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Join me, Nik (https://x.com/CoFoundersNik), as I interview Dzmitry Miranovich (https://x.com/dzmitry9). Dzmitry is building a massive roll-up in the veterinary clinic space, currently with over 20 locations! Many people have ideas about what a roll-up or holdco actually is, but Dzmitry breaks down the real differences and reveals why he chose the roll-up route. We dive deep into what makes a good industry for a roll-up, from market fragmentation and tailwinds to operational value creation and how to actually quantify your runway for consolidation.

We also discuss the nuances of the JV model and why your first acquisition is crucial for long-term success. It's an insightful look into the art of consolidation and what it truly takes to build a successful roll-up.

Questions This Episode Answers:

• • What's the difference between a roll-up and a holdco?
  • What key characteristics make an industry ideal for a roll-up?
  • How do you calculate an industry's runway for consolidation?
  • How does a roll-up's operational value creation drive success?
  • Why is your first acquisition crucial when building a roll-up?

Enjoy the conversation!

__________________________

Love it or hate it, I'd love your feedback.

Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.

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This week we covered:

00:00 Understanding Holdcos vs. Roll-Ups

04:50 The Roll-Up Strategy: Why Choose This Path?

09:57 Key Characteristics of a Successful Roll-Up

14:47 Measuring Market Fragmentation and Consolidation

20:05 The Importance of Size in Acquisitions

23:26 The Importance of First Acquisitions

25:24 Navigating Challenges in Early Partnerships

28:19 Understanding the Veterinary Clinic Market

31:10 Differentiating the JV Model from Traditional Roll-Ups

36:25 Operational Value Creation in Roll-Ups

41:07 Identifying Market Tailwinds and Risks

44:03 Analyzing the Dental Roll-Up Market

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Join me, Nik (https://x.com/CoFoundersNik), as I interview Malcolm Marshall (https://x.com/malcolmpools). Malcolm shares his incredible W2 to entrepreneur journey from a VP of Finance role at C4 Energy during its hyper-growth phase (from $8 million to $300 million!) to successfully scaling his business, Poolology, an $18 million pool construction and home services business in Central Texas.

We dive into the surprising challenges of scaling businesses, the reality of bootstrapping, and how he navigated the shift from a W-2 to full-time entrepreneurship. You'll hear about the "aha!" moments, the hard-earned lessons, and what he would focus on if starting a new business today, especially in the promising field of AI infrastructure.

Questions This Episode Answers:

• How did Malcolm Marshall go from W2 to entrepreneur and scale his business, Poolology, from a small pool route to $18 million in revenue?

• What were the biggest financial stressors and operational challenges during C4 Energy's hyper-growth?

• Why did Malcolm leave a high-paying W-2 job with equity to start a small business?

• How do pool construction and maintenance businesses acquire customers and what are their typical EBITDA margins?

• If starting over, what industry would Malcolm focus on, and what’s the most crucial lesson he learned about team building?

Enjoy the conversation!

__________________________

Love it or hate it, I'd love your feedback.

Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.

__________________________

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Apple: https://tinyurl.com/bdxbr284

YouTube: https://tinyurl.com/nikonomicsYT

__________________________

This week we covered:
00:00 From Corporate to Entrepreneurship: The Journey Begins

02:40 Building Poolology: The Early Days and Growth Strategies

05:53 Navigating Rapid Growth: Challenges and Lessons Learned

08:47 The Transition to Construction: Expanding Services

11:38 Marketing and Customer Acquisition: Strategies for Success

15:01 Future Aspirations: Scaling and New Opportunities

17:52 Reflections on the Journey: What Would You Change?

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Join me, Nik (https://x.com/CoFoundersNik), as I interview Connor Boyack (https://x.com/cboyack). In this episode, we dive into the wildly unconventional business model behind the Tuttle Twins, a massive publishing empire that teaches kids the fundamentals of capitalism, economics, and entrepreneurship.

Connor breaks down the paradox of operating a highly profitable media arm entirely within a non-profit organization, the Libertas Institute (now the Libertas Network). We explore how a philanthropic kickstart model uses initial donations to ignite a self-sustaining marketing engine, and how treating a non-profit like an aggressive for-profit startup creates the ultimate market feedback loop. If you want to know how to aggressively scale a mission-driven brand without sacrificing your margin, you need to hear this!

Questions This Episode Answers:

1. How can you legally and effectively run a highly profitable business unit inside a non-profit organization?
2. What is the "philanthropic kickstart model" and how does it create a self-funding marketing strategy?
3. How can an unexpected demand surge impact your supply chain, and how do you pivot?
4. Why do most non-profits struggle with inefficiency, and how does applying an entrepreneurial mindset fix them?
5. How can a founder build personal wealth and earn royalties while leading a non-profit?

Enjoy the conversation!

__________________________

Love it or hate it, I'd love your feedback.

Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.

__________________________

MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe

Spotify: https://tinyurl.com/5avyu98y

Apple: https://tinyurl.com/bdxbr284

YouTube: https://tinyurl.com/nikonomicsYT

__________________________

This week we covered:

00:00 Highlights_The Rise of Tuttle Twins

03:02 Navigating Nonprofit and For-Profit Dynamics

05:54 The Mission-Driven Approach

08:46 The Impact of COVID-19 on Sales

12:09 Realizing the Power of Media

15:00 Overcoming Supply Chain Challenges

17:48 Entrepreneurial Journey and Lessons Learned

24:20 The Struggles of Early Entrepreneurship

25:49 Transitioning to Nonprofit Work

28:11 Financial Growth and Challenges

30:04 Revenue Streams and Business Models

32:56 The Nonprofit vs. For-Profit Mindset

35:51 Creating Wealth in Nonprofits

39:41 The Future of Libertas Network