TMBA 513: How To Get Rich Without Getting Lucky

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A few weeks ago, Dan and Ian invited Nick Huber on to the show to talk about his storage business Storage Squad.

During that conversation, Nick shared the story of how he built a successful “old school” business by applying his technical knowledge to a less competitive market in physical services.

After we stopped recording, the “off mic” discussion took an interesting turn when Nick started opening up about his philosophy for building labor-intensive businesses that he likes to call “Sweaty Startups”.

On today’s podcast, we’ve invited Nick back to share some of those philosophies, with a focus on the types of models that he is attracted to, as well as businesses “he hates”.

Transcript

Listen to this week’s show and learn:

  • Why Nick believes there is a huge opportunity for entrepreneurs in “Sweaty Startups”. (3:55)
  • How there can be a lot less risk in competing in these types of businesses. (14:59)
  • The kinds of businesses Nick hates. (22:18)
  • Which types of businesses Nick thinks are great opportunities. (31:55)
  • Some ideas for utilizing technology to scale sweaty startups. (43:20)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is sponsored by SmashDigital.comLongtime listeners will be familiar with Travis Jamison’s companies Supremacy SEO and SaaSicorn. They have rebranded as Smash Digital, with the same incredible SEO insights and results. What they offer is simple yet essential: fully managed SEO services, link building, and audits. It’s how they deliver it that is unique. Get a fresh view on the potential your business has to reach a sustainable source of customers from organic SEO traffic by reaching out to the team at Smash. Smash Digital is offering a free SEO site review for the listeners of the Tropical MBA Podcast. Head over to SmashDigital.com/TMBA today and fill out the form to get your free SEO audit. Big thanks to the team at Smash Digital for sponsoring the show.

 

Deal of the Week:

We’ve extended last week’s Dynamite Deal for an extra week. This one comes to us courtesy of Destination Legal.

It seems that so many of us procrastinate on registering trademarks and protecting our businesses. Dealing with legal services can be a pain in the butt, especially when you’re paying by the hour for someone who isn’t experienced in the unique challenges internet-based businesses face. We’ve pulled together an incredible discount and all-inclusive flat rate on a full-service trademark registration service, as well as legal documentation bundles for your business (prepared by an attorney that knows the online world and terms, policies, and contracts that are specific to your industry). Today’s deal even includes USPTO filing fees (over $200 bucks!). Thanks to all the interest from you deal seekers, we’ve secured this trademark filing service at a nearly $1,000 discount! Head on over to DynamiteDeals.co to take advantage of this Dynamite Deal.

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In 2015, Dan Andrews and Ian Schoen sold their business for multi-seven figures, and although they don’t regret selling – there are many mistakes they made that were avoidable.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

Published on 10.03.19

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