TMBA457: Why Does Everyone Talk About Revenue and Not Profit?

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A few weeks ago, Dan and Ian published an episode of this podcast about The Peter Principle, which is the idea that everyone will more or less rise to the level of their own incompetence.

Today, we are talking about a different principle. This one comes from a great 19th century book, The Adventures of Tom Sawyer by Mark Twain.

This episode begins with an excerpt from the book, where Tom is forced to paint a fence and convinces others to help him, eventually managing to get them to paint it for him.

On today’s show, we’re sharing our thoughts on how entrepreneurs can use this same philosophy to lead a great team without working in their business day-to-day.

We’ll also be talking about the progress we’ve made with our new business venture – Dynamite Jobs, and why many entrepreneurs spend so much time focusing on top-line revenue rather than profit.

Transcript

Listen to this week’s show and learn:

  • Why the story of Tom painting the fence is ultimately about leadership. (3:05)
  • The difference between managing people and inspiring people. (5:43)
  • Why it’s important to provide people with a sense of purpose. (8:10)
  • An update on our foray into the world of remote jobs. (17:10)
  • The answer to one of the most common questions that we receive. (24:45)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Bean Ninjas. Most bookkeeping professionals think an Amazon product is rainforest lumber. The Bean Ninjas is a bookkeeping service that specializes in online businesses. The Bean Ninjas are offering a one-hour road mapping session to help clarify where your finances are and what your next steps should be. As a very special offer to listeners of this show, you can get access to that session at a fraction of the regular cost.

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In the entrepreneurial world, it’s rarely questioned that “exiting” is the end goal of a smartly built business and a prestigious waypoint in a successful career.

In 2015, Dan Andrews and Ian Schoen sold their business for multi-seven figures, and although they don’t regret selling – there are many mistakes they made that were avoidable.

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