The Nuts and Bolts of Running Your Own Business

Starting a business can seem daunting.

Between taxes, expenses, marketing, business types, and creating actual value for your customers, it’s pretty easy to decide that your million-dollar idea is just too hard to think about.

But clearly, people actually follow through on their ideas, or I wouldn’t be writing this on a MacBook Air on a Roost stand in a local tea shop.

So today, we’re talking about what goes on behind the scenes of entrepreneurship. Toss that learned helplessness to the side, and you may just end up one of the lucky (but mostly dedicated) few who get to reap the benefits of high risks and hard work.

Things mentioned in this episode:

This week’s episode is sponsored by:

  • Storyblocks – Get unlimited audio, video, and stock image downloads that you can use in all your creative projects – royalty-free – from a library featuring hundreds of thousands of creative assets. Click the link to get all three libraries for a whole year at just $149.

Other things we mentioned in this episode:

  • TurboTax
  • Ustream
  • FreshBooks
  • Xero
  • Wave Accounting
  • ScanBot (iOS | Android)
  • Evernote (iOS | Android)
  • Evernote Scannable (iOS)
  • Pat Flynn
  • Shake (iOS | Android)
  • , by Anthony Bourdain
  • Anthony Bourdain
  • Steve Jobs
  • Lessons from The Personal MBA (Ep. 166)
  • , by Josh Kaufman
  • Josh Kaufman
  • Every Frame a Painting
  • Medium – Postmortem: Every Frame a Painting
  • Project management triangle

Want more cool stuff? You can find all sorts of great tools at my Resources page.


  • 0:03:09 – Tom and Martin’s experiences with entrepreneurship
  • 0:10:02 – The different types of businesses
  • 0:25:12 – Managing your income and expenses
  • 0:28:20 – Doing the taxes for your business
  • 0:35:35 – Handling the contracts yourself or hiring a professional
  • 0:39:02 – Sponsor: StoryBlocks (Graphic design assets)
  • 0:42:18 – Viewing a business as a funnel
  • 0:49:00 – Knowing your target audience and commanding respect
  • 0:52:21 – Applying the funnel concept to advertising
  • 0:57:39 – How to get funding for your business
  • 1:02:28 – Conclusion

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The Nuts and Bolts of Running Your Own Business (Ep. 190)