46 - How to Find a Profitable Franchise: Tips from an Expert with Tim Michaels

Nikonomics - The Economics of Small Business

Player FM - Internet Radio Done Right

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<div class="span index">1</div> <span><a class="" data-remote="true" data-type="html" href="/series/lipstick-on-the-rim">Lipstick on the Rim</a></span>

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Lipstick on the Rim

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för 5 dagar sedanför 5d ago

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Consider Molly Sims and her best friend Emese Gormley your new girlfriends on speed dial for all your pressing beauty and wellness needs. Is Botox a good idea? Should you try that new diet you saw on the Today Show? Molly and Emese have your back. With guests ranging from top health and beauty experts to their industry friends, you’ll get the scoop on the latest trends, which products and procedures to try, and which to run from-- and they just might be doing it all with a drink in hand. Prepare to be obsessed.

för ungefär ett år sedan 44:34

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Join me, Nik ( https://x.com/CoFoundersNik ), as I talk with Tim Michaels ( https://x.com/Kickstartmyfran ), founder of Kickstart My Franchise. Tim shares his journey from a career in futures trading and corporate America to becoming a successful franchise broker. We cover how he helps aspiring entrepreneurs find the right franchise, the complexities of franchise disclosure documents, and the challenges of starting a franchise brokerage business.

Tim also discusses the long sales cycles in the franchise industry, the importance of validating franchise opportunities, and how he balances business with family life.

Questions this Episode Answers:

How do franchise brokers help entrepreneurs find the right franchise?
What are the key components of franchise disclosure documents and why are they important?
How can entrepreneurs transition from corporate America to running a franchise?
What are the biggest challenges in the franchise brokerage business?
How do you scale a business while maintaining a balance with personal life?

___________________________
Love it or hate it, I'd love your feedback.
Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts.
___________________________
Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

00:33 Meet Tim Michaels

03:02 The Franchise Brokering Business

05:35 Understanding Franchise Disclosure Documents

12:30 Tim's Journey to Entrepreneurship

17:20 Personal Struggles and Reflections

21:12 Host's Personal Experience

23:02 Navigating the Long Sales Cycle

23:59 The Financial Strain and Support

24:44 First Dollar Earned and Business Model

24:59 Lead Acquisition Strategies

25:43 Challenges and ROI in Lead Generation

27:34 Exploring Other Marketing Channels

29:25 Understanding Customer Value and Costs

34:30 Operational Insights and Client Management

42:19 Reflecting on Entrepreneurship

127 episoder

#Entrepreneur #Business #Nikolas Hulewsky #Acquisitions #Business Deals #Scale #Hustle #Entrepreneurship #Million #Marketing #Growth

46 - How to Find a Profitable Franchise: Tips from an Expert with Tim Michaels

Nikonomics - The Economics of Small Business

published för ungefär ett år sedan

Dela

MP3•Episod hem

Tim also discusses the long sales cycles in the franchise industry, the importance of validating franchise opportunities, and how he balances business with family life.

Questions this Episode Answers:

How do franchise brokers help entrepreneurs find the right franchise?
What are the key components of franchise disclosure documents and why are they important?
How can entrepreneurs transition from corporate America to running a franchise?
What are the biggest challenges in the franchise brokerage business?
How do you scale a business while maintaining a balance with personal life?

This week we covered:

00:33 Meet Tim Michaels

03:02 The Franchise Brokering Business

05:35 Understanding Franchise Disclosure Documents

12:30 Tim's Journey to Entrepreneurship

17:20 Personal Struggles and Reflections

21:12 Host's Personal Experience

23:02 Navigating the Long Sales Cycle

23:59 The Financial Strain and Support

24:44 First Dollar Earned and Business Model

24:59 Lead Acquisition Strategies

25:43 Challenges and ROI in Lead Generation

27:34 Exploring Other Marketing Channels

29:25 Understanding Customer Value and Costs

34:30 Operational Insights and Client Management

42:19 Reflecting on Entrepreneurship

127 episoder

#Entrepreneur #Business #Nikolas Hulewsky #Acquisitions #Business Deals #Scale #Hustle #Entrepreneurship #Million #Marketing #Growth

Alla avsnitt

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127 - I Built a $250K Tool in 90 Minutes (NO CODING!) with Chris Koerner 36:03

för 2 dagar sedan36:03

36:03

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we dive into AI app builders and explore lessons learned from a billionaire . Chris shares his plan to test AI-enabled app builders like Cursor and Replit to create a calorie counter app, aiming to identify the most efficient platform. He also recounts building a tool with Replete that analyzes vast financial data, potentially boosting a company's value significantly. Lastly, Chris reflects on insights gained from spending time with a Texas billionaire , focusing on his unique office setup and long-term strategic thinking. Questions This Episode Answers: What is the potential value of using AI to analyze large financial datasets? How can documenting current business processes prepare you for integrating AI agents ? What management and decision-making insights can be gained from observing successful leaders ? How can content creation and sharing lead to unexpected opportunities and collaborations? Links and Resources: https:// replit .com https://www. cursor .com Share your ideas with us: Nik@cofounders.com Chris@cofounders.com Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Introduction to Operator Usage 01:27 Experimenting with Multiple AI Tools 04:44 Preparing for AI Agents 08:04 Building a High-Value AI Tool 14:29 Insights from a Billionaire 17:51 The Shared Office Dynamic 18:32 Overqualified Team Members 19:11 Engaging and Direct Leadership 20:23 First Impressions and Office Culture 22:45 Action-Oriented Decision Making 24:09 Open Communication and Transparency 28:41 Long-Term Vision and Thinking 30:14 Validating Through Thought Processes 33:42 Encouraging Action and Sharing 33:44 Different Paths to Success…

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126 - SMB M&A Secrets: Navigating Small Business Acquisitions with Eric Pacifici 47:29

för 4 dagar sedan47:29

47:29

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Eric Pacifici ( https://x.com/SMB_Attorney ) from SMB Law Group , about his journey and insights on navigating the M&A landscape , mistakes that first-time business buyers make, and current trends in the SMB market . Eric discusses how his law firm became a preeminent name in SMB transactions , the crucial aspects of SBA loans , and underhyped opportunities in the market. Questions this Episode Answers: How did Kevin Henderson , Eric's partner, become known as the number one M&A attorney in Texas by deal count, and what unique approach does SMB Law Group take in handling SMB transactions ?. What are the biggest mistakes first-time business buyers make, and what crucial advice does Eric offer to avoid these pitfalls? What is a confession of judgment , why is it dangerous for business buyers, and how can buyers protect themselves from this mechanism? How do sale and leaseback transactions work, and why are they an underhyped opportunity for business buyers looking to acquire businesses with real estate? What does the structure of deals with investors actually looks like in the SBA ? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 The Rise of SMB Law Group 02:57 Building a Business in M&A Law 05:53 Kevin Henderson: A Case Study in Success 09:12 Navigating the M&A Landscape 12:00 Systematizing the Deal Process 14:45 The Importance of Experienced Counsel 18:04 Post-Closing Support for Clients 20:55 Common Mistakes of First-Time Buyers 24:13 Understanding Confession of Judgment Mechanism 27:04 The Importance of Transition Services 30:25 Navigating the M&A Market for SMBs 33:12 Valuations and Market Dynamics 38:53 Investor Structures in Self-Funded Searches 45:45 Exploring Sale and Leaseback Transactions…

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125 - How to Build a Multi-Million Dollar Business with Nothing But Desire with Erik Kaiser 59:43

för 6 dagar sedan59:43

59:43

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Erik Kaiser ( https://x.com/ErikKaiser ), a serial entrepreneur who went from an eight-year-old struggling with confidence and focus to building a multi-million dollar empire spanning industries and continents. Erik shares his unconventional journey, highlighting the pivotal role of desire and a unique approach he calls " dot collecting ". We explore his aversion to traditional academic paths , his hands-on approach to business, and his unique perspective on constraints and profitability . Questions this Episode Answers: What drove Erik Kaiser's success : desire , and how did it shape his business approach? How does Erik Kaiser's " dot collecting " inform problem-solving and innovation? How have constraints shaped Erik Kaiser's entrepreneurial journey? Why does Erik Kaiser prioritize profitability over top-line revenue? How did Crush the Memory emerge, and what user problem does it address? What is Erik Kaiser's vision for Crush the Memory beyond a recording device? What key insight did Erik Kaiser gain from Kickstarter , and how did it impact product launches? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Introduction and Achievements 01:19 The Power of Desire 02:16 ADHD and Entrepreneurial Traits 03:50 The Importance of Intellectual Stimulation 07:29 Constraints and Bootstrapping 11:57 Team Structure and Operations 16:49 Revenue vs. Profit 21:00 Navigating Business Ups and Downs 24:30 Incubating and Launching Brands 29:32 Challenges and Opportunities in Hardware 32:21 Navigating the Unknown: Early Challenges and Decisions 32:35 Introducing Crush: The AI Recording Device 33:52 From Idea to Reality: The Development Journey 35:16 Overcoming Technical Hurdles: Hardware and Software 39:47 The Financial Reality: Costs and Investments 43:18 Kickstarter Experience: Learning and Marketing 45:14 Market Response and Future Plans 50:33 Exploring New Markets: Healthcare and Beyond 52:22 Vision for the Future: Crush as a Social Network 58:58 Final Thoughts and Personal Insights…

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124 - How to Piggyback Your Way to Success: AI, Med Spas, Golf Courses and More with Chris Koerner 51:38

för 9 dagar sedan51:38

51:38

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we explore different cool business ideas: Med Spas and Golf Courses and AI Agents . We kick things off with a lighthearted story about a raisin cane's visit and a "Think You Should Leave" t-shirt. Then, we dive into the booming Med Spa market , driven by millennials obsessed with health and aging. We discuss the potential of integrating Med Spas with golf courses and other membership-based businesses, like tennis clubs. Chris shares an idea about a sauna/cold plunge business inside a gym or country club. We then shift gears to AI agents , discussing how to leverage them for market research and opportunity identification, including how to find and extract insights from interviews. We wrap up with a review of OpenAI’s new tools, GPT Operator and Deep Research , weighing their pros and cons for business applications. Questions This Episode Answers: What makes Med Spas such a rapidly growing market, and how can entrepreneurs capitalize on this trend? How can businesses piggyback on existing establishments like golf courses or gyms to gain a competitive edge and increase revenue? Are cold plunges and saunas an oversaturated market, or is there still room for growth? How can AI be leveraged to identify ideal business locations and understand market dynamics? What are the key advantages and disadvantages of using OpenAI’s GPT Operator and Deep Research for business research and analysis? Share your ideas with us: Nik@cofounders.com Chris@cofounders.com Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Highlights 00:33 Family Outing at Raisin Cane's 01:07 The Iconic '55 Burgers' Shirt 03:11 Med Spas and Their Growing Popularity 04:50 Med Spas in Golf Courses: A New Trend? 06:25 Revenue Models and Business Strategies 10:57 Cold Plunge and Sauna Business Ideas 16:50 Leveraging AI for Business Success 24:13 Practical Tips for Entrepreneurs 27:27 Unveiling Deep Research Capabilities 28:49 Exploring Chris Crone's Profile with Deep Research 29:59 Deep Research: Asking the Right Questions 31:19 Maximizing Deep Research on a Budget 33:05 Introducing GPT Operator and Deep Research 34:43 Impact on Industry Reports and Market Analysis 37:14 Challenges and Limitations of GPT Operator 40:27 The Future of AI and Self-Driving Technology 45:04 Deep Research: Pros and Cons 48:24 Practical Applications and Early Adoption…

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123 - How I Made $150K in 3 Weeks with Christmas Lights (After a Job Selling Toothpaste) with Anne McGinty 45:19

för 11 dagar sedan45:19

45:19

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Anne's Podcast: How I Built My Small Business https://www.annemcginty.com/how-i-built-my-small-business Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Anne McGinty , who shares her journey from a demoralizing sales job selling toothpaste to building a successful Christmas light hanging business . Anne discusses her early hustle in the Bay Area , including a greeting card business and real estate investments in Jackson Hole, Wyoming . She emphasizes the importance of making connections and getting to know people in sales. Anne explains how she and her husband stumbled upon the idea for a Christmas lighting business after hearing about others making six figures doing it. She highlights their strategy of targeting price-insensitive neighborhoods like Pacific Heights and Presidio Heights in San Francisco to maximize efficiency and recurring business. Anne also touches on their focus on customer service , communication , and quality to achieve an 85% customer retention rate . Questions this Episode Answers: How can you turn a simple side hustle into a thriving seasonal business ? What are the key factors in achieving high customer retention in a service-based business? How does focusing on high-net-worth areas impact business growth and profitability? What strategies can you use to effectively market a seasonal service with a limited budget? How do you decide when it's the right time to sell a successful business and transition to passive income ? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Highlights 00:40 Introduction and Early Career Struggles 02:00 First Steps into Entrepreneurship 03:16 Real Estate Ventures and Success 06:39 Cultural Influences and Family Background 14:05 The Christmas Lighting Business 21:19 Entrepreneurial Mindset and Philosophy 25:35 Reflecting on the Journey 25:43 Launching the Business 26:20 Early Challenges and Strategies 29:17 Customer Acquisition Tactics 29:59 Unexpected Ventures and Learnings 32:46 Financial Insights and Growth 37:47 Selling the Business 42:44 Reflections and Future Plans…

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122 - How to Start a Business in 2025 (Two-Step Guide) with Michael Girdley 39:39

för 13 dagar sedan39:39

39:39

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Michael Girdley ( https://x.com/girdley ), a serial entrepreneur and investor , about building a business , avoiding common mistakes, and identifying future opportunities. Michael shares insights from his diverse experiences, from Alamo Fireworks to Gertling Media, emphasizing the importance of experience and strategic business choices. We delve into overrated business opportunities and explore unconventional business models. Questions this Episode Answers: What two-step process would Michael Girdley follow to build a business in 2025, and how would he make his first million dollars? Why does Michael Girdley advise against buying a business as your first venture , especially for a young entrepreneur? What are some overrated business opportunities in today’s market, and what sectors hold promise for the future? What is Michael Girdley's contrarian belief about business, and how does it influence his perspective on career choices and entrepreneurial paths ? What unconventional business model does Michael find fascinating? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Introduction and Guest Background 01:00 Business Ventures and Investments 01:44 Current Business Scale and Operations 03:09 Starting Over in 2025: Step-by-Step Guide 05:13 The Value of Experience and Financial Safety 07:11 Starting a Low-Capex Services Business 10:01 The Reality of Online Courses 14:19 The Hold Co Conference and Learning from Failure 19:44 Sympathizing with the Struggles of Entrepreneurs 19:15 The Fine Line Between Faking It and Failing 21:22 Excitement for the Upcoming Conference 22:09 The Concept of an Unconference 23:21 Challenges and Risks in Event Planning 24:28 Innovative Business Models in Event Management 29:22 Advice for Aspiring Entrepreneurs 32:24 Contrarian Views on Business Opportunities 35:16 The Importance of Personal Fit in Career Choices 38:32 Different Paths to Entrepreneurship 39:31 Conclusion and Final Thoughts…

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121 - Is Dan Peña a Genius or a Fraud? What "The Trillion Dollar Man" Really Teaches with Chris Koerner 41:21

för 16 dagar sedan41:21

41:21

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we discuss the world of self-help gurus , focusing on the controversial Dan Pena . We discuss Pena's background and his claims of building a massive oil company and hosting $30,000 mastermind seminars. We unpack his extreme persona and tactics , while also trying to understand his success. We debate the value of his teachings, and the question of whether his advice is actually helpful. We also explore a real-life negotiation with a group using Pena's brand, and discuss the important difference between motivational speaking and providing a concrete business plan. We finish off by discussing AI , and the possibility of creating businesses that protect consumers from the spam resulting from new technologies. Questions This Episode Answers: Is there any real value in Dan Pena’s QLA method, or is it all just hype? How can you differentiate between a good business guru, like Alex Hormozi , and a bad one, like Dan Pena ? How can we apply the positive aspects of Pena’s extreme self-belief in a reasonable way? How can you identify emerging business opportunities by thinking of both the "disease" and the "cure," specifically in relation to new technologies like AI ? How can you think of new businesses by productizing the prompts you use in chat GPT or other AI tools? Share your ideas with us: Nik@cofounders.com Chris@cofounders.com Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Introduction to Controversial Gurus 00:58 Meet Dan Pena: The Trillion Dollar Man 02:09 Dan Pena's Predictions and Background 03:59 Dan Pena's Business Ventures 08:32 The QLA Principles Unveiled 13:28 A Personal Encounter with Dan Pena's Team 18:05 Unshakable Belief in Entrepreneurship 18:51 The Fyre Fest and WeWork Examples 20:06 Alex Hormozi's Tactical Approach 20:47 Sales Gurus and Their Strategies 22:11 Dan Pena's Podcast Invitation 25:43 AI and the Future of Outbound Marketing 28:00 AI Tools and Consumer Defense 36:22 PhD-Level Autonomous Agents 37:52 Productizing AI Prompts 40:27 Exploring Custom GPTs…

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120 - How to Build a Million Dollar Business with James Camp 45:19

för 18 dagar sedan45:19

45:19

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with James Camp ( https://x.com/JamesonCamp ), a serial entrepreneur who shares his journey from doing SEO as a teen to building and exiting multiple companies. James discusses his strategy of buying "unsexy" internet businesses , emphasizing cash flow , and leveraging distribution . He also delves into his past experiences in affiliate marketing , and his thoughts on the importance of a strong personal brand . We explore his future plans, which include a potential move into investment banking and a greater focus on content creation. Questions this Episode Answers: How can early experiences in SEO and affiliate marketing shape an entrepreneurial approach? What are the advantages of acquiring " unsexy " internet businesses and focusing on cash flow ? How can distribution channels be leveraged to drive growth and find new business opportunities? What are the key differences between product-focused tech companies and those focused on customer acquisition ? How can personal brand be a competitive advantage when attracting investors and building a business? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Highlights 00:29 Introduction and Early Ventures 00:58 Transition to Unsexy Internet Businesses 03:28 Current Portfolio and Investments 06:24 Lessons from Aggregating Small Businesses 10:10 Early Entrepreneurial Journey 13:40 Nightclub Promoter to Entrepreneur 15:58 Challenges and Setbacks 18:22 Focus on Distribution and Customer Acquisition 22:12 Debating Pronunciations and Stock Market Comparisons 23:10 The Value of Distribution and Course Selling 24:56 Personal Branding and Polarizing Marketing 28:07 Financial Goals and Realistic Expectations 35:29 Investment Strategies and Business Models 40:20 The Concept of Wrappers in Business 43:32 Future Plans and Midlife Reflections…

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119 - How to Find High-Paying Consulting Clients (and What to Do Once You Land Them) with Sean O'Dowd 34:42

för 20 dagar sedan34:42

34:42

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Sean O’Dowd ( https://x.com/SeanODowd15 ), who runs the real estate fund Scholastic Capital . Sean shares how he went from consulting to building a fund that buys single-family homes in good school districts. He explains how he used platforms like Catalant to find high-paying consulting clients and emphasized the importance of functional skills and being a business " athlete ". Sean also discusses how he leveraged his consulting income to begin building a real estate portfolio and how Twitter became crucial for networking, fundraising, and finding legal help . We also touch on his unique strategy of building a portfolio in the upper Midwest , and targeting a $100 million valuation. Questions this Episode Answers: How can you leverage consulting to fund your entrepreneurial ventures? What strategies can you use to find high-paying consulting clients on platforms like Catalant ? How can Twitter be a surprisingly powerful tool for networking and fundraising? How to structure a real estate fund including management fees, preferred returns and investor distributions? What are the long-term financial benefits of growing a fund to over $100 million ? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Highlights 00:40 Introduction to the Real Estate Fund 01:08 From Consulting to Real Estate 01:48 The Consulting Journey 02:33 Breaking into Entrepreneurship 03:49 The Catalan Experience 04:30 Financial Success and Lifestyle Changes 12:40 Starting the Real Estate Fund 17:40 Understanding the Fund Structure 18:23 Management Fees and Team Building 19:11 GP LP Model Explained 19:39 Preferred Returns and Fund Models 20:10 Hiring and Operational Costs 23:23 Growth Strategy and Future Plans 25:45 Acquisition Strategy and Market Focus 28:23 Twitter as a Fundraising Tool 31:46 Investor Relations and Transparency 32:55 Current Performance and Market Tactics…

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118 - How to Start a High-Profit "Convenience" Business (That's Not a Scam) with Chris Koerner 29:19

för 23 dagar sedan29:19

29:19

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we discuss the world of sales and unexpectedly profitable business models, such as pest control , a field Chris has personal experience in. We examine how high incomes can be achieved through door-to-door sales , as well as the financial dynamics of the pest control industry. We also discuss the compensation structure of sales crews and the potential of renting out specialized licenses . We explore the idea of pest control as a convenience service rather than a necessity, and share the story of an entrepreneur who achieved remarkable success with a Christmas lighting business. Questions This Episode Answers: How can door-to-door sales lead to high income , even seven-figure earnings What are the underlying economics of a high-margin service business like pest control ? What are the less obvious revenue opportunities within established industries, such as renting out licenses ? How can one identify and capitalize on "convenience" businesses ? Share your ideas with us: Nik@cofounders.com Chris@cofounders.com Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Introduction and Personal Anecdotes 03:36 The Economics of Pest Control 06:45 Insights on Sales Ethics and Practices 12:12 Personal Experiences in Pest Control 15:50 Questioning the Effectiveness of Pest Control 17:15 Revelation: Pest Control is a Scam 18:08 The Convenience Business Model 19:22 Success Story: Christmas Lighting Business 24:46 Entrepreneurial Spectrum: Different Approaches 27:02 Learning from Mistakes: The Importance of Knowledge…

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117 - How He Used Legacy Media to Build a $100M+ Business Empire with Craig Fuller 1:02:09

för 25 dagar sedan1:02:09

1:02:09

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Craig Fuller ( https://x.com/freightAlley ), a prolific entrepreneur who has built multiple successful businesses in the transportation and media industries. Craig shares his journey from trying to build a futures market for trucking to discovering the power of media and distribution . He explains how his data business, Sonar , was initially driven by his media company, FreightWaves , and how he later acquired numerous legacy media publications under the Firecrown umbrella. Craig discusses his strategy of buying established media brands with strong brand equity and loyal audiences to leverage them for non-media business opportunities, and emphasizes the value of owning distribution . He also touches on the importance of being malleable as a founder, and how his original ideas often shifted in response to new information. We also discuss his acquisition of a massive model railroad museum and his plans to create a physical experience tied to his media empire. Questions this Episode Answers: Why is distribution more important than product development? How can legacy media properties be used to drive business growth? How can entrepreneurs leverage print media in a digital world? How can owning an audience create new business opportunities? Why is it so important to own distribution when launching a business? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ 00:00 The Media Empire: Building a Diverse Portfolio 02:53 Navigating the Complexities of Media and Data Businesses 06:10 The Evolution of FreightWaves: From Idea to Execution 09:06 Understanding Market Dynamics: The Role of Data in Freight 11:57 The Importance of Distribution in Business Success 15:11 The Journey of Entrepreneurship: Embracing Flexibility and Adaptation 18:02 The Power of Media: Influencing Perceptions and Driving Sales 20:53 The Role of NDAs and Trust in Business Relationships 24:07 Acquisition Strategy: Building a Media Network through Legacy Brands 30:40 Overview of Nikolas Hulewsky's Podcast and Business Insights 31:09 The Value of Legacy Print Media 32:08 Acquisition Strategies for Traditional Media 34:03 The Lindy Effect and Long-Lasting Brands 35:30 Building Community and Audience Engagement 36:54 Rapid Expansion in Media Acquisitions 39:21 Creating a Transportation Museum Experience 40:18 The Power of Physical Experiences 44:08 Framework for Identifying Media Opportunities 51:15 Leveraging Local Healthcare for Media Opportunities 56:28 The Case for Buying Sports Illustrated…

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116 - How This Mom Built a 7-Figure Business from Home and How You Can Too with Jayne Havens 49:04

för 27 dagar sedan49:04

49:04

Click Here to Become a Certified Sleep Consultant Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Jayne Havens , who built a 7-figure sleep consulting business from her kitchen. Jayne shares how she transitioned from event planning to helping parents with their children's sleep, initially through Facebook groups . She now runs an online sleep consultant certification program , which is the main source of revenue, and offers two-week virtual consultations using text and email. Jayne emphasizes the power of a strong mindset and her experience with sales, that helped her grow her business. Jayne's success is also a result of recognizing a need, having a good understanding of her customer and her service and ultimately scaling her business by creating an online training program . Questions this Episode Answers: How can you start a business from home using social media? How do you scale a service-based business by creating a training program ? How does having the right mindset influence business growth? How can a business owner create a training program that provides value for its students? How can you transition from a side hustle to a 7-figure business? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ 00:00 Introduction to Sleep Consulting Business 06:04 Understanding Client Needs 11:52 The Journey to Entrepreneurship 17:54 Service Structure and Client Interaction 26:15 Automating Communication for Efficiency 32:46 Building a Business: Time and Effort Required 39:19 Creating a Comprehensive Training Program 45:21 The Changing Landscape of Parenting and Sleep Training…

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115 - The Easiest Way to Make Money with AI (No Code) with Chris Koerner 33:43

för 30 dagar sedan33:43

33:43

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we explore how AI is changing the world and uncover exciting AI business ideas . We discuss the rise of digital detox , the impact of po*nography addiction and phone addiction , and how these growing issues present business opportunities . We also break down the business of AI prompts , including how to sell prompts on platforms like PromptBase.com - and why a single prompt can be the foundation for an entire SaaS product . Plus, we talk about how prompts are becoming the new SEO , the power of AI wrappers in simplifying complex tools, and an AI-powered tool concept that helps entrepreneurs find great business ideas by analyzing their data and personal experiences . Questions This Episode Answers: How can you build a business around AI prompts and sell them profitably? Why are digital detox and porn addiction recovery becoming big business opportunities? How do AI wrappers make complex tools easier to use and monetize? What makes prompts the new SEO , and how can you capitalize on it? How can AI help entrepreneurs discover their next big business idea ? Links and Resources: https:// promptbase .com - Buy and sell prompts for AI tools. https:// replit .com - Make a chatbot. https://www. cursor .com - Tool that helps you coding and creating apps . Share your ideas with us: Nik@cofounders.com Chris@cofounders.com Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ This week we covered: 00:00 Exploring Business Opportunities in AI 02:52 Digital Addiction and Its Impact 06:08 The Role of po*nography in Modern Society 08:55 Creating Retreats for Digital Detox 11:46 Leveraging AI for Business Ideas 15:08 The Power of Prompts in AI 17:59 Building SaaS Products from Prompts 20:49 The Concept of Wrappers in Business 24:08 Using AI for Personal and Business Growth 26:55 Accountability and Idea Validation with AI…

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114 - How This 25-Year-Old Built a $1M+ Pest Control Business with Casey McDaniel 36:15

för 5 weeks sedan36:15

36:15

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Casey McDaniel ( https://x.com/pestctrlguy ), a 25 year old entrepreneur who co-founded a rapidly growing pest control company. Casey shares his journey from door-to-door sales to building a multi-million dollar business with $1.3 million in recurring revenue , managed remotely from another state. He explains the recurring revenue model of the pest control business, highlighting its high margins and the value of route density. He emphasizes that the biggest barrier to entry is the master license, which requires 2-3 years of experience. Casey also discusses how door-to-door sales is their key customer acquisition strategy and how they've achieved gross margins around $120 on a $135 service. He shares how they started with $8,000 worth of chemicals in his garage and scaled up to a million-dollar business in 3 years. Questions this Episode Answers: How can you start a business with only $4,000 ? What is the appeal of door-to-door sales , and why is it so effective ? How do you build a high-margin business with recurring revenue ? How do you manage a remote team and keep them accountable? How to grow a business to $1 million in revenue? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ 00:00 The World of Door-to-Door Sales 10:07 Understanding Pest Control Business Models 19:59 The Economics of Pest Control 30:09 Building a Pest Control Business 35:54 Future Goals and Work-Life Balance…

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113 - How Constraints Built OpenPhone into a Thriving Business with Daryna Kulya 48:15

för 5 weeks sedan48:15

48:15

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik ( https://x.com/CoFoundersNik ), as I speak with Daryna Kulya ( https://x.com/darynakulya ), founder of OpenPhone , a business phone system empowering over 50,000 businesses. Daryna shares how her personal frustration with expensive phone bills sparked the idea for OpenPhone . She explains how it’s more than just calls and texts, focusing on stronger customer relationships through automation and team collaboration . We discuss how OpenPhone provides a user-friendly, modern alternative to enterprise systems like Ring Central , emphasizing their focus on ease of use and customer experience. Daryna also talks about how they grew through scrappy bootstrapping and using channels like Facebook groups or Reddit , and the vision of OpenPhone as it evolves to be more than a phone system and more like a CRM to provide value for business owners. Questions this Episode Answers: How did a personal frustration lead to a business idea that now helps over 50,000 businesses? What makes OpenPhone different from other phone systems , and how does that help small business owners ? How can a company grow without spending a lot of money on advertising ? Why can ' bootstrapping ' be a good thing for a startup ? How can technology (AI) help a business improve customer relationships without being complicated? Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________ 00:00 Intro 01:40 From Constraints to Creativity 02:59 The Evolution of OpenPhone 10:08 Blurring Lines: Phone Systems and CRMs 20:43 The Importance of Communication in Business 24:05 The Journey of OpenPhone's Creation 29:18 From Idea to Product: The Early Days 30:44 Bootstrapping vs. Raising Funds 34:03 Scrappy Customer Acquisition Strategies 40:12 Passion for Product and Customer Experience 44:58 Future Aspirations and Company Vision…

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