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The Koerner Office - Business Ideas, Advice & Deep Dives
How to Cash in from Other Companies’ Email Lists (HoldCo Bros) Ep. #86
Nov 1, 2024
Discover the journey of a reinvented vending machine business, now called Side Vending, as the hosts share wild tales of entrepreneurship. They analyze the rise and fall of The Pro's Closet and reveal smart strategies for monetizing abandoned email lists. Explore the innovative concept of 'Negotiations as a Service,' where the philosophy is all about maximizing value. Plus, get a sneak peek into upcoming discussions on leveraging AI tools for business efficiency and exciting new ventures. Tune in for unique insights and fresh business ideas!
27:26
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Quick takeaways
- The pivot from a perfume vending business to diverse offerings, driven by strong sales and social media engagement, emphasizes adaptability in entrepreneurship.
- The case of The Pros Closet underscores the volatility of e-commerce, highlighting the risks associated with overestimating inventory demand and profitability.
Deep dives
Revamping the Vending Machine Business
A recent pivot in a vending machine business involves expanding beyond perfume sales to include various other vending machines. This shift was prompted by the initial success of perfume vending machines, which generated over $100,000 in sales, and the fact that this niche isn't as popular in the United States as it is in Europe. After losing key sales personnel, the business was able to hire three new sales stars and now offers products like cotton candy and motorcycle helmet cleaning vending machines. The founders discovered that leveraging social media for promotion could drive substantial interest, generating over 2,000 leads for the helmet cleaning machine alone.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode