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Tropical MBA: Entrepreneurship & Founder Lifestyle

Episode 311: TMBA311: Productized Part II : ​​”Putting Yourself Out There Can Hurt”

Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan Andrews; Ian Schoen

Digital Nomad, Business, Ecommerce, Society & Culture, Amazon, Founders, Cash Flow, Places & Travel, Founder, Business Owner, Cashflow, Management, Entrepreneurship, Million, Operator, Operations, Profits, Distributed Team

4.9527 Ratings

🗓️ 19 November 2015

⏱️ 26 minutes

🧾️ Download transcript

Summary

http://www.tropicalmba.com/productized2/ A few weeks ago we spoke with Jeff Pecaro. Jeff is starting a productized service business and he offered to let us follow along with his journey on the show. This week we are catching up with him to find out how his business has progressed and he has managed to weather the storm of some tough criticism.

Transcript

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0:00.0

There's really a premium to be placed on honest feedback because there are so many people in your life that are going to tell you, that sounds great, good for you, honey, pat on the head, that hearing hard feedback is valuable when it's coming from a place of hell.

0:16.8

Hey, podcast, listener.

0:18.3

Even if you are alone in your entrepreneurial journey, know that today,

0:21.6

right now in your earbuds, you are joined by thousands of entrepreneurs from all around the

0:26.2

globe seeking to grow better, more profitable, location independent businesses.

0:31.0

If you'd like to learn more about what we do and download our entire back catalog,

0:36.2

check out tropical MBA.com.

0:43.8

A few weeks ago, we started following the story of Jeff Piccaro. His goal is to launch a scalable

0:51.9

services business that earns him $10,000 in net profit every month.

0:57.9

He's offered to allow us to follow his journey on the show.

1:01.9

When I asked Jeff last week about why he was inspired to start the business, here's what he said.

1:06.7

Yeah, you know, it's interesting.

1:07.8

I think a lot of people who leave the working world find a skill that they're good at, they figure out how to sell it, and they end up really being glorified freelancers, which, you know, despite having a bit of a brand name, despite having a reputation in a certain community, at the end of the day, my work has come back to selling my talent and selling my time. I'm sure many of us can relate to Jeff. You know, we become freelancers and consultants because we have to make a living, but we can't stand having, you know, a quote, real job. The problem is, is it's just so murky from like, how do you get from charging people for your time to build an asset that, you know, allows you to earn a living from anywhere that you can control without outside investors. You know, and I just

1:44.6

don't think we hear enough about these sorts of businesses. They're underrepresented online because

1:50.1

the people that grow successful, founder-controlled bootstrap businesses, you know, 90% of the

1:56.3

time, they don't benefit from telling other people like, hey, I'm making great money doing all this.

2:01.4

You know, they're busy with their families.

2:03.9

They're busy growing their businesses.

2:05.5

They're not online like me and Ian talking about it all day long.

2:08.6

So I'm so glad that Jeff decided to allow us to peek over his shoulder while he does this.

2:13.6

Now, just to circle back as a quick reminder, Jeff's business is called LTV Machine.

2:19.4

Of course, every entrepreneur needs to be quick on the pitch.

...

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