this person responsible for big results in the past?”

There is a difference between being a founder and being an owner in a business.

Business is still in in-person relationships.

Should You Quit Full-Time Entrepreneurship?

TMBA395: Should You Quit Full-Time Entrepreneurship?

Date: 2017-06-29

Link: Tropical MBA

 

An online membership community is the holy grail of passive revenue.

When you are your own employer–when you are the master of your own destiny–when things don’t work out you have nobody to blame but yourself.

Just because somebody gets a job doesn’t mean they are going to do that for the rest of their life.

Don’t let your ego get in the way. Don’t let labels (job, entrepreneurship) get in the way.

There are plenty of business owners that don’t have an entrepreneurial bone in their body.

Breaking Up is Hard to Do

TMBA391: Breaking Up is Hard to Do

Date: 2017-06-01

Link: Tropical MBA

 

It is really important to separate ownership from your role in the business.

A lot of the things that keep people on the same page are the random trivial moments–the spontaneous things that come up when you are around people a lot.

To launch a business that is scalable it is easier to do it with a partner.

Maintaining a relationship over the long haul is a big challenge.

There are a lot of things that are painful about running businesses.

How Can I Get Started on My Own Business?

TMBA389: TMBA Mailbag: How Can I Get Started on My Own Business?

Date: 2017-05-18

Link: Tropical MBA

 

Tropical MBAIf your goal is to develop a successful business then you need to develop habits that help you do that.

Can you consistently take action towards your goals? That is all that counts in business.

The clearest path to developing your own ideas is to go work for someone developing similar ideas.

A lot of the same problems that existed at your job still exist when you are an entrepreneur.

If you feel like you are missing a business idea what you are actually missing is relationships.

Some of the most successful people never went to school.

Do not give yourself any other option than to succeed. Keep that as your mindset.

You can’t make people take action.

The Art of Stress-Free Productivity

TMBA387: The Art of Stress-Free Productivity

Date: 2017-05-04

Link: Tropical MBA

 

Tropical MBAIt is very rare that you meet a successful person who doesn’t get a lot done.

We will be the first generation to be defined by what we say no to. (quote from Paul Graham)

Do 90-day sprints.

Don’t invest a bunch in something that is not going to work.

Book: The Twelve Week Year

A lot of the resistance to focusing on one thing is emotional.

Plan with goals. Build with habits.

It would be hard to make a thousand sales calls and not get decent at sales.

Organize your weeks with protected areas of deep work.

Use courage and wisdom, and not labor, to make money.

How Does Your Business Feel?

TMBA377: How Does Your Business Feel?

Date: 2017-02-23

Link: Tropical MBA

 

The way to make the most sales is to sale as hard as you can but that isn’t true over the long term.

If you build an audience that trusts you you can always find a way to monetize it down the line.

Try to grow in a sustainable way.

You don’t have to look at every customer as a number and an opportunity to make money.

Are You An Entrepreneurial Person?

TMBA374: Are You An Entrepreneurial Person?

Date: 2017-02-02

Link: Tropical MBA

 

Tropical MBAYou need to find your own path forward.

Understand what your vision is and go out and achieve it.

It is so much harder to start when you are older.

(Your passion) has to be something that you have a real energy for without an outside influence.

You have to figure out a way to follow your passion while solving problems for other people.

An important part of your passion is figuring out how you can fit into the world.

Hang out with people (doing what you want to do). The dream might not be what you think it is.

Work-work Balance, Living A Process-Based Life, and More Listener Questions

Episode 308 | Work-work Balance, Living A Process-Based Life, and More Listener Questions

Date: 2016-10-04

Link: Startups for the Rest of Us

 

When you get further removed it is easier to be objective.

If you find that you are doing the same thing for days on end then you might want to schedule a daily review.

Most of the things that you consider crap work is a job for somebody else doing something they enjoy.

By its very nature entrepreneurship is a constant state of forgoing present gains for potential future rewards

Developers are much more motivated by having cool problems to solve (rather than money).

Is the Micropreneur Dream Still Alive?

Episode 307 | Is the Micropreneur Dream Still Alive?

Date: 2016-09-27

Link: Startups for the Rest of Us

 

Priorities definitely change over time.

People start businesses for a wide variety of reasons.

Often new things are bigger and scarier challenges.

The reasons that people exit their businesses are just as varied as the reasons people start them.

The question is what you want to have an impact on.

Symptoms: Sleeplessness, Loneliness, Stress. Possible Diagnosis: Entrepreneurship

TMBA352: Symptoms: Sleeplessness, Loneliness, Stress. Possible Diagnosis: Entrepreneurship

Date: 2016-09-01

Link: Tropical MBA

 

Tropical MBAWhen you have an early stage business things are up and down and it…amplifies your internal rollercoaster of emotions.

It takes time to make friends. It takes time to earn people’s trust.