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Nikonomics - The Economics of Small Business
78 - Selling Drugs, Vending Machines and Stripping Bankrupt Companies for Parts with Chris Koerner
Nov 1, 2024
Chris Koerner, a savvy entrepreneur and Nik's business partner, shares insights from their impressive journey generating over $100 million in various ventures. They discuss clever strategies for acquiring assets from bankrupt companies and the wild success of their viral perfume vending machines. The duo reflects on the challenges of rebuilding sales teams and the realities of unexpected business failures. Don't miss their entertaining 'marry, date, or kill' segment where they evaluate intriguing entrepreneurial ideas.
28:10
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Quick takeaways
- The podcast highlights the potential for entrepreneurs to acquire assets from bankrupt companies through social media outreach, unlocking unique business opportunities.
- It also discusses the transformation of viral ideas, like perfume vending machines, into profitable ventures while emphasizing the importance of adaptability in entrepreneurship.
Deep dives
Generating Revenue from Business Ideas
The discussion revolves around innovative business strategies that can be executed by anyone, focusing on the potential of turning unexpected viral moments into revenue-generating opportunities. The hosts share their journey of creating a successful business from a viral post about perfume vending machines, realizing they have inadvertently entered a lucrative market. They emphasize the significance of simply reaching out to entrepreneurs or business owners through social media to acquire assets from bankrupt companies, showcasing a strategic approach that anyone can replicate for financial gain. This method not only democratizes business opportunities but also illustrates that substantial income can stem from proactive outreach and unique ideas.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode