Nikonomics - The Economics of Small Business

🚨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

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I speak with Brad Smith (https://x.com/bradsmithcoach), founder of Automation Links. We discuss how he helps businesses automate their marketing efforts, increase their reach, systemize their processes to scale effectively, and how all of this has helped him get investment opportunities. Brad shares insights into his journey, the evolution of Automation Links, and the secrets behind his impressive 80% margin business model. We explore the critical aspects of digital marketing in the age of AI, including CRM (Customer Relationship Management), SEO (Search Engine Optimization), paid ads, and organic social content. Also, we dive deep into the somewhat controversial concept of "pixel tracking" and the power of "omnipresent advertising".Questions This Episode Answers:• Are our phones always listening to us?• How does Automation Links simplify marketing for small businesses?• How can digital pixel tracking reduce customer acquisition costs?• How does omnipresent retargeting boost sales and engagement?• Why is staying lean and profitable sometimes more valuable than aggressive scaling?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 Introduction to Brad and His Business01:17 The Role of Automation Links02:07 Revenue and Growth Insights03:55 Investment Opportunities and Business Philosophy10:57 Digital Marketing Channels Explained14:19 The Power of Pixels in Marketing17:17 Setting Up Pixels for Your Business19:06 Targeting Your Audience Effectively19:39 Setting Up Pixels for Better Ad Targeting20:35 Using Ads to Boost Organic Growth22:09 Leveraging YouTube and Google's Ad Network22:52 Pixel Tracking for Small Businesses24:05 Practical Examples and Tips for Businesses26:39 Choosing the Right Channel and Content Strategy33:36 SEO and AI: The Future of Search35:57 Content Calendar Strategy36:25 Conclusion and Final Thoughts

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Andrew Johnson (https://x.com/goodefoodsfam) about Goode Foods, the family business his father started after leaving pharmaceuticals. Andrew recounts how his dad leveraged his sales skills and network to build a food brokerage, land a contract with WIC centers, and expand into retail with their own brand of canned goods. He also shares how the COVID-19 pandemic led to massive growth and the decision to remain family-owned after his father’s passing.Questions This Episode Answers:How did Andrew's father use his sales experience to start a food business? What was the golden age of Goode Foods?How did Goode Foods expand its retail presence? How did the COVID-19 pandemic impact Goode Foods? How did the company scale up to meet the surge of sales during the pandemic? 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 Highlights00:31 Introduction and Guest Welcome00:43 The Origin Story of Goode Foods01:36 Family Background and Early Influences03:46 Transition to Entrepreneurship05:53 Building the Business from Scratch07:41 Expansion and Government Contracts15:28 Entering the Retail Market17:38 The Birth of the Goode Brand21:57 The Birth of Goode Foods22:36 Breaking into Retail Giants24:00 Navigating the Complexities of Retail28:16 The Baby Food Opportunity29:44 Pandemic-Induced Boom35:14 Scaling and Expansion39:44 Post-COVID Adjustments39:50 Family Legacy and Future Plans

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy) as we dive into AI app builders and explore lessons learned from a billionaire. Chris shares his plan to test AI-enabled app builders like Cursor and Replit to create a calorie counter app, aiming to identify the most efficient platform. He also recounts building a tool with Replete that analyzes vast financial data, potentially boosting a company's value significantly. Lastly, Chris reflects on insights gained from spending time with a Texas billionaire, focusing on his unique office setup and long-term strategic thinking.Questions This Episode Answers:What is the potential value of using AI to analyze large financial datasets?How can documenting current business processes prepare you for integrating AI agents?What management and decision-making insights can be gained from observing successful leaders?How can content creation and sharing lead to unexpected opportunities and collaborations?Links and Resources:https://replit.com https://www.cursor.com 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 Introduction to Operator Usage01:27 Experimenting with Multiple AI Tools04:44 Preparing for AI Agents08:04 Building a High-Value AI Tool14:29 Insights from a Billionaire17:51 The Shared Office Dynamic18:32 Overqualified Team Members19:11 Engaging and Direct Leadership20:23 First Impressions and Office Culture22:45 Action-Oriented Decision Making24:09 Open Communication and Transparency28:41 Long-Term Vision and Thinking30:14 Validating Through Thought Processes33:42 Encouraging Action and Sharing33:44 Different Paths to Success

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I speak with Eric Pacifici (https://x.com/SMB_Attorney) from SMB Law Group, about his journey and insights on navigating the M&A landscape, mistakes that first-time business buyers make, and current trends in the SMB market. Eric discusses how his law firm became a preeminent name in SMB transactions, the crucial aspects of SBA loans, and underhyped opportunities in the market.Questions this Episode Answers:How did Kevin Henderson, Eric's partner, become known as the number one M&A attorney in Texas by deal count, and what unique approach does SMB Law Group take in handling SMB transactions?.What are the biggest mistakes first-time business buyers make, and what crucial advice does Eric offer to avoid these pitfalls?What is a confession of judgment, why is it dangerous for business buyers, and how can buyers protect themselves from this mechanism?How do sale and leaseback transactions work, and why are they an underhyped opportunity for business buyers looking to acquire businesses with real estate?What does the structure of deals with investors actually looks like in the SBA?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 The Rise of SMB Law Group02:57 Building a Business in M&A Law05:53 Kevin Henderson: A Case Study in Success09:12 Navigating the M&A Landscape12:00 Systematizing the Deal Process14:45 The Importance of Experienced Counsel18:04 Post-Closing Support for Clients20:55 Common Mistakes of First-Time Buyers24:13 Understanding Confession of Judgment Mechanism27:04 The Importance of Transition Services30:25 Navigating the M&A Market for SMBs33:12 Valuations and Market Dynamics38:53 Investor Structures in Self-Funded Searches45:45 Exploring Sale and Leaseback Transactions

In this engaging conversation, Erik Kaiser, a successful entrepreneur known for launching the AI recording device Crush, explores the power of desire in building a business from scratch. He shares insights on how ADHD traits can spark entrepreneurial creativity and the vital role of intellectual stimulation. Erik emphasizes the importance of constraints in bootstrapping and the challenges of brand incubation. He also delves into the journey from idea to market, detailing the development of Crush and its potential to revolutionize communication technology.