#768 “Lifestyle Business” vs “Real Business”

Go from being trapped in the job you’ve built for yourself to building a wealth-generating machine. Dan & Ian challenge service businesses to determine their LTV to CAC ratio so they can improve their cashflow and run a “real” business that gives them the lifestyle they want. Calculating the LTV to CAC ratio may sound hard (and boring), but it’s no harder than solving all those other things you’re struggling with in your business. Also, Dan’s hot take on the digital nomad ratio and being “relatively” wealthy. Plus, one lucky listener (and email subscriber) will win a free ticket to this year’s DCBKK (over $1,000 value) in October. Details on how to enter in this week’s newsletter. Subscribe to the TMBA newsletter. Connect with us: Dan: @TropicalMBA or [email protected] Ian: @AnythingIan or [email protected] Chapters: (00:01:00) Free Ticket to Our Next Event (00:04:49) Business Breakdown Series (00:06:50) Understanding the LTV to CAC Ratio (00:08:08) Scaling a Service Business (00:18:33) Lifestyle Business vs Real Business (00:20:40) Easier to Run a Real Business (00:26:00) Understanding Key Metrics (00:29:47) High Fidelity Problem-Solving (00:35:03) The Digital Nomad Ratio (00:36:10) Living Like the Wealthy Useful links: Connect with other entrepreneurs Coaching for $250K+ founders Community for 1M+ founders Hire remote talent Find a remote job Listen on YouTube Follow us on Instagram 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: “3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree The Anti-Agency Agency + High ROI Customer Acquisition The Secret Weapon to Pricing Power