TMBA 224: Listener Questions, Like : “I Make $1,000 a Month, Now What?”

TMBA 224: Listener Questions, Like : “I Make $1,000 a Month, Now What?” post image

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:

Post Image 224Mentioned in the episode:

Listening options:

Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST.



Dan & Ian

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Published on 12.26.13
  • Law 41: Avoid Stepping Into a Great Man’s Shoes… I think we are about due for a deep dive into 48 Laws of Power! Speaking of coconuts… Did you know that Hangovers Cure Coconuts?

  • Dustin

    The direct download link is for 223, not 224. Just a FYI

  • Dan

    Thanks Dustin I updated it !

  • Dan

    haha true story on both accounts ! you should see the dominator chop a coconut. he truly can do it all.

  • martyn

    Loved this episode guys. Amazed at how high you say the startup costs are for Saas businesses! I do think there are lower cost ways to get an MVP up and running – at least for demoing to clients or for the first few sales – for example – I recently started, the project started as a Microsoft Access database, and I was able to do a lot of the ground work that a developer would have done, and save some dev costs. The site still has a *long* way to go – but I at least have an MVP up and running.

    Think I’ve mentioned it before on here, but FreeAgent ( is in my opinion way better than Quickbooks and Xero. Definitely worth a look.

    Question for you – what role does data play in your businesses? Do you heavily analyse traffic data outside of Google Analytics? Do you profile your customers? What tools would you recommend for low cost startups for getting to the root causes or drivers of your early stage businesses?

  • Ryan Thompson

    Great podcast guys. Where was the checklist for podcasting?

  • “come up with a few new christmas songs”

    Yes, well said Jesse. So sick of all the christmas songs I hear over and over…and over and over.

  • Hi Dan,

    Great episode. I liked the $1k concept + the thought-provoking ideas you & the guys shared to get the would-be entrepreneur up and running.

    For the record too… I really miss the old intro/outro music. It has such a killer edginess to it. Please forgive me, but the new music just doesn’t seem to fit the adventurous-entrepreneur-Vietnam-kickbutt-backpack-passion that I absorb from all of you at TropicalMBA each week.

    Sorry, if that was too honest. ‘Love what you guys do, AND I’m a faithful listener on Stitcher.


  • Dan

    Thanks Ryan, thanks for the reminder, I added it to the blog post and here is the link:

  • Dan

    :D if you must go old school, i say start with mr sinatra!

  • Dan

    totally cool Rob! I agree I just lost the file and no longer have a recording set up while on the road : ( needed to outsource it to Fiverr.. perhaps we can address this next year.

  • Either way, you guys rock. Cheers to successful 2014, for you Dan + Tropical MBA//.

  • Dan

    thanks you too!

  • Matthew Newton

    Thanks for the shoutout Dan, heartwarming !

  • Ian

    Thanks for the mention on the post and in the show Dan and Jesse.

    I was hoping Xero or Freshbooks would make book keeping so easy that I could just skip having a book keeper, but based on your advice, I’m just going pro and hiring someone.

    Funny enough, a connection e-mailed me about an hour later talking about her book keeping business. The time has come.

    You guys rock. Thank you for tMBA.

  • Dan

    cheers Mat !

  • Dan

    rock on man! thanks for the question and best of luck!

  • leemallon

    A delayed comment to this show, I was surprised to hear the argument against xero and fresh books. As well as less book keeping there are many accountancy automations that can be made. E.g. when new order to website raise invoice in xero and reconcile via live bank feeds, use receipt bank to automate recipet processing. Cloud accountancy isn’t just making quick books in a browser Maybe not a need for the business discussed but surprised you didn’t point to this especially with your venture into SaaS with valetup.

  • Dan

    Hey Lee I totally agree with you here, for businesses that match up nicely with the feature sets these new systems do seem to be better… it just seems we can’t quite use any of them yet for whatever reason and we do get a lot of benefits from working with a bookkeeper… but yeah if you can rock out an automated cloud solution couldn’t hurt to give it a try

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