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Have you ever thought about buying a business? If so, today’s episode is for YOU! Walker Deibel -- author of the best-selling “Buy Then Build” -- is here to talk about buying businesses. Not only was Walker’s book recognized as one of the top 7 books all entrepreneurs must read, but it’s currently being used in university MBA programs around the country. In this episode, Walker walks us through why buying a business is better than building one from scratch (did you know that only 4% of companies ever exceed $1M in revenue?), why now is the perfect time to be looking for the right business to purchase and what type of businesses we should be considering buying. We then jump into the process of buying a business, how to ensure that you’re adequately represented on your side of the deal, and what you should be doing TODAY to make progress towards buying your first -- or next -- business. Make sure you listen to the end where Walker tells us the biggest mistake he sees entrepreneurs making, and the most important thing you should be doing the day you close on the purchase of your new business. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
What does it take to start, scale, and sell your own business? Every Tuesday, J and Carol Scott ask this question to entrepreneurs of all stripes and delve into stories that go beyond the launch. From hiring and firing to marketing and raising capital, this podcast takes an honest look at the triumphs and stumbles of entrepreneurship. Whether you’re looking to sustain a startup or bring an idea to life, you’ll come away inspired. Tune in—and learn how to treat your business like a business.
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Have you ever thought about starting a BIG business? Ever wondered what the first steps were to raising tens of millions of dollars? Do you unintentionally impose limitations on what you think you c an accomplish? Have you ever thought, “If I just had more money, I could take my idea to the next level!”? If so, this episode is for you! Jay Reno, founder of Feather, has thought BIG from the start. His entrepreneurial journey began with an idea a bit ahead of its time. When that venture didn’t work out so well, he took the lessons he learned to bootstrap a whole new concept. Living in New York City and identifying with the trend of a new generation of people defining success through life experiences rather than being tied down to meaningless material possessions, Jay recognized an opportunity to put his degree in Climate & Environmental Sciences to work. With just a few thousand dollars and a ton of hard work and diligence, Jay quickly achieved proof of concept for Feather, a furniture rental company providing a flexible and sustainable alternative to ownership. In this episode, Jay tells us about his amazing experience at Y Combinator, an incubator program where other leading companies like DoorDash, AirBNB, and Dropbox also got their start. He offers insight on the pros and cons of raising money vs. bootstrapping your way to success. (Yes, there actually IS heartache involved, even when investors have pumped 70 MILLION DOLLARS into your company.) And he provides awesome examples of taking risks, making bets, and positioning yourself to be lucky when the time is right. Make sure you pay attention to Jay’s reminders about the common excuses potential entrepreneurs make that hold them back, to make sure you overcome and avoid standing in your own way of greatness. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Are you looking for some motivation on how to make money during this pandemic? If so, this episode is for you! John Berlingieri -- serial entrepreneur and creator of The Sanitizing Station -- te lls us about how he was able to go from idea to getting sales in two months on a $20,000 product aimed at helping to protect people from Covid infection. And how he was able to overcome all the complexities of doing so during the pandemic, while supply chains were shut down and in-person workers were scarce. In this episode, John provides tons of great tips on everything from naming your business and products to getting publicity for your business to “faking it until you make it” when working on BIG ideas. John also discusses how to design, prototype and build FAST when getting to market quickly is the one of the most important aspects of success. Make sure you listen for John’s amazing tip on what you should be reading to find lucrative business ideas, to keep up on business trends and to ensure that you beat your competition to market. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Do you think you’re too inexperienced to start a business? Do you think you don’t have the required education to be an entrepreneur? Do you think you don’t have the marketing chops to create a success ful venture? Do you think you don’t have enough money to launch a million-dollar idea? If so, this is the episode for you… Sean Pour—founder of SellMax.com, a national used-car buying service—tells us about how he started his business at 14 years old, in attempt to help his parents keep their business afloat. What started out as an effort to help his family has, over the past 10 years, turned into a big business. Sean buys and sells thousands of cars per month all across the United States. In this episode, Sean talks about getting started even before he had a high school education, how he taught himself the coding and marketing skills necessary to get the business off the ground, and how he was able to bootstrap the company without any capital. He also discusses how to build your network and find a great mentor without spending any money... and even potentially MAKING money in the process! Listen for Sean’s amazing explanation about why too much education can actually hamper your likelihood for massive success and why those without a formal education often achieve much more. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Do you long for the day you can leave your full-time job working for someone else? Ever think to yourself, “What if I take all this time and energy to build something for myself?!” Or are you exhauste d just thinking about building a brand from scratch, starting at the bottom of the ladder and working your way up all over again? If so, this is the episode for you… Erik Cabral -- founder of creative agency On Air Brands and the entrepreneur experience PodMAX -- tells us all about his “a-ha moment” that led him to leave a stable, high-paying corporate career to begin his entrepreneurial adventure. He walks us through the early days reaching out to literally everyone he knew to get invited to networking events; and his journey to “the front of the room” as an influencer and revered expert in brand building. By adding value helping like-minded people build their own unique brands, he now has global reach working with clients to enhance their marketing, online presence, podcasts, and live streaming strategies. In this episode, Erik talks about the importance of putting your ego aside, remaining consistent, and simply showing up to gain traction. He reminds us that the relationships we nurture through networking are front and center in any business. And he teaches his key principles in building a powerful brand, which he calls “The 4C’s” : Clarity, Community, Connection, and Collaboration. Make sure you listen to the end, where Erik shares a great personal story that went viral around the globe. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Do you feel like you don’t have the knowledge and experience to start your own business? Perhaps you're looking for a way to leverage your full-time job to find the right business opportunity? Or mayb e you’re looking for ideas on how to create a grassroots marketing and branding effort without a lot of out-of-pocket costs? If so, this is the episode for you… Lance Korhorn—full-time firefighter and entrepreneur—walks us through how he was able to start Ladder 34, a business focused on recycling old fire hoses that were destined for the dump. Not only was he able to save tons of waste from the landfill, but he has recycled that “trash” into financial and philanthropic treasure. In this episode, Lance talks about how every fire hose is a story and how he has been able to build a business around preserving those stories—turning old hoses into belts, wallets, mats, and other items that delight customers and carry on the legacy of the lifesaving equipment. And not only is this a business supporting Lance and his family, but it's also supporting firehouses and firefighters around the country who are putting their lives on the line every day. Lance tells us how he came up with the idea for the business, how he struggled to create his first prototypes, and how he’s had to learn how to start, build, and grow a business every step of the way through trial and error. Make sure you listen to the end, where Lance reveals the power of storytelling, and how it’s helped grow Ladder $34 million-dollar business. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Are you looking to build a business around something you love and are passionate about? Do you want to ensure that the business you’re working on has massive profit potential? Are you concerned that y ou don’t know how to do both of these things simultaneously? Today’s guest tells us how he was able to blend his passion with massive profits... and how we can, as well! Alex French—co-founder of Bizzy Coffee, the most popular cold-brew coffee brand sold through Amazon and retailers—knows firsthand how important it is to do something you love while also ensuring that there is market demand for your business. On this episode, he teaches us how we can identify which of our passions can be scaled into a profitable enterprise and how to validate our ideas quickly and inexpensively using Google. Alex also tells us how we can use influencers to get feedback on our business ideas and how they can spread the word to potential customers, too. Finally, he walks us through the basics of selling on Amazon, including how to use the platform to dominate in your product category. Make sure you listen for Alex’s powerful tip—one that cost his investors over $1M to learn—on what to do when you find your business veering off-course. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Have you ever thought about creating a brick-and-mortar retail operation from scratch? Ever wonder what hoops you have to jump through to get a liquor license and launch a business selling alcohol? Ev er wonder how to do consumer research before opening a local store? Ashley Kehr—real estate investor, entrepreneur, and co-host of BiggerPockets' Real Estate Rookie Podcast—is in the process of building and launching a local liquor store, and she shares with us her step-by-step plan. In this episode, Ashley tells us how she found and hired an expert consultant, how she applied for and got a state liquor license, and how she was able to purchase the real estate and design it for her business. And she did it with a whole lot less cash than you might expect! Ashley provides a ton of great tips for any budding entrepreneurs looking to take that next step toward creating their own business. She talks about the value of networking, asking the right people the right questions, and the biggest roadblock that many of us need to overcome to get started. And make sure you listen for Ashley’s amazing tips on how to advertise your local business, as well. Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
On today's show, learn how to identify a personal passion and/or need, combine it with your professional skillset, and launch a business that energizes you and your community. Tammeca Rochester sit s down with J and Carol to reveal the story behind Harlem's first and only indoor cycling studio, Harlem Cycle. From the genesis of her idea, to hiring contractors and renting space, to her pricing strategy focused on "packages and commitments," Tammeca shares a ton of great tips for anyone looking to bootstrap any type of business today. Download this one, and be sure to subscribe to the BiggerPockets Business Podcast so you won't miss us next week! ... show more
Have you ever thought about taking over an existing business? Would you like to purchase a business with no money out of your pocket? Have you ever considered what it would take to expand a local busi ness nationally? All these questions—and more—are answered on this week’s podcast. Ryan Novak, owner of ChocolatePizza.com, graduated college and then went back to buy the small, local chocolate shop that he had worked in since he was 14 years old. He negotiated a no-money-down deal that left him as the sole owner of the shop—and an opportunity to grow the brand nationally. Using the power of the internet, Ryan has grown ChocolatePizza.com to a seven-figure company, shipping chocolate treats and gifts all around the United States. And at the same time, he has grown that local shop into a successful business in and of itself. On this episode, Ryan talks about how he acquired Chocolate Pizza, how he used what he learned in business school to grow and expand with over a dozen employees, and how he is now using the circumstances of the coronavirus pandemic to extend his brand even further. He tells us how he’s evolved his product offering to surprise and delight his customers and get people talking about the company to expand his reach. In addition, Ryan tells us how he’s giving back to his community. And specifically how he is using a local mentorship program he’s created to build a win/win for his business—hiring local high-school students to train them in business, while at the same time getting the benefit of low-cost employees, who are excited to learn and work. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
What differentiates good businesses from great businesses? What is that thing that keeps your customers coming back time after time? How do you ensure that your product or service really stands out fr om your competitors? More times than not, it’s providing an amazing customer experience. In fact, today’s guest has built his eight-figure business on this principle alone. And he tells us how we can do the same in our business. Josh McCallen—entrepreneur, investor, and business owner—has built his reputation as a luxury resort developer. Over the past decade, he and his investment team have bought, renovated, and turned around several high-end resorts. His key to success is always the same: implementing a customer experience that is second to none. On this episode, Josh tells us how he got started in both business and real estate, as well as when he first recognized the value—and necessity—of defining a world-class experience brand for his resorts. He also shares the three core values that rule over the experience he creates, how he implements those values in his business, and how you can do the same in yours. And make sure you listen through the "Four More" segment at the end to learn about the biggest mistake Josh made (and many people make) when buying a business and how it led him to failure in his first business purchase. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
We've all heard the adage about the importance of multiple streams of income. Today's guest takes that idea to a whole new level... From patents to books to real estate to businesses to licensing r oyalties, Tim Shiner is truly an investing and business Renaissance Man. And his most recent project is his biggest yet! On this episode, Tim tells us about how—as a "professional opportunist"—he has created dozens of income streams, how he manages his time to juggle all these projects, and most importantly, how you can start identifying opportunities in your life to do the same. Then we delve into Tim's latest project: He has purchased the exclusive rights to license dozens of products related to the "Tiger King" and Joe Exotic brands, sensationalized by the Netflix mini-series over the past several months. Tim tells us about how he hooked up with Joe Exotic's lawyers to negotiate the deal and how he's working with some of the biggest marketing companies in the world to monetize it. Make sure you listen to Tim's story about how he acquired the largest bus in the world, wrapped it in a controversial design, and drove it from Texas to Washington, D.C., to promote the brand! Are you looking for some inspiration for tackling big projects that might be a little bit out of your comfort zone? If so, this episode is for you! Check it out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
If you've found this show, you probably have that entrepreneurial itch... and you've probably wrestled with just how to turn that impulse into action. Well, that transition is exactly what today's show is about... so don't miss it. Our guest Dave Menz shares his journey from poverty, to a corporate career, to taking the plunge into business and turning a struggling laundromat into a cash-flowing asset producing generational wealth (then scaling up). And Dave pulled this off with no formal business training! As he says in the episode, "If you want to see me accomplish something, tell me I can't do it." Tell us what you think in a rating or review on Apple Podcasts (it takes just 30 seconds), and subscribe to the BiggerPockets Business Podcast in your favorite podcast app so you won't miss the next one. ... show more
Are you looking for ways to increase your profitability while spending less on marketing and customer acquisition? Are you running a business where differentiating yourself from the competition is dow nright difficult? Do you feel like the only way to build your brand and business is to spend ridiculous sums of money on marketing and advertising? If so, this episode is for you! Ryan Welch—of Breezy Moving—is not a professional marketer or advertising guru. But he has used his expertise in creating relationships and focusing on his customers' needs (and their customers' needs) to generate more business than he can handle in the ultra-competitive moving industry. And he's done it all without spending a penny on marketing or advertising! Ryan shares his business secrets—including a deep dive into the financials and tips to become more competitive without spending a fortune on marketing. He tells us how he researches competitors and prices his services for maximum profit. He goes on to explain that no matter what your business is, expanding and fostering relationships is going to be one of the best ways to lower your customer acquisition costs, expand your customer reach, and grow your margins and bottom line. And make sure you listen to Ryan’s thoughts on how to hire and manage employees in an industry where there is a lot of turnover, as well as where first impressions matter most. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Have you figured out a good business model that is consistently making money but don’t know how to expand? Itching to take your local business national? Ready to put your business on auto-pilot, gener ating recurring income while others do the work? If so, this episode is for you! Brennan Tolman and Nik Krohn—founders of Tolman Media—were in that same boat just a couple years ago. They had grown their local wedding photography business in Salt Lake City and were ready to expand. But they quickly decided that owning locations around the country or franchising the business wasn’t for them—too much work, too much red tape. So, they figured out an even better plan, creating an online marketplace and licensing the business to dozens of other entrepreneurs. On this episode, Brennan and Nik walk us through the process they used to scale their business and then license it all around the country—and around the world. The two were able to generate over $4M in revenue in just six months by letting others do the bulk of the work—while they simply collected the royalties. Whether you’ve already explored the idea of licensing your product or business, or you’re looking for a new tool to add to your business toolbag, Brennan and Nik walk you step by step through the process of taking your business to the next level. And making LOTS of money in the process! Make sure you stick around to the end, where Brennan and Nik tell us the single most important metric to the success of your business. Check them out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Are you overwhelmed with all the things you’re falling behind on in your business? Not sure what to do next? Have you been taught to believe that as business owners, we need to tackle all of our busin ess issues at once? Well, it doesn’t have to be that way! Michael Michalowicz—author six books, including the newly released Fix This Next—knows firsthand what it’s like to struggle with too much to do and not enough time to do it. And on this episode, he teaches how we can evaluate and prioritize the issues in our business—and also how to FIX THEM! Mike starts with an overview of why identifying the biggest obstacles in your business is important and why so many entrepreneurs make the mistake of trying to solve too many issues at once. From there, he reveals the business hierarchy of needs—the five parts of our business that we must in order to truly put our business on autopilot and create a legacy that can be handed down. Then, he tells us how to identify the biggest obstacle in our business, and the methodology of how we can solve that problem before moving on to the next. The formula is simple, even if it’s not obvious. But Mike breaks it down step by step so that even the most frantic among us will be able to use it to get our business under control and relieve our daily headaches. He helps us realize that the biggest challenge that most of us face as entrepreneurs is figuring out what our biggest challenge is—and then helps us do that! And make sure you listen for Mike’s explanation of “the double helix” while helping business owner Carol solve the biggest business challenge she’s facing today. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
Not happy in your current career? Looking to do something entrepreneurial but don’t know where to start? Well, maybe this is the inspiration you need to build something HUGE! Laura Spaulding is a f ormer police officer who was ready to forge her own future. Using the experience, knowledge, and insight she got working undercover, she decided to start her own business focused on cleaning up crime scenes, meth houses, and a host of other environmental hazards that many of us don’t have the stomach for. Laura walks us through how she decided on her business path, how she financed it, and how she came to realize that the real opportunity was in expanding it through franchising. But it hasn’t all been rainbows and teddy bears—franchising created a whole host of challenges that Laura had to tackle in order to continue to grow and expand her business. And grow her business she's done! Entrepreneur Magazine recently ranked Laura's company as one of the top 10 new franchises, and Spaulding Decon has been at the forefront of the coronavirus cleanup across the U.S. over the past six weeks. If you’ve ever thought about creating your own franchise system from the ground up, this is the episode for you. Laura tells us how it’s done, how NOT to do it, how much to expect to pay, and all the good and bad that come with expanding your business nationwide. If you have a strong stomach, make sure you listen to the end, when Laura tells us some of her favorite crime scene cleanup stories... Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! ... show more
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