TMBA 288: Ask Us Anything (Business) : Starting Productized Services, Offshore, Our Future Plans

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We’ve received a ton of great feedback from last week’s Q&A session on relationships and lifestyle. This week we’ve decided to reach out to our listeners for questions pertaining to business.  Ian and I are gonna be talking about everything from productized services to offshore business, management philosophies and our own personal outlooks on the future of our business.

Listen to this week’s show and learn:

  • What would we do differently if we had to start over from scratch.
  • How to figure out what kind of productized services you can offer.
  • Tips for structuring and pricing a productized SEO service.
  • The biggest mistake we made when incorporating our business.
  • Our thoughts on the age gap between startup owners and location independent entrepreneurs.
  • Where we see ourselves in five years time.

People on this episode:

Mentioned in the episode:

Listening options:

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

Cheers,

Dan & Ian

Published on 04.02.15
  • http://salesability.co Damian Thompson

    LOVIN’ these AMA’s Lads!

    As one of the more mature, umm experienced, err OK older DCers (but not quite 50) I can tell you that location independence becomes MORE of an attraction not less.

    re: Joey Mags question on calls, sometimes you gotta bite the bullet and do the late-night thing (or move back to the states) to build those high value biznasses just focus on making it worth it in the end. Build the sales process & system yourself and then hire for it, something I will be talking about at DCBCN #coughcough

    ;)

  • Claus Geissendoerfer

    Just thought I’ll mention that the UK is not too bad in terms of corporation tax and might provide more credibility than HK. I’m not a tax expert by any means but according to Wikipedia the difference between UK (20%) and HK (16.5%) is only 3.5% http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates

    In the UK for taxable profits of up to £1.5 million you must pay your corporation tax 9 months after the end of your accounting period.
    https://www.gov.uk/pay-corporation-tax/overview

    Hit me up on Twitter if you want to know more. I know a good accountant here :)

  • http://www.Usedmachineryfinder.com Scott Denton

    Hey guys, I’ve been listening to your show for about a year and it’s impressive how much value you continually bring. First of all I wanted to say thanks for your Startup review episode, I was in talks with several investors for my startup and for no reason. Thanks to your insights I realized I really want this to be a lifestyle business and that’s okay! I stopped all talks. The funny thing is I listened to Startup and didn’t put 2 and 2 together myself……

    Secondly, I’m not location independent. That is, my current business creates more than enough to qualify for the DC and I could operate it from wherever, but I have 3 kids and a VERY German wife. So no DC love for me I suppose. I would, however, be ultra interested in coming to the Barcelona event. I live in Germany which would be very convenient and was wondering if DC outsiders are invited and if not, would you make an exception (I’ll wash dishes if I have to).

    Thanks again for all the inspiration.

  • http://empireflippers.com/ Joseph Magnotti

    Thanks buddy, I agree. In the short term, the sales boost is worth the time investment.

    Looks like I will miss you at DCBCN, maybe next time!

  • http://empireflippers.com/ Joseph Magnotti

    Thanks for taking my questions guys. We’re working on profit sharing and bringing key customers close in to our business via the investor program. It’s long haul thing though, so I don’t expect results short term. Still, I’m going to invest sprints in phone calls at least once a quarter to boost sales. It’s just worth it!

  • http://corpina.org/ Danny

    Great episode guys, love the question at the end from Joe. A big idea I took away was don’t be afraid to focus on the long term plays.

    Btw Joe’s site is http://contractordynamics.com :)

  • http://www.tropicalmba.com/ Dan Andrews

    can’t hate the hustle! it’s nice to know that that gear is always there!

  • http://www.tropicalmba.com/ Dan Andrews

    thanks Danny and +1 on the shout to Joe :)

  • http://www.tropicalmba.com/ Dan Andrews

    hey Claus appreciate the heads up there ! :)

  • http://www.tropicalmba.com/ Dan Andrews

    hey Scott great to hear from you, really great to hear you are getting so much from the show. If you’ve got a qualifying business we’d love to introduce you to other DCers, would you mind sending an email to Alex@DynamiteCircle.com regarding the event?

  • http://www.tropicalmba.com/ Dan Andrews

    :( :( :(

  • http://www.tropicalmba.com/ Dan Andrews

    really interesting to hear that since the community is age biased, at least in the ways we generally talk about it, but yeah it makes so much sense that these values would be particularly important for those in middle life

  • http://salesability.co Damian Thompson

    Agreed on :( but DCBKK For sure yes Magnotti?

  • http://empireflippers.com/ Joseph Magnotti

    Yeah, I’ll be there in October, promise!

  • http://www.tropicalmba.com/ Dan Andrews

    :D !!!

  • http://www.alexdealy.com Alex Dealy

    A little late in the game here…

    But thank you for taking the time to answer my question!

    I think about what you said Dan, about creating a product, and having customers instead of clients and that definitely sounds like where I want to be at. I will move in that direction, and focus my energies on that.

    And if someone in there is really interested in a consulting and/or retainer package, then so be it. But I won’t start from that point.

    P.S.: Lima is only my “location independent” homebase. I guess I didn’t make that clear. I’m originally from San Diego, so can totally relate to all of the “sitting in traffic on the I5 thinking about _____” narratives, hahaha.

  • http://www.tropicalmba.com/ Dan Andrews

    cheers Alex never too late ! :) no problem appreciate you taking the time to prompt us! SD great spot if you have no commute! :)

  • http://www.alexdealy.com Alex Dealy

    A valid point–San Diego without a car is tough, but would be very nice.

  • http://www.facebook.com/tollfree.numbers.5 Tollfree Numbers

    The charge for a toll-free call is paid for by the called person who is subscribed to the number. These charges usually are per minute and vary by origin of call and length of conversation time over the phone line. http://www.telcan.net/tollfree/

  • Stuart

    I had a comment about your advice to Matthew
    from Kentucky about what corporate form to select when
    starting up. The advice was to base the decision on expected income
    level and tax considerations. As my lawyer$ described to me years
    ago when starting my business, liability is a big factor that should
    also be considered. If you are starting up in an business area
    where it is possible that you could be sued *and* you already have
    some personal assets (like equity in a house, or a spouse with a
    bank account:-), you may want a corporation or LLC rather than S
    corp or dba to shield those assets.

  • http://www.tropicalmba.com/ Dan Andrews

    great point Stuart appreciate you sharing it !

  • http://www.brandnewcopy.com Jamie Thomson

    A really interesting question posed by Alex.

    Dan, how would you suggest setting a client’s expectations if you didn’t have the capacity to do consultancy work after the audit?

    Jamie

  • http://www.tropicalmba.com/ Dan Andrews

    Ideally I wouldn’t be doing consulting work that I could hire for and thus have a more flexible capacity, but in a pinch I’d either 1) raise prices ‘surge pricing!’ or 2) offer them a referral to another colleague or tell them you can’t start the work till x date, if they do except surge pricing however you should be able to just as easily hire whoever you were going to refer

  • http://www.brandnewcopy.com Jamie Thomson

    Thanks for the advice Dan – much appreciated.

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