235 - How Mattress Firms Make Money Despite Empty Stores with Nick Hancock

MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I interview Nick (https://x.com/mattressguy_). We dive deep into the surprisingly complex world of the mattress business. Nick, owner of Direct Outlet Mattress and part of a family with stores across North Carolina, shares his unique insights.We discuss everything from the less glamorous side of old mattresses to the economics of running a mattress store, even comparing his approach to giants like Mattress Firm. You'll be fascinated to hear how he's leveraging Twitter to build a successful brand and reach customers in unexpected ways.Questions This Episode Answers:How do these businesses (Mattress Firm) make money?What other overhead expenses would you have besides lease? How do you acquire customers for your mattress store?What is your approximate customer acquisition cost?How much does it typically cost to start a mattress business?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 The Mattress Business Journey03:05 Family Dynamics in Business05:56 Understanding the Mattress Market08:51 Customer Acquisition Strategies11:47 Expanding Product Offerings15:05 The Importance of Quality17:58 Navigating Business Challenges20:55 Building a Brand on Social Media23:51 Future Plans and Online Expansion

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Justin Moore (https://x.com/justinmooretfam). Justin Moore is a legit master marketer, content creator, and the author of Sponsor Magnet, who has personally closed over $5 million in brand partnership deals and built a $600,000 coaching business teaching others how to get sponsorships and secure major brand deals. We track his journey from working in medical devices and corporate influencer marketing to pivoting alongside his wife April's early YouTube monetization side hustle, which eventually gave them time freedom and entrepreneurship success.This episode is essential for any entrepreneur looking to make money content creator style, even if you hate the word "creator." We discuss why your personal brand and organic distribution are the last moat in the age of AI for first million dollar business owners. Justin breaks down his powerful R.O.P.E. method—a four-step sales formula and sponsorship email template system that can be applied to business outreach for any company, not just content creator sponsorships.Plus, I put Justin's creator monetization systems to the test: he walks me through exactly how to get your first sponsorship deal and generate $10,000 sponsorship revenue in the next 30 days by gathering the right audience data and understanding the difference between a vitamin and a painkiller solution for your customers.__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Understanding the Importance of Distribution for Founders02:45 The Journey from Employee to Entrepreneur05:57 The Evolution of Influencer Marketing08:47 The ROPE Method: A Framework for Successful Partnerships12:07 Common Mistakes in Influencer Marketing14:50 The Power of Customer Understanding and Personalization18:02 The Importance of Clarity and Saying No22:43 The Entrepreneurial Journey: Trading Time for Freedom25:08 Architecting Your Life: Defining Success26:07 Building Trust at Scale: The YouTube Focus27:06 Analyzing Audience Engagement: The Importance of Feedback30:23 Identifying Pain Points: Crafting Effective Surveys34:07 Sponsorship Strategies: Aligning with Audience Needs39:47 Proof of Influence: Validating Your Impact43:35 Reframing Sponsorship: Serving Your Audience

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I discuss with Chris Munn and Trenton about the tough realities facing small business owners and entrepreneurs today. We dive deep into how business leaders are navigating increasing political polarization in business and the pressure to take a public stand on social issues, discussing case studies like the backlash against Bud Light and MyPillow, and whether sticking to company core values and business values is the best path for small business survival.We also break down the latest economic shifts affecting small businesses, from Fed rate cuts and Federal Reserve policy, and their impact on small business asset prices, business valuations, and SBA loan delinquency rates, hitting a 20-year high. We explore the small business hiring crisis, challenges of employee retention, and talent acquisition amidst low unemployment rates and the rising cost of living for those not holding business assets or real estate assets.Plus, we dive deep into the massive business opportunities and strategic shifts driven by AI automation, artificial intelligence implementation, and AI tools for small businesses, from boosting productivity and business efficiency to the rise of the solopreneur movement and one-person businesses. We discuss AI implementation strategies, business automation tools, and how AI consultants and automation engineers are becoming essential business roles.Questions This Episode Answers:How should business leaders and entrepreneurs navigate the pressure to take a public stand on political issues and social issues while maintaining business growth?What do Fed rate cuts, interest rate changes, and high borrowing costs mean for small business valuations, business acquisitions, and SBA loan approval?How is the current economic climate and inflation impact affecting small business hiring, employee expectations, and wage demands for small businesses?What are the biggest AI opportunities and practical AI applications for small businesses, including AI automation tools and AI implementation strategies?Why is it becoming harder to buy and sell small businesses in the current business market, and what are the alternative business strategies and entrepreneurship opportunities?__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Navigating Leadership and Political Stances17:53 Understanding the Impact of Fed Rate Cuts on Small Businesses24:09 Economic Disparities and Asset Ownership29:49 The Impact of AI on Employment and Business35:59 Entrepreneurship and the American Dream41:46 AI as a Business Multiplier47:03 Conclusion and Call to Action

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Hector (https://x.com/ts_secrets). Hector reveals how he accidentally stumbled upon a little-known government grant and used it to build a multi-million dollar online trade school.He teaches trades like HVAC, plumbing, and medical billing completely online, sometimes using VR goggles. He shares how the government pays him directly, up to $10,000 per student, for courses that are only 80-100 hours long.We get into the nitty-gritty of how he finds students for free by partnering with nonprofits and sober living homes, achieving SAS-like margins without any traditional marketing. Questions This Episode Answers:How can you get the government to pay you $10,000 per student?How do you start an online school with almost no startup costs?What is the "secret" to getting unlimited students for free?How do you automate a business to the point you only work two hours a day?What is the WIOA grant and how does it work for entrepreneurs?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Introduction to the Online Trade School Model03:07 Understanding the Grant System and Its Impact05:56 The Evolution of the Business Model08:51 Customer Acquisition Strategies11:48 Curriculum Development and Accreditation15:02 Operational Insights and Business Growth17:55 Challenges and Future Aspirations

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Matthew Chang (https://x.com/MatthewAChang). This episode features Matthew Chang, a Georgia Tech engineer and Ernst & Young Entrepreneur of the Year finalist, who founded Chang Robotics and is a general partner of the $50 million Chang Robotics fund.We dive deep into how his company designs and installs robotic systems for manufacturing automation, hospital robots, and autonomous vehicles to make the workforce more efficient, safer, and happier through healthcare automation.Matthew shares the story behind America's first autonomous hospital initiative, where $200K hospital robots deliver supplies in 90 seconds with 18-month ROI. Discover why humanoid robots aren't ready for commercial robotics applications and how specialized robotics using collaborative robots (cobotics) are revolutionizing factory automation and healthcare robotics instead.From driverless paper factories producing toilet paper during COVID to FAA-compliant electric vehicles six times more powerful than Tesla, Chang Robotics tackles the hardest engineering challenges in industrial automation. Learn about their breakthrough PFAS-free food packaging using graphene oxide and how they beat 700+ competitors to win the federal DOT grant for America's first driverless bus system in Jacksonville.We explore Matthew's venture studio approach with the Chang Robotics Fund, requiring "Made in USA" manufacturing and proprietary engineering for robotics startups. Plus, hear about his upcoming book "Risk-Taking is Biblical" on faith-based entrepreneurship and Christian business principles.Questions This Episode Answers:How do you ensure robotic automation is adopted by the existing manufacturing workforce and healthcare workers?What technical challenges prevent humanoid robotics from working in real-world applications?How does engineering consulting deliver end-to-end automation solutions from design to robotic system installation?What investment thesis drives a robotics venture fund offering scaled engineering support with "Made in USA" requirements?What strategies won a competitive federal grant for autonomous transportation against major tech companies?__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Innovating Beyond the Norm02:55 Transforming Healthcare with Robotics05:45 The Journey to Autonomous Solutions08:42 Navigating the Challenges of Robotics12:01 From Engineering to Entrepreneurship14:55 Winning Against the Odds17:51 The Future of Autonomous Vehicles20:42 Building a Sustainable Business Model24:03 Investing in Innovation26:56 The Role of AI in Engineering29:42 Creating a Christian Business Framework

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Elizabeth Knopf (https://x.com/leveragedupside) for an incredible dive into AI app building and no-code development tools transforming entrepreneurship. We explore Google's Nano Banana AI, their revolutionary Gemini Flash 2.5 image model with game-changing visual memory technology for precise editing and AI image generation.Elizabeth demonstrates Google AI Studio live, showcasing the powerful Stream feature for real-time debugging and AI automation. She reveals how she used Claude Code tutorial methods to build custom RSS feed automation, replacing paid subscriptions, plus her personal AI assistant dashboard with AI agents for project management and task automation.Questions This Episode Answers:What is Nano Banana AI, and why is visual memory revolutionary for AI image editing?How does Google AI Studio Stream enable real-time debugging during custom app development?How can entrepreneurs use Claude Code and AI automation tools to build apps without coding?What are the benefits of AI-powered project management with personal AI assistant agents?Where are the arbitrage opportunities in AI app building for non-technical entrepreneurs?Tools Covered:Google AI Studio complete walkthroughClaude Code tutorial for beginnersNano Banana (Gemini Flash 2.5) AI image generationCustom dashboard creation with AI agentsRSS feed automation and app replacement strategiesEnjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Introduction to AI Tools and Excitement for Innovation03:09 Exploring NanoBanana: Google's New Image Model05:50 Visual Memory and Image Generation Improvements09:01 Google AI Studio: A New Interface for Building Apps11:53 Real-Time App Development with Claude Code15:04 Innovative Features: Maps and Video Analysis17:53 Creating Engaging Content with AI Tools21:47 Harnessing AI for Arbitrage Opportunities23:13 Building Custom Tools with Google AI Studio24:36 Creating a Personal RSS Feed Tool26:27 Project Management and Organization Strategies28:39 Developing a Personal Operating System32:14 Automating Tasks with AI Agents35:25 Curating Information and Building Newsletters

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I speak with Michael Girdley (https://x.com/girdley), a serial entrepreneur and investor, about building a business, avoiding common mistakes, and identifying future opportunities.Michael shares insights from his diverse experiences, from Alamo Fireworks to Gertling Media, emphasizing the importance of experience and strategic business choices.We delve into overrated business opportunities and explore unconventional business models.Questions this Episode Answers:What two-step process would Michael Girdley follow to build a business in 2025, and how would he make his first million dollars?Why does Michael Girdley advise against buying a business as your first venture, especially for a young entrepreneur?What are some overrated business opportunities in today’s market, and what sectors hold promise for the future?What is Michael Girdley's contrarian belief about business, and how does it influence his perspective on career choices and entrepreneurial paths?What unconventional business model does Michael find fascinating?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this  with your opinion or send me an email at [email protected] with your thoughts.__________________________MY NEWSLETTER: Spotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Introduction and Guest Background01:00 Business Ventures and Investments01:44 Current Business Scale and Operations03:09 Starting Over in 2025: Step-by-Step Guide05:13 The Value of Experience and Financial Safety07:11 Starting a Low-Capex Services Business10:01 The Reality of Online Courses14:19 The Hold Co Conference and Learning from Failure19:44 Sympathizing with the Struggles of Entrepreneurs19:15 The Fine Line Between Faking It and Failing21:22 Excitement for the Upcoming Conference22:09 The Concept of an Unconference23:21 Challenges and Risks in Event Planning24:28 Innovative Business Models in Event Management29:22 Advice for Aspiring Entrepreneurs32:24 Contrarian Views on Business Opportunities35:16 The Importance of Personal Fit in Career Choices38:32 Different Paths to Entrepreneurship39:31 Conclusion and Final Thoughts

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Sam Nebe (https://x.com/1_of_Sl), the founder of Good Wipes! This entrepreneur startup story shows how two college roommates bootstrapped a million dollar business from $42,000 to conquering 14,000 stores.Learn how they achieved their first million through retail distribution strategy, growing their consumer products startup in the flushable wipes industry to reach 2.2 million households and adding 430,000 new customers through Walmart alone.Sam shares how he and co-founder Charlie built this CPG startup using pure intuition and unwavering conviction in an "unsexy" category that's now worth $5 billion. This business growth story reveals their bootstrap business strategy of mastering the Four P's of Marketing, employing irreverent marketing with creative director Maria Gilbo, and strategic retail partnerships that made them a Walmart supplier.We dive deep into customer acquisition strategies including influencer marketing, PR box campaigns, and their viral Golden Porta Palace experiential marketing activation. Sam also discusses his work with the Responsible Flushing Alliance, promoting Flush Smart Month and consumer education initiatives.Enjoy the conversation!Key Topics Covered:Entrepreneur startup journey from fraternity bathroom idea to retail empireBootstrap vs venture capital funding strategiesRetail distribution strategy and partnership buildingConsumer goods startup scaling tacticsMillion dollar business development through focused growthCPG entrepreneur insights and industry knowledgeCustomer acquisition through creative marketing campaignsBuilding a startup podcast-worthy success storyQuestions This Episode Answers:How did Good Wipes transform a college business idea into a multi-million dollar business and category leader?What role did intuition and unwavering passion play in building a startup brand before having significant market data?How can bootstrap entrepreneurs use irreverent marketing and the Four P's to compete against larger companies?What customer acquisition strategies work for consumer products startups, including influencer marketing and experiential activations?How can young entrepreneurs strategically say "no" to growth opportunities for sustainable expansion?__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 The Journey of Good Wipes: From Concept to Success10:08 Innovative Marketing Strategies and Influencer Engagement19:55 Navigating Challenges and Growth in the CPG Space29:54 Future Aspirations and Industry Insights

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Jas from Winnipeg Digest (https://x.com/creatingjas). Jas is back for a third time, and his journey is incredible to watch. He first built a local newsletter, the Winnipeg Digest, into a massive distribution channel with over 100,000 people in his audience. Now, he's leveraging that audience to launch his own businesses, starting with a seasonal holiday lighting company.In this episode, we break down his new venture from the ground up. Jas shares the exact strategy he used to launch the lighting business using his newsletter, including a brilliant giveaway tactic he learned from Alex Hormozi. He explains why he chose a seasonal business, his goal of hitting $100,000 in revenue in his first season, and how this entire project serves as a case study to attract future business partners. We get into the nitty-gritty of his first week—how he sold $5,000 in jobs with no website, just an ad in his newsletter. This is a masterclass in using an existing audience to create new revenue streams and build a portfolio of companies.Questions This Episode Answers:• How can you leverage a newsletter audience to launch a completely new business?• What's a smart, low-cost marketing strategy to get your first customers for a service business?• Why would an entrepreneur choose a seasonal business model like holiday lighting?• What are the key startup costs and revenue goals for a new holiday lighting business?• How can a new business be used as a "case study" to attract future equity partners?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Launching a New Venture: Christmas Lights Business02:41 Building on Audience: From Newsletter to Business06:02 Marketing Strategies and Initial Success08:54 Understanding the Business Model and Pricing11:44 Execution Challenges and Future Plans14:39 Exploring New Opportunities and Growth18:02 Final Thoughts and Future Outlook

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Michael Clark. We dive into the incredible story behind The Flower Letters, a subscription business started with his wife, Hanny Clark, that mails immersive, physical story letters to subscribers.What started as a small idea in April 2020 with World War II love letters has exploded into a multi-million dollar venture, projecting $8-10 million this year! Michael shares how they bootstrapped this unique concept, scaling to over 50,000 subscribers by focusing on daily profitability and smart advertising strategies, leveraging a prepaid option for cash flow.You'll hear why he considers this direct mail business, despite his FinTech background, the most complicated he's ever built, managing over 900 inventory pieces in-house. We also discuss their "long game" vision, transforming The Flower Letters into a mission-driven company with potential for TV shows, audiobooks, and more, while carefully integrating AI only for artistic elements. Questions This Episode Answers:How did The Flower Letters grow from 33 subscribers to over 50,000 with multi-million dollar revenue?What advertising strategy was key to their rapid customer acquisition and how did they manage a $30 CAC?How does a subscription business like The Flower Letters prioritize daily profitability and manage cash flow through prepaid options?Why is a seemingly simple direct mail business considered the "most complicated" venture by a FinTech entrepreneur, and how is its fulfillment handled?How do The Flower Letters leverage a "long game" strategy to build a mission-driven company with a growing catalog of stories and future content expansion?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 Rapid Growth and Business Model Overview03:02 The Origin Story: From Idea to Execution05:53 Marketing Strategies and Customer Acquisition08:46 Financial Insights and Business Economics12:06 Creating a Unique Customer Experience14:58 Operational Challenges and Fulfillment Process25:07 In-House Fulfillment and Customer Service27:58 The Importance of Storytelling in Business30:21 Creative Storytelling and the Role of AI36:38 Revenue Growth and Business Strategy38:59 Building a Sustainable Business Model42:47 Leveraging the Postal Service for Success44:45 Community Engagement and Pen Pal Ideas46:43 Launching a Podcast and Sharing Stories