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
37 - How a Side Hustle Became a $50K/Month Business with James Lincoln
Join me, Nik ( https://x.com/CoFoundersNik ), as I talk with James Lincoln (https://x.com/_jameslincoln ) the 27-year-old founder of Goodly Growth, a digital marketing agency. James discusses his entrepreneurial journey from working in software portfolio management to running a successful digital marketing agency generating $50K a month. He shares insights on overcoming challenges, the importance of SEO for local businesses, customer acquisition strategies, and the constant entrepreneurial fear of business failure.
James also talks about his balance of work, personal life, and future aspirations, including his interest in buying businesses and launching professional-quality online courses. The episode provides valuable lessons on business growth, customer retention, and the personal drive needed to succeed in the entrepreneurial world.
Questions this Episode Answers:
How did James scale his digital marketing agency to $50K monthly revenue?
What strategies can be used for acquiring customers through cold calling?
How to leverage an MBA program to launch and grow a business?
How to transition from a full-time job to running a business full-time?
How does effective email marketing compare to cold calling for lead generation?
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This week we covered:
01:01 Introducing James Lincoln
02:22 James' Business Journey
03:39 Launching Goodly Growth
12:10 SEO Strategies and Services
15:44 Customer Acquisition and Economics
20:05 SEO Challenges and Customer Management
21:26 Importance of Google Business Profiles
22:35 Customer Education and Success
23:46 Sponsorship and Giveaway Announcement
24:28 Financial Metrics and Business Growth
27:23 Revenue Goals and Future Plans
28:39 Entrepreneurial Mindset and Resilience
30:27 Online Education and Course Development
38:51 Rapid Fire Questions and Reflections
41:53 Conclusion and Final Thoughts
