15 (not so common) principles of entrepreneurial success
1. Add value first Gain trust by providing something of value first without expectation. This gets you very far with customers and personal relationships. Don’t squeeze your customers for every penny, especially early. Too many people are tight lipped with helpful advice. Share it. Gain trust and thus loyalty and profit later. 2. 80 percent of your […]Read More ...
Its never a double blind test
Wine sommeliers often can’t tell the difference between a $20 bottle and a $2,000 bottle in a double blind test. The food at the $20/person restaurant and the food at the $200/person restaurant. The beer at the top rated brewery or the guy brewing in his basement. In a double blind test – who has […]Read More ...
Ego is the Enemy
Ego is good early on. The confidence. The drive for status and image. It gets us far. It gives us the courage to disregard the anxiety and fear of failure. The lizard brain that tells us to run for cover when things get scary. We all agree that you don’t need to be a superhuman […]Read More ...
The Lawn Squad Case Study
Back in 2012, when I was unsure of the success of my storage venture, I casted a few other nets. One of them was a Lawn Care google place and wordpress website with a few pages. As you know I had mowed a few lawns in high school so I got a few of those […]Read More ...
Think LOCAL and start SMALL
Don’t forget to think LOCAL and don’t be afraid to start VERY SMALL. Even if you plan to start an internet company. Start LOCAL. Start a business where you can interact with your customers face to face. Even Zuck founded facebook only at Harvard. Roll out a city at a time. Sell something local at […]Read More ...
Read this before you bring on a partner
Show notes from podcast episode 28 First of all there are a lot of different types of partnerships. In this article we discuss the co-founder. Someone who you bring on initially and they get ownership no matter what. No vesting schedule. No cliff. No way out if things go wrong. This article is the cautious […]Read More ...
An interesting reflection on the podcast so far
An interesting thing is happening with the podcast. I’m getting a lot of emails from people who have found holes in markets. But their solution is to help the businesses get more customers. Lead generation, website consulting, SEO work, etc for child care centers, HVAC contractors, doctors and all the other 1985 businesses. They don’t […]Read More ...
What we can all learn from Chick-fil-A
Simplicity A small menu done really really well. Three types of sandwiches (fried, spicy fried, and grilled). Nuggets. Fries and shakes. Boom. Thats it. They take most of their orders with the walk up servers and 90% of customers don’t even need to look at a menu because after you’ve visited once you know it […]Read More ...
Faculties might have to illustrate a frequent graduate is calculated yearly mortgage fee doesn’t exceed 20% of 8% of the overall profits or his or her discretionary income.
The on line research firms aid students in obtaining hold of the easiest thesis businesses within the industry. The service can do the homework for you so you may possibly avoid from performing. Clearly, custom papers writing services aren’t free. Custom Assist The present world of article writing providers has changed because of the need […]Read More ...
Effective marketing is laser focused
The highest ROI you will ever achieve is when you spend money to reach out and touch the people who need exactly what you are selling. Who is the one type of person who your business is designed for? Who is your perfect customer? What life event just happened to them that makes them need what you are selling? […]Read More ...
Businesses I Love
These are all businesses and markets that I love. The competition is weak. The market is growing. The costs and risks are low. The odds are good. You can analyze the market and make accurate decisions on where there is opportunity to thrive. You can win. Start small. Start low skilled and low risk if […]
179: How profitable is a self storage facility?
In today’s episode, Nick talks about a self-storage facility that he and his partner bought in July of 2019. He goes over the numbers of buying it, operating it, and income from units being rented out, as well as expenses. His goal is to show you just how profitable a self-storage facility is. This property […]
Idea Generation 101
This is an analytical approach to identifying and exploring new business opportunities. This is designed around service based businesses but the concepts can be applied to any business. In order to compete you need to have a competitive advantage in one of three areas: speed, price or quality. The goal here is to look for […]
Notes from Podcast Episode 4. These are the essential tools you can use to start your business cheaply and have all the tools you need to operate right off the bat. Step 1: Generate your idea Consider using this guide as a resource. You can also take a look at this list of businesses I […]
Businesses I Hate
Prefer a more positive outlook? Check out the businesses I love. I don’t like businesses that have a lot of passionate people involved. Businesses that are fun and are a lot of people’s hobbies. Passionate people think with their hearts instead of analyzing the markets. Passionate people make poor decisions. Passionate people start companies because […]
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