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

🚨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