- #320 - Interviewing Andrew Gazdecki About How To Sell a Bootstrapped Startup
Have you ever wondered about the process of selling startups? In this podcast episode I had the pleasure of interviewing Andrew Gazdecki, the founder of Acquired.com.
We dive into his experience of scaling his company and the significance of having a distribution mindset and a strong team. Join us as we explore the importance of delegation, hiring the right people, and understanding the buyer's perspective when selling a business.
Plus, Andrew shares some fantastic marketing strategies and emphasizes the importance of creativity and uniqueness.
The world of selling startups (00:01:20)
Discussion about the nuances and misconceptions of selling startups, including the common belief of multiplying revenue by ten as the selling price.
Branding and marketing techniques (00:02:29)
Exploration of the importance of brand awareness and marketing techniques that may not bring immediate customers, and how to measure their effectiveness.
Entrepreneurial background and early businesses (00:04:46)
Andrew's upbringing in a beach town, his curiosity about wealth, and his early experiences starting businesses as a means to acquire money and the things he desired.
Financial Literacy and Parental Money Management (00:10:40)
Discussion on the lack of financial literacy and the challenges faced by parents in managing money.
Possibility of Wealth for Individuals from Poor Backgrounds (00:11:54)
Exploration of whether it is possible for anyone from a poor family to become wealthy, highlighting the importance of taking action and not making excuses.
Mental Resilience and Problem-solving in Entrepreneurship (00:13:33)
The impact of overcoming hardships on building mental resilience and problem-solving skills in entrepreneurship, emphasizing the ability to love and work through challenging situations.
The shift to white labeling and distribution strategy (00:20:16)
The speaker discusses how they partnered with an agency in Switzerland to white label their software, leading to a boom in sales and a shift in target customers.
Transition from selling to small businesses to selling to agencies (00:21:25)
After the partnership with the agency, the speaker's company started selling packages of mobile apps to agencies, resulting in a significant increase in sales and a shift in the sales process.
Importance of distribution mindset and building a team (00:26:26)
The speaker emphasizes the shift from product development to distribution mindset and the importance of building a team to handle various aspects of the business, such as marketing, sales, customer support, and product development.
The importance of realistic entrepreneurship portrayal (00:31:06)
Discussion on the shift in entrepreneurship coverage and the need for a more realistic view.
Selling a goal, lifestyle, and viewpoint (00:33:05)
Exploration of the power of selling beyond the product, using Nike as an example.
Defining success and the role of teams (00:36:34)
Reflection on the different paths to success and the choice to work alone or with a team.
The topic of delegating tasks (00:41:22)
Discusses the importance of delegating tasks that hold you back and that you dislike, in order to focus on high-impact activities within the business.
The topic of hiring engineers (00:42:15)
Shares a personal experience of hiring engineers through a job board and Upwork, emphasizing the importance of trust and recommendations when evaluating talent.
The topic of valuing and selling a business (00:44:14)
Explores the possibility of selling a business, evaluating its worth based on what someone is willing to pay and considering the buyer's perspective. Discusses the complexities of valuations, financial buyers, and the importance of running a competitive process to maximize valuation.
The terms of selling a business (00:51:18)
Discussion on the terms of selling a business, including the desire for a clean break, all cash on close, and quick due diligence.
The process of selling a business (00:53:56)
Exploration of the process of selling a business, including lowballing the initial valuation, attracting buyers, and creating urgency through a deal schedule.
Benefits of buying bootstrap businesses (00:56:50)
Explanation of why buyers are interested in acquiring bootstrap businesses, such as cleaner cap tables, niche products, profitability, and capital efficiency.
Financial Buyers (01:01:35)
Financial buyers are interested in profitable businesses with low churn and reliable recurring revenue.
Strategic Buyers (01:01:37)
Strategic buyers look for products that can help them enter new markets or add to their product suite for cross-selling.
Private Equity Firms (01:02:45)
Private equity firms, like the one mentioned, acquire startups every week and may cross-sell products or hold profitable businesses.
Valuing a business based on profitability (01:11:53)
Discussion on how buyers value a business based on profitability rather than revenue.
Measuring the impact of branding (01:15:11)
Discussion on measuring the impact of branding, including tracking Google searches and the importance of word of mouth marketing.1h 24m | Dec 1, 2023
- #319 - From Cheating at a Podcast Festival to Sponsoring It
Let me take you on a rollercoaster journey through my experiences. This week, I've experienced both the highs and lows of this exciting world of indie hacking. Join me as I share the challenges of running PodSqueeze and managing co-founder relationships. I will also speak about our most recent sponsored event and gaining recognition in the Portuguese market.
Tiago's sister starts her podcast (00:01:23)
Tiago's sister starts her own podcast during the pandemic and receives positive feedback for her comedic content.
Tiago hacks the podcast festival website (00:04:37)
Tiago hacks the website of a podcast festival to increase his sister's chances of winning an award.
Pod Squeeze sponsors the podcast festival (00:06:44)
Pod Squeeze, Tiago's company, sponsors and organizes events at the podcast festival, leading to networking opportunities and potential clients.
Tiago's Oscars Speech (00:10:34)
Tiago talks about his sister being nominated for a podcasting prize and giving a speech at the awards ceremony.
Ungrateful Prize Winner (00:12:18)
Tiago discusses the incident where the prize winner publicly stated that they didn't need the prize, causing frustration.
Conflict with Co-Founder (00:16:06)
Tiago explains the conflict between him and his co-founder regarding the importance of networking and measuring success.
The overwhelmed feeling of being bootstrapped (00:19:57)
Tiago discusses feeling overwhelmed with the various aspects of his business and the frustration of not being able to move forward due to the lack of resources.
The growth of the indie hacker movement (00:20:50)
Tiago talks about the positive development of the indie hacker movement, its increasing popularity among entrepreneurs, and the interview of an indie hacker on a Portuguese TV show.
Tiago's interview on a Portuguese podcast (00:22:03)
Tiago shares his happiness about being interviewed for a Portuguese podcast and being able to discuss his work and experiences with his family.24m | Nov 24, 2023
- #318 - How Makers Take the Most Out Of a Tech Conference
What it's like to attend a major tech conference like the Web Summit? Well, in this episode, I'll be sharing my personal experiences from the event. Despite all the controversy and big tech companies dropping out, the turnout was massive! I'll be discussing my networking strategies, like using the event app to connect with people and finding a quiet area for meetings. I'll also open up about my struggles with social anxiety at networking events. Plus, I'll emphasize the importance of business cards and share some interesting interactions with industry professionals.
Finding Success at Web Summit (00:01:23)
Tiago discusses his experience at the Web Summit tech conference, including controversies, ticket acquisition, and preparation tips.
The Overwhelming Nature of Web Summit (00:02:33)
Tiago describes the overwhelming size and structure of the Web Summit, with multiple pavilions, talks, booths, and an app for networking.
Networking and Scheduling at Web Summit (00:06:38)
Tiago shares his strategy for networking at the conference, including using the app to connect with people, scheduling back-to-back talks, and finding a quiet meeting area.
Blushing and Social Anxiety (00:10:31)
Tiago discusses his experience with blushing and social anxiety, how it affects his interactions, and the potential connection to anxiety or phobia.
Awkward Networking Events (00:11:29)
Tiago talks about feeling awkward during networking events, particularly when approaching people and breaking the ice.
Interactions and Insights from Podcasters (00:12:20)
Tiago shares his interactions with podcasters and people in the industry, discussing the struggles of podcasting, learning about Spotify's role, and offering help and advice.
The card is an effective networking tool (00:19:31)
Tiago discusses how he used his business card to approach someone and make a connection.
Offering a discount on the card (00:20:18)
Tiago explains how his business card also includes a discount and information about his product.
The podcast has a strong and supportive community (00:21:03)
Tiago expresses gratitude for the listeners and mentions the active community of indie makers who support the podcast.24m | Nov 17, 2023
- #317 - This Was Probably My Biggest Mistake Ever
Have you ever made a critical mistake that had a significant impact on your business? In this episode, I'll be sharing my own experience as the co-founder of Podsqueeze. Blocking the upload feature to combat fake accounts seemed like a good idea at the time, but it ended up causing a decrease in user engagement and revenue. I'll be discussing the importance of data-driven decisions and monitoring metrics. Plus, I'll be sharing my frustrations with high taxes and corruption in Portugal, and why I believe in advocating for change rather than relocation.
Blocking the Upload Feature (00:02:42)
Tiago discusses his decision to block the upload feature on Pod Squeeze to prevent fake accounts and the impact it had on reducing the number of fake accounts.
Revenue Decline Concerns (00:07:02)
Tiago and Joanne express their worries about the declining revenue of Pod Squeeze and discuss the possible reasons behind it.
Increase in Empty Accounts (00:09:19)
Tiago analyzes the increase in empty accounts on Pod Squeeze after blocking the upload feature and realizes that it may have negatively impacted conversion rates.
The Mistake (00:10:23)
The speaker discusses a mistake they made by not testing a feature, resulting in a decrease in conversion rates.
The Confusion (00:12:13)
The speaker discusses their confusion about the unexpected increase in conversion rates despite fewer people trying out their product.
The Changes and Decisions (00:16:27)
The speaker talks about rolling back changes, allowing one upload per free account, and the importance of plotting and monitoring metrics.
The taxes in Portugal (00:20:28)
Discussion about the complexity and high rates of taxes in Portugal for entrepreneurs.
Corruption scandal in Portugal (00:21:39)
Frustration and powerlessness regarding the corruption scandal involving the prime minister and ministers in Portugal.
Interviews and podcast updates (00:23:50)
Mention of an interview with Dagobert about mental health and an upcoming interview with Andrew Decky. Also, mention of Mark selling his business and his AMA episode.27m | Nov 10, 2023
- #316 - Interviewing Dagobert About How to Avoid Burnout as a Founder
Have you ever experienced burnout and its impact on your health? Well, Dagobert shares his personal experience with burnout and how it led to a significant shift in his work-life balance. We also dive into the importance of therapy for mental health and how it played a crucial role in Dagobert's recovery.
The challenges of becoming official (00:04:43)
Tiago and Dagobert discuss the process of becoming an official company and the frustrations and complexities they faced with the tax system.
The benefits of using Lemon Squeezy (00:06:57)
Dagobert explains how using Lemon Squeezy as a merchant of record can simplify the tax burden and accounting process for online businesses.
The complexities of the tax system (00:10:16)
Tiago and Dagobert discuss the complicated nature of the tax system, including the different tax rates in different countries and the deductions that can be made to reduce taxes.
The burnout and realization of goals (00:11:21)
Tiago discusses his burnout and how he became obsessed with reaching a monthly income of $10,000, only to realize it didn't solve all his problems.
The risks and peace of mind (00:12:09)
Tiago talks about the peace of mind he feels with his recurring income, although there is a small chance it could go to zero.
The collapse and symptoms of burnout (00:18:10)
Dagobert describes the moment his body broke down due to burnout, experiencing symptoms such as racing heart, tingling sensations, and anxiety.
The burnout realization (00:22:24)
Speaker 2 discusses how he initially dismissed the idea of burnout but eventually realizes that it is the cause of his symptoms.
Impact on the business and relationship (00:25:16)
Speaker 2 explains how his burnout affected the business and caused stress for his partner, leading to the collapse of the business.
Living in constant stress (00:27:43)
Speaker 2 reflects on how he got used to living in constant stress and denial as an entrepreneur, leading to his burnout.
The challenges of relying on Twitter for income (00:31:59)
Speaker 2 discusses the stress and pressure of depending on Twitter for income and the need to go viral.
Dealing with burnout and self-care (00:33:02)
Speaker 2 shares their experience of burnout and the steps they took to address it, including meditation, journaling, and therapy.
Transitioning to a job and financial stability (00:34:04)
Speaker 2 talks about the decision to find a job for financial stability and the relief it brought to both themselves and their partner.
The trust and autonomy in the new job (00:42:46)
Speaker 2 talks about being given complete autonomy in their new job as a product manager and the trust placed in them by the company.
The value of experience and skills (00:44:16)
Speaker 1 and Speaker 2 discuss how the skills and experience gained over the years have made Speaker 2 valuable in their current role.
Success and recognition in the startup (00:49:41)
Speaker 2 reflects on how their past failures and experiences in building startups have been recognized and valued by the founders of the current startup they work for.
The beginning of the entrepreneurial journey (01:00:17)
Tiago discusses the criteria that would make him sell his business and the challenges he may face in the future.
Lucy's current situation (01:02:06)
Dagobert talks about how Lucy is still trying to make the business work and the financial struggles she is facing.
Differences in moving on (01:05:46)
Dagobert explains how he has moved on from the business while Lucy is still trying to find a way to make it work, despite the challenges she faces.
Recognizing and Preventing Burnout (01:10:35)
Discussion about the importance of recognizing burnout and tips for preventing it, including the recommendation of therapy.
The Importance of Finding the Right Therapist (01:11:36)
Speaker 2 shares his skepticism about therapy and the importance of finding a therapist who understands the body and can provide a different perspective.
Unlocking Stuck Energy in the Body (01:17:12)
Explanation of how therapy can help unlock stuck energy in the body, leading to more clarity and the ability to make decisions.
The decision-making struggle (01:20:00)
The speakers discuss the struggle of decision-making and how it can be influenced by fear and hesitation.
The importance of therapy for founders (01:21:06)
They discuss the benefits of having a therapist by your side as a founder, helping to provide clarity and objectivity in decision-making and potentially saving time and avoiding ego-driven decisions.
Couples therapy for co-founders (01:23:14)
They explore the idea of co-founder therapy and how it can help address issues and improve communication between co-founders, potentially preventing mistakes and improving the overall success of the startup.
Regaining Power and Mental Support (01:29:30)
Tiago compares being an entrepreneur to being an athlete and discusses the importance of mental support in achieving success.
Learning Soft Skills and Balancing Work (01:30:50)
Dagobert talks about learning soft skills, finding balance, and prioritizing health and enjoyment in his work.
New Powers and Taking a Different Approach (01:33:03)
Dagobert shares his new perspective on work, focusing on having productive and meaningful hours rather than overworking himself.1h 36m | Nov 4, 2023
- #315 - How to Sponsor a Conference with your Indie Business
Have you ever sponsored a conference to grow your business? In this episode, I, an indie maker, and my co-founder Joao, dive into our experience sponsoring a conference in Berlin for our company, Podsqueeze. We were initially worried about being scammed, but we ended up sealing a sponsorship deal for $700. I chat about the perks of attending such events, like networking and potential client acquisition. However, we also faced challenges, like feeling uncomfortable with aggressive self-promotion. Despite the setbacks, we made valuable connections. Tune in as I reflect on the importance of having an official presence and the value of networking at conferences.
Introduction to sponsoring a conference (00:01:30)
The host explains why he and Joao decided to sponsor a conference in Berlin and the importance of marketing.
Finding a conference to sponsor (00:02:48)
The host discusses the difficulty of finding affordable conferences to sponsor and how they discovered Pod Fest Berlin.
Preparing for the conference (00:09:15)
The host talks about their preparations for the conference, including designing t-shirts and getting flyers and banners ready.
The organization of the event (00:12:09)
The speaker discusses the lack of effort in organizing the event and the disappointment of not having many podcasting-related activities.
Meeting other sponsors (00:13:07)
The speaker talks about meeting the other sponsors of the conference, including representatives from Prodigy and McKee.
Feeling ignored and demotivated (00:17:48)
The speaker shares their frustration with being ignored by some podcasters and feeling demotivated after a long day of networking.
Distributing the Flyers (00:21:33)
The host talks about his experience distributing flyers at the conference and the mixed reactions he received from people.
Creating an Official Pod Squeeze Booth (00:22:18)
The host describes how they set up a table with their laptop and flyers to create an official booth for Pod Squeeze, which changed the way people perceived them.
Exploring Partnerships (00:23:12)
The host discusses their efforts to close partnerships with other companies, including discussing a potential API integration with Podigee and exploring a collaboration with Mackie for a giveaway.30m | Oct 26, 2023
- #314 - Interviewing Daniel about the Ups and Downs of Building Wundertax
I am interviewing Daniel, the CEO of Wundertax. He takes us on a journey from Hong Kong to Germany, sharing his experiences in entrepreneurship and the creation of Wundertax. We dive into the challenges of starting a business, securing funding, and navigating co-founder dynamics. Daniel also shares insights from his time in Amsterdam and how Wundertax focuses on customer needs and market trends. Tune in for a fascinating discussion on startups, entrepreneurship, and the complexities of tax filing.
The Ups and Downs of Daniel's Journey [00:00:30]
Daniel, the CEO of Wundertax, shares his experiences and challenges as a founder.
Wunndertax: Making Taxes Simple [00:01:27]
Daniel introduces Wonder Tax, a tool that simplifies the tax process, and discusses its benefits.
From Hong Kong to Germany [00:02:05]
Daniel talks about his background, growing up in Hong Kong, studying in Germany, and his experiences working for Rocket Internet and Foodpanda.
Pressure from families and the issue of affordability in Hong Kong [00:09:51]
Discussion about the pressure from families and the high cost of living in Hong Kong, leading some young people to move to other countries.
Entrepreneurial background and first business idea [00:11:05]
Conversation about Daniel's family background and his early interest in entrepreneurship and building things.
Building the first version of the tax tool and its success [00:13:50]
Explanation of how they built the minimum viable product (MVP) using an Excel sheet and freelancer, and the subsequent viral success of the tool.
The problem is more important than the solution [00:20:20]
Discussion on the importance of focusing on solving customer problems rather than coming up with innovative solutions.
The process of building a business and product people want [00:22:13]
Talk about the importance of having a vision but also considering the needs and wants of customers when building a business.
The marketing mix and peak revenue during tax deadline [00:26:09]
Explanation of the marketing strategies used, including Facebook marketing and Google ads, and the significant increase in revenue during the tax deadline period.
Building Monetization [00:29:02]
Daniel discusses the decision to introduce monetization to their platform and the positive response from customers.
Raising Series A Funding [00:32:05]
Daniel talks about the ease of raising funding after implementing monetization and the process of negotiating with investors.
Growing the Team and Spending Money [00:37:48]
Daniel describes how they used the funding to hire more employees, expand their office, and throw parties, while also feeling pressure to deliver on their promises.
The decision to become CEO [00:38:38]
The speakers discuss how the CEO is typically the more outgoing and investor-facing role in a company, while the COO is more inward-facing.
The challenges of growth and profitability [00:39:36]
The speakers talk about the pressure to continuously raise funds and grow, and how some companies struggle to become profitable.
The decision to part ways with the co-founder [00:44:22]
The speakers discuss the conflicts and disagreements between the CEO and co-founder that led to the decision to no longer work together.
Daniel's move to Amsterdam [00:48:31]
Daniel discusses his decision to move to Amsterdam for four years and work on a moving platform.
The challenges of raising the next round [00:50:22]
Daniel talks about the difficulties he faced in raising the next round of funding for his startup.
The downfall of the company [00:52:56]
Daniel explains the challenges faced by his co-founder and the company, leading to the departure of the CEO and most of the employees.
Starting Wonder Tax [00:57:57]
Daniel discusses the initial meeting with the team from Wonder Tax and their confusion about his ideas.
Growing the Company [00:59:00]
Daniel talks about the changes they made when he became CEO, including hiring more staff and launching new products.
Addressing the Fear of Taxes [01:05:30]
Daniel explains how Wonder Tax tries to address people's fear of doing their taxes by providing easy-to-understand content and a user-friendly tool.
The design and competition dilemma [01:08:04]
Discussion on how to navigate competition in terms of design and following other companies' paths.
The importance of mobile experience [01:10:02]
Exploration of the significance of mobile experience for easy tax cases and the focus on improving the mobile app.
Considering market demand and strengths [01:11:07]
The CEO emphasizes the need to consider customer and user preferences while also focusing on the company's strengths and current customer base.1h 13m | Oct 23, 2023
- #313 - This Is Going To Be a Huge Marketing Bet
I have some exciting news to share - our company has decided to sponsor a podcasting conference in Berlin as part of our marketing strategy. I'll be discussing our experimentation with different approaches like cold emails and automation, as well as our current focus on sponsoring conferences. Join me as I talk about my goals for attending the conference, the frustrations of non-business tasks, and the constant feeling of dissatisfaction that entrepreneurs often experience. Plus, I'll be sharing a new feature we've developed and inviting you to join me at an upcoming event in Berlin.
The conference sponsorship [00:01:29]
Thiago discusses the marketing strategy of trying different channels and scaling successful ones, including sponsoring a podcasting conference.
Testing conferences as a marketing strategy [00:02:37]
Thiago explains the decision to test sponsoring smaller conferences to reach target users and evaluate the return on investment.
Challenges with company infrastructure and bureaucracy [00:07:01]
Thiago expresses frustration with setting up the company infrastructure, dealing with taxes, and the complexity of bureaucratic processes.
The worry of losing it all [00:10:57]
Thiago discusses the common concern among entrepreneurs about the fear of losing their money and success, even when they have achieved significant wealth.
The excitement and frustrations of being an entrepreneur [00:11:54]
Thiago reflects on the excitement and fulfillment of working for himself, but acknowledges the frustrations that come with being an entrepreneur. He emphasizes the importance of loving what you do in order to succeed.
Introducing the new video clips feature [00:12:59]
Thiago announces a new feature on their platform: video clips. He explains that this feature has the potential to attract more traffic and shares his excitement about its potential success. However, he mentions that he currently lacks the time and energy to fully focus on it.14m | Oct 12, 2023
- #312 - How To Hire Top Freelancers for Your Indie Company
Have you ever wondered what it's like to hire new team members for a bootstrapped company? Well, in this episode, I'll be sharing my personal experience with hiring for my company, PodSqueeze. It all started when I hired a content agency to write ebooks, which turned out to be a success. But when we needed blog posts for SEO, we reached out to them on Twitter and decided to work on a freelance basis. Then came the time to hire a freelance developer, and the response on Twitter was overwhelming. After careful consideration, I selected Reeshav from India. Tune in to hear about my positive hiring experience and the progress we've made with Reeshav. And don't forget to support the podcast and join the indie maker community!
Hiring a Content Writer [00:01:23]
Discussion about the need to hire a content writer for SEO purposes and the unsuccessful attempt to find a cheap writer on Fiverr.
Working with a Content Agency [00:03:30]
Exploration of the decision to work with a content agency for ebook writing and the positive experience with the agency Knitting and its partners, Nithin and Kartik.
Hiring a Freelance Developer [00:06:42]
The host's desire to hire a freelance developer and the process of finding potential candidates through a simple tweet on Twitter, including the filtering process based on skills and rates.
Finding the right vibe [00:10:12]
Tiago discusses the importance of finding someone with a nice vibe and who is uncomplicated to work closely with.
The bias in video applications [00:11:03]
Tiago reflects on the bias in the video applications he received, with only one application from a woman and a majority of applications from men.
Selecting the candidates [00:12:58]
Tiago talks about selecting two candidates, one from India and one from Italy, for interviews and discusses the importance of having in-person chats to understand each other's goals and expectations.19m | Sep 27, 2023
- #311 - The Most Uncertain Times: Navigating the Ups and Downs of PodSqueeze
I'll be reflecting on the ups and downs of our journey so far, including the initial success and growth of our company. But I also have concerns about the market and AI trends. I'll be sharing my three conditions for deciding whether to continue with PodSqueeze, and expressing my unwavering passion for this project. Oh, and I'm thrilled to announce the release of our new video feature! Plus, I can't wait to tell you about my upcoming holiday plans. Connect with me on Twitter and if you're an entrepreneur looking for a supportive community, check out our select-based community. Let's dive in!
The initial success and traction [00:01:32]
Discusses the excitement and rapid growth experienced after launching PodSqueeze, reaching milestones, and the initial momentum in the AI market.
The slowing down of growth and concerns about the market [00:02:47]
Addresses the decrease in growth rate, the decline in AI trend popularity, and the uncertainty about the future of PodSqueeze in a shrinking market.
The release of the new video feature and upcoming holiday [00:08:00]
Mentions the development and release of a video feature, the stress and excitement surrounding it, and the upcoming holiday plans.
Initial success and traction [00:10:01]
Tiago mentions the initial success and traction experienced after launching PodSqueeze.
Slowing down of growth [00:10:01]
Tiago discusses the slowing down of growth for PodSqueeze.
Concerns about market and AI trends [00:10:01]
Tiago expresses concerns about the market and AI trends and how they may impact PodSqueeze.10m | Sep 22, 2023
- #310 - How To Legally Create an Indie Company and Minimize Taxes
Have you ever wondered what it takes to set up your own company? In this podcast episode, I share my personal journey of starting UserQuest and the obstacles I encountered along the way. One of the biggest challenges was finding accountants who truly understood my software-as-a-service business model and the complexities of taxation. It was frustrating to navigate through the options for managing taxes, such as setting up the company in Estonia, only to realize the potential risks involved.
Join me as I share my experiences and insights, and hopefully, you'll find inspiration for your own entrepreneurial journey.
Setting up a company [00:02:04]
Tiago discusses the process of setting up a company, specifically in Portugal or Europe, and shares his experience and learnings.
Challenges with finding an accountant [00:04:05]
Tiago talks about the difficulties they faced in finding an accountant who understood their business model and could provide accurate tax advice.
Reducing taxes [00:06:48]
Tiago explains the research and efforts they made to try and reduce their taxes, as they were being taxed at a high rate that didn't align with their online business model.
The frustrations of setting up a company [00:07:46]
Tiago discusses the frustrations he faced when seeking advice on setting up a company and the simplicity that others claimed it to be.
Investigating options in Singapore [00:08:44]
Tiago explores the idea of setting up a company in Singapore, including the lower taxes and the requirement for a stakeholder to live in Singapore.
Exploring Madeira as an option [00:09:45]
Tiago considers Madeira as a potential location for their company, the concept of fiscal paradises, and the need to live in Madeira for tax benefits.
Setting up a company in Estonia [00:15:37]
Discusses the options and tax implications of setting up a company in Estonia, including paying taxes on dividends and profits.
Double taxation and treaties [00:17:42]
Explains the issue of double taxation when living in one country and having a company in another, and how treaties can help mitigate this problem.
Legal concerns and hiring a lawyer [00:19:39]
Details the decision to hire a lawyer to determine the legality of having a company in Estonia while living in Portugal, and the potential consequences of not paying taxes in the correct jurisdiction.
Deciding on Estonia or Portugal [00:23:16]
Tiago discusses the pros and cons of setting up a company in Estonia and Portugal, including the risks and potential benefits.
Affordability of fines [00:25:29]
Tiago reflects on the ability to afford fines and how it influenced the decision to choose Portugal for their company.
Challenges with company registration in Portugal [00:27:20]
Tiago shares the frustrating process of registering a company name in Portugal, including the slow bureaucracy and issues with the registration tool.
Setting up the company [00:30:14]
The speaker discusses the challenges they faced while trying to set up their company and the decision to physically go to the finance department.
Setting up a business bank account [00:31:09]
The speaker talks about the process of setting up a business bank account and their decision to go with Revolut, an online bank.
Managing company expenses and taxes [00:33:06]
The speaker explains the concept of minimizing company profits to reduce taxes and discusses strategies to take money out of the company as expenses.
Lessons learned from the process [00:38:22]
Tiago discusses the importance of doing your own research and asking questions when it comes to finances and taxes.
The value of consulting a lawyer [00:39:30]
Tiago explains the benefits of seeking professional advice from a lawyer who understands the law and can provide reliable information.
Utilizing Chat GPT for assistance [00:40:30]
Tiago shares how they used Chat GPT for calculations and comparisons, emphasizing its helpfulness in testing different scenarios.41m | Sep 17, 2023
- #309 - Tips for Indie Makers Perform at The Highest Level
Are you an indie maker looking to perform at your best? In this episode, I dive into strategies for reaching the highest level of productivity. Discover the power of structuring your day and finding a routine that suits you. As a fellow night owl, I emphasize the importance of working with your natural body and brain rhythms. Plus, I reveal the benefits of sleep, cold showers, and intermittent fasting. Learn how to boost productivity, conquer distractions, and find relaxation through meditation. And don't forget to share your tips and suggestions for future episodes! Reach out to me today.
How to Perform at the Highest Level [00:01:13]
Discussion on the importance of structuring one's day to perform at the highest level, drawing parallels with athletes and other professions.
Being a Night Owl [00:04:23]
Tiago shares his experience as a night owl and the benefits of accepting and working with one's natural sleep patterns.
The Benefits of Cold Showers [00:07:09]
Tiago talks about the benefits he has experienced from taking cold showers, including improved tolerance to cold, potential immune system boost, and a mindset shift.
Reducing Calorie Intake and Productivity [00:10:10]
Tiago discusses how he reduces his calorie intake by practicing intermittent fasting and how it affects his productivity.
Importance of Food and Productivity [00:12:03]
Tiago talks about how the food he eats affects his productivity and how eating less helps him stay focused and avoid feeling tired or sleepy.
Managing Distractions and Increasing Productivity [00:13:02]
Tiago shares strategies for managing distractions while working, including taking breaks to do minor tasks and avoiding the temptation to use social media or browse the internet.
The importance of meditation [00:19:27]
Meditation as a tool for stress relief and problem-solving.
Balancing work and personal life [00:20:32]
Struggles with knowing when to stop working and the never-ending tasks.
The value of rest and prioritizing mental health [00:21:42]
Recognizing the need for rest, setting priorities, and avoiding burnout.
The value of your hour [00:29:38]
Tiago discusses the importance of assigning a monetary value to your time and making decisions based on that value.
Making smart investments [00:30:44]
Tiago explains how to make calculated decisions by exchanging tasks based on their value and ensuring they don't exceed the value of your time.
Supporting the podcast [00:31:50]
Tiago shares ways to support the podcast, including becoming a member of the community, which costs $10 per month.32m | Sep 9, 2023
- #308 - Interviewing Taylin Simmonds Founder of Ghostlii
I had the pleasure of interviewing Taylin Simmonds, the co-founder of Ghostlii, a content marketing agency. Have you ever wondered how to find success as an entrepreneur while staying true to your artistic vision? Well, Talyn shares his incredible journey as an indie maker and entrepreneur, exploring the fascinating intersection of art and business. We dive deep into topics like finding product-market fit, thriving in saturated markets, and the power of building an audience and brand.
Finding Product-Market Fit [00:02:38]
Dylan talks about the importance of finding product-market fit and how Ghostly shifted their focus from growing social media followers to building a valuable brand and audience.
Artistic Entrepreneurship [00:03:34]
Dylan discusses his perspective on the intersection of art and entrepreneurship, highlighting how entrepreneurship can be a vehicle for artistic impact and creating something incredible.
Selling Art and Managing Expectations [00:05:14]
The conversation explores the challenge of balancing artistic integrity and commercial success, with Dylan sharing insights on how musicians can find a niche that appeals to both artistic expression and market demand.
The journey to $10k per month [00:10:20]
Dylan shares how he reached $10k per month in just 30 days and discusses the importance of lead generation.
Building relationships through content [00:12:14]
Dylan explains his approach to networking by creating high-value content that attracts the attention of industry leaders.
The importance of skill stacking and failures [00:15:55]
Dylan emphasizes the importance of acquiring skills and experiencing failures before finding success in entrepreneurship.
The mindset shift after reaching success [00:18:44]
Discussion on how reaching success can challenge one's identity and mindset, causing anxiety and pressure.
The journey of building a successful business [00:19:33]
Exploration of the challenges faced in scaling a business and the personal growth required to sustain success.
Using psychedelics for personal transformation [00:23:11]
The guest shares his experience with ayahuasca and MDMA therapy as tools for personal transformation and identity change.
Psychedelic experiences and personal growth [00:25:08]
Dylan discusses how psychedelic experiences can open doors to new thoughts, states of being, and personal growth.
Imposter syndrome and embracing failure [00:27:03]
Dylan shares his thoughts on imposter syndrome and how it is a natural part of trying new things and embracing failure as a way to learn and iterate.
Goals and priorities in indie companies [00:32:05]
Dylan talks about his goals and priorities in his indie company, emphasizing the importance of viewing businesses as stepping stones for learning and growth.
Scaling as a Self-Improvement Vehicle [00:32:53]
Discussion on the benefits of scaling a business for financial and location freedom, but recognizing that it may not be the ultimate goal.
Passion for Educating and Creating [00:33:53]
Desire to transition into e-learning and decentralized education, and the challenge of being a creator and capturing attention.
Finding Clarity and Direction [00:34:49]
Importance of having clarity on the direction of one's business and being open to iterating and testing different paths.
The pursuit of growth [00:41:05]
Dylan discusses different motivations for entrepreneurship and the desire for growth in business and personal life.
The need for constant growth [00:42:09]
Dylan argues that while businesses don't always need to grow, individuals should always be growing in some domain, and for many, that domain is business.
The desire to keep pushing oneself [00:43:27]
Dylan explains how once money stops solving problems, the next challenge becomes finding fulfillment and enjoying life, which can be achieved through pushing oneself in business.
Ayahuasca (psychedelic): Mentioned at 00:24:03
Joe Dispenza: Mentioned at 00:25:08
MDMA therapy: Mentioned at 00:25:08
Peter Levels: Mentioned at 00:28:31
"12 and 12" mindset: Mentioned at 00:28:31
Hermosa: Mentioned at 00:30:16 (unclear if it refers to a person or a concept)
Elon Musk: Mentioned at 00:31:06
Mark Zuckerberg: Mentioned at 00:31:06
Bootstrapping: Mentioned at 00:31:06
Indie hacking: Mentioned at 00:31:06
Monkey Ran: Mentioned at 00:32:05 (unclear if it refers to a person or a company)
Topic: Books and Authors
Mark Manson: Mentioned in the context of trying on different beliefs. (Timestamp: 00:36:18)
Topic: Lifestyle and Success Symbols
McDonald's: Mentioned in the context of working at a job with no leverage. (Timestamp: 00:39:31)
Topic: Education and Learning
E-learning: The speaker expresses interest in e-learning businesses and decentralized education. (Timestamp: 00:33:53)
Topic: Conversations and Interactions
Tony Dean: Mentioned as someone the speaker had a conversation with about maintaining lifestyle and freedom while growing a business. (Timestamp: 00:40:41)46m | Sep 2, 2023
- #307 - What I wish I’d known when I started Indie Hacking
Have you ever wondered how to navigate the world of indie hacking? Well, today I'll be discussing the importance of learning and experimenting in indie hacking, the significance of having a financial runway, and the need to prioritize mental health. We'll also explore the audience-first approach, finding product-market fit, and the importance of time as an indie maker's biggest asset. So, let's dive in and discover the keys to success in the world of indie hacking!
The decision to quit job or side hustle [00:00:12]
Reflecting on the personal decision of whether to quit a job or side hustle while starting a business.
Learning entrepreneurship and time commitment [00:01:37]
The importance of dedicating 100% of time to learning entrepreneurship and building a product from scratch.
The importance of financial stability and mental health [00:04:18]
The recommendation to have at least one year of savings and prioritize mental well-being when starting a business.
The Audience First Approach [00:11:12]
Starting with an audience instead of an idea, understanding their problems, and creating products for your own crowd.
Finding a Problem [00:14:22]
Identifying problems within your own audience, exploring new technologies, and brainstorming solutions.
Product Market Fit [00:20:36]
When your product solves a market problem and people are willing to pay for it, leading to high user traction.
Finding Product-Market Fit [00:21:36]
The speaker discusses the importance of finding a product that immediately gains traction and has enthusiastic users.
Killing Unsuccessful Projects [00:22:35]
The speaker advises to kill a project if it doesn't gain traction after 2-3 months and shares the difficulty of killing a project with existing users.
Maximizing Time as an Indie Maker [00:26:45]
The speaker emphasizes that time is the biggest asset for indie makers and suggests trying multiple projects within a shorter timeframe to increase chances of success.
Launching Your Product [00:31:09]
Tips for doing a big launch on social media or Product Hunt, including ensuring everything is working properly beforehand.
Operational Challenges [00:34:03]
The shift in dynamic and energy once a product becomes mature and the challenges of setting up a company, finding better services, and understanding taxes.
Importance of Co-founders [00:36:14]
The benefits of having a co-founder, including sharing the journey, complementing each other's strengths, and open communication to resolve issues.41m | Aug 26, 2023
- #306 - I Don't Know How To Run A Business
In this episode, I, Tiago, an indie maker and entrepreneur, share my journey and the challenges I face in navigating the business side of things. From setting up a company to handling taxes and hiring professionals, there's a lot to learn. I discuss the lack of discussion around these less glamorous aspects and the fear of making mistakes. I also share my hiring process for a community manager, emphasizing the importance of trust and fit. Plus, I contemplate the need for a lawyer to define contract terms. Tune in for all the insights!
The phase of adulthood [00:01:24]
Tiago discusses the different phases of a business's life, comparing it to the stages of a person's life.
Setting up a company and address [00:04:53]
Tiago talks about the challenges of setting up a company, including the decision of what address to use and the option of a virtual office.
The frustration of bureaucratic tasks [00:09:07]
Tiago expresses frustration with the bureaucratic tasks involved in running a business, such as finding the right services, interviewing professionals, and dealing with taxes.
The hiring process [00:12:26]
Tiago discusses his first ever hiring process and the importance of finding the right person for the role.
Understanding wealth and taxes [00:16:30]
Tiago reflects on his changing definition of wealth and the realization that minimizing profits can reduce taxes.
The importance of understanding taxes [00:23:35]
Tiago emphasizes the significance of understanding the tax system as an entrepreneur and how it can lead to success.25m | Aug 18, 2023
- #305 - How Success Changes The Way You See Yourself
Have you ever wondered how success can change a person? In this episode, I'll be reflecting on this concept, and using I'll be sharing my own experiences with success through my company, PodSqueeze. From childhood dreams of being an entrepreneur to taking my profession seriously, I'll discuss the impact success has had on me. We'll also touch on the challenges of building a company, including tax considerations and the possibility of starting a business in a country with lower taxes. Managing taxes and expenses properly is crucial for scalability and growth.
Success and Change [00:01:23]
Discussion on why people change with success, using Elon Musk as an example.
Validation of Success [00:03:52]
The narrator's experience of how success has changed their interactions and engagement on social media.
Pursuing Dreams [00:10:19]
The narrator's journey of pursuing entrepreneurship as a dream and how it changed their perspective on their career path.
The coping mechanism of coding at the beach [00:12:29]
The speaker discusses how they used to feel anxious about not being productive during beach holidays and how they started using coding as a coping mechanism.
Accepting and embracing their entrepreneurial personality [00:13:31]
The speaker talks about gaining confidence in their way of seeing life and accepting their entrepreneurial personality, despite being different from others.
Challenges and frustrations of building a company [00:17:42]
The speaker shares their frustrations with the managerial and organizational aspects of building a company, including decision-making, meetings, and dealing with taxes.
The tax deductions dilemma [00:24:14]
Explains the difference in expenses that can be deducted in a company and the gray areas surrounding deducting business trips.
Challenges of starting a company in Portugal [00:26:22]
Discusses frustrations and delays in registering a company name in Portugal, highlighting the need for change.
Hiring a community manager [00:28:22]
Shares the process of hiring a community manager, including receiving video applications and the excitement of having someone to help manage the community.31m | Aug 11, 2023
- #304 - Don't do business with people you don't trust
In this episode, I'll be sharing my recent experiences with my business partner and landlord. From struggles with onboarding business partners who seemed to take control of the conversation, it's been quite a journey. I'll also be discussing my personal experience with our rented flat in Lisbon. Join me as I reflect on these experiences, contemplate changes to my business model, and invite your suggestions. Let's dive in!
Trying to find a business partner [00:02:40]
Tiago discusses his experience with trying to onboard business partners to sell their product, but it hasn't been successful so far.
Concerns about a potential business partner [00:03:51]
Tiago and Joe discuss their conversation with a potential business partner from France and express concerns about losing control of their company and lifestyle.
Unexpected housing situation [00:07:05]
Tiago shares his experience of renting a flat in Lisbon and how their landlord unexpectedly refused to renew their contract, leading to the realization of the importance of trust in business dealings.
Tiago's Thoughts on the Community [00:11:56]
Tiago discusses the purpose of the community and whether it should focus on making friends or providing value.
Considering a Change in Business Model [00:13:00]
Tiago contemplates changing the subscription-based business model to a one-time payment model for the community.
Exploring New Ideas for Monetization [00:14:51]
Tiago explores the idea of converting his guides into an ebook and potentially creating a fund for indie hackers.17m | Aug 2, 2023
- #303 - Interviewing Tony Dinh on how to run a successful indie businesses
In this podcast episode, Tiago interviews Tony Dinh, a successful indie hacker, about the challenges and goals of running an indie company. They discuss their own experiences and the importance of finding the right co-founder. They also talk about the different phases of being an indie hacker and the goals that come with each phase. Tony shares his approach to design and marketing, while Tiago talks about his transition from struggling to finding success with his startup. They also discuss profitability margins, lifestyle priorities, hiring freelancers, managing tasks and deadlines, and competing with bigger players in the industry.
The challenges of running an indie company [00:01:12]
Tiago discusses his challenges of running an indie company, including hiring and setting goals.
Finding product-market fit and gaining credibility [00:02:17]
Tiago and Tony discuss the importance of finding product-market fit and how it can lead to credibility and success.
The different phases of being an indie hacker [00:09:08]
Tiago and Tony talk about the roller coaster journey of being an indie hacker and the different phases and goals that come with it.
The profitability margins [00:12:03]
Discussion about the profitability margins of the company and the impact of having employees on revenue.
Goals as an indie hacker [00:12:40]
Discussion about short-term and medium-term goals as an indie hacker, including reaching the level of other successful indie hackers.
Prioritizing lifestyle over money [00:15:32]
Discussion about the preference for a lifestyle with more freedom and independence over having a lot of money.
The hiring process and working with freelancers [00:23:17]
Discussion on the benefits of hiring freelancers, the types of tasks they can handle, and the decision-making process of when to hire them.
Trusting freelancers and managing their hours [00:28:10]
Exploration of the trust factor in hiring freelancers, giving them access to code, and managing their hours and invoicing.
Transitioning a freelancer to a full-time employee [00:30:07]
The process of hiring a freelancer as a full-time employee, starting with a specific role and expanding their responsibilities based on their skills and willingness to help.
No deadlines [00:34:05]
Discussion on the absence of deadlines in the company and how tasks are allocated and managed without them.
Managing freedom and goals [00:36:41]
Exploration of the paradox of wanting to achieve goals and beat competitors while maintaining freedom and not setting deadlines.
Dealing with competition [00:41:14]
Discussion on how the speaker manages competition and believes there is still a place for their product in the market.
Links and Mentions
Product Hunt: 00:06:02
Communication and Task Management:
My First Million podcast: 00:36:5445m | Jul 26, 2023
- #302 - My Company is Making $10K Per Month
Is money a synonym for success? I'm thrilled to announce that we've reached a milestone of $10,000 in revenue. Plus, I recently bought a used car and the response on Twitter was amazing. Join me as I discuss the importance of freedom over money for indie makers and explore a potential product idea for a search engine for podcast episodes. I'll also reflect on my growth as an entrepreneur and how success has changed my self-perception. Lastly, I invite you to join our community and share this podcast with others in the indie maker community. Let's connect and learn together!
The milestone celebration [00:02:13]
Tiago discusses reaching a significant milestone of $10,000 in revenue and plans to celebrate with a special dinner.
Twitter monetization rumors [00:05:31]
Tiago talks about the recent buzz on Twitter about content creators getting paid and their own experience with trying to monetize their account.
Imposter syndrome and the journey of an indie company [00:09:50]
Tiago reflects on their imposter syndrome and the mixed feelings about the future of their company, sharing insights from interviews with other successful entrepreneurs.
Freedom vs Money [00:10:49]
Tiago discusses the importance of freedom over money and asks the audience to choose between working hard for $1 million or having full freedom with less money.
Creating a Podcast Search Engine [00:11:58]
Tiago shares their idea of creating a search engine for podcasts to make it easier to find specific episodes and discusses using OpenAI's embeddings for smart searches.
Building a Search Engine for Podcasts" [00:13:55]
Tiago explains the benefits of having a search engine for podcasts and the potential for creating a landing page for each episode, while acknowledging the challenges of monetizing the idea.
Tiago's self-confidence and validation [00:21:22]
Tiago reflects on how their self-confidence and ego have changed with success, and how they are now seen as a reference by others.
The stages of believing in a dream [00:22:29]
Tiago discusses the stages of believing in a dream, from thinking it's impossible to realizing it's possible through persistence and hard work.
The importance of passion and challenging oneself [00:27:03]
Tiago emphasizes the importance of passion and challenging oneself, sharing examples of successful individuals who continue to work hard and pursue their passions despite already achieving financial success.
Changeit app: 00:00:12
OpenAI: 00:11:58, 00:13:00
Wagyu beef: 00:14:57
Coldplay Concert: 00:24:39 - 00:25:54
Community for Entrepreneurs: 00:27:0328m | Jul 22, 2023
- #301 - Why Do We All Live The Same Life?
Have you ever wondered about human achievements, societal norms, and different lifestyles? Today, I'll be reflecting on these topics, specifically in the context of indie hacking. I'll also share my thoughts on two inspiring documentaries that showcase individuals living extraordinary lives, and question why society often discourages deviating from the norm. We'll then dive into my own indie hacking journey, discussing my product, PodSqueeze, and the challenges I faced with fake accounts. I'll touch on my involvement in a community project and share my thoughts on changing the monetization model. Finally, I'll discuss my lack of motivation and energy for certain projects, emphasizing the importance of quitting something that no longer brings joy.
The discovery of a new exoplanet [00:00:12]
Tiago discusses the recent discovery of a new exoplanet and how humans were able to find it by studying a star.
Societal norms and expectations [00:01:39]
Tiago explores why most people live life in a similar manner, attributing it to social norms and the pursuit of growth and power in Western societies.
Different lifestyles and admiration for extraordinary individuals [00:04:15]
Tiago reflects on the fascination with individuals who live different lifestyles, such as chefs turned travelers and mountaineers, and how they are celebrated despite societal pressure to conform.
The competition and fake accounts issue [00:14:15]
Tiago discusses their desire to see their project grow and the annoyance of fake accounts.
Changing restrictions on free users [00:15:16]
Tiago explains the decision to limit certain features to paid users to combat the issue of fake accounts.
Reducing customer support and implementing AI agent [00:18:50]
Tiago talks about implementing features to reduce the need for customer support, including creating folders and an unsubscribe button, as well as introducing an AI agent for customer support.
Lack of motivation and considering giving up [00:26:50]
Tiago discusses their lack of motivation to work on certain projects and considers giving up on them.
Quitting is not a failure [00:27:45]
Tiago emphasizes that quitting or giving up on something is not a failure, but rather a natural part of life and pursuing other interests.
Promotion of user desk and call for feedback [00:28:47]
Tiago mentions user desk and encourages listeners to check it out, providing a link in the show notes. They also mention that feedback would be appreciated and provide contact information for the creator.
Mentions with timestamps:
Anthony Bourdain: 00:05:48
"The Alpinist": 00:05:48
Elon Musk: 00:07:04
Mr. Beast: 00:07:04
Casey Neistat: 00:07:04
Tony Dinh: 00:13:10
User Desk: 00:21:20
User Desk website: 00:21:20
Luca's products: 00:21:20
User Desk.io: 00:21:20
User Desk: 00:28:47
Luca's Twitter: 00:28:47
Tiago's Twitter: 00:28:4729m | Jul 12, 2023