7 Ideas I Found Last Month

Welcome to Biz Brainstorms –

My name's Connor.

I go down weekly rabbit holes of business ideas, lessons, & good finds.

Then, you get this 200 second email.

I currently own a Real Estate Business, E-commerce Brand & Service Agency.

So, everything you read here today is something I’ve saved in the last 30 days to help grow one of those 3 things (or I just thought it was interesting).

Today's Outline:
🔧 How To Fix Things When They Aren’t Working
🏡 15% IRR on Real Estate Deals
🥾 Crocs Profitability
🔎 The Wealthiest Person You Know
📝 SBA Business Plans
💰 How to Make 100k per month
🚀 LinkedIn Growth Strategy

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Business Checklist

The “game” of business changes when you realize you’re building a machine.

That machine is made up of systems.

And when you plug people, software & vendors into the machine, you get a company.

Right now we are having a down year on our e-commerce business (10% top line & 5% bottom line).

That’s the bad news. The good news is there 100+ things we can do to get back on track.

Things we’re currently testing:

• New ad creative (#1 priority)

• New landing page CRO & Design site-wide

• New products for first-time consumers

• Changing agencies (both acquisition & developers)

• New holiday based promotions

When things break, screenshot this checklist and work through each item to get things back on track.

Crocs Profitability

Not only are they more profitable but revenue is exploding.

Btw, if this gets you fired up, wait until I tell you about Uncrustables…

The Wealthiest Person You Know

99% of replies were real estate, software, inheritance.

The most unique:

• Disposing of military equipment

• Building sheds with the Amish and sells them nation-wide

• Produced 95% of plastic trophies in the world (is there a monopoly here??)

15% IRR on Real Estate Deals

Quick term definition: IRR = Internal Rate of Return.

It’s complex… but a fancy way of saying, “take all distributions & profit from owning & the sale of a property, divide it by the number of years you owned the property, and that’s your % return”.

We don’t raise outside capital for Atlas Storage, so I agree. We can’t do 15% IRR deals... it’s way too slow.

We need stupidly high 100% IRR minimum returns for deals to make sense.

90% of what Casey describes here is too complex for me. But one of the core principles he talks about are options.

An Option = A one-sided contract.

This gives a buyer the right (but not obligation) to buy a property.

If things go right, awesome!
If things go wrong, hand em’ back the keys.

It dramatically reduces your risk.

Why would a seller do this? Well, you usually pay a fee.

Let me explain in the scenario below:

1) Find a vacant building.
- Vacant it’s worth $500k.
- Filled it’s worth $1M
- Seller wants $750k.
2) Pay the owner of that building $10,000 for the option to buy it for $750k 2 years from now.
3) Spend the next year finding the tenant to fill the building
4) Once it’s filled, sell the “option” to buy that building to someone for $250k (the difference between it’s value and what you’re able to close on it for).

Real Estate is a risk game.

Options reduce your risk and give you that asymmetrical return.

SBA Business Plans

I love this idea.

You need an SBA business plan to apply for an SBA loan.

If I had capacity to start another business tomorrow, this would be it.

Plus think about all of the upsells you’d get from this… credit card applications, entity incorporation lead gen, etc.

This captures a very high value customer (new business owner) very high up in the funnel.

How To Make $100k/month

Similar to my first post, here’s a checklist to follow when your agency isn’t growing how you want it to.

My New LinkedIn Growth Strategy

😂😂😂

✌️ See you next week

-Connor

PS – What did you think of todays send? Bunch of random ideas/concepts I enjoyed... but are these interesting for you?