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
45 - From $20K to $4.7M Profit with Short-Term Rentals in Under 3 Years with Chris Koerner & Isaac French
Join me, Nik ( https://x.com/CoFoundersNik ), and my business partner Chris Koerner ( https://x.com/mhp_guy ) as we talk with Isaac French ( https://x.com/isaacfrench_ ), who built Live Oak Lake, a unique micro-destination. In this episode, we discuss how Isaac turned a $2.3 million investment into a $7 million exit, why storytelling is crucial for any business, and how he generated $40,000 in bookings with a $900 social media budget. We also cover the challenges he faced, like being banned from Airbnb, and how he overcame them to create something truly special.
Sign up to Isaac's newsletter here - (https://www.isaacjfrench.com/newsletter)
Questions this Episode Answers:
How can you turn a $20K investment into a multimillion-dollar profit with short-term rentals?
What are the essential steps to creating a unique and successful rental property?
How can storytelling enhance your business and attract more customers?
What strategies can help generate significant bookings on a small marketing budget?
How do you navigate major setbacks, like being banned from a key platform, and still achieve success?
___________________________
Leave us a review on Apple Podcasts or Spotify and you could WIN $100!!
Screenshot it, send it to us, and you will be automatically entered to WIN $100!
Spotify: https://tinyurl.com/5avyu98y
Apple: https://tinyurl.com/bdxbr284
Every week I will pick a random listener who left a review to GET PAID!
___________________________
YouTube: https://tinyurl.com/nikonomicsYT
___________________________
In this episode we covered:
00:56 Welcome to Nickonomics
03:34 Meet Isaac French
05:20 The Birth of Live Oak Lake
11:35 Overcoming Challenges and Achieving Success
19:58 Building a Community and Unique Experience
34:06 The Influence of Upbringing on Entrepreneurship
34:44 The Role of Technology and Creativity in Childhood
36:34 Parental Wisdom and Character Development
39:23 Philosophical Insights on Moderation
40:30 Exploring New Business Opportunities
41:56 The Importance of Storytelling in Business
42:55 Challenges in Direct Bookings for Unique Stays
50:01 Innovative Ideas for Social Media and Hospitality
55:51 Rapid Fire Questions and Final Thoughts
