TMBA 088 (TTR7) – Software Development as an Entrepreneurial Crutch, Cash Runway Strategies, and Sex-ish

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TMBA 088 (TTR7) – Software Development as an Entrepreneurial Crutch, Cash Runway Strategies, and Sex-ish post image

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Another episode where we let it all hang out. Underdeveloped theories about sex and marriage? Check. F-bomb ladened rants about software start-ups? Check. Talking shit about people we shouldn’t be talking shit about? Check.

Join us @ the TMBA compound for our Saturday night sit down where we talk about cash runway and a HUGE problem we see with tons of entrepreneurs who are creating web-based start-ups.

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Listen to this podcast and learn:

  • Sex at Dawn
  • An look inside of how Ian and I hustled when we were starting our first business.
  • A painstaking description of one of the most common, repeated, “you are doomed to fail” first time entrepreneur mistakes.
  • A rule YOU MUST FOLLOW if you are a first time entrepreneur.
  • Why “scale” and “automation” are for people who don’t know what they are talking about.
  • Learn about some of the most mind-expanding books we’ve read.
  • Insights into the biggest business deal you’ll make in your whole life.
  • The #1 biggest emotional crutch that new entrepreneurs.
  • A little bit of the story behind the “1000 Day Principle.”
  • Why you’ll be poor for 3 years if you start a business.

People on this show:

Episode length: 27:04

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If you don’t like iTunes, here’s the MP3 file–> [DOWNLOAD MP3]

Cheers,
Dan

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Published on 11.21.11
  • http://www.mattpaulson.com Matthew Paulson

    Quit ragging on the automation bandwagon. 95% of the day-to-day tasks of my business are automated. I could take a month off and still bring in 15K in revenue. That’s not bs.

  • http://www.mattpaulson.com Matthew Paulson

    Although, I agree that you shouldn’t automate until you’re actually making money. I didn’t automate the core of my business until it was making $8k a month. 

  • http://freedomgosu.com Tomer

    Matthew,
    I think what he is trying to get there with the anti-automation is that people are generally lazy, and the automation that Tim ferris and others introduced to the world just make stuff sound easy, You might have made your 15K revenue 95% automated, same as my friend get 4K automated having som VA’s doing all the work, but the fast of the matter is that it takes time to understand how to automate your business.Anyways sounds cool that u got biz that runs with automation:) I hope you enjoy that!Tomer

  • http://www.mattpaulson.com Matthew Paulson

    Thanks!

  • http://www.tropicalmba.com Dan

    Word agreed with both comments on my end. I’m all about automation, and have walked away from my first biz too… i feel like people do it up front as some kind of opportunity and use the concept to avoid the scary stuff. 

  • http://www.tropicalmba.com Dan

    haha I enjoy both you guys. PS, Matt… thanks a ton for the tech support help this past week. Your chops index is officially through the roof. 

  • JustinWCooke

    Damn, boys, LOVED this episode!  I’m currently reading (listening to) The Lean Startup by Eric Ries and it seems pretty on point with his points.  (Minimum Viable Product, etc.)  I also heard a little Derek Sivers (Version 0.1) and, oddly, the movie “He’s Just Not That Into You”  (You’re the RULE, not the EXCEPTION…speaking to who should start software companies)

    I started thinking about the tools Joe and I are looking to build (we’re NOT software developers) and think we relate to the pizza cash register guy.  We’re looking at and building tools that help OUR business.  We know that the improvement/automation we’ll be creating will completely pay us back for software development costs…any sales to third parties is just the icing on the cake.

    Anyway, loved the episode…sick stuff.

  • Vlad

    Word! Fun and sad! It IS hard to be successful Mentally and physically. You must to take an effort, You MUST to sacrifice. You wanna do it with a partner…  Prepare for Hell. It will work out. What are you willing to do?

  • http://soloconsulting.net Jeff

    I’m so amused you 

  • http://soloconsulting.net Jeff

    Haha, I can’t type. I’m so amused that Daniel Quinn’s were a big influence on you too, Dan.

  • http://twitter.com/JohnMcIntyre_ John McIntyre

    Another great episode. Love the idea of the 1000 days.

    Read Sex at Dawn after you mentioned it at Badladz. Already been recommending it to friends. Fantastic book.

  • http://www.tropicalmba.com Dan

    ha… blew my poor 10th grade mind open. never the same afterwards. 

  • http://www.tropicalmba.com Dan

    cheers you sexy bastard you.

  • http://www.tropicalmba.com Dan

    word.

  • http://www.tropicalmba.com Dan

    hey Justin… you invoking ‘he’s just not…” in a comments section on a biznass blog is a freakin’ winner !!! you guys are very similar to the pizza guy– scratching your own its and having the cash flow to do it… this guy actually ended up making a significant business selling the platform software he developed to competing pizza chains.. balla! can’t wait to see what you guys cook up man, thanks for stopping by!

  • http://awebsitedesigner.com.au Dan Norris

    Another great ep. I think I’ve got to stop listening, you guys make me think too much. Ha

    I get what you are saying about the software business thing. I’m guilty of it. Maybe I’ve been listening to too much of this week in startups but there is something really appealing about having a software business – i.e. having users instead of clients or customers. Jason gave some great advice on an ask Jason in a recent episode to a guy who was working in client services and wanted to go out and start a product business and it was basically that client services businesses are really freakin hard, lots of unhappy clients with overinflated expectations.

    I kind of feel like that with my business, there’s nothing wrong with it, I’ve got loads of work on but the idea of siting in a tent with a macbook in another country building out a system and not answering the phone has a lot of appeal right now!

  • Turnerbarr

    I like the direction of this conversation. You can definitely see where people’s priorities are by watching where they spend there money.(little johnny with 3k kindergarten, ha, my aunt and uncle do that shit).  You can make a lifestyle abroad, or doing whatever you want, if you are willing to make the sacrifice. I live with my parents when in Seattle or with my sister in SF if in the US and people are always dumbstruck at how I can live abroad for 9 months of the year. Well if you arent dropping 2400 on rent and 800 on a car and insurance and buying random shit you dont need all the time, you can do whatever for a fraction of the cost. You can pursue you business and build shit. Good talk Dan, see you out there.

  • http://www.tropicalmba.com Dan

    Is there a problem you could solve for your direct clients? 

    I know the feeling man– just tweeting with Tully and Justin C. about how we all dropped it hard on stuff like this.. hell, maybe it’s not such a bad thing afterall… we all turned out okay! and learned a lot in the process….

  • http://www.tropicalmba.com Dan

    hey thanks for listening! see you soon !!! 

  • JT

    Hustling on a Saturday night. Priceless.. 

  • http://www.lifestylebusinesspodcast.com/ Ian

    Perfectly OK and tons of people are HAPPY dropping 3k on kindergarden.  But when you sit down to start a business and go looking for some cash…

    This goes well with the 5 Possessions Rant.  Probably only 5 physical things in your life you need to operate at a high level.

  • http://www.EatUrVeggies.com Elisa Eshelman Rodriguez

    excuses is something I hear a LOT of in my line of work so I can appreciate the fact that those who make it a priority, make it happen…

  • http://twitter.com/MichaelPorfirio Michael Mason

    Agree with a lot of the things said here.  People do get too hung up on “scaleablity”.

    Biz early on comes down to one thing:  selling something for more than you paid for it.

    Buy low, sell high.

    – MPM

  • http://www.tropicalmba.com Dan

    word!

  • http://www.tropicalmba.com Dan

    ‘like a boss’ :)

  • http://www.tropicalmba.com Dan

    :D

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