Nikonomics - The Economics of Small Business

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Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we discuss how AI agents can automate tasks, focusing on their potential to revolutionize both business and personal productivity.

We brainstormed various ideas for using AI agents, such as making restaurant reservations and gathering quotes for wedding planning. We also considered having AI agents call businesses for market research, gather data from different industries, and build newsletters based on that data

Questions this Episode Answers:

• How can AI agents be used to automate tasks like making calls for market research or to get quotes, and what makes this different from previous technology?
• What are some creative ways to productize and monetize AI agent technology, and why might focusing on a niche be a good idea?
• How can you acknowledge the awkwardness of AI agent calls, and why is it important to get ahead of the pause?
• What are some simple ways to start a business around teaching others how to use AI tools like Chat GPT, and how can that lead to more opportunities?
• How can you use AI agents to collect valuable proprietary information or sentiment, and what are some revenue models that could be built around that?

Enjoy the conversation!
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Please fill out this brief survey with your opinion or send me an email at [email protected] with your thoughts.
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This week we covered:

00:00 Introduction and Opening Banter
00:51 AI Agents and Restaurant Reservations
01:32 The Evolution of AI Technology
03:03 Washing Dishes and Creative Thinking
04:44 Business Ideas and Market Research
06:36 Wedding Planning with AI
11:47 The Future of AI in Everyday Tasks
15:09 Practical Uses of AI and Personal Experiences
20:08 Domain Names and Business Potential
21:06 Exploring Business Ideas: From Weddings to Parking Tickets
21:38 The Power of a Good Domain Name
22:06 AI's Transformative Potential
22:22 Teaching AI to the Next Generation
24:20 Entrepreneurial Opportunities with AI
25:00 Building a Business Around AI Education
31:47 Proprietary Information and AI Agents
34:41 The Value of Aggregated Data
39:45 Challenges and Costs of AI Agents
41:42 Final Thoughts and Future Applications

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Join me Nik (https://x.com/CoFoundersNik) as I sit down with Jas Singh (https://x.com/CreatingJas), to discuss his journey into local newsletters and how he grew his to 50,000 subscribers in just six months. Jas shares how he transitioned from an AI newsletter to a local newsletter focused on the city of Winnipeg, and how he leveraged his past experience in building a following of 35,000 followers to create a thriving community-based platform. He also explains why he chose to focus on local news, events and community initiatives instead of crime and politics.

In this episode, we explore the reasons why newsletters are becoming increasingly popular, focusing on how they allow creators to own the relationship with their audience, bypassing the limitations of social media algorithms. Jas also shares his strategies for content curation, using AI tools like ChatGPT to tailor his writing style, and his approach to ad sales, including how he prices ads for local businesses, and how he has scaled his business to 50,000 subscribers in 6 months.

Questions this Episode Answers:

• Why did Jas decide to switch from an AI-focused newsletter to a local newsletter?
• How did Jas grow his local newsletter audience to 50,000 subscribers in just 6 months?
• How does Jas use AI in his newsletter creation process, and what aspects of the newsletter are curated manually?
• What are the most effective strategies for acquiring subscribers, and how does Jas approach paid advertising on Facebook?
• How does Jas monetize his newsletter, and what are some of the key selling points for advertisers?
• What are the key elements of a local newsletter that make it a viable side hustle?

Enjoy the conversation!
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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 [email protected] with your thoughts.
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YouTube: https://tinyurl.com/nikonomicsYT
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This week we covered:

00:00 Introduction
00:45 Newsletter Journey and Growth
02:53 Understanding the Value of Newsletters
03:40 Local vs. Traditional Newsletters
04:40 Content and Structure of the Newsletter
06:14 Choosing the Right Newsletter Focus
10:03 Frequency and Content Management
14:55 Using AI and Manual Processes
20:01 Growing the Subscriber Base
22:52 Subscriber Acquisition Costs
23:56 Effective Ad Strategies
24:58 Subscriber Retention Insights
25:34 Exploring Acquisition Channels
30:23 Monetization Strategies
39:35 Revenue and Costs Breakdown
41:17 The Side Hustle Potential
42:54 Final Thoughts and Contact Info

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Join me Nik (https://x.com/CoFoundersNik) as I sit down with Kelie Morgan (https://x.com/keliemorgan), founder of 10th Street Talent, an executive recruiting firm that spun out of Permanent Equity, to discuss how she built her company and how it operates. Kelie shares her journey from being a stay-at-home mom and part-time fitness instructor to becoming a leader at a family-owned fitness center, then joining Permanent Equity and eventually launching 10th Street Talent. Kelie describes how the company is more of an internal talent partner than an external service provider, and that it focuses on finding transformational leaders for small to medium sized businesses in growth mode. She also explains how they utilize AI and other innovative strategies to improve the talent search process.

In this episode, we explore the genesis of 10th Street Talent and their unique approach to executive search, which involves a highly collaborative, strategic process to find the best talent for their clients. Kelie also talks about the importance of a "white glove" service and building a team focused on client fulfillment.

Questions this Episode Answers:

• How did 10th Street Talent evolve from an internal talent solution at Permanent Equity to a standalone executive recruiting firm?
• What does it mean to be a "talent partner" and how does that differ from traditional executive search firms?
• How does 10th Street Talent use AI and other innovative tools to enhance its search process and find the best talent?
• What is the ideal client profile for 10th Street Talent, and what is their service model?
• What does the financial structure of 10th Street Talent look like and what is Kelie's vision for the future of the company?

Enjoy the conversation!
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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 [email protected] with your thoughts.
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Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we dive into another episode of HoldCo Bros! We talk about our absolutely transformative 2024. It was a year of big wins and some pretty big fails, and we're breaking it all down. Is consistency overrated when it comes to content? We're debating that and more!

We discussed the world of content creation, going from cringe to building an audience of over a million people across multiple platforms. We explore how short-form video is like a lottery ticket - a small investment that can change everything. We also discuss how building an audience can create new opportunities, such as launching our vending machine business that already did over $200k in sales, as well as getting into some unsexy but profitable businesses. Of course, we're also talking about some tough lessons learned from our crypto business and other ventures that didn't work out. Plus, we're sharing our exciting plans for 2025. 

Chris's YouTube: http://tkopod.co/p-yt

Enjoy the conversation!
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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 [email protected] with your thoughts.
__________________________

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Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
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This week we covered:

00:00 Reflecting on a Chaotic Year
01:22 Quitting the Job and Embracing Entrepreneurship
02:31 The Power of Content Creation
03:59 Building an Audience and Exploring Opportunities
05:33 The Impact of Short Form Video
07:46 Turning Ideas into Reality
15:14 The Value of Consistency and Passion in Content
23:49 Exploring the Fun of Reporting
24:22 Big Wins and Validations
26:42 Building a Sales Team
29:05 Launching Repeat Leads
30:20 Investing in Communities and Businesses
37:25 Challenges and Failures
42:58 Looking Forward to 2025

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Join me Nik (https://x.com/CoFoundersNik) as I sit down with Dennis Unrein (https://x.com/dennis_unrein), a micro VC and SMB-focused investor, to discuss the evolving world of micro private equity and self-funded searchers. Dennis shares his journey from JP Morgan to launching Private Ventures Group (PVG), a firm that helps high-net-worth investors and family offices tap into private markets. We break down concepts like SPVs (Special Purpose Vehicles), the difference between EBITDA and SDE, and how to use media-driven strategies to find compelling deals.

In this episode, we also explore the growing trend of acquiring businesses in niche industries like elderly care and telecommunications testing, and why investing in retiring baby boomer businesses offers unique opportunities. 

Questions this Episode Answers:

• What is a self-funded searcher, and how does it differ from a traditional search model?
• How do SPVs simplify investments and deal flow for small businesses?
• Why are retiring baby boomer-owned businesses a goldmine for acquisitions?
• How can SDE and EBITDA metrics guide smart business purchases?
• What are the best industries to invest in right now for small-scale private equity?

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 [email protected] with your thoughts.
__________________________

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Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
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This week we covered:

00:00 Understanding Investment Metrics: SDE, Cashflow, and EBITDA
02:55 Navigating the Micro VC and SMB PE Landscape
05:47 The Shift to Self-Funded Searchers
09:07 Exploring the Self-Funded Searcher Model
11:54 Differentiating Between SDE and EBITDA
15:08 Demystifying Special Purpose Vehicles (SPVs)
21:05 Understanding Investment Entities and K-1 Partnerships
22:58 The Financial Burden of Self-Funded Searchers
24:24 Equity Structures in Self-Funded Searches
26:44 Navigating Debt and Equity in Business Acquisitions
29:40 The Risks of Operator Dependency in Self-Funded Deals
31:58 Building Deal Flow Through Content Creation
34:54 The Two and Twenty Model Explained
36:23 Advisory and Investment Strategies in SMBs
38:49 Identifying Opportunities in the SMB Space

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Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we dive into another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every week we get together to brainstorm new business ideas and share insights into our businesses.

This week, we talk about starting a Christmas tree rental service with delivery and pickup, acquiring tree lots from landscaping companies, and buying into this type of seasonal business. We also discuss robot lawn mowing and cleaning services, how you can help small businesses monetize email lists, and a business owner accountability platform to help entrepreneurs stay on track. 

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

• How can you start a Christmas tree rental business with recurring revenue?
  What’s the process for acquiring tree lots or buying into seasonal businesses?
  How can you create a profitable robot lawn mowing or cleaning service business?
  What are the steps to starting a business that helps small businesses monetize email lists?
  How can you launch an accountability platform to support business owners?

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 [email protected] with your thoughts.
__________________________

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Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

00:00 Highlights
00:32 TikTok Shop Concept Comes to Life
02:12 Christmas Tree Business Ideas
07:14 Exploring Landscaping and Tree Businesses
12:59 Innovative Uses for Autonomous Lawn Mowers
20:39 Exploring the Tree Farm Business
21:48 Monetizing Customer Email Lists
29:57 Business Owner Accountability Platform

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Connor Boyack (https://x.com/cboyack), the creator of the Tuttle Twins (https://tuttletwins.com) and president of the Libertas Network. Connor shares how he turned a simple idea into a $15M nonprofit, selling over 6 million books and building a media empire. We talk about the challenges of running a mission-driven business, creative fundraising models, and why teaching economic principles to kids is more important than ever. Whether you're curious about publishing, nonprofits, or scaling a big idea, this episode is packed with actionable insights.

Questions this Episode Answers:

• How did Connor scale the Tuttle Twins from an idea into a $15M nonprofit?
• What makes Tuttle Twins a unique business within the nonprofit model?
• How can entrepreneurs create a mission-driven business and still be profitable?
• Why is teaching kids about economics and entrepreneurship so impactful?
• What are the challenges and advantages of running a nonprofit media enterprise?

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 [email protected] with your thoughts.
__________________________

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Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

00:00 Highlights_The Rise of Tuttle Twins
03:02 Navigating Nonprofit and For-Profit Dynamics
05:54 The Mission-Driven Approach
08:46 The Impact of COVID-19 on Sales
12:09 Realizing the Power of Media
15:00 Overcoming Supply Chain Challenges
17:48 Entrepreneurial Journey and Lessons Learned
24:20 The Struggles of Early Entrepreneurship
25:49 Transitioning to Nonprofit Work
28:11 Financial Growth and Challenges
30:04 Revenue Streams and Business Models
32:56 The Nonprofit vs. For-Profit Mindset
35:51 Creating Wealth in Nonprofits
39:41 The Future of Libertas Network

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Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we dive into another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every week we get together to brainstorm new business ideas and share insights into our businesses.

In this episode, we explore college tuition negotiation and how to offer it as a service to save thousands for families and build a profitable business. Next, we talk about the idea of a local concierge service, catering to parents of college students, especially at SEC schools. It’s like an insurance policy for peace of mind. Finally, we discuss creative solutions for dead inventory, transforming surplus stock into revenue-generating opportunities.

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

• How can you turn college tuition negotiation into a profitable service that solves a major financial pain point for families?
• What makes the "Dean's List" local concierge service a unique business opportunity for targeting parents of college students?
• What are the best strategies for turning dead inventory into a thriving revenue stream?
• Why are niche services like these great opportunities for first-time business owners?

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 [email protected] with your thoughts.
__________________________

MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe
Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

00:00 Highlights
00:35 Introduction: The Untapped Potential of Negotiating College Tuition
01:33 Exploring the Concept: Why Isn't Tuition Negotiation More Popular?
03:14 The Business Opportunity: Tuition Negotiation as a Service
05:28 Strategies for Negotiating Tuition
11:12 Case Study: A Friend's Apparel Business Venture
17:45 Creative Ideas for T-Shirt Designs
19:00 The Success Story of 'God is Dope'
20:17 Marketing Strategies for T-Shirt Brands
23:59 The University Concierge Service Idea
30:20 Evaluating Business Ideas: Marry, Date, or Kill
33:46 Conclusion and Final Thoughts

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Mitchell Sorkin, aka “The ATM Guy” (https://x.com/Mitchell_Sorkin), to talk about the world of ATM businesses. Mitchell shares his journey from e-commerce and software to acquiring 900 ATMs and building a business generating $180,000/month in revenue. We talk about what makes ATMs such a scalable opportunity, how to negotiate deals on ATM routes, and the challenges (and opportunities) of working with merchants and managing capital instead of people. If you’ve ever wondered how the ATM business works or wanted a low-labor, high-margin venture, this episode is for you.

Questions this Episode Answers:

• How does the ATM business model work, and what are the revenue streams?
• What does it take to scale an ATM portfolio from a few machines to hundreds?
• How do you negotiate and evaluate deals on ATM routes?
• What are the biggest challenges in the ATM industry, and how do you overcome them?
• Why is managing capital often easier than managing people in small businesses?

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 [email protected] with your thoughts.
__________________________

MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe
Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

• 00:00 - Introduction to Nikonomics and Mitchell the ATM Guy
• 01:32 - The Basics of the ATM Business
• 02:07 - Scaling the ATM Business: From 3 to 900 Machines
• 04:06 - Revenue and Scale of the ATM Business
• 05:38 - Deep Dive into "Own and Load" vs. "Processing"
• 07:31 - Negotiating Buy Rates and Revenue Streams
• 09:25 - The Role of ISOs in the ATM Business
• 11:07 - Mitchell's Background and Motivation
• 13:42 - The Economics of an Individual ATM
• 15:09 - Valuing ATM Portfolios
• 15:57 - Net Income and Cash Flow
• 17:46 - Pros and Cons of Different Loading Methods
• 19:24 - Cash Flow and Valuation Multiples
• 22:20 - Profit Margins and Risks
• 24:52 - Useful Life of ATMs and Depreciation
• 25:28 - Bitcoin ATMs
• 27:13 - Growth Strategy
• 28:10 - Marketing Strategies
• 29:22 - The Power of Google Business Profiles
• 30:32 - Rapid Fire Questions
• 37:56 - Conclusion and How to Find Mitchell

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Emily Holdman (https://x.com/emilyleldridge), managing director at Permanent Equity. Emily shares her journey from journalism and economics to becoming a leader in acquisitions with a no-intention-to-sell philosophy. In this episode, we focus on intrapreneurship - the art of being entrepreneurial within a larger company, and why it’s a viable but often overlooked path to success. We discuss how Emily evaluates businesses, creatively solves problems in deal-making, and balances risk and opportunity while thriving in a non-founder role. If you’ve ever wondered how to make an impact without starting your own business, this episode is packed with insights you can’t miss.

Questions this Episode Answers:

• What is intrapreneurship, and why is it a viable path to success?
• How can you thrive as an entrepreneurial thinker within a larger company?
• What strategies does Emily use to evaluate businesses and balance risk?
• How can creative problem solving enhance deal-making and acquisitions?
• Why might a non-founder role offer unique opportunities for growth and impact?

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 [email protected] with your thoughts.
__________________________

MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe
Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
YouTube: https://tinyurl.com/nikonomicsYT
___________________________

This week we covered:

00:00 Highlights
00:34 Introduction and Background
00:48 Early Career and Internships
01:49 Transition to Permanent Equity
03:49 First Major Acquisition
05:15 Role Evolution and Business Growth
08:06 Navigating the Great Recession
09:51 Curiosity and Problem-Solving
15:58 Professional and Personal Reflections
21:42 Planning for Uncertainty in Business
22:15 The K-Shaped Recovery Post-COVID
23:26 Creativity in the SMB Community
24:42 The Importance of Self-Awareness in Business
29:19 Advice for Aspiring Entrepreneurs
33:50 Evaluating Business Models and Industries
40:33 Perma nent Equity's Future Ventures