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#768 “Lifestyle Business” vs “Real Business”

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Manage episode 434464206 series 2545261
Content provided by Dan Andrews; Ian Schoen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dan Andrews; Ian Schoen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Go from being trapped in the job you’ve built for yourself to building a wealth-generating machine.

Dan & Ian challenge service businesses to determine their LTV to CAC ratio so they can improve their cashflow and run a “real” business that gives them the lifestyle they want.

Calculating the LTV to CAC ratio may sound hard (and boring), but it’s no harder than solving all those other things you’re struggling with in your business.

Also, Dan’s hot take on the digital nomad ratio and being “relatively” wealthy.

Plus, one lucky listener (and email subscriber) will win a free ticket to this year’s DCBKK (over $1,000 value) in October. Details on how to enter in this week’s newsletter.

Subscribe to the TMBA newsletter.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

  • (00:01:00) Free Ticket to Our Next Event
  • (00:04:49) Business Breakdown Series
  • (00:06:50) Understanding the LTV to CAC Ratio
  • (00:08:08) Scaling a Service Business
  • (00:18:33) Lifestyle Business vs Real Business
  • (00:20:40) Easier to Run a Real Business
  • (00:26:00) Understanding Key Metrics
  • (00:29:47) High Fidelity Problem-Solving
  • (00:35:03) The Digital Nomad Ratio
  • (00:36:10) Living Like the Wealthy

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

The Anti-Agency Agency + High ROI Customer Acquisition

The Secret Weapon to Pricing Power

  continue reading

774 episoade

Artwork
iconDistribuie
 
Manage episode 434464206 series 2545261
Content provided by Dan Andrews; Ian Schoen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dan Andrews; Ian Schoen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Go from being trapped in the job you’ve built for yourself to building a wealth-generating machine.

Dan & Ian challenge service businesses to determine their LTV to CAC ratio so they can improve their cashflow and run a “real” business that gives them the lifestyle they want.

Calculating the LTV to CAC ratio may sound hard (and boring), but it’s no harder than solving all those other things you’re struggling with in your business.

Also, Dan’s hot take on the digital nomad ratio and being “relatively” wealthy.

Plus, one lucky listener (and email subscriber) will win a free ticket to this year’s DCBKK (over $1,000 value) in October. Details on how to enter in this week’s newsletter.

Subscribe to the TMBA newsletter.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

  • (00:01:00) Free Ticket to Our Next Event
  • (00:04:49) Business Breakdown Series
  • (00:06:50) Understanding the LTV to CAC Ratio
  • (00:08:08) Scaling a Service Business
  • (00:18:33) Lifestyle Business vs Real Business
  • (00:20:40) Easier to Run a Real Business
  • (00:26:00) Understanding Key Metrics
  • (00:29:47) High Fidelity Problem-Solving
  • (00:35:03) The Digital Nomad Ratio
  • (00:36:10) Living Like the Wealthy

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

The Anti-Agency Agency + High ROI Customer Acquisition

The Secret Weapon to Pricing Power

  continue reading

774 episoade

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