In this captivating discussion, Michael Girdley, a serial entrepreneur and investor known for ventures like Alamo Fireworks, shares his wisdom on launching businesses in 2025. He emphasizes avoiding buying a business as a first venture, advocating for low-capital service businesses instead. Michael identifies overrated market opportunities while highlighting promising sectors. He also discusses innovative business models, including unique event planning strategies that leverage botanical gardens, showcasing the power of practical experience and strategic decision-making.
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volunteer_activism ADVICE
Learn By Being In The Room
Work inside a business you admire for 1–2 years to learn how operations and P&Ls actually work.
Save a year of living expenses while you learn so you have optionality to take bigger risks later.
volunteer_activism ADVICE
Build A One‑Year Cash Cushion
Live frugally and accumulate cash equal to about a year's living expenses before launching your own business.
That cash gives you optionality and reduces short‑term pressure so you can think long‑term.
volunteer_activism ADVICE
Start Low‑Capex Services First
Avoid buying a business as your first venture if you're young and inexperienced; start something low-capex instead.
Launch a B2B services or staffing business that can cashflow quickly and requires little capital.
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🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨 Join me, Nik (https://x.com/CoFoundersNik), as I speak with Michael Girdley (https://x.com/girdley), a serial entrepreneur and investor, about building a business, avoiding common mistakes, and identifying future opportunities.
Michael shares insights from his diverse experiences, from Alamo Fireworks to Gertling Media, emphasizing the importance of experience and strategic business choices.
We delve into overrated business opportunities and explore unconventional business models.
Questions this Episode Answers:
What two-step process would Michael Girdley follow to build a business in 2025, and how would he make his first million dollars?
Why does Michael Girdley advise against buying a business as your first venture, especially for a young entrepreneur?
What are some overrated business opportunities in today’s market, and what sectors hold promise for the future?
What is Michael Girdley's contrarian belief about business, and how does it influence his perspective on career choices and entrepreneurial paths?
What unconventional business model does Michael find fascinating?
Enjoy the conversation! __________________________ Love it or hate it, I'd love your feedback. Please fill out this with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________ MY NEWSLETTER: Spotify: https://tinyurl.com/5avyu98y Apple: https://tinyurl.com/bdxbr284 YouTube: https://tinyurl.com/nikonomicsYT ___________________________
This week we covered:
00:00 Introduction and Guest Background 01:00 Business Ventures and Investments 01:44 Current Business Scale and Operations 03:09 Starting Over in 2025: Step-by-Step Guide 05:13 The Value of Experience and Financial Safety 07:11 Starting a Low-Capex Services Business 10:01 The Reality of Online Courses 14:19 The Hold Co Conference and Learning from Failure 19:44 Sympathizing with the Struggles of Entrepreneurs 19:15 The Fine Line Between Faking It and Failing 21:22 Excitement for the Upcoming Conference 22:09 The Concept of an Unconference 23:21 Challenges and Risks in Event Planning 24:28 Innovative Business Models in Event Management 29:22 Advice for Aspiring Entrepreneurs 32:24 Contrarian Views on Business Opportunities 35:16 The Importance of Personal Fit in Career Choices 38:32 Different Paths to Entrepreneurship 39:31 Conclusion and Final Thoughts
Nikonomics - The Economics of Small Business 