Nate Hirsch is an serial entrepreneur and hiring expert. His first business, Portlight, is an Amazon Marketplace seller representing top toy, baby, and home brands. In 2015 he founded FreeeUp with the purpose of providing business owners with an easier solution to accelerating their growth through remote workers.
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3 Key Points:
- Constant improvement and waking up early are two keys to success.
- Diversify your revenue stream.
- NET revenue is the most important number for your business.
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Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [01:08] – Nathan shares his story
- [02:21] – How PortLight makes money
- [02:38] – How FreeeUp makes money
- [02:15]7 – Worst Entrepreneurial Moment: Revenue goals and a trip to Myrtle Beach — a vendor ended their contract and he had his identity stolen same week!
- [04:38] – Diversify! — you never know what will happen
- [05:25] – Multiple revenue streams
- [06:00] – Entrepreneurial AH-HA Moment: Running a million dollar business in college — bookkeeper wanted Nathan to hire someone — lesson learned? Never be understaffed
- [07:40] – Getting into detail about how PortLight works
- [08:00] – Gross Revenue is $5 to $8M per year, net revenue is only a few $100K
- [10:15] – Be transparent with numbers
- [10:27] – NET PROFIT is what MATTERS
- [10:53] – Biggest weakness? — Patience
- [11:24] – Biggest strength? – Managing people and taking calculated risk
- [11:51] – What has Nathan most fired up today? – FreeeUp.com
- [14:24] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – The mindset that you graduate college and get a “real” job
- What’s the best piece of advice you’ve ever received? – Work hard, play hard
- What’s a personal habit that contributes to your success? – Wake up early
- Share an internet resource, like Evernote, with Fire Nation – Yet Another Mail Merge
- If you could recommend one book to our listeners, what would it be and why? – Delivering Happiness
- [17:21] – If you’re not improving something every day, you’re not doing your job correctly
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