My mom always told me "There's no such thing as a dumb question... Only dumb people!"What she meant was that those who DON'T ask questions are the dumb ones! At least, that's what makes me feel better about asking so many questions :)I've bought, run & sold dozens of companies in the SMB space, with multiple 7-figure exits. Over the past 5 years my companies have generated over $100M of revenue and Millions of dollars of shareholder value. Now I let my curiosity drive as I interview Entrepreneurs and ask them to walk me through how their businesses work.Nikonomics is a place for curious Entrepreneurs and Wantraprenuers hungry to learn. So come join our big group of DUMB people, ask some questions and maybe we will learn a thing or two together. Follow me on Twitter here: https://twitter.com/CoFoundersNik or @CoFoundersNikÂ
MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I interview Taylor Jones (https://x.com/MrJonesSTRs), the founder of strsearch.com.Have you ever wondered if short-term rentals (STRs) are as passive as they seem? I used to think so, but Taylor completely changed my perspective. He breaks down how he went from a sales guy to overseeing over $120 million in STR investments by treating it not as a real estate game, but as an operations business.We dive into his first investment—a cabin in the North Georgia mountains that he bought having never owned real estate before—and how it generated $22,000 in cash flow its first year.Taylor reveals the critical mistakes he made, the lessons he learned about market supply and demand, and how a single amenity like a pickleball court can add $40,000 to your annual revenue.We also get into the incredible tax benefits and how STRs can offer active losses to offset your regular income, something I wish I'd known sooner.Questions This Episode Answers:• How can a single pickleball court add over $40,000 in annual revenue to an Airbnb?• Why is a short-term rental business more about operations than real estate?• How can you use short-term rentals to legally reduce your taxable income?• What is the biggest mistake new STR investors make when choosing a property?• Why are large-group rentals and small, romantic getaways the hottest trends right now?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 The Allure of Short-Term Rentals02:55 Understanding the Operations Behind STRs05:42 The Journey into Real Estate Investment09:00 Lessons from Early Investments12:09 Scaling Up: From One to Multiple Properties14:56 Market Dynamics and Supply-Demand Imbalances18:11 Navigating the Real Estate Landscape20:55 Investment Strategies for Success26:00 Understanding Market Dynamics and Profitability30:13 Revenue Estimation and Occupancy Rates33:25 Tax Implications and Depreciation Strategies40:27 Investment Strategies for Short-Term Rentals47:31 Advice for New Investors in Short-Term Rentals
MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I interview Mike Hoffman (https://x.com/mrpassive). Ever wonder if you can actually create enough passive income to quit your job? In this episode, I talk with Mike, who went from being a college coach to living off the cash flow from his assets in just a few years.He shares how an observation at an airport led him down the rabbit hole of unattended retail and the vending machine business. We get into the nitty-gritty of what "passive" really means. Mike explains how he started by servicing his first machine himself (literally buying snacks at Costco with his daughter in the shopping cart) and built the systems that allowed him to scale to over 60 machines.He also reveals how the vending industry is being disrupted by new technology like micro markets and AI, creating huge opportunities for new entrepreneurs.Questions This Episode Answers:• How can a vending machine business generate enough income to replace a full-time job?• What does it really take to make a "passive" income stream truly passive?• How can you start a vending machine business with no money down?• Where are the best, most profitable locations to place a vending machine?• How is new technology like AI and micro markets changing the vending industry?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 Highlights01:02 Meet Mike Hoffman: The Passive Income Expert02:36 Mike's Journey from Coach to Entrepreneur03:27 Diverse Income Streams: Real Estate, Vending, and More04:22 Challenges and Strategies in Crypto Mining07:03 Building a Passive Income Empire09:35 The Vending Machine Business Model12:40 Scaling and Systematizing Vending Operations18:59 Community and Coaching for Aspiring Entrepreneurs20:29 The Disruption in the Vending Machine Industry21:18 Real Estate and Vending Machines: A Parallel21:48 Expanding Vending Routes in Chicago22:41 Building a Vending Community23:24 The Business Model and Revenue Streams24:25 Challenges and Opportunities in Vending33:34 Innovative Vending Solutions37:12 Future of Vending and Micro Markets37:44 Rapid Fire Questions and Insights
MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I sit down with Trenton Hughes and Chris Munn for a jam-packed episode where we cover everything an entrepreneur needs to know right now.We kick things off by debating which AI tools are worth paying for, from ChatGPT and Claude to Grok, and discuss how AI might soon replace your doctor.Then, we dive into the new "big beautiful bill" and what its tax changes mean for you. I'll share why the accelerated depreciation clause is a "massive boon" for entrepreneurs and how you can leverage it by investing in real estate like car washes or storage facilities to potentially pay zero in taxes.We also break down the confusing new rules on tips and overtime and why we think tipping should be abolished altogether. Finally, we explore why smart salespeople are ditching Zoom for in-person meetings to close bigger deals.Questions This Episode Answers1. Which AI tools are essential for business owners today?2. How can entrepreneurs use accelerated depreciation to save big on taxes?3. Will the new tax bill really eliminate taxes on tips and overtime?4. Why are successful salespeople returning to in-person meetings?5. Is it a good time for business owners to invest in real estate?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 Exploring AI Services and Their Impact10:19 Navigating the Big Beautiful Bill and Real Estate Investment22:51 Understanding Tax Deductions on Overtime29:05 The Complexity of Overtime Tax Deductions35:35 The Shift Back to In-Person Sales39:49 The Return of Business Travel44:24 Growing the Podcast Audience
Join me, Nik (https://x.com/CoFoundersNik), as I interview Brad Smith (https://x.com/bradsmithcoach).In this episode, I talk with Brad Smith, the co-founder of Automation Links, a business that helps other companies automate their marketing. Brad's company is doing an incredible $100k a month with 80% margins, and he shares the secrets behind his high-margin business model.He explains the power of being omnipresent and why a customer needs to see you 24 times on four different channels before they trust you.The most mind-blowing part? We dive deep into a marketing strategy involving pixels. Brad breaks down how these small pieces of code can track visitors to your website and social media posts, allowing you to retarget them with ads for a fraction of the cost. It's a secret weapon for scaling your business!Questions This Episode Answers:• How can pixels help you track and retarget customers for a quarter of the cost?• What is the "one action item" every business owner should do today, even if they aren't ready for ads?• Why does staying small and profitable lead to a better quality of life than chasing massive top-line revenue?• How can you get your ad to the top of Google Maps searches with zero competition?• What is a simple "themed day" system for creating a consistent social media content calendar?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 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/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I interview Nick (https://x.com/mattressguy_). We dive deep into the surprisingly complex world of the mattress business. Nick, owner of Direct Outlet Mattress and part of a family with stores across North Carolina, shares his unique insights.We discuss everything from the less glamorous side of old mattresses to the economics of running a mattress store, even comparing his approach to giants like Mattress Firm. You'll be fascinated to hear how he's leveraging Twitter to build a successful brand and reach customers in unexpected ways.Questions This Episode Answers:How do these businesses (Mattress Firm) make money?What other overhead expenses would you have besides lease? How do you acquire customers for your mattress store?What is your approximate customer acquisition cost?How much does it typically cost to start a mattress business?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 The Mattress Business Journey03:05 Family Dynamics in Business05:56 Understanding the Mattress Market08:51 Customer Acquisition Strategies11:47 Expanding Product Offerings15:05 The Importance of Quality17:58 Navigating Business Challenges20:55 Building a Brand on Social Media23:51 Future Plans and Online Expansion
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