TMBA 145 (TTR19) – The 2% Fallacy and 10 Business Red Flags

TMBA 145 (TTR19) – The 2% Fallacy and 10 Business Red Flags post image

I’m back in Bali hoping to take advantage of the inspiring scenery and lifestyle to get a ton of work done. I was excited to hop on the mic solo-style this week and address those of you who plan to spend the weekend hustling away.

In this week’s show I talk about some digital nomad hot spots as well as 10 business red flags that prevent you and your business from achieving maximum velocity.

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Listen to this episode to see if your  business suffers from one of these red flags:

  • The 2% fallacy.
  • A “cool look” is not a differentiator.
  • Traffic is almost never the problem.
  • Douche  networking.
  • Would you be willing to go to war with your business partner? You should.
  • The difference between strategies and goals for your business.
  • The best tactic to see if your product is valuable to your market.
  • Buy now button in 7 days or bust.
  • Get an accountant or a new business.
  • Stop dousing your business with yourself.

Get your voice or question on TTR:

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People on this show:

Episode length: 22:09

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Hope you have a great weekend!



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Published on 11.02.12
  • I’m bummed out I missed you in Chiang Mai by one day!

    I would move to Bali tomorrow if it wasn’t for:

    a) sketchy internet
    b) Kuta bogans

    I would probably live in Ubud though so b wouldn’t be a problem. Ubud reminds me a little of Chiang Mai, and I’m not much of a beach person so I like both of these places.

    While you are discussing the merits of Chiang Mai v Bali, I think the digital nomad hotspot for 2013 is going to be Ho Chi Minh City. See you there ;)

  • I want to be location independent quite badly.

  • Agreeing about HCM

  • Bogans? What bogans? lol!

  • Ok Dan – I’m feeling good about this one. Got Xero up last month and running and paid *other* people this week. Plus I had my first member buy into my new membership program. Can I get a pat on the back? (obviously I still have still got to work on the whole permission seeking/affirmation addiction!)

  • I’m excited to read your book, Dan! If you need an editor/proofreader, drop me a line.

    I think the source of the “douche networking” mentality comes from the fact that an appearance in the mainstream media or by some big blogger does appear in the history of a lot of successful blogs/businesses. However, the key point is that the spotlight and the subsequent success came because they were ALREADY doing something that was valuable/useful… not because they sought out those mentions by the big guys or strategized their way into virality.

    You’ve picked out some great points that can definitely infiltrate into an entrepreneur’s mind in a subtle way… I’ll have to listen to this one again to digest it further.

  • Dan

    I’m happy to report that this whole bogan situation has been contained to the space of a few city blocks.

  • Dan

    Yeah man, I’ll see ya soon. James I gotta say I’m a believer that the internet issues will be resolved… current connection has been great this week + 3G service regularly over 2MEG down… hearing similar reports from co-horts. Now having Skype calls from previously reserved for email-only Starbucks connections. :)

    Anywho, you are right about HCMC… I’ll be there for a bit. I can’t rock a city for the long term, but a few weeks hangin’ with you guys is well worth the concrete oppression!

  • Dan

    go for it!

  • Dan

    NICE NICE NICE. You have been patted.

  • Dan

    Sweet! That’s a great distinction you are making there RE: douche networking, it’s similar to the difference between “event” and “process” based thinking.

  • This sounds promising. Looks like I will visit Indonesia in March using Bali as a starting point. I do like the Seminyak end of the beach (too classy for the bogan masses ;) )

  • Rich


    Dan have you read “Work the System” ? Talks about some similar stuff. his perspective = everything in your business is a system/process that can be tweaked, improved, replaced or removed. Similar to E-Myth but better IMO.

    Like you he emphasizes the importance of working systems even when you feel like you really need to be fire-fighting or making money. As you say it’s the times when you work on something high-quality and “clear your desk”, or build an asset (system or sub-system), that matter most in the long-term.

    Anyway great podcast!

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