BiggerPockets Business Podcast 21: Reframing the Rat Race: How to Use Your Day Job to Prepare for Entrepreneurship with James Anderson of Forged Axe Throwing
What went into building an (almost) seven-figure axe throwing business that earns hundreds of five-star reviews?
For James Anderson, it all started well before he left his 9 to 5.
As a marketer and tour guide, he learned how to create buzz, split-test, design systems, and craft world-class experiences… skills James later put to use bootstrapping the Whistler, B.C.-based business he co-founded.
In this episode, you’ll learn why James believes market research is “the most important work that you never get paid for.” He gives us his tips for measuring the effectiveness of both online AND offline marketing campaigns, reveals his company’s current profit margins, and shares a hilarious story about an exhausting grand opening that forced him to temporarily shutter the business on its very first day.
You’ll also learn how James diversified his business by developing scorekeeping software, how he handles insurance, what lessons he learned from a previous Christmas light venture, and the BIG opportunity most entrepreneurs aren’t taking advantage of today.
James’ story is a real blueprint for how to transition from a traditional day job into entrepreneurship, so if you’re interested in doing the same, make sure you listen to this episode today.
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In This Episode We Cover:
- Using your 9 to 5 as an internship for entrepreneurship
- How James started with planting trees for 10 cents
- How he got the idea of Forged Axe Throwing
- What “soft adventure” is
- James and his partner's business plan
- How they found venues for axe-throwing
- Their marketing strategy centered around creating excitement
- Why they had to close on their first actual day of business
- How to automate customer service
- Traditional marketing vs. online marketing
- How to track offline marketing efficacy
- Decreasing “friction” for customers
- Why they didn’t franchise
- Opportunities for buying businesses
- And SO much more!
Links from the Show
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