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
52 - How Frustration Led to a $400K/Month Call Center Business with Donald Spann
Join me, Nik ( https://x.com/CoFoundersNik ), as I talk with Donald Spann ( https://x.com/DTSpann ), a seasoned entrepreneur managing 14 different companies. In this episode, we explore how Donald turned a frustration with his cleaning service into a $5 million, 150-employee business with 1300 clients. We dive deep into the profitability of the virtual receptionist industry, why focusing on inbound calls can be more lucrative than chasing new leads, and how to identify and capitalize on hidden opportunities within your business.
Questions this Episode Answers:
- How did Donald Spann turn a frustration with his cleaning service into a $5 million business?
- What makes the virtual receptionist industry so profitable?
- Why should businesses focus on inbound calls instead of just generating new leads?
- How can entrepreneurs identify hidden opportunities within their existing businesses?
- What are the key metrics that drive success in the call center industry?
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This week we covered:
02:01 Meet Donald Spann
02:11 The Call Center Journey Begins
06:11 Exploring the Virtual Receptionist Industry
16:53 Economics of Call Centers
23:22 International Talent and Call Center Software
24:40 Key Metrics for Call Center Performance
29:40 Industry Insights and Profit Margins
30:35 Customer Acquisition Strategies
37:24 The Role of AI in Call Centers
39:04 Rapid Fire Questions and Personal Insights
44:08 Conclusion and Final Thoughts
