245 - He Built a 9-Figure Business & Helped Over 1 Million People Start Theirs with Stu Draper
Nikonomics - The Economics of Small Business
Why Service Businesses Are the Lowest-Risk Start
They discuss benefits of agency/service models for new entrepreneurs: low risk, high cash flow, and opportunities to learn.
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Join me, Nik (https://x.com/CoFoundersNik), as I interview Stuart Draper about how to get your first customer and scale from $0 to $2M in 4 years.
I had a freaking treat talking to Stu Draper today. He's an incredible startup founder who just had an eight figure exit from his EdTech company, Stukent, which helped over a million people learn digital marketing. His companies have been on the Inc 5000 list ten times, and he knows exactly how to get your first customer when you're starting from zero.
We chat about his journey starting his first digital marketing agency, getfoundfirst.com, during the 2008 recession and why he prioritized being a family man by building a professional baseball field and indoor-outdoor pool over buying a Lamborghini.
Stu shares actionable insights on how entrepreneurs can secure their crucial first customer (hint: it might involve working for free) and explains why starting a service-based business is often the best low-risk way for first-time founders to learn entrepreneurship and get in the game.
We dive deep into why catching the early wave of AI automation agencies today is just like catching the digital marketing wave 15 years ago—and why AI agency opportunities mirror what made so many digital marketing agency founders millionaires by age 32.
Finally, he tells us why focusing on sales and marketing—not mastering your P&L or balance sheet—is the most important part of building a successful business, and how he scaled to eight figures without being a financial expert by hiring a great CFO.
Enjoy the conversation!
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QUESTIONS THIS EPISODE ANSWERS:
What is the most important first step in getting from zero to your first customer?
Why is starting an AI automation agency today similar to starting a digital marketing agency in 2008?
What is the lowest-risk path for a new entrepreneur to get in the game?
How did Stuart Draper use a free customer strategy to land his first paying client?
When scaling a business from bootstrap to exit, why should startup founders focus on sales and marketing instead of the P&L?
How do you create mission vision values that turn customers into believers?
What's the best way to get your first customer when you have no LLC, no website, and no business email?
How did Stu scale to an eight figure business without being a financial expert?
Why are service-based businesses the best first business for entrepreneurs?
What are the biggest business opportunities in 2025 for first-time founders?
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Love it or hate it, I'd love your feedback.
Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.
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This week we covered:
00:00 The Journey of Growth and Learning
02:59 Navigating the Digital Marketing Landscape
05:47 Getting Your First Customer
09:06 The Power of Vision and Shared Language
11:58 Innovating in Education Technology
14:52 The Importance of Sales and Revenue
18:11 Lessons from Entrepreneurship
21:01 Opportunities in AI and Service-Based Businesses
23:55 Final Thoughts and Future Opportunities
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