Sign up to save your podcasts
Or
Share #756 - The Million Dollar Service Business Playbook
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
#756 - The Million Dollar Service Business Playbook
In this week's episode Dan and Ian discuss the importance of the concept of Labor Efficiency Ratio (LER), to scale your business to a million dollars in revenue.
They highlight the challenge of transitioning from being a craftsperson to a CEO and the importance of building a profitable business model that can operate without the founder's constant involvement.
They continue this concept by focusing on the importance of financial planning and analysis (FP&A) in growing a business.
Having someone to provide structure and make data-driven decisions can lead to some shocking discoveries and help you identify areas for improvement and optimize your business performance.
The conversation concludes with a recap of the DC Mexico event and a call for referrals for future events!
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
● (00:00:42) Introduction and Catching Up
● (00:01:40) DC Accelerator and Financial Planning and Analysis (FP&A)
● (00:07:28) Using Labor Efficiency Ratio (LER) to Scale
● (00:14:49) The Challenge of Transitioning from Craftsperson to CEO
● (00:21:50) The Importance of Profitability and Compensation
● (00:25:06) Building a Profitable Business Model
● (00:28:19) The Role of Hiring and Financial Planning and Analysis
● (00:29:20) Differentiating Financial Planning and Analysis from Bookkeeping and CPA
● (00:40:05) Recap of the DC Mexico Event
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:
Run Any Business with Just Two Simple Things
Mastering Consistency with Adam Gilbert
Lessons From an 18-Month Trip Around the World on $100 a Day
View all episodes
By Dan Andrews; Ian Schoen
4.9
467467 ratings
In this week's episode Dan and Ian discuss the importance of the concept of Labor Efficiency Ratio (LER), to scale your business to a million dollars in revenue.
They highlight the challenge of transitioning from being a craftsperson to a CEO and the importance of building a profitable business model that can operate without the founder's constant involvement.
They continue this concept by focusing on the importance of financial planning and analysis (FP&A) in growing a business.
Having someone to provide structure and make data-driven decisions can lead to some shocking discoveries and help you identify areas for improvement and optimize your business performance.
The conversation concludes with a recap of the DC Mexico event and a call for referrals for future events!
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
● (00:00:42) Introduction and Catching Up
● (00:01:40) DC Accelerator and Financial Planning and Analysis (FP&A)
● (00:07:28) Using Labor Efficiency Ratio (LER) to Scale
● (00:14:49) The Challenge of Transitioning from Craftsperson to CEO
● (00:21:50) The Importance of Profitability and Compensation
● (00:25:06) Building a Profitable Business Model
● (00:28:19) The Role of Hiring and Financial Planning and Analysis
● (00:29:20) Differentiating Financial Planning and Analysis from Bookkeeping and CPA
● (00:40:05) Recap of the DC Mexico Event
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:
Run Any Business with Just Two Simple Things
Mastering Consistency with Adam Gilbert
Lessons From an 18-Month Trip Around the World on $100 a Day
More shows like Tropical MBA: Entrepreneurship & Founder Lifestyle
View all
Startups For the Rest of Us
700 Listeners
Niche Pursuits Podcast: Find Your Next "Niche" Business Idea!
192 Listeners
a16z Podcast
1,092 Listeners
The SaaS Podcast: Build, Launch & Scale Your SaaS
185 Listeners
Built to Sell Radio
210 Listeners
Founders
2,113 Listeners
Noah Kagan Presents
902 Listeners
Y Combinator Startup Podcast
236 Listeners
My First Million
2,641 Listeners
Acquisitions Anonymous - #1 for business buying, selling and operating
248 Listeners
The Startup Ideas Podcast
205 Listeners
Marketing Against The Grain
358 Listeners
OPERATORS
49 Listeners
Moneywise
650 Listeners
The Koerner Office - Business Ideas and Small Business Deep Dives with Entrepreneurs
219 Listeners