TMBA 484: 5 Things We’ve Learned From Running a New Business for 6 Months

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A lot of our listeners have been reaching out to us lately to ask about Dan and Ian‘s newest business venture, Dynamite Jobs.

Dan and Ian have been running the business for the past six months, and it is still very much in the early stages.

But as the business has evolved over that time, they’ve learned a lot of things that they didn’t expect.

On today’s podcast, we’re sharing five things that we have learned in the last 180 days of running a new productized services business.

And later in the episode, we’ll be discussing some specific numbers, goals, and takeaways from the genesis of Dynamite Jobs.

You’ll also hear three reasons why we think the remote hiring process isn’t working for a lot of entrepreneurs.

Transcript

Listen to this week’s show and learn:

  • Why the most profitable marketplace isn’t the one that we are good at serving. (3:03)
  • The difference between offering action and possibility. (18:13)
  • How businesses can be built around “$2000 Operators”. (28:55)
  • Why compensation is about more than just a number. (35:52)
  • Key numbers from our first six months with Dynamite Jobs. (40:43)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Ahrefs. For a lot of our listeners, Ahrefs is already your go-to tool for optimizing search engine results. This year, they have dramatically improved their Keywords Explorer by rebuilding it from scratch. Their new Keywords Explorer 3 not only gives you access to data from Google, but from nine more search engines including YouTube, Amazon, and Bing.  Whether you need to run a technical site audit, do competitor research, or identify high-value keyword opportunities, check them out at Ahrefs.com and big thanks to Ahrefs for sponsoring the show.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

Published on 03.14.19
  • Stuart

    Hi TMBA! The transcript is wrong (it’s last week’s). Could you upload the right one? Thanks!

  • Jane Beresford

    Hi Stuart .. it’s Jane here .. i’m the podcast’s producer. We do upload the transcript as soon as it’s ‘good to go’ but it does sometimes take around 24 hours to get it sorted, appreciate your endurance.

  • Nice to get the inside scoop on a fresh new business!

    Re: Not many DC members utilizing the service – keep in mind that cyclical/timing issue you mentioned. I’d love to use Dynamite Jobs but simply am not hiring at the moment.

  • The contrast between a platform like upwork and Dynamite Jobs / recruiters is quite interesting. You mentioned that you see Dynamite jobs transforming to something like a platform where you “offer” a specific applicant with a skill set.

    I think that’s probably a good move, as employers often get fed up with unreliability on upwork etc.

    There are already some platforms moving into that direction, e.g. https://www.cloudpeeps.com .

    Good luck, and make sure you don’t package the applicants to much (they might feel and act like a package then, and not act as an intelligent human).

  • Good to hear updates on Dynamite Jobs. Keep it up guys!

  • A listener

    Dan, regarding what you said about feeling uncomfortable: you shouldn’t be reluctant to talk about Dynamite Jobs. To the contrary. It’s interesting and informative to hear you guys think your way through your own business problems like you did back in the “glory days” — I think it’s what made the podcast a success. More of this, please.

  • Tom Hannon

    I find the topic of hiring people fascinating and I am always interesting in hearing about a new business. I think I hired my first person at 19 and it was the single most sobering experience of my life. As a matured in my career when I hired full time people I would ask them how much they wanted to make and see if I could afford them. Thinking that would take money of the table. It was noble but failed experiment. If you reverse the process and make it a bid for example to hire a person, I think the person being hired will always think they can get more elsewhere and they will never end the search for more or better there is so little loyalty.

    What I also find interesting in this data world is calling a job a specific thing, in most companies a job you do there, may have some similar aspects but in a new company job maybe be similar but it is different and called a different thing. It makes it really hard to find the round peg for a round hole.

    After 30 years I did hang up my entrepreneurship as in employing people for a break, (I needed one) but I am sure I will be back owning a business in near future. When I do I will hire for culture fit, if you can find that, you can training anything else. As you astutely said, most companies have no idea what there culture is they are just happy to keep the lights on.

  • Guys, thank you for the episode! About percentage of US-based applicants (75% is a big number): some other stat is needed to make conclusions. For example, what’s the amount of cos looking for a) people in such time zones and b) people with English as a first language? Thanks!

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