Dan and Ian discuss the biggest money problems they’ve seen in their own business and hundreds of other bootstrapped businesses.

Learn how to craft a sustainable financial model, the importance of owner compensation, how to avoid being under-invested, and more.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:45) Introduction and Setting the Stage
● (00:01:13) The Importance of Money Attitudes and Metaphors
● (00:16:08) The Startup Spending Mindset in Bootstrapped Businesses
● (00:29:39) Focusing on the Wrong Problems
● (00:31:25) Strategies for Affording to Start a Business
● (00:34:28) Starting Early and Investing in Yourself
● (00:38:18) The Importance of Owner Compensation
● (00:41:15) Setting a Salary Cap
● (00:45:12) Avoiding Being Under-Invested

Links:

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:

Unlock Wealth Through Financial Fluency

The Secret Weapon for Pricing Power

How Healthy is Your Business?

#760 - The 7 Most Common Money Mistakes for Bootstrappers 51:42 Share

Tropical MBA: Entrepreneurship & Founder Lifestyle

Shownotes Transcript

#760 - The 7 Most Common Money Mistakes for Bootstrappers