229 - Michael Girdley’s Guide: How to Start a Successful Business in 2025

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Join me, Nik (https://x.com/CoFoundersNik), as I speak with Michael Girdley (https://x.com/girdley), a serial entrepreneur and investor, about building a business, avoiding common mistakes, and identifying future opportunities.

Michael shares insights from his diverse experiences, from Alamo Fireworks to Gertling Media, emphasizing the importance of experience and strategic business choices.

We delve into overrated business opportunities and explore unconventional business models.

Questions this Episode Answers:

• What two-step process would Michael Girdley follow to build a business in 2025, and how would he make his first million dollars?
• Why does Michael Girdley advise against buying a business as your first venture, especially for a young entrepreneur?
• What are some overrated business opportunities in today’s market, and what sectors hold promise for the future?
• What is Michael Girdley's contrarian belief about business, and how does it influence his perspective on career choices and entrepreneurial paths?
• What unconventional business model does Michael find fascinating?

Enjoy the conversation!
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This week we covered:

00:00 Introduction and Guest Background
01:00 Business Ventures and Investments
01:44 Current Business Scale and Operations
03:09 Starting Over in 2025: Step-by-Step Guide
05:13 The Value of Experience and Financial Safety
07:11 Starting a Low-Capex Services Business
10:01 The Reality of Online Courses
14:19 The Hold Co Conference and Learning from Failure
19:44 Sympathizing with the Struggles of Entrepreneurs
19:15 The Fine Line Between Faking It and Failing
21:22 Excitement for the Upcoming Conference
22:09 The Concept of an Unconference
23:21 Challenges and Risks in Event Planning
24:28 Innovative Business Models in Event Management
29:22 Advice for Aspiring Entrepreneurs
32:24 Contrarian Views on Business Opportunities
35:16 The Importance of Personal Fit in Career Choices
38:32 Different Paths to Entrepreneurship
39:31 Conclusion and Final Thoughts