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Nick Huber

How to spot opportunity (a mindset shift)

Published 10 days ago • 4 min read

One quick promo before we jump in:

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I have web developers, engineers, customer service reps, project managers, sales reps, operations managers and more from all over the world (Latin America, South Africa, Philippines) - all hired through Support Shepherd.

The best part:

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Set up a call if your company needs incredible talent.

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How to spot opportunity:

I have a challenge for you this week that will help you think about business and opportunity in a whole new way.

Go for a walk by yourself or with a friend in your local downtown area.

Every business you pass by, ask yourself these 6 questions:

1) How does this business make money?

2) Roughly how much money do they make per day, week and month?

3) How many employees do they have and what do these employees cost the business each month?

4) How much did it cost to start this business? What's the minimum amount of $ you would need to make it happen?

5) How much rent do they pay for this location or how much was it to buy this building?

6) How much profit might this business generate for the owner each year?

Observe ALL of the companies around you.

Restaurants, bars, coffee shops, retail stores, professional services, banks, hotels, movie theaters, barber shops, etc. If they are in business in your town and they have been there for a while, they are making money and providing value.

Then answer the following two questions:

1) How would I run this business more efficiently if I were the owner of it?

2) How would I create more revenue or reduce costs and how could I operate this business just a little bit better?

If you walk around the world with this mindset, you’ll discover an infinite amount of opportunities.

You will start to understand which businesses are good businesses (i.e profitable, easy to operate, sustainable, simple) And which businesses are bad businesses (i.e painful, low margin, high-turnover, complex, tons of moving parts, etc)

And you will learn a ton about where you want to spend your time and which opportunities you might want to pursue.

Go do this and then respond to this email with what you learned or saw this weekend or next week.

I do this everywhere I go. I do it with both in-person and internet businesses. I do it with friends and family members and it starts great discussions on business and operations.

And its how I find my own opportunities!

--

The goal for most new entrepreneurs should be:

  1. Gain financial freedom

and

2. Maximize the probability of achieving #1

Why don’t more folks think about opportunities with more weight added to #2?

Don't get distracted from the main goal!

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Building an audience has been a game changer for me. Here is some really good advice on making it happen:

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A heat check on the self storage market:

Onward and upward,

Nick Huber

P.S.

When SEO works, it really works.

I'm proud of the team at Bold SEO and it's been awesome to see what we're doing for small businesses.

Selfishly, it's also been great to see what they are doing for my own businesses.

Below is a screenshot of a text that Barrett (my partner at Bold) got from one of Bold's clients.

If customers find you via Google search or Google Maps, a link building strategy can work wonders for you. You don't need to use Bold, but use somebody to build links for your business!

If you'd like to learn more about why Link Building is important, read this. You can check your own domain authority vs your competitors with this tool.

Share with friends, get cool free stuff

  • 1 Referral: 200+ Free Business Ideas cheatsheet
  • 3 Referrals: Delegation & Hiring (101)
  • 5 Referrals: Twitter Growth Course ($500 value)
  • 10 Referrals: Nicks Real Estate Starter Class ($749 value)
  • 100 Referrals: 30 Minute Call w/ Nick

Please note, these rewards are in limited supply, get moving while they last.

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113 Cherry St #92768, Seattle, WA 98104-2205

I have financial interest in many companies mentioned in this newsletter.

Nick Huber

Entrepreneurship & Real Estate

I own a real estate firm with over 1.9 million square feet of self storage and 45 employees. I also own 6 other companies with over 400 employees. I send deal breakdowns with P&Ls. Newsletter topic: Real Estate, Management, Entrepreneurship

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