Eric Nashbar is a serial entrepreneur who started four business ventures, grew sales to over $35 million a year, managed over 350 people, received a patent and sold those companies for over eight digits – all before the age of 40. Tune in to Million Dollar Monday to hear as Nashbar shares his story and key advice with Host Greg Muzzillo. 
Chapter Summaries: 

• 00:39 - Introducing Eric Nashbar
• 03:54 - Spike Nashbar
• 07:23 - Bike Nashbar
• 09:51 - Choice Uniforms
• 12:13- FaxBetter
• 15:52 - Coke Machine Strategy
• 20:15 - Key Advice
• 23:40 - Future Dreams

Key Takeaways: 

• I found a need and that I was looking for a size 12 high top leather volleyball shoe. And I kept ordering it from the companies were out there and they just never had them in stock and they just, weren't doing the job. I've learned this business. I worked summers; I worked the whole time with my family business. I could do this better. So that’s kind of the inspiration for my first company.
• I became the president of Bike Nashbar, I increased the sales to 35 million and tripled the net income. 
•  I talk about the importance of being able to move from a critical mess to critical mass. And sometimes the critical mess that sort of happens in the beginning years. And we can vision we're entrepreneurs. We can envision, what does it look like on the other side, when we get to critical mass, but sometimes it takes either too much money, too much time, or whatever to get to the critical mass part. 
• But we did find when we started really looking at our company was people just wanted a fax line. I was astonished; they just wanted a fax line, which seems so non-techy.
• it is a freemium model that I developed, which is unique to my knowledge. With normal freemium models, you give your credit card and you get 30 days. And if you don't cancel in 30 days, they start billing. 
• I learned this in school somewhere that everything should approach a Coke machine analogy in your e-commerce website, the Coke machine is one click. You put your money in one click, and it either delivers the product instantly cold, exactly what you want or a little red light comes on, says, Nope, that doesn't work, click somewhere else – click once. 
• I like reoccurring revenue stream businesses. In other words, you sell once and you collect almost forever. I like high margins. I like many small customers instead of a couple large ones.
• I believe that when you start a business, you should have a customer base that has some kind of sustainable competitive advantage, something that sets you apart from everybody else.
•  I like to do something versus do nothing, because even if you're doing something, you're going to learn something from it.

 Resource Links: 

• Eric Nashbar LinkedIn 
• Fax Better LinkedIn
• Personal Website 
• Instagram 
• Twitter
• The Florida incubator (co-founded by Eric Nashbar) 

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