Biz Brainstorms by Connor Gross
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Worst Type of Business, $113M from Nuts, Bucket Hats For Henry

Worst Type of Business, $113M from Nuts, Bucket Hats For Henry

oh and free cold brew if you read to the bottom

Connor Gross
August 22, 2022

Welcome Back (or hello if you're new)

2 Housewarming Things:

If you're new, say what's up
If you want free cold brew, read until the bottom

Ok, onwards!

My goal: Build profitable companies & buy real estate with the profits. Without compromising health & epic adventures along the way.

Newsletter goal: You leave with one idea to make more $$$ or have a better life.

📚 1 Business Lessons:

It's extremely rare for someone to have their first business be successful.

Successful business owners take a sh*t ton of swings at bat.

Which usually means, they have a graveyard of failed business.

Same goes for me.

PSA – Don't try to sell scented mask sprays (R.I.P. Maskroma)

anyywayyy, there are 3 outcomes when you start a business.

Success & Instant 💰
So-So results. Couple of sales & happy customers.
Failure & no one buys your stuff

Here's the thing no one tells you:

Result #2 is significantly worse than Result #3.

You don't make 💰💰💰 in either, but at least in #3 you aren't wasting your time.

I'm not saying business is easy.

But if you're 1... 2... 3 years into your business and still feel like you're pushing a rock up the hill and that every sale is really tough...

Quit. Take a Break.

Save your time & find another way to make money.

💰 2 Business Ideas:

1. Open Store For Indie Hackers –

Have you heard of Open Store?

TLDR: They're an e-commerce aggregator that buys Shopify stores super quickly

You give them your store URL and some information → Offer in 24 Hours → Close all cash in 2-4 weeks.

And they (probably) are getting deals for less than they should because of their ability to close cash quickly.

I think with the rise in IndieHackers (indiehackers.com gets 1.3 M hits per month) you can build an OpenStore for Indie Hackers.

IndieHackers are typically someone who sets out to make money independently. Most often they build small content sites, digital products, and 'micro-saas' companies.

You can define your niche (ie. micro-saas) and market your fund as fast all cash offer for that Inventory Planning Software doing 5k MRR

This requires cash but significantly less than Open Store and could be really fun marketing.

2. HENRY Content & Merch –

Ok... so maybe a throwaway idea but this is super accessible for someone with little money to start (unlike the previous idea).

I must have been living under a rock, but I just learned this term –

HENRY = High Earners Not Rich Yet

Which... is such a hilarious category.

And it's such a brandable term if someone wants to make content around it.

It's defined as "Someone who earns between $100K and $250K, but has not amassed investable assets of $1M"

There are currently 34 Million people in the U.S. who fall into this category.

This falls into the 3 big categories that will always exist (Wealth, Health, Relationships).

The business ideas here are endless but in my opinion it's some form of community or content that vilifies the traditional personal finance space (ie. skip the Oat Milk Lattes) and focuses on how to get them past that $1M mark.

And the merch would be so fun...

Can you imagine you & all of the lads walking around wearing these?