Today Dan & Ian challenge you to consider: How durable is your revenue?
They’ll explore the concepts of profit now vs profit later, investing profits to build durability, network effects, marginal profitability calculation, and more.
But first, in some lighter conversation, Dan argues that setting smaller goals and reconfiguring your team meetings can lead to higher productivity and higher yield in your business.
Plus, the 6 principles to a high-leverage meeting learned from running millionaire masterminds.
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Show Notes
- (00:00:43) Intro
- (00:02:15) A strategy for higher productivity and higher yield in 2024
- (00:03:29) Focus on three things: Who, what, and when.
- (00:04:15) Make your meetings so good you could sell them
- (00:10:08) 6 principles we learned from running millionaire masterminds
- (00:11:34) Common blind spots for founders
- (00:13:34) “I don’t know how to set goals”
- (00:15:26) Specific, measurable, attainable, relevant, timely
- (00:24:59) Are boring businesses as durable as they seem?
- (00:25:54) Investing profits to build durability & adapt fast
- (00:29:45) Profit now vs profit later
Links:
- Jean-Baptiste Say (https://en.wikipedia.org/wiki/Jean-Baptiste_Say)
- The Bezos 6-page meeting (https://www.youtube.com/watch?v=e47wAgIhZ7o)
- Bill Gurly’s article (https://abovethecrowd.com/2011/05/24/all-revenue-is-not-created-equal-the-keys-to-the-10x-revenue-club/)
- 7 Powers (https://www.amazon.com/7-Powers-Foundations-Business-Strategy/dp/0998116319)
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, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan.
Additional episodes you might enjoy:
How to Have Your Best Year $$$Wise Ever (https://tropicalmba.com/episodes/have-your-best-year)
Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023 (https://tropicalmba.com/episodes/favorite-moments-of-2023)
End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown (https://tropicalmba.com/episodes/end-of-year-brainstorming)