72 - How to Start a Negative COGS Business with Chris Koerner

Nikonomics - The Economics of Small Business

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Join me, Nik (https://x.com/CoFoundersNik), and my business partner, Chris Koerner (http://tkopod.co/p-x), as we talk about some exciting business ideas and what's happening in our companies. In this episode, we explore how to start a YouTube channel for your home services business by creating time-lapse videos to use as a marketing funnel. We also discuss how to leverage Instagram's Close Friends feature as a marketing channel for influencers to boost engagement.

We talk about the concept of Negative COGS (Cost of Goods Sold), which is all about getting products for free or even being paid to acquire them and then turning around to sell those products. We share examples like EcoScraps, turning surplus food waste into a profitable business. We also discuss the story of a lake weed removal business started by two college students, who scaled up from manual labor to using machinery with smart social media marketing.

Chris's YouTube: http://tkopod.co/p-yt
Questions this Episode Answers:

• How can you use time-lapse videos to promote your home services business?
• What is the Instagram Close Friends feature and how can it be used for marketing?
• How does the concept of Negative COGS work, and how can you apply it?
• What are the steps to starting a lake weed removal business and scaling it?
• How can you leverage follower data to create unique collaboration opportunities and boost engagement?

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This week we covered:
00:00 Highlights and Introduction
01:05 Introduction to the Close Friends Feature on Instagram
01:54 Leveraging Close Friends for Increased Engagement
03:10 Monetizing the Close Friends Feature
06:21 Scraping Instagram Followers for Business Opportunities
11:32 Exploring Negative COGS Business Ideas
15:37 The Lake Weed Removal Business
17:36 Chemical-Free Pond and Lake Cleaning
17:59 Going Viral on Social Media
18:45 A Generous Offer
19:00 Business Boom and Social Media Success
20:22 Franchising and Licensing Opportunities
20:43 Top 10 Media-Accelerated Home Services Businesses
21:50 Pressure Washing and Pool Cleaning
23:33 Home Cleaning and Tree Trimming
25:46 Painting and Landscaping
31:13 Window Washing and Gutter Cleaning
31:37 Carpet Cleaning and Business Strategy
32:16 Leveraging Social Media for Business Growth
34:23 Partnering with Nationwide Franchisors