#827 Wealth Without a 7-Figure Exit: 5 Steps

Listen to this episode from Tropical MBA: Entrepreneurship & Founder Lifestyle on Spotify. Dan and Ian share 5 money tips for bootstrappers—from prioritizing personal finance and investing to getting in the company of other entrepreneurs. Follow this playbook and you could build wealth without a 7-figure exit (spoiler: only about 5% of businesses achieve this.) Free resource below! LINKS Share your thoughts on the podcast (takes 2 mins) (https://getperspective.ai/interview/tmba-feedback) This week’s sponsor: SPP.co “Your billing, onboarding & projects in one client portal” (https://spp.co/) This week’s sponsor: Smash Digital “Scale your organic traffic with future-proof strategies” (https://smashdigital.com/) FREE RESOURCE: Personal Financial Dashboard for Bootstrappers (https://docs.google.com/spreadsheets/d/1Li7LuETq2k8tfXSC9WrB-xTwtm_YOkxZOFBOT-bk8CM/edit?gid=1717697031#gid=1717697031) Olly Meaking’s musings on entrepreneurship and crossing 7 figures ARR: (https://x.com/helloitsolly/status/1971549899188580447) Hang out with us at DCBKK this month (https://dynamitecircle.com/dcbkk) Connect with 7+ figure founders and join us in NYC this December (https://dynamitecircle.com/dc-black) 22 FREE business resources for location-independent entrepreneurs (https://tropicalmba.com/resources) CHAPTERS Audio: (00:00:50) How Dan Got Fired For Having Too Many Ideas (00:02:07) 5 Money Tips for Bootstrappers (00:03:00) Tip #1: Focus on Your Knowledge, Skillset, and Business Model (00:04:14) Case Study: Olly Meakings, Founder of Senja.io (00:07:13) Tip #2: Be Realistic About Your Liquidity Potential (00:11:42) Tip #3: Keep Your Second Bottom Line Sacred (00:16:47) Sponsor Shout-out: Smash Digital (00:17:43) Sponsor Shout-out: SPP.co (00:18:44) Tip #4: Be a Bull About 1 Non-Business Thing (00:23:47) Tip #5: Surround Yourself With Other Entrepreneurs CONNECT: [email protected] [email protected] 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, Justin Tan, Matt Gartland, Ayman Al-Abdullah, Lucy Bella. PLAYLIST: How to Get Rich on X With a Fake Persona (https://tropicalmba.com/episodes/get-rich-fake-persona) How to Instantly Improve Your Lead Pipeline by 20-50% (https://tropicalmba.com/episodes/improve-your-lead-pipeline) Why $120K From Your Biz Beats $150K at a Job (https://tropicalmba.com/episodes/balancing-wealth-freedom-mindset)