My First Million

#107 with Chris Bakke - This Serial Entrepreneur is an Idea Machine

5 snips
Sep 4, 2020
In this engaging discussion, Chris Bakke, a serial entrepreneur and early employee at Rent Juice, shares his wealth of experience in the startup world. He discusses his innovative idea of 'Shopify for SaaS products' and explores the potential of franchising services like GeekSquad. Together with Shaan Puri, they dive into lucrative opportunities in home-based education and the powerful concept of giving small businesses what big corporations already have. Chris also pitches his new venture aimed at replacing traditional consultants with software solutions.
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ANECDOTE

Asynchronous Golf Instruction

  • Chris's co-founder uses an asynchronous golf instruction service, uploading swing videos for remote feedback.
  • This service offers personalized instruction at a lower cost and with greater flexibility than traditional lessons.
INSIGHT

Asset-Light Franchises

  • Franchises offer a balanced entrepreneurial path, but most are asset-heavy.
  • Asset-light franchise models, like a franchised Geek Squad, are better suited for today's remote work environment.
ANECDOTE

Successful IT Support Side Hustles

  • Shaan Puri shares anecdotes of friends who successfully ran IT support side hustles, similar to Geek Squad.
  • One friend even franchised his business, demonstrating the model's potential.
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