Nikonomics - The Economics of Small Business
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 @CoFoundersNik
Nikonomics - The Economics of Small Business
32 - Building a 7 Figure Hospitality Biz Working 10 Hours a Week with Rashmi Bhat
In this episode, Rashmi (https://x.com/ChaiAndCabin) shares her incredible journey from starting her first business at 21 with just $20,000 to building a hospitality empire.
Listeners will gain insights into how she successfully manages a diverse portfolio including restaurants, short-term rentals, and hotels, all while working less than 10 hours a week. Her story is a testament to the power of resilience, strategic planning, and leveraging community support.
Rashmi delves into the specifics of how she turned a small sandwich shop into a thriving B2B wholesale business and later expanded into the hospitality sector.
She discusses her unique approach to systematizing business operations to achieve high net margins, emphasizing the importance of effective management and automation. This conversation offers valuable lessons for anyone looking to scale their business efficiently and profitably.
Additionally, Rashmi's experiences as an immigrant navigating the American business landscape provide a compelling narrative of determination and adaptability. She highlights the importance of taking calculated risks and the rewards of betting on oneself. Listeners will leave inspired by her story and equipped with practical strategies to apply in their entrepreneurial endeavors.
01:39 Rashmi's Journey: From Sandwich Shop to Real Estate
04:38 Overcoming Challenges as an Immigrant Entrepreneur
10:32 Expanding the Business Portfolio
12:47 Navigating the COVID-19 Pandemic
14:41 The Power of Community and Support
19:59 Exploring Business Passions
20:34 Principles for Business Success
20:53 High Cash Flow Strategies
22:03 Hospitality Management Insights
23:58 Customer Acquisition Tactics
27:33 Starting in Short Term Rentals
31:06 Challenges and Growth
34:16 Rapid Fire Questions
36:49 Conclusion and Final Thoughts
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