TMBA509: The Difference Between Value and Money
Tropical MBA: Entrepreneurship & Founder Lifestyle
Dan Andrews; Ian Schoen
4.9 • 527 Ratings
🗓️ 5 September 2019
⏱️ 44 minutes
🧾️ Download transcript
Summary
A listener of this podcast recently reached out to Dan and Ian to let them know what he was up to.
They were so inspired by his story of "old-school" entrepreneurship that they knew they needed to invite him on to the show to share it.
Nick Huber is one of the founders of Storage Squad, a storage company that he started with his business partner Dan in 2011 and has grown to nearly 3 million dollars in sales. Recently, they have begun diversifying into self-storage as well.
Nick joins us this week to share the story of Storage Squad, how he and Dan got it off the ground while they were still in college, how they have expanded it to other colleges throughout the United States, and the advantages of running a location-dependent business remotely.
Transcript
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| 0:00.0 | I mean, you and Ian talk all the time about the difference between value and money. |
| 0:04.3 | We realized that we could make more money in the short term by getting out and laboring and doing the work ourselves. |
| 0:09.3 | But to add value to the business and to increase profitability next year and the year after that, |
| 0:14.9 | we had no choice but to spend our time hiring, training, managing, marketing, getting customers. |
| 0:21.7 | So that's when we really shifted and turned in entrepreneurs, in my opinion. |
| 0:28.5 | Hey, podcast, listener. |
| 0:30.0 | Even if you are alone in your entrepreneurial journey, know that today, right now in your |
| 0:34.0 | earbuds, you are joined by thousands of entrepreneurs from all around the globe seeking to grow better, more profitable, location independent businesses. |
| 0:42.7 | If you'd like to learn more about what we do and download our entire back catalog, check out tropical MBA.com. |
| 0:59.4 | Welcome! Welcome back to the pod. So many of your listeners. |
| 1:00.7 | I know you have been around for years and say, bring back some of the old school |
| 1:07.1 | apps, some of the old school mentality. |
| 1:10.3 | Well, this episode may not be in the old style, |
| 1:13.8 | but the mindset, the philosophy is one we're called old school entrepreneurship. Even on our |
| 1:20.4 | about page, we say one of the things we like to talk about on this podcast is old school, |
| 1:25.7 | like basically the opposite of what Silicon Valley talks about. Silicon Valley is |
| 1:29.7 | like, you know, entrepreneurship is this crazy difficult struggle. You got to figure out a new |
| 1:35.5 | idea that you're not competing with anybody and you got to do this and you got to do that. |
| 1:39.8 | Well, a lot of times on the show, we say, you know what? If you're listening to a podcast like this, |
| 1:45.1 | you know more about the benefits of technology, both for automation and marketing, |
| 1:50.3 | than 90% of small businesses in the world. So why do most of us then choose to go compete |
| 1:56.8 | with each other? We choose industries where it's the 10% of the tech heads all competing against each other. |
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