A product business is the 10,000th bottle of nut-based milk that you sell at the grocery store. It's vastly easier to produce and to sell than the first one was. That being said, usually a product-based business requires a lot more up-fronted investment. Oftentimes the cost of customer acquisition is such that the payback period takes longer.
#404: When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt.
Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue.
In this episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback.
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