TMBA574: The Power of Entrepreneurial Persistence
Play • 36 min

We are reaching back into the mailbag this week to answer questions submitted by Tropical MBA listeners around the world.

In this edition, we'll be focusing on three specific questions that we believe get to the core of what it means to be resilient as an entrepreneur.

We'll be discussing how much money you should save as a "runway" if you plan on leaving your job, the fundamental differences between hiring freelancers and hiring employees, and how you can navigate questionable business advice on the internet.

You'll also hear an update about the new products that we are launching over at Dynamite Jobs, and why we are somewhat optimistic about events returning in 2021.

Leveling Up with Eric Siu
Leveling Up with Eric Siu
Eric Siu
This Company Does 60% Profit Sharing With Over $25M In Annual Recurring Revenue
A big part of contemporary online business is connected to email marketing and one of the most powerful and exciting names in the game right now is undoubtedly ConvertKit. The company's Co-Founder and CEO, Nathan Barry, returns to the Leveling Up podcast today to talk about their last year or so of business, their choice to embrace profit-sharing, and his thoughts on the evolving remote-work landscape! Although ConvertKit can basically be described as email marketing software for creators, they actually offer so much more than that, and Nathan comments on their growth and how they go about adding new features to their service. One of the defining characteristics of the company is their lack of outside funding, and we get to talk about this choice and how they have managed to be so successful while opting out of venture capital. Nathan shares his thoughts on the time it takes to build something meaningful, the meaning of company culture, building in public and so much more! A big takeaway for listeners is the idea of intentionality and holding both the long-term vision and short-term goals in mind at the same time. So for all this from a leader of a leading company, be sure to listen in! TIME-STAMPED SHOW NOTES: * [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast! * [01:12] Nathan's perspective on what is hot right now for email conversion. * [03:38] The power of Twitter threads when used correctly. * [04:55] Growth at ConvertKit and the biggest steps they have made recently. * [06:14] Considering adding new features and how to do this smartly. * [07:52] Prioritizing certain features and how these decisions are made. * [10:12] Nathan's array of skills as a creator and the emphasis he puts on mindset. * [12:53] Thoughts on niching down and how this relates to expansion. * [14:52] The growth in the blogging and online influencer industry. * [15:58] Nathan's failed efforts at raising capital and how this ended up serving the company. * [18:13] The pros and cons of building in public — Nathan weighs in. * [20:13] The threat of competitors and bigger companies. * [22:45] Incentives and profit-sharing at ConvertKit — the evolution of Nathan's philosophy. * [26:18] Keeping a long-term vision in mind for short term strategies. * [28:55] Nathan's thoughts on recruiting talent in the current climate. * [33:32] Important parts of ConvertKit's remote culture and the emphasis they place on trust. * [34:58] Company retreats and the amazing practice of 'unsolicited feedback'. Resources From The Interview: * Nathan Barry * ConvertKit * Baremetrics * Pat Flynn * Tim Ferriss * Neil Patel * Gretchen Rubin * Leveling Up Episode 352 with Nathan Barry * Marketing School Podcast * Zen Habits * FreshBooks * Ahrefs * SEMrush * Hacker News * Oculus Leave Some Feedback: * What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below. * Did you enjoy this episode? If so, please leave a short review here * Subscribe to Leveling Up on iTunes * Get the non-iTunes RSS Feed Connect with Eric Siu: * Growth Everywhere * Single Grain * Eric Siu on Twitter
39 min
Growth Experts with Dennis Brown
Growth Experts with Dennis Brown
Dennis Brown
3 Insider Secrets to Getting More Clients with Podcasts w/ Jeremy Slates
Jeremy Slate is a podcast and public relations master, as well as the CEO of Command Your Brand, a PR agency that books guests on podcasts to help them grow their brands and helps people in the podcast space utilize their content effectively. Jeremy is back on the show for the second time to divulge three insider secrets to getting more clients through podcasts. Tune in to learn how to maximize your ROI and get more clients with proven tactics (plus a few bonus PR hacks) he’s used with his own business and his own clients. During this interview, we discuss: 1:30 – Jeremy’s background + About Command Your Brand 4:36 – How to deliver an effective call to action with a dedicated landing page 9:14 – Utilizing email sequences 11:23 – Facebook Pixel code on your landing page 12:25 – How to leverage retargeted ads for your podcast 15:50 – Who do these strategies work for? 16:44 – Being effective with your appearances in the media 17:17 – How to connect with and work with Jeremy Plus, a whole lot more! Resources: Command Your Brand Create Your Own Life Podcast GetEmails Facebook Pixel The 7 Reasons You’re Not Getting Featured In Your Favorite Podcast ————————- If you enjoyed this episode, please RATE / REVIEW and SUBSCRIBE to ensure you never miss an episode. Connect with Dennis Brown AskDennisBrown.com LinkedIn Twitter Instagram [Free Giveaways]
19 min
Smart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies
Smart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies
Jason Swenk
Should You Start a Digital Agency in an Economic Downturn?
Are you considering starting an agency but worried now's not the right time? Are you afraid of failure or the added pressure of these uncertain times? It's totally understandable! Starting a business is scary, but especially during an economic downturn. So you might be surprised to learn now may actually be one of the best times to start an agency. In this episode, we'll cover: * Should you start an agency during an economic downturn? * Does your agency have a challenger mindset? * Why self-awareness is key to your agency's continued growth. Today I sat down for a timely conversation with Scott Cullather, co-founder and CEO of INVNT, a live-branding storytelling agency. Scott started his agency right at the start of the economic downturn in 2008 and says doing so helped define who his agency is today. He's here to talk about how his agency thrived during a poor economy and what agency owners need to know today. Should You Start an Agency During an Economic Downturn? There's no doubt we are in one of the most volatile economies in our lifetime. Stocks are in flux, businesses are closing, and realistically, we have no idea what is going to happen tomorrow. But did you know now is actually the perfect time to grow an agency? Scott says one of the reasons his agency found success in 2008 is because there was literally nowhere to go but up. They had no employees, no overhead, and yes, no clients. But this meant every account they gained was one to be celebrated. And each one after was a sign they were moving up. When you have nothing to lose, it takes away your crutches. You don't think about what a certain decision might cost, but rather, what you have to gain. Does Your Agency Have a Challenger Mindset? Scott says starting during an economic meltdown set his agency up with a challenger mindset. Where larger, slower, flatfooted companies were making cuts and avoiding risks, INVNT was able to develop messages, strategies, and campaigns that were not only on brand but were designed to shake things up. Scott says this challenger mindset isn't one the agency has simply moved on from. Instead, it is what pushes the agency to grow. Being scrappy is everything. When you become complacent, that's when you're in the danger zone. Why Self-Awareness is Key to Your Agency's Continued Growth An agency owner must be self-aware of the decisions they make and their approach to business. Naturally, you should change your processes and systems as your agency evolves.. While you should always be willing to adapt and grow with the market, never lose that spark and drive you had when you first started your agency. It's like a football team who is up 21-0 that decides to change their strategy. If they lose their drive, they'll quickly find themselves down 28-21. Scott says he's always challenging his team to stay focused and grounded to the core principles that got them to where they are today. Often the ones who find the most success are the ones who aren't afraid to take a risk. When everyone else is stepping back, this is your opportunity to step up. Be scrappy, take chances, and don't be afraid to make big moves. When you start with a fighter attitude you'll discover it's likely a mindset that will stick around. Ready to See How Your Agency Financials Stack Up? Agency Dad is the accounting and forecasting solution designed specifically for agencies. And for a limited time, Smart Agency listeners can get a FREE AUDIT so you can compare your agency's financials to the industry benchmarks. When you know your numbers you can make smart decisions in order to grow your agency. Agency Dad will take you to the next level with bookkeeping, financial dashboarding, and forecasting built specifically for agencies. Head over to AgencyDad.money/freeaudit/ to receive a free audit on your agency's financials.
13 min
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