TMBA 033 (LBP33) – How to Pick a Niche that Makes Money, and Six Tips on How to Be a Millionaire in Three Years

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TMBA 033 (LBP33) – How to Pick a Niche that Makes Money, and Six Tips on How to Be a Millionaire in Three Years post image

Dan and Ian discuss a post by Jason L. Baptiste of Cloudomatic made on Hacker News on how to be a millionaire in three years (or a really short time). They talk extensively about six out of the thirty seven tips from Jason’s post, such as leveraging skills you already know.

In this new format, they also answer two reader questions:  choosing a niche that makes money, and how to go about purchasing a laptop.  (Dan’s Tip: Buy a Mac).

Listen to this Episode.

Mentioned in this episode are:

This little buggy makes videos like the one below. No housing required.

Listener Shout-outs:

People in this episode:

Call us with your questions or comments at 888-554-8428 .
Episode length: 27:54

Listen to this Episode.

If you’ve found the podcast at all helpful or entertaining, we’d love if you could click over to our iTunes page and give us a positive review. This will help us to get more listeners and invest more in the podcast! If you know some ways we can make it better, please send us an email. Dan at lifestyle business podcast . com.

 

Published on 06.28.10
  • http://www.heroicdestiny.com David Crandall

    Thanks for the shoutout! Downloading this podcast now to listen to on my way home today. Keep up the great work, guys!

  • TropicalMBA

    I'm assuming you are crushing it en route :)

  • http://www.heroicdestiny.com David Crandall

    You know it!!!

  • Alan

    I love how 3-5 hours of computer use is considered “casual.” I'm right there with you. I've been rocking my HP laptop for 2+ years, and once it goes kaput I'll most likely migrate to the Mac community.

    You considered trying to get an interview on Mixergy.com? It's an entrepreneurial audience, and I think chatting with Andrew would be really fun. His interviews are fantastic.

  • http://www.thewaythatyouwander.com Nate

    Very nice episode, thanks for the shout out!

    Sorry to hear about the dip in earnings. Being a fellow online entrepreneur, this kind of thing makes me a little uneasy. The search engines and Adwords are so unreliable sometimes. Was it a Google slap or sandboxing issue?… if you don't mind me asking.

    “Be an unrelenting machine” – A quote that I will not forget.

    On that How To Become A Millionaire In 3 Years article, there is a link out to another article about a business, ParrotSecrets.com. Did you get to check that out? It's extremely interesting and outlines how this little info product website makes over $400,000 per year. That's the kind of thing I find really inspiring as I am an info-product guy!

  • http://www.venturemixx.com/ Tony Ruiz

    Thanks for the shout out! I have to agree with you – The MAC is the best computer I've ever had. If you're a hustler and planning to spend time on the net do yourself a favor and get a MAC. I use a regular MACBOOK and it works perfect, will go PRO when the MACBOOK fizzles.

    On the discussion of picking a niche – it makes total sense to use the skills you have to apply to a totally different market, even one that you have strong ties too. This is something my biz partner and I are doing. You really find out how much value you can add to an untapped niche when you share your knowledge.

    Rock on Dan!

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

    Nate- Some sandbox issues and also emerging soft market conditions, luckily things are picking back up and we are diversified. Wow, selling info related to Parrots is proof some insider knowledge & experience + small niche = some great income.

  • TropicalMBA

    Tony I'm seriously thinking about turning this podcast into my personal platform to make Steve Jobs more money. YOU ROCK ON sir!

  • TropicalMBA

    We did get Google slapped on one of our other sites and realistically that probably cost us 3K :( We published duplicate content on a single domain because of an incorrect SSL implementation (my bad Ian!). I freaking love this parrot site. I love to hear about old-school under the radar type sites that are killing it.

  • TropicalMBA

    Haha, it didn't even occur to me, I'm turning in to a bit of a cyborg. I'm all about the whole trend to not work at all and make a lot of money, but I'm pretty sure I'm not smart enough to figure that stuff out.

  • TropicalMBA

    http://www.thesurvivalpodcast.com/ Speaking of crushing it en route in Texas, I think this guy records his 'cast while commuting to his 9-5. TOO COOL. One of our listeners tipped us off to this guys business model for the podcast.

  • TropicalMBA

    Also on the Mixergy thing I really like that show too, Ian and I aren't yet talking openly about our business so until we make that move we're out of luck. I think we'll be pulling back the curtains on our op within the next 12 months.

  • http://joelrunyon.com/two3 Joel Blog Of Impossible Things

    Totally agree with investing in a higher end laptop. They last you longer. I've had friends that have spent the same amount in the long run by buying 2-3 computers in the time I've had my first gen MBP. It's worth it.

    Undervaluing your own knowledge & value is something you have to figure out quick. I struggle with that a lot. I see & observe a lot of things that I think are common knowledge to everyone that end up being fairly insightful.

    What type of criminal would you be? I want to know! You guys should do an episode on this :)

    p.s. thanks for the drum/bongo roll. It gave me a laugh.

    Really enjoyed this episode. Good to see you guys hitting your stride & really having fun with it.

  • TropicalMBA

    haha thank you sir, I don't want to put words in Ian's mouth but I think he would be a pretty damn good criminal, I'm guessing he would run a tip-top chop shop, I'm interested in the money laundering niche :)

  • Eric

    Thanks for the shout out fellas. I really enjoy the podcast, one of the few I listen to with regularity.

    I have to agree with the MBP argument, I just got rid of my first one, it was the 1st gen model I bought in 2001. It was my main machine when I was a consultant, and it ended life as a web surfing machine for my wife. Finally the HD died and I booted it off a firewire drive for the last 6 months until I broke down and bought a new one. I don't know of anyone that's had a laptop last that long, definitely got my $ worth out of it :) You could dual boot/vm it if you feel the need for windows software, but I recently deleted the boot camp partition because I never used it.

    Ditto for Evernote, LOVE that app. I use that, mint, dropbox and Action method every day. All sync with my iphone/ipad and desktop… people think I'm organized :)

  • TropicalMBA

    Cheers Eric never even thought about the durability and longer lasting quality of the MBP, but a lot of more experienced users have been bringing that up. Noted on the action method, will check that out. I'm freaking in love with Dropbox.

  • http://www.heroicdestiny.com David Crandall

    I had actually experimented with doing a video podcast that I taped while driving. Camera was too shaky though. Why it never crossed my mind to just do audio, I have no clue. LOL Perhaps I'll be testing this out soon. Hmmm?

    Listened to the podcast on the way home and on the way to work this morning. Great stuff!!! You guys are fantastic and I love what you are doing. Off to reading the article that you discussed.

    And thank you so much for the huge vote of confidence. I want to get that transcribed and framed above my computer. ;)

  • TropicalMBA

    Sweet! Love the commute podcast idea. If you don't crush it I'll have to delete this episode so I'll be following you:)

  • http://robburnsbrain.com/ Rob

    Hey Dan,

    Have not visited your site in a while “been in Belize” LOVE your new design and layout!! You guys have really kicked it up a notch! Planning on heading down your way this winter. Possibly discuss VA biz.

  • http://twitter.com/LifeExperimentP steve

    Thanks for the shout out fellas. I really enjoy the podcast, one of the few I listen to with regularity. (just borrowing eric line) i love evernote taking pictures, writing you name it it fun and it is eazy to use i would say a must have.

    two articles you might be interested in by both people you know

    first is work the system sam capenter called Your Relentless System Improvement here is the link http://www.workthesystem.com

    second why is my tim ferriss
    How to Create Your Own Real-World MBA (i really like this idea) and it is on his blog http://www.fourhourworkweek.com/blog/

    that about it

  • Dan

    Yeah buddy! I saw your slideshow too cool. Looking forward to seeing you again.

  • http://twitter.com/jordan_luke Jordan Luke Collier

    Hey guys, I've been listening to you regularly for a few months now.. I really enjoy the show! Thanks for the effort..

    Just downloaded the latest episode & I'm going walking with it to the beach now :)

    Saludos from Barcelona!!

  • Guest

    Listened to every episode, big fan, but can we please lose the cheesy sound effects? Thanks.

  • TropicalMBA

    So cool! Thanks for letting us know Jordan. Put a big smile on my face.

  • TropicalMBA

    Well I'm a pretty cheesy dude. I'm going to play with them for a few more weeks. Jury is out:)

  • TropicalMBA

    Thanks Steve loved Tim's most recent post on creating your own MBA. I love his radical approaches to stuff we just assume should be done a certain way. Very cool.

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  • Barbara Jones

    Always helpful to have this kind of article.

    Talking about a virtual phone system. Try checking out

    http://telcan.net. I stumbled on it on the net, and they offer a very cheap toll free with amazing features. It’s worth a try, you might like it like i did. You won’t regret it.

  • Gemma Weirs

    These podcasts look like they could be really interesting and useful. I can’t see any transcripts to download to help with my deafness. Do you have any available to send to me?

    Cheers! :)

  • http://www.tropicalmba.com Dan

    hey Gemma we currently don’t make transcripts of the podcasts.. a show with similar information that has written form would be startupsfortherestofus.com 

  • Anonymous

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