Nikonomics - The Economics of Small Business

Chris Koerner, a business partner of Nikolas Hulewsky, joins the conversation to discuss advanced AI tools and their impact on small businesses. They evaluate which research tool, Perplexity or ChatGPT, leads for certain tasks. The duo also dives into innovative concepts like custom GPTs and the surprising rise of banana ketchup in the U.S. market. From discussing potential business ideas to exploring interactive entertainment ventures, they offer insights into how AI can unlock new opportunities and market trends.

In this engaging discussion, Derek Kolstad, a newsletter expert with over 600,000 subscribers, shares his secrets for organic growth without paid ads. He breaks down effective strategies for crafting compelling content and building user engagement. Derek discusses diverse monetization methods, including ads and affiliate marketing, and addresses challenges unique to personal newsletters. With actionable tips and insights, he inspires ambition in growing subscriber bases, including the goal of hitting 10,000 in just 60 days. Perfect for aspiring newsletter creators!

In this engaging discussion, Amanda Orson, founder of Galleon, shares her vision for disrupting the outmoded real estate industry with a commission-free marketplace. She explains the frustration with outdated practices and high commission rates, revealing a staggering $100 billion spent on commissions in 2022. Amanda emphasizes the importance of identity verification in transactions and introduces innovative strategies to connect sellers with vendors directly. Her lean approach to business, termed 'seed strapping,' hints at a revolutionary path for real estate.

Chris Koerner, a partner in entrepreneurial brainstorming, joins for a lively discussion on quirky business ideas. The duo explores a unique marketplace for products free from microplastics, connecting sourdough baking with environmental concerns. They dive into leveraging USPS for marketing and unlocking government subsidies for entrepreneurs. The conversation takes a turn to innovative uses of AI in data collection and potential health business trends, merging creativity with practicality in today’s economy.

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Ethan Kohan (https://x.com/ethan_kohan). Get ready for a wild ride as Ethan shares the incredible story of his entrepreneurial journey, starting with a simple idea for a vending machine in his fraternity house selling Juul pods.We dive into the highs and lows, from making serious money quickly to losing it all in sports betting, and how that unexpected experience led him to become "Vegas" himself by starting a sports book!We then explore the evolution of his business, Podplug, as it scaled from college campuses to bars, the challenges he faced with COVID-19, and his current focus on building a strong foundation for franchising his smart nightlife vending machine business, now offering a diverse range of convenience items.Questions This Episode Answers:Tell me about your business?Did you have to pay rent for this machine?Have you always been a hustler?What was patentable?Why did you go away from individuals selling the dual pods and go all in on, let's just place vending machines at these locations?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 From Loss to Opportunity: The Betting Journey14:48 The Birth of Podplug: Vending Machines and Hustling25:21 Transitioning to Vending Machines30:32 Scaling Operations and Revenue Growth35:18 Navigating Challenges During COVID-1939:07 Current Operations and Future Plans42:23 Franchising the Business Model49:07 Revisiting College Markets and Future Success

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Brian O'Connor (https://x.com/BrianFOConnor), a serial entrepreneur who transitioned from the corporate strategy world at Deloitte to building multiple successful businesses, including a fractional CMO company and a staffing company.We dive into his journey, exploring the motivations behind his entrepreneurial leap from a lucrative corporate career and the pivotal moment involving a PPP project and a memorable gift card. Brian shares insights on growth strategy, his experience with product market fit, and the key frameworks he uses, like the choice cascade from the book Playing to Win, to help businesses define their competitive advantage in both blue ocean and red ocean markets.Hear about the practical application of strategic thinking and the evolution of his ventures.Questions This Episode Answers:Why did Brian O'Connor leave a high-paying corporate job to become an entrepreneur?What is the choice cascade and how can it be used in business strategy?What's the difference between a red ocean and a blue ocean in business?How does Brian O'Connor define product market fit?What key elements should businesses consider when building their management systems?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Introduction to Brian's Entrepreneurial Journey01:23 Leaving the Corporate World02:10 Managing a Massive COVID-19 Project03:40 The Decision to Become a Fractional CMO05:48 Understanding Growth Strategy and Competitive Advantage07:42 The Choice Cascade Framework10:42 Strategic Choices for Business Success16:41 Balancing Strategy and Execution in Early-Stage Businesses20:47 The Evolution of Business Questions21:46 Balancing Confidence and Speed in Business Decisions22:07 Launching Business Units in Mexico: A Case Study24:51 The Role of Strategy and Execution in Small Businesses27:26 The Journey to Product-Market Fit30:44 The Importance of Positioning and Iteration34:56 Innovative Pricing Models in Talent Agencies38:58 Advisory Consulting as a Competitive Advantage

Join Chris Koerner, a growth marketing strategist and business partner to Nikolas Hulewsky, as they unravel the intriguing theory that Jack Dorsey might be Satoshi Nakamoto. They discuss the balance entrepreneurs must find between hands-on involvement and effective delegation. Discover inventive marketing tactics using Airdrop at conferences and the nuances of customer lifetime value. With humor and insight, they explore the implications of anonymity in crypto and the exciting transition phases for business founders.

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Jack (https://x.com/thehvacjack) on Nikonomics!We dive into the surprisingly "sexy" world of home services, specifically HVAC and plumbing. Hear Jack's story of leaving a comfortable corporate job managing operations for nine different wineries to acquire a sub $1 million HVAC company in Middle Tennessee in 2022.He shares the wild ride of growing from a lean operation to a business slated to do $5-6 million this year with around 20 employees, navigating unexpected challenges like everyone quitting on day one!We also touch upon his entrepreneurial past, including an agricultural repair company and even a Bitcoin mining farm in Reno. Discover how he's leveraged both organic growth and strategic tuck-in acquisitions to rapidly scale his business and his insights on using overseas talent.Questions This Episode Answers:What's your company's current size and scope in the HVAC and plumbing industry?When did you decide to jump into owning this HVAC company?Considering you had a background in operations at wineries, why choose the HVAC space specifically?How much did you initially pay for the business you acquired?What was your immediate reaction when almost all the employees quit the day before you took over?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Highlights & Introduction00:35 Jack's HVAC Business Overview01:18 Jack's Entrepreneurial Journey02:49 Bitcoin Mining Ventures07:31 Challenges in HVAC Business15:11 Growth Through Acquisitions18:38 Reinvesting in Business Growth19:10 Acquisition Strategies and Challenges20:05 Learning the Business Inside Out24:01 Scaling with Overseas Talent29:44 Advice for Hiring Overseas Talent34:20 Reflecting on the Journey

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Thomas Rudy (https://x.com/rudythesnowman)!We dive deep into Thomas's fascinating entrepreneurial journey, starting way back with some rule-breaking mystery boxes on eBay in the early days of online business. We explore how he transitioned from that to the world of retail arbitrage, his surprising detour through college basketball (and almost becoming an accountant!), and ultimately his path into web development and the building of a successful performance marketing agency, 1020, which he eventually sold to Benzinga.We also uncover the inner workings of performance marketing, the incredible growth he spearheaded at Benzinga, and his insights on the ever-evolving landscape of SEO and affiliate revenue.Finally, we delve into his latest venture, Data Shopper, a company tackling data in a whole new way, moving beyond reliance on giants like Google and Meta. It's a story of hustle, scrappiness, and constant evolution in the world of business.Questions This Episode Answers:What was your very first online business ventureHow did you transition from basic programming to building and selling a marketing agency?What exactly is performance marketing?How did your performance marketing strategies contribute to Benzinga's rapid growth?How does your new company, Data Shopper, help businesses target customers without solely relying on Google and Meta?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/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Highlights00:30 Introduction to the Entrepreneur's Journey00:52 The eBay Mystery Box Venture04:41 Transition to Software Development06:58 Building and Selling an Agency07:34 Performance Marketing Explained10:02 Success with Benzinga19:31 Challenges in SEO and Marketing22:06 Introduction to Data Shopper23:50 How Data Shopper Works28:06 Legal and Ethical Considerations31:05 Conclusion and Future Plans

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨In this episode, we feature Tyler, a listener who acted on our B2B stump grinding idea after hearing it on a previous episode, which led him to quit his 9-to-5 job. Tyler shares how he followed our advice word-for-word, testing the concept in Boise before launching in Provo. By implementing our strategies, he achieved impressive results, with $23,000 in September alone. He provides key insights into building relationships with tree trimming companies, his pricing strategy, and cold outreach techniques and more.Share your ideas with us:Nik@cofounders.comChris@cofounders.comEnjoy 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/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Highlights00:37 Tyler's Journey: From B2B Sales to Stump Grinding01:13 The Initial Spark: Discovering Stump Grinding01:41 Building the Business: Early Challenges and Successes02:27 The B2B Sales Connection04:41 Testing the Market: Boise vs. Provo06:03 First Jobs and Early Experiences12:38 Overcoming Hurdles: Mistakes and Lessons Learned15:44 Revenue Growth and Scaling the Business18:18 Financing the Stump Grinder18:13 Monthly Earnings Breakdown20:38 Building Business Relationships22:19 Pricing and Payment Structure23:55 Marketing Strategies30:10 Future Business Prospects33:25 Conclusion and Final Thoughts