5 minute read Owner-owned and operated service businesses can be a great source of profits. I’ve already gone over the reasons why your first business should be a service business. But just because you launch a service business doesn’t mean that it will generate outsized amounts of cash, let alone be profitable. I […]
Entrepreneurship
8 posts
5 minute read Beyond wealth creation there’s another reason why you should consider launching a service business before investing your time into anything else: they’re great idea-generating machines. This concept was brought up by numerous individuals in one of my popular Tweetstorms, which inspired me to share how I used my PPC agency […]
4 minute read Movies like The Social Network and TV shows like Shark Tank have entrepreneurs convinced they need to start the next big thing. Everyone wants to chase that sexy new idea that’s going to scale up to infinite. But did you know that famous Shark Tank investor Chris Sacca’s first real […]
4 minute read The Koch Brothers are in no shortage of controversy. Over the years, they’ve become political boogeymen which has vastly overshadowed their business careers. But politics aside, no one can deny that they’ve built an incredible multi-generational business. Koch Industries generates over $110bn revenue, employs over 120,000 people, and is the […]
4 minute read Phil Knight, the founder of Nike, had $0 sales and his company was just him and his running coach when he met with Onitsuka Co. in Japan. Yet, he was able to persuade them to give him exclusive distribution rights to sell Tiger shoes in the US. The supply chain […]
5 minute read Recently, the financial statements of Gymshark, a £177m/year eCommerce business, were made public by Sam Parr. There are so many things that impressed me about their financials, but what stood out the most was their £53m ($67m USD) cash balance. This cash position, of nearly 4x their 2019 after-tax profits, […]
7 minute read Almost all businesses go through periods of distress where cash becomes very tight. In any distressed situation, cash becomes your business’s lifeline. There are conventional methods of getting cash into your company, like issuing equity or taking on bank debt. However, for many businesses, these traditional methods may not be […]
7 minute read Cold calling has gotten a bad rap over the years. Movies like Boiler Room and Wolf of Wall Street have made cold calling look slimy. But the reality is, as an entrepreneur, cold calling might be one of the best things you could do early in your career. It’s the […]