Nikonomics - The Economics of Small Business

Meet Odetta, a young entrepreneur contemplating between launching her own agency or joining a startup. Patrick seeks guidance on purchasing a business while James explores acquiring another company. The podcast also delves into AI technology for small businesses and macroeconomic issues affecting the sector.

Body brokering expert and entrepreneur, Chris Koerner, joins the host to discuss balancing entrepreneurship with a job, scaling multiple franchises, high advertising costs on Google, and identifying the right business opportunity. The session offers insights on competitive advantages, time management, addiction treatment marketing, and the dark side of the rehab industry.

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Every Thursday, I host live consulting sessions where I offer free advice to listeners. It's an engaging and enjoyable experience. Here's what we discussed in this session:___________________________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 Nik@cofounders.com with your thoughts.___________________________00:08 - Former pro baseball player turned entrepreneur discusses his transition from sports to running a street sweeping business and the challenges of implementing efficient systems for growth.11:17 - Navigating First-Time Business Acquisitions: Building Confidence and Relationships with Sellers and Brokers21:32 - Transitioning from Real Estate Syndication to Adjacent Businesses42:32 -  Finding the Right Business: Navigating Opportunities and Priorities59:38 - Scaling a Business: Balancing Complexity and Priorities

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨___________________________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 Nik@cofounders.com with your thoughts.___________________________Every Thursday, I host live consulting sessions where I offer free advice to listeners. It's an engaging and enjoyable experience. Here's what we discussed in this session:04:37 - When is buying a restaurant07:35 - How can I bypass the collateral requirements for real estate in SBA 7(a) loans, especially since I own my home and am unwilling to use it as collateral?10:37 - Considering acquiring a laundromat in Ventura, California, and wants to know if it's a good decision based on his expertise, risk tolerance, and financial situation. He seeks advice on evaluating the opportunity beyond financial metrics, choosing the right investment size, and understanding its impact on his career and lifestyle.29:37 -  How do you forecast opening a second location in your business? And what's a cost that most business owners forget?37:33 - With access to money and free time in Dallas, Texas, where should I begin if I want to start a retail olive oil shop in a popular neighborhood? My main worry is the high cost of rent.40:33 - How can I convince brokers to take me seriously as a first-time buyer despite lacking an acquisition history, knowing that many first-time buyers may not follow through on deals?50:36 - How do we fairly value a buyout in a 50/50 business partnership where one partner is now fully committed while the other has other ventures? Considering a 75/25 split, is leaving 25 percent equity fair?56:09 - How do we transition our independent mechanic, who does good work but struggles on the business side, into a hired employee for our heavy equipment business, considering his requested salary and lack of licensing or insurance?

Topics discussed include target industries and geographic focus in business acquisition, scaling strategies for service-based companies, navigating business ventures and financing options, exploring industry options between professional services and manufacturing, franchise opportunities, business transition plans, and the journey of taking over and scaling a struggling company.