Nikonomics - The Economics of Small Business

Latest Episodes:

84 - BEST Way to Make Money with Reddit In 2024 with Chris Koerner Nov 15, 2024

Show notes

This week, we’re bringing you Part 1 of our discussion, where we focus on two main topics: growing a subreddit as a business tool and a creative business-in-a-box solution for aspiring entrepreneurs. We discuss the challenges and strategies behind creating and managing a successful subreddit, including how to engage users, leverage automation tools, and drive real value from the community. We also talk about the concept of a business-in-a-box, where we outline all the necessary components, from marketing templates to software tools, that entrepreneurs need to get a side hustle off the ground quickly and efficiently. These insights are packed with practical steps and creative strategies that you won’t want to miss.
Make sure to catch Part 2 next week for even more!

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How can you grow and leverage a subreddit as a business tool?
What is the best way to use automation tools like Zapier to boost subreddit growth?
How can aspiring entrepreneurs use a “business-in-a-box” solution to streamline starting their business?
What makes Reddit an underutilized marketing channel for entrepreneurs?
How do Chris and Nik assess which business ideas to pursue?

00:00 Introduction to Growth Hacking and Social Media Platforms
02:55 Navigating Reddit: Strategies for Content Distribution
05:49 Leveraging AI and Automation for Reddit Engagement
09:14 Building a Subreddit: The Benefits of Ownership
12:08 Creative Marketing Strategies: Learning from Political Campaigns
15:01 Innovative Business Ideas: Monetizing Distill.io
20:27 Business in a box idea
17:54 Conclusion and Future Ideas

83 - Why This Entrepreneur Paid $9.2M for a Domain with Jesse Tinsley Nov 13, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Jesse Tinsley (https://x.com/JesseTinsley), who currently runs five companies including employer.com and recruiter.com. In this episode, Jesse talks about why premium domains like employer.com are worth millions, how to creatively finance acquisitions, and why taking the leap into entrepreneurship was his best decision. We also dive into Jesse's unconventional approach to buying companies, building a mini-holdco, and scaling businesses from scratch. It's a must-listen for anyone interested in scaling, branding, and creative deal structuring. Enjoy the episode!

Questions this Episode Answers:

Why did Jesse Tinsley spend $9.2M on a premium domain name?
How can creative deal structuring help you acquire businesses with little upfront cost?
What are the advantages of owning strong domains like employer.com or recruiter.com?
How do you create value through unconventional acquisitions and roll-ups?
What industries does Jesse see as the biggest opportunities for the future?

82 - How to Buy & Run a $10M Textile Biz with a $3M Moat with Kevin Bibelhausen Nov 11, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Kevin Bibelhausen (https://x.com/bibelhausen) owner of a $10M textile business based in North Carolina. Kevin shares how he acquired the business through a self-funded search, and what it takes to run a working capital-intensive operation in the textile industry. From being in healthcare and tech to now dealing with textiles that have appeared in major movies like Star Wars, Kevin’s journey is unconventional, full of challenges, and packed with insights about finding opportunities in industries others might overlook.
Questions this Episode Answers:

How do you acquire a $10M textile business through a self-funded search?
What makes the textile business unique and what’s Kevin’s moat?
How can creativity from a background in music be applied to entrepreneurship?
What are the key operational challenges in running a textile business?
How does Kevin leverage international suppliers and a strong team to grow the business?

__________________________
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 the Textile Business
02:50 Understanding the Textile Supply Chain
06:11 Transitioning from Healthcare to Textiles
09:01 The Challenges of Raising Capital
11:54 The Role of Technology in Textiles
14:48 Navigating the Textile Market Dynamics
22:27 Inventory Management and Competitive Advantage
29:46 Growth Strategies and Market Dynamics
35:57 Future Vision and Business Model
42:30 Personal Reflections and Entrepreneurial Journey

81 - How to Create a $10K/Month Side Hustle with GPT for Sheets with Chris Koerner Nov 08, 2024

Show notes

🚨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 another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every Friday, we brainstorm ideas and share exclusive insights into our businesses.
This week, we’re bringing you Part 2 of our conversation - Part 1 -> Ep. 78.
We cover some exciting topics, including GPT for Google Sheets, a creative dating idea and a unique business concept called Water Finds. Don’t miss our 'marry, date, or kill' segment, where we evaluate these ideas and decide which one we’d pursue, test, or drop. It’s a great continuation from last week, and you won’t want to miss it!

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How can AI tools like GPT for Google Sheets simplify your data management?
What are creative ways to foster meaningful connections in the dating world?
How can you monetize the thrill of treasure hunting?
How do Chris and Nik assess new business ideas using the 'marry, date, or kill' framework?

80 - How the $574B Digital Media Industry Is Being Disrupted by a Sesame Street Alum with Caroline Strzalka Nov 06, 2024

Show notes

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Caroline Strzalka (https://x.com/carolinestrzalk), a former Sesame Street employee who's revolutionizing the digital media industry with her company, Overplay (https://overplay.com). In this episode, you're gonna learn about the sexiest entrepreneurship of all: the startup. From the initial idea to understanding when it makes sense to raise money, Caroline shares her story. From Wharton MBA to walking out of Shark Tank with an investment from Mark Cuban, her journey is nothing short of inspiring. Overplay is a no-code solution for making any video into a game, and Caroline is here to tell us how it all works.

Questions this Episode Answers:

How is the $574B digital media Industry being disrupted by a Sesame Street alum?
What makes Overplay's no-code gaming solution revolutionary?
How do you decide when to raise funds versus bootstrapping a startup?
What lessons can be learned from getting an investment from Mark Cuban?
How can media and video content be repurposed into interactive games?

__________________________
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
02:54 The Concept of No-Code Gaming
05:47 The Journey of Entrepreneurship
09:06 Funding and Financial Strategy
11:57 The Role of Experience in Entrepreneurship
14:49 Navigating the Startup Landscape
18:05 The Impact of COVID on Business Development
20:56 Raising Capital: Strategies and Considerations
25:04 Understanding Fundraising Dynamics
30:32 Navigating Salary Decisions in Startups
32:20 Funding Allocation and Team Structure
33:16 Equity Considerations for Founders
34:41 Exploring Equity Crowdfunding Platforms
38:23 The Value of Retail Investors
41:41 Future Liquidity Events and Growth Potential
46:09 Personal Reflections and Advice for Entrepreneurs

79 - How to Do Less, Earn More, and Have Way More Fun with Jessica Miller Nov 04, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), and special guest Jessica Miller (https://x.com/JM_BrandNewYou), founder of Jessica Miller Coaching (https://jessicamillercoaching.com). In this episode, we dive deep into growth and sales consulting, the power of optimizing your business using what you already have, and how to double your revenue the boring way. Jessica shares her incredible journey from the pharmaceutical industry to coaching entrepreneurs and how she helps them simplify, scale, and succeed.

Jessica’s approach is unique—focusing on helping business owners become their best by eliminating inefficiencies and honing in on what works. No fluff, just results. Whether you're running a med spa, a coaching business, or anything in between, this episode is for you if you want to grow smarter, not harder.

Questions this Episode Answers:

How do you double your revenue without doing more?
Why do so many capable business owners struggle to grow profitably?
How can a 90-day plan help you hit your business goals?
What are the most common mistakes entrepreneurs make in sales and marketing?
How do you ensure you're not leaking money in your business?

__________________________
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 Importance of a Clear Sales Process
03:01 Jessica Miller's Journey to Coaching
05:50 Understanding the Target Audience
09:06 The Structure of Jessica's Coaching Business
12:00 Qualifying Clients for Success
14:46 Common Mistakes in Sales and Marketing
25:45 Strategic Planning for Business Growth
31:57 The Importance of Conversion Rates
39:01 Understanding Your Offer and Market Positioning
44:10 Self-Assessment for Business Success
50:48 Final Thoughts

78 - Selling Drugs, Vending Machines and Stripping Bankrupt Companies for Parts with Chris Koerner Nov 01, 2024

Show notes

🚨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 another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every Friday, we brainstorm ideas and share exclusive insights into our businesses. This week, we discuss strategies to acquire assets from bankrupt companies, an update on our viral perfume vending machine business (over 20 million views!), and much more. Don't miss our 'marry, date, or kill' segment where we evaluate the three ideas we discussed. It’s a good one!

Stay tuned for Part 2 next week, where we’ll talk about GPT for Google Sheets, a creative dating idea, and a business called Water Finds that we think you’ll find interesting. Be sure to share, like, and subscribe!

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How can you buy assets from bankrupt companies to start a business?
How do you turn a viral idea into a profitable business?
What can we learn from The Pro’s Closet’s failure to avoid similar mistakes?
How to make money with Negotiations as a Service?
Which business idea is worth pursuing and why?

77 - How a Former Marine Built an $8M Landscaping Biz with Nolan Gore Oct 30, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), and Nolan Gore (https://x.com/leadershipacad1), who runs a thriving residential lawn and landscaping business. In this episode, Nolan shares his journey, from acquiring his first business to scaling it to over $7.5 million in revenue with 18-21 crews. We explore the highs and lows of entrepreneurship, the challenges, lessons learned, and the emotional rollercoaster that comes with running a business in the home services industry. Nolan talks about making tough decisions, how he navigated acquisitions, and what it really takes to build a successful business. If you're curious about buying a small business or what it's like to operate one, this episode will give you a raw and honest look.

Questions this Episode Answers:

How did Nolan scale his lawn and landscaping business to $7.5 million in revenue?
What are the key challenges in running a home services business?
How did Nolan approach acquiring a competitor and what lessons did he learn?
Why is leadership experience crucial for running a business?
How do you deal with the emotional ups and downs of entrepreneurship?

__________________________
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 From Military to Entrepreneurship: A Journey Begins
02:54 Scaling a Landscaping Business: The Reality of Growth
05:47 The Importance of Naivety in Business Ventures
09:12 Navigating Family Expectations and Business Risks
12:08 Lessons from Early Failures: The Value of Experience
15:07 Understanding the Emotional Rollercoaster of Entrepreneurship
18:01 The Art of Hiring: Learning from Mistakes
20:58 Tuck-In Acquisitions: Expanding Through Strategic Growth
25:18 The Emotional Journey of Business Acquisition
28:07 Navigating Financing Challenges
30:32 Lessons Learned from Due Diligence
36:56 Growth Aspirations and Business Philosophy
40:19 The Human Element in Business Management
43:14 Industry Jealousies and Aspirations
47:36 Advice for Future Leaders

76 - TOP PICK! The Reality of Buying Your First Business with Chandler Reed Oct 28, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), and Chandler Reed (https://x.com/ChandlerReedSMB), as we discuss the realities of buying your first business. Chandler, who has taught over 200 people through his SMB Bootcamp, shares his journey of acquiring his first company, the challenges of buying a "sweaty" business, and why he chose to buy himself a job.

We get into the details of how Chandler found and negotiated his first deal, why the purchase process isn't all rainbows and butterflies, and how operating the business can be harder than the acquisition itself. If you’re thinking about buying your first business, this episode will give you an honest look at what it truly takes to go from buyer to operator.

Questions this Episode Answers:

How did Chandler find and negotiate his first business acquisition?
What are the biggest challenges of buying a small business?
Why did Chandler choose to buy himself a job, and what did he learn from it?
What are some misconceptions about owning and operating a business?
How can you structure a deal to minimize risk while buying a business?

__________________________
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 Chandler Reed and His Business Journey
00:19 Chandler's First Business Deal
00:44 Challenges and Lessons in Business Operations
01:04 Overview of Get Green NOI
01:43 Chandler's Entrepreneurial Beginnings
04:20 Business Growth and Market Challenges
06:24 Financial Struggles and Recovery
09:05 Newsletter Promotion and Business Insights
09:38 Business Structure and Deal Negotiation
13:14 Project-Based Business Model
15:56 Leveraging Utility Providers for Rebates
17:04 Introducing the Aquamizer: A Game-Changer in Water Efficiency
18:03 Cold Call Campaigns and Customer Acquisition
18:55 Exploring Business Opportunities and Margins
20:03 Navigating Market Trends and Challenges
22:46 Lessons Learned and Future Strategies
29:22 Rapid Fire Questions and Personal Insights
31:16 Conclusion and Where to Find More

75 - The Secret to Profiting from AI Automation While Saving Clients Thousands with Chris Koerner Oct 25, 2024

Show notes

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨
Join me, Nik (https://x.com/CoFoundersNik), and my business partner, Chris Koerner (http://tkopod.co/p-x), as we sit down to brainstorm some fun business ideas. In this episode, we explore the concept of starting an automation agency focused on Zapier vs. Make.com. We talk about the potential of AI-generated family photos as a business and we also dive into a few seasonal business ideas that could generate quick cash flows during peak periods, as well as one hilarious idea for a dating show that, frankly, somebody needs to make happen.

Whether you're looking for your next business / side hustle or just want to hear how we approach turning quirky concepts into potential business models, this episode is packed with inspiration. Enjoy!
Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How could an automation agency focusing on Zapier vs. Make.com add value to small businesses?
What is the potential for an AI-generated family photo business, and how do you start?
How do you identify and launch seasonal businesses that can be profitable in a short timeframe?
What's the concept behind the dating show idea, and how could someone execute it?

__________________________
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
01:13 Viral Tweet Sparks Discussion on Remote Jobs for Introverts
01:38 The Challenges and Opportunities of Job Boards
02:17 Innovative Job Board Ideas Based on Personality Types
02:31 Exploring Niche Job Boards and Their Potential
04:43 Technology and Implementation of Job Boards
08:14 Seasonal Business Opportunities: Halloween and Beyond
21:18 The Emotional Impact of Fame
22:02 Business Ethics and Unethical Ventures
22:36 Family Picture Day Struggles
23:30 AI in Photography: A Game Changer
25:02 The Future of AI-Generated Family Photos
30:43 Zapier vs. Make: Automation Tools Showdown
39:17 AI's Role in Blue-Collar Jobs
40:29 The Efficiency Revolution: AI in Diagnostics

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