TMBA 228: Getting to the Table With High Achievers

TMBA 228: Getting to the Table With High Achievers post image

Ian is back on the Tropical MBA Podcast this week to talk about our next big idea, as well as answering some listener questions (thank you to all who’ve called our voicemail: 888-554-8428).

Listen to this week’s show and learn:

  • Why having the same amount of “skin the game” can be critical when networking.
  • How to take your business from $1 Million to $10 Million?
  • Our answer to the question “How do you handle healthcare?”
  • How long it really takes a newbie to become successful.
  • The importance (or lack thereof!) of the “entrepreneurial x factor,” and how to figure out what yours is.

People on this episode:

Post Image 228Mentioned in the episode:

Listening options:

Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers,   Dan & Ian PS, if you’d like to receive emails from us occasionally, you can put your email address into the form below:

Published on 01.23.14
  • Thanks for the shoutout guys – Damian “the unsexy niche guy” Thompson

  • Dan

    Thanks for the great show last week DT! We’ve made a career out of unsexy niches! :D

  • Ian

    thought you’d like that! :)

  • I just thought of a term “lean multinational startups” – that’s basically what we are. One thing that you guys tangentially touched upon, is the social impact we can effect through business….we can provide talented kids (college kids, high school kids) back home with internships which provides a mindset shift. I am deeply alarmed by how few kids (esp. from working class or modest backgrounds) travel back home. Travel isn’t jut about a job, it’s about expanding folks’ mindset. People need to know there are options outside of teaching English or getting transferred to a foreign branch while working for a Fortune 500. We can not only grow our businesses but change lives by hosting a few high school or college kids and giving them internships abroad at our respective businesses. I mean when I was living in ‘pest, about 2 years ago, for the hell of it I started looking at office spaces. My mind was blown, you could literally rent out space that would cost you hundreds of thousands of dollars in NYC, DC, SV for next to nothing. I’m talking having plush office space in the heart of town like you were a $1 Billion corporation. Now imagine taking a kid from rural Wyoming or inner city Baltimore and hosting a summer internship for them (say they are a killer coder or great on social media, etc because this is philanthropreneurship not charity). We can change the world. The more young people back home who realize there’s a global market now and they HAVE to learn how to deal with other cultures (and enjoy doing that), the better. Folks in the UK, across Europe, in AUS/NZ have a gap year – between high school and college – to go exploring. There’s no reason why we can’t start a movement for forward thinking kids to spend a year abroad at our own lean multinationals startups (micro multinationals) to do that. BTW, have you reached out to Brad Feld? He’ big on building startup communities, I think he’d find what you guys are doing of interest. And he respects bootstrappers too (plus I think he worked in Europe for a while). Okay, whew, my stream of consciousness kicked in..time to get back to work ;)

  • Cristina C. Ansbjerg

    “Damian Thompson. Sexifying unsexy niches since 2013”

  • What an awesome way to launch a new mega revenue stream. Congrats guys.

    I’ll testify to how helpful Erik Paquet is with the travel hack tips. He graciously got on a call to consult me on my points and cards and steered me in the right direction on how to a) manage the cards to avoid the annual fee b) how to redeem the points I’ve been collecting and c) how to book the flight that will get me RTW trip to Asia with a stopover for however long I want in Europe. Erik’s a great resource.

    To offer my own travel hack credit card tips:
    The Chase Sapphire Preferred and Chase Ink, Ink Bold are great cards when the sign up bonuses are high. Great transfer options, especially to United, who have some of the best redemption values (tip from Erik on that one)

    If you are building United points, the United Explorer card has a low spending requirement for 40-50k points.

    AMEX Gold is a great card too. Look out for the 75k points offers here and there. I received the Platinum 100k offer via mailer but couldn’t make the jump. Again, Erik taught me that transferring AMEX points to British Airways on short haul flights is a great redemption value.

    Southwest card and the companion pass for US travelers.

    (he’s bringing sexy back…)

  • Dan

    This is classic!

  • Dan

    Why does this destroy me everytime?

  • Dan

    I like the team “lean multinational startups” I can dig that. I have not yet talked to Brad yet but have been following him for many years now, I resonate a lot with his philosophies in particular some of his personal posts really hit home. I love what he is doing in boulder. I think stuff like that is a big opportunity: to turn our businesses (enterprises?) into social movements, or at a minimum to be forced to consider social elements into what we are doing (smaller companies are being forced to anyhow….)

    I feel like that’s the future, and share your “historical” type hope for what’s going on. I’m excited to see where things go!

  • Dan

    Great tips Jeremy thanks for that!!! Appreciate you stopping by to share some info… 100% on the Erik thing it’s nice to see a guy launch a business on the back of a strong interest and skillset, I’ll defo be contacting him before I make my next long haul arrangement. So happy too that we got set up with these cards.

  • The 2nd to last guy who closes his eyes as he says Nice Slays me every single time…

  • Good move boys, about time you did something like this – to be blunt, it felt like DCBKK1 was more high level along these lines whereas DCBKK2 felt like more entry level sub $100k/year earners….survey filled in

  • Dan

    Cheers BT appreciate that…. my sense was like there was more of both… I also think many are making big leaps forward and really want something a little more exclusive. It seems from our interest list that this thing is going to go down, we’ll be pulling together the details this week.

  • Great job at showing up and answering every comment. I always appreciate hearing back.

  • TJ Nelson

    Cool to see myself mentioned there at the end. Working from a laptop at a waterfall in Thailand is a lot different than selling cars!

    Every now and then I miss that thrill of selling something. But it is easy to also forget how much I would constantly think while walking the car lot, “I’m still making someone else rich here…”

    Eventually I’ll be hitting the 100k profit on something to get into a mastermind like this. It’s important to think long-term like you say in this podcast… This stuff takes years.

    Thanks for the inspiration, as always.

  • An amazing career for a young guy who wants to learn Entrepreneurship & marketing to consider is nightclub promoting. You don’t really need any qualifications or capital to get into it… You just need creativity, hustle and lot of friends.

  • DT

    Dan and Ian. Another great episode. Keep them coming.

    I have to second the tips from Jeremy. A friend of mine sat me down about 9months ago and set me straight. While I had accumulated some cc points in the past, I really wasted them.

    Ink Bold is an AWESOME business card for accumulating chase points, you get 5x points on office supply stores, telephone, cable, internet services, 2x points on gas. Chase Sapphire gets you 2x points on travel and dining out. These plus 40-50K signup bonuses and you can take some awesome flights with United (and united partners including Thai, EVA, ANA), Korean Air, etc… The key is to transfer points to chase partners….do NOT just pay yourself back for tickets and hotels. You get a MUCH greater value transferring to United, Korean, Hyatt, etc, esp when you book bclass and 1st class tixx.

    Ian, you mentioned that you were bummed that Amex doesn’t transfer well to SPG any longer. You can get the SPG Amex card and get a 25-30K signup bonus. $1 spent =1spg point.

    I recommend and for people who want to learn how to maximize their point earning and get the most travel value for their points.
    safe travels

  • Dan

    woah great post DT thanks for the help here!

  • Dan

    thanks for that Steven!

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