One of our favorite things about this podcast is that we get to talk to people who have inspired us and entertained us over the years.

Matt Farah is certainly one of those people.

Matt is somewhat of a pioneer in the automotive journalism community on the internet. His long-running YouTube channel The Smoking Tire and his podcast of the same name are both incredibly popular, and among our very favorites.

Matt was gracious enough to talk to us on this podcast back in 2016 about breaking through on YouTube, and since we last spoke to Matt a lot has changed in his life.

Matt joins us today to talk about how his YouTube channel and podcast have grown over the last four years, and why he is choosing to diversify the money that he earned on YouTube into a somewhat unorthodox brick-and-mortar investment.

TMBA561: The Smoking Tire

With 10M+ downloads and thousands of listener meetups worldwide, the TMBA Podcast is the hub for 7 & 8-figure founders who’ve built life-changing businesses while attaining personal freedom. New episodes every Thursday morning.

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The hard part shouldn’t be how to implement an OS in your organization. The hard part is answering the question: Are the right people in the right roles at your company? 

In this episode, Dan and Ian share their own OS that’s extremely simple. It’s called GPS. They’ll explain how GPS helps you put a plan in place to meet your goals, and deliver on that plan. That’s it. 

Also, hiring for specific tasks, the impact of remote work on hiring, and more. 

Dan & Ian’s Stuff:

Our book: Before the Exit

The Newsletter

“The DC”

DC Black

Global events

Hire remote talent

Find a remote job

Listen on YouTube

Follow on Instagram

@TropicalMBA

@AnythingIan

Chapters 

● (00:00:41) Introduction and 'Meaty Shorts' Format

● (00:06:48) Hiring for Specific Tasks in a Business

● (00:15:55) Minimum Viable EOS (GPS) Implementation

● (00:16:27) Implementing the EOS System: The GPS Framework

● (00:18:54) Using Scorecards for Clarity and Accountability

● (00:25:06) The Importance of Regular Check-ins and Standing Meetings

Links:


  Dan Martell - Who to Hire Next
  The EOS Business Model 
  Scorecard template (G doc)


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:

Do Things That Don’t Scale

Three Phases to 1 Million in Revenue

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

#750 What is the Most Simple OS for <$5M?

In this episode, Ian and Dan discuss the concept of doing things that don't scale, inspired by Paul Graham's influential article 'Do Things That Don't Scale.' They explore the idea of taking risks and gambling in entrepreneurship, and how it relates to increasing one's locus of control. The conversation covers various strategies for founders, including recruiting users manually, building something fragile, delighting users, focusing on experience, and niche marketing. In this conversation, Ian and Dan discuss Paul Graham's article 'Do Things That Don't Scale' and explore the principal themes and takeaways. They cover topics such as the idea of scaling, fabricating products yourself, consulting and acting as an anchor client, going manual and doing unscalable laborious tasks, the illusion of big launches and partnerships, vectors vs. scalars (ideas and execution), and the temptation to gamble and the importance of locus of control.

Our book: Before the Exit

The Newsletter

“The DC”

DC Black

Global events

Hire remote talent

Find a remote job

Listen on YouTube

Follow on Instagram

@TropicalMBA

@AnythingIan

Chapters 

● (00:00:47) Introduction and Waking Up Early

● (00:01:58) The Concept of Taking Risks and Gambling

● (00:03:52) Introduction to Paul Graham and Y Combinator

● (00:05:37) The Importance of Doing Things That Don't Scale

● (00:10:00) Recruiting Users Manually

● (00:12:48) Building Something Fragile

● (00:20:48) Niche Marketing

● (00:23:02) The Facebook and the Idea of Scaling

● (00:24:53) Consulting and Acting as an Anchor Client

● (00:27:17) Going Manual and Doing Unscalable Laborious Tasks

● (00:30:08) The Illusion of Big Launches and Partnerships

● (00:34:54) Vectors vs. Scalars: Ideas and Execution

● (00:38:36) The Temptation to Gamble and the Importance of Locus of Control

Links:


  Paul Graham’s Article “Do Things That Don’t Scale”
  Lao Tzu - Philosophy


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:

Three Phases to 1 Million in Revenue

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

#749 Do Things That Don’t Scale

Dan and Ian discuss the different phases of bootstrapping a business and the common challenges that arise at each stage. They walk through three phases: Zero to $250k “Mindset”; $250k to 1 million "We're seeking a reliable/repeatable source of new customers"; and $1 million + "We need to hire, fire, improve/change team members more effectively”. They explore everything from adjusting the offer to the marketplace and developing a strong customer base to making a rule that the founder should be responsible for growth up to $5M. 

They also explore the crucial role that team composition plays in the professionalization of the company. Finally, they discuss the decision between maximizing profitability and scaling the business.

Dan & Ian’s Stuff:

Our book: Before the Exit

The Newsletter

“The DC”

DC Black

Global events

Hire remote talent

Find a remote job

Listen on YouTube

Follow on Instagram

@TropicalMBA

@AnythingIan

Chapters 

● (00:00:43) Introduction and Era Change

● (00:04:28) Mindset for Early Stage Bootstrapping

● (00:08:35) Running a Shit Ton of Experiments

● (00:19:34) Customer Development and Adjusting the Offer

● (00:23:37) Founder's Responsibility for Growth

● (00:24:28) Founder's Role in Growth Until $5 Million

● (00:25:29) Following Strategies That Work for the Majority

● (00:26:41) Celebrating the Achievement of $1 Million in Revenue

● (00:29:18) Transitioning from $1 Million to $5 Million

● (00:34:07) The Importance of Team Composition

● (00:34:22) Shifting Focus to Managing a Team

● (00:39:19) Maximizing Profitability vs. Scaling

Links:


  Simple Numbers by Greg Crabtree
  Exploitative Play in Live Poker


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:

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

A Podcast About Shiny Object Syndrome

#748 Three Phases to 1 Million

Dan talks to Jordan Gal, founder of Rally and co-host of the Bootsrapped Web podcast about challenges in the ecommerce space, product-market fit and demand, partnerships and veto power, the quietness of crypto, risking other people’s money, and more… 

There’s one thing that founders tend to really struggle with when it comes to growing their business and that’s getting the right team in place. Listen as Jordan shows Dan how and why he fires unfit team members. 

Dan & Ian’s Stuff:

The Newsletter

“The DC”

DC Black

Global events

Hire remote talent

Find a remote job

Listen on YouTube

Follow on Instagram

@TropicalMBA

@AnythingIan

Chapters


  (00:04:22) News Update
  (00:05:58) From Player to Coach
  (00:06:50) Jack Welch 
  (00:12:10) Bootstrapping vs Raising Money
  (00:15:52) Product-Market Fit and Adjustments
  (00:18:57) Partnerships and Veto Power
  (00:20:42) Deciding When to Pivot
  (00:36:27) Firing and Personnel Decisions
  (00:43:30) The Quietness of Crypto
  (00:48:05) Challenges in E-commerce
  (00:57:30) Impact of Having a Family


Links:


  Bootsrapped Web podcast
  Jordan on Twitter
  Rally 
  Winning


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:

A Shopify Software Business Success Story (Jordan Gal)

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

A Podcast About Shiny Object Syndrome

#747 Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

Dan & Ian talk to John Doherty, the founder of Editor Ninja, former owner of Credo, and cohost of the Working Sessions podcast about three major trends he’s seeing in the agency space that could impact your strategy and profitability for the year and beyond. 

John talks about the challenges of running a full-service agency, a shift towards specialization in productized services, the need for outsourced strategic layers, focusing on profitability, and more. 

Stick around for the guys to reveal six productized-service business ideas.

Dan & Ian’s Stuff:

The Newsletter

“The DC”

DC Black

Global events

Hire remote talent

Find a remote job

Listen on YouTube

Follow on Instagram

@TropicalMBA

@AnythingIan

Chapters


  (00:02:04) News with Dan & Ian
  (00:05:20) Introducing John Doherty
  (00:06:46) Starting Credo and EditorNinja
  (00:09:30) Trends in the Agency Space
  (00:11:27) Building a Strategic Program
  (00:28:10) Focus on Profitability
  (00:30:40) Importance of Work Quality
  (00:31:55) Categories for Business Opportunities
  (00:32:42) Software Quality Assurance as a Service
  (00:35:57) TikTok Titan: Leveraging TikTok for Business
  (00:38:54) SAAAS: Systems Automation as a Service
  (00:40:28) Managed VA Service for Social Media
  (00:43:57) Fractional Business Strategist
  (00:45:23) Financial Dashboard as a Service
  (00:50:44) Workbooks for Business Metrics


Links:


  Find John on Twitter
  EditorNinja


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

Additional episodes you might enjoy:

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

A Podcast About Shiny Object Syndrome

TMBA561: The Smoking Tire

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