63 - The Glassdoor of Home Renovations: Business Model Explained + 3 More Ideas with Chris Koerner

Nikonomics - The Economics of Small Business

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Join me, Nik (https://x.com/CoFoundersNik), as I introduce something new on Nikonomics. My best friend and business partner, Chris (http://tkopod.co/p-x), and I have a discussion every Friday called HoldCo Bros, originally released only on his podcast, we brainstorm ideas and go completely off the wall. It’s basically the same conversations we’ve been having for the last 20 years - random, sometimes inappropriate, but always packed with actionable advice.

In this episode, we talk about pricing, transparency, and lead generation. We explore the idea of a car negotiation as a service and how to leverage virtual assistants to secure the best car deals. We also discuss creating products for business owners and how to find and capitalize on distressed business opportunities. Additionally, we discuss the custom home building industry, and Chris shares his advice based on his own experience.
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Love it or hate it, I'd love your feedback.
Please fill out this brief survey with your opinion or send me an email at [e-mail] with your thoughts.
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Chris's YouTube: http://tkopod.co/p-yt

Chris's Podcast: http://tkopod.co/p-all
Questions this Episode Answers:

• What strategies can help you capitalize on distressed business opportunities?
• How can pricing and transparency improve your business?
• What makes the custom home building industry unique?
• How do you generate and sell high-ticket leads for home services?
• What are the best ways to create products that solve real problems for business owners?

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This week we covered:
00:00 Highlights
00:20 Introduction and Recap
01:14 The Cost Transparency Idea
04:20 Implementing the Idea with VAs
06:19 Expanding the Concept to Other Industries
09:01 The Car Buying Experience
14:51 Scamming the Scammers
15:41 AI in Business
26:52 The Art of Prompt Engineering
27:52 Prompt Hacks and Real-Life Examples
28:52 Contextualizing AI Prompts
30:02 Funny Anecdotes and AI Evolution
31:19 Silicon Valley Business Ideas
34:46 E-commerce Success Story
36:32 Buying Distressed Businesses
41:34 Creative Marketing Strategies
47:17 Conclusion and Final Thoughts