Summary of Arvid And Tyler Catch Up Podcast Episode: Calm Under (Legislative) Pressure with Michele Hansen
— Description —
Founders are grappling with challenges stemming from tax policy changes, prompting them to take action and explore available options The conversation underscores the significance of prioritizing mental and business resiliency, seeking support, and focusing on controllable factors It emphasizes the importance of mindfulness and staying calm in entrepreneurship, with a project aimed at teaching how to build a calm business
There is a push to make business education more accessible, highlighting the value of learning from others' experiences and being part of a community The SSB alliance.org provides a platform for U.S founders to advocate for a solution to the uncertainty caused by tax policy changes
Founders are urged to reevaluate business plans, cut non-essential expenses, and explore financial liquidity options while considering potential tax refunds The conversation stresses the need for founders to take action, explore available options, and consider the broader implications of tax policy changes on their businesses.
Calm Under (Legislative) Pressure with Michele Hansen
Key Takeaways
Entrepreneurs Embracing AI and Automation
Indie SaaS Businesses: Tax Policy Impact
Build Resilience Amidst Entrepreneurial Challenges
Embrace Mindfulness for Entrepreneurial Success
Revolutionizing Business Education Accessibility
Acknowledge Supportive Entrepreneurial Activists
Urgent Call to Action Needed
Key Takeaways
- Founders are facing challenges related to tax policy changes, urging them to take action and explore available options.
- Entrepreneurs are advised to prioritize mental and business resiliency, seek support, and focus on what's within their control.
- The conversation highlights the importance of mindfulness and staying calm in entrepreneurship, with a project aiming to teach how to build a calm business.
- There is a discussion about making business education more accessible, emphasizing the value of learning from others' experiences and being part of a community.
- The SSB alliance.org provides a platform for U.S. founders to advocate for a solution to the uncertainty caused by tax policy changes.
Entrepreneurs Embracing AI and Automation
- Tyler Tringas has been focusing on leveraging automation and AI internally at the fund, experimenting with little bots and planning to spin out micro SaaS products based on these experiments.
- Arvid Kahl has been preparing for a roundtable discussion at MicroConf US, engaging in conversations about AI's impact on bootstrap businesses, and dealing with the challenges of entrepreneurship, particularly mental health issues.
- Michelle Hansen has been heavily involved in phone calls and dealing with tax-related challenges, including sales tax compliance, international tax issues, and the impact of the recent changes in the US tax code on software development expenses.
Indie SaaS Businesses: Tax Policy Impact
- Indie businesses, especially indie SaaS businesses, are facing a new challenge due to tax policy changes, which could significantly impact their expenses and profitability.
- There is a pending legislation and a need for final IRS guidance to address the issue, but the timeline for resolution is uncertain, causing distress for small businesses.
- U.S.-based founders are urged to sign a coalition letter at ssballiance.org to advocate for a solution before tax day, and to explore options with their accountants to navigate the tax implications.
- The impact extends beyond U.S. citizens and residents, affecting businesses with U.S. LLCs or C-Corps, prompting the need for awareness and support within the community.
- Founders are advised to reevaluate their business plans, cut non-essential expenses, and explore options for financial liquidity, while also considering the potential for future tax refunds and seeking professional advice.
- The conversation highlights the need for founders to take action, explore all available options, and consider the broader implications of the tax policy changes on their businesses.
Build Resilience Amidst Entrepreneurial Challenges
- Entrepreneurs are facing a lot of challenges, from COVID to interest rates to crypto busts, and it's important to build mental and business resiliency to deal with these issues.
- Focusing on what's in your control and what's not is crucial. It's essential to create plan Bs, line up financing, and seek support from the entrepreneurial community.
- Finding a sense of calm during stressful times is important. Prioritizing activities that make you feel physically okay, like meditation or running, can help bring down stress levels and remind you that you have options to solve the problem.
Embrace Mindfulness for Entrepreneurial Success
- The conversation revolves around the importance of mindfulness and staying calm in entrepreneurship. The Calm MBA project aims to teach people how to build a calm business and handle explosive situations. They are considering structuring the project as a self-paced course or a series of short workshops. Michele Hansen shares her positive reaction and relates it to her own experience of feeling incompetent in her business after three years, leading her to pursue an MBA for guidance.
Revolutionizing Business Education Accessibility
- The conversation revolves around the idea of making business education more accessible, especially for those at the beginning of building a business or without the financial means to pursue traditional education.
- The value of learning from other people's experiences and being part of a community is emphasized, with the suggestion of structuring a one-day Saturday workshop with remote components and community engagement throughout the week.
- There's a discussion about pricing structure, with the suggestion of an upfront commitment for a certain duration, such as six months or a year, to incentivize participation and ensure a dedicated cohort.
Acknowledge Supportive Entrepreneurial Activists
- The conversation revolves around wrapping up a discussion on entrepreneurial activism and acknowledging people who have been supportive.
- Michele Hansen expresses gratitude towards founders who have been open about their struggles with Section 174, and mentions Angela Parker as someone who understands finding calmness from a physical perspective.
- Tyler Tringas adds to the conversation by recommending Angela Parker as a person to talk to for those struggling with finding calmness.
Urgent Call to Action Needed
- The SSB alliance.org is a platform for U.S. founders with U.S. companies to sign a letter that will go directly to Congress, making it the most impactful thing they can do to address the uncertainty caused by 174.
- It's important to encourage others to take action, even if they are not directly affected, as it is a community effort to protect the founder community from bankruptcy and upheaval of lives.
- Michele Hansen emphasizes the urgency and importance of spreading awareness about the existential threat posed by the current situation, and expresses gratitude for the opportunity to discuss the issue.