5 Podcasts That'll Help You Think Like an Entrepreneur

My favorite way to spend my "time within time" is by listening to podcasts. Whether I'm out on a walk or out for a drive, I love gaining insights from the minds of successful entrepreneurs, and I usually come up with a few ideas to try for myself. Whether they're about productivity hacks, building an email list, launching a product or selling a company, I've learned a lot from listening to the stories of others.

Here are my favorite podcasts to help you think like an entrepreneur:

"Eventual Millionaire" with Jaime Tardy

This has been one of my favorite podcasts for quite a while now. Jaime Tardy interviews real millionaires on how they created their wealth. Many of them are entrepreneurs or serial entrepreneurs that have built seven-figure businesses. These millionaires tend to speak candidly about their lives and work, and Jaime has a way of asking questions that makes each interview unique and engaging. She always ends with the same question: "What's one action that the listeners can take today to move them closer to their goal of a million dollars?" The answers are priceless. After all of these interviews, Jaime has compiled a book with key insights from more than 70 millionaires, which will be published in February. I've already pre-ordered my copy.

Key Takeaway: Learn from others' successes and failures and apply them to your own life and business. Failure is part of the process.

"Smart Passive Income" with Pat Flynn

Pat Flynn's blog and podcast help teach others how to create passive income by showing them exactly what he did. Not only is Pat a super nice guy (I met him at FinCon13 this year), he's also changed the game for entrepreneurs by being completely transparent in how he earns his money and makes a living with his multiple businesses and revenue streams. Each month, he publishes detailed income reports. Flynn has a tribe of loyal listeners and newsletter subscribers, and his podcast is always one of the Top Business Podcasts on iTunes. (Check out my post on #FinCon13).

Key takeaway: Be transparent, and you'll establish trust quickly. Oh, and be nice. Nice people want to help other nice people.

"The Suitcase Entrepreneur" with Natalie Sisson

Sisson's Kiwi accent transports you to another land while she interviews entrepreneurs about their businesses. She recently released a book by the same name about building her business as a digital nomad. If you're looking for the exact tools that Sisson's using to run her business from around the globe, I recommend that you download The Suitcase Entrepreneur on your Kindle like I did. It's become one of my favorite business books because of all the tools and resources she recommends. The podcast is a great inspiration for people looking to travel the world while running an online business. You don't have to quit your day job or invest a ton of money to start an online business. You can start with a side hustle.

Key takeaways: Sisson's mission is to "create freedom in business and adventure in life," and her podcast certainly delivers.

"The Tropical MBA Podcast" with Dan Andrews and Ian Schoen

These guys are the real deal. As one of their iTunes reviewers recently noted, "Dan and Ian pick up where 'The 4-Hour Work Week' left off!" These guys have built a successful e-commerce business and much more. Their personalities shine through on the podcast as they talk about travel, productivity hacks and biz tips. Plus, the witty banter between them is hilarious. I think they do an excellent job of helping people think outside the box and step out of their comfort zones. They both left traditional jobs to move to Asia, where the cost of living is cheaper, so that they could focus on building a business while living a great lifestyle. Along the way, they've created a multimillion dollar business and inspired other bootstrapping entrepreneurs to do the same. They've even inspired an entire community of like-minded entrepreneurs ("DCers") known as the Dynamite Circle, who are completely obsessed with creating location-independent businesses while living remarkable lives.

Key Takeaways: Think outside the box. Bootstrap your business. Don't settle for "normal" because "normal" sucks.

"Entrepreneur on Fire" with John Lee Dumas

I couldn't write this post without mentioning John Lee Dumas. His 30-minute episodes are perfect for your daily commute. His podcast has only been around since September 2012, but Dumas does a podcast every day so he's already on episode 389. He's totally on fire! Dumas asks entrepreneurs the same questions in every episode, but it totally works, as he extracts great information from all his guests. (Fun Fact: Dumas went to the same high school as Jaime Tardy. Small world!)

Key takeaway: Figure out a formula for success that works, and do it over and over again!

Don't forget to apply the information you're learning from these great podcasts to your own life. It's easy to consume the content without taking action, but by learning from these experts and applying it to your work, your business will grow even faster. Also, the Podcast Awards are coming up, and you only have until Nov. 15 to vote (you can vote once per day). Three of the podcasts mentioned here have been nominated in the business category, so check them out. Winners will be announced at the New Media Expo in Las Vegas in January.

Quiz: The Small Business Impact
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5 Podcasts That'll Help You Think Like an Entrepreneur

A. 50
B. 500
C. 1,500
D. 2,000

According to the Small Business Administration's size standards, the definition of small business varies widely, depending upon the industry that they work with. For example, petroleum refineries, ammunition manufacturers, and thirteen other businesses can qualify as "small businesses" if they have fewer than 1,500 employees.

A. $650,000
B. $950,000
C. $1 million
D. $35.5 million

Another way of looking at a company's size is its yearly income. For parking lots, industrial launderers, home centers and fourteen other businesses, yearly gross income of $35.5 million is the cut-off between a small business and a large one.

A. 50
B. 250
C. 750
D. 1,500

In the European Union, policymakers take the idea of small businesses at face value. According to the SME User Guide of the European Commission, a small business can have no more than 50 employees. Interestingly, this is also the cut-off line drawn by the Patient Protection and Affordable Care Act.

A. 5%
B. 20%
C. 43%
D. 57%

According to the Small Business Administration, a stunning 43% of all private payroll in the U.S. comes from small businesses. In other words, almost half of all privately-paid salaries come from small businesses, not big conglomerates.

A. 1%
B. 3%
C. 10%
D. 40%

Tax critics argue that increasing taxes on millionaires would cripple small businesses. In reality, however, only 3.31% of small business owners make $1 million or more per year. In fact, over 75% make less than $200,000 per year -- putting them well below the cut-off for President Obama's proposed tax increases.

Small businesses are a big part of the engine that propels the American economy -- study after study shows that they are the quickest to add jobs, the biggest growth sector of the economy, and a major contributor to GDP.

But are America's small businesses being used to sell its taxpayers a bill of goods? When huge airline manufacturers and home repair stores are getting many of the same benefits as the local mom and pop store, it's worth asking if we need to reconsider our small business standards -- and support the people who really need it.

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