#13: From a $5K investment to a boring $12M per year business w/ Nathan Hirsch
June 13, 2023
Nathan Hirsch is a lifelong entrepreneur and focuses on the unsexy or boring parts of entrepreneurship (bookkeeping and hiring). He is currently the CEO of EcomBalance/AccountsBalance and Outsource School.
Nathan is best known for co-founding FreeUp.net in 2015 with an initial $5,000 investment, scaling it to $12 million in yearly revenue, and having it acquired in 2019.
Today, he leads EcomBalance/ AccountsBalance, an online monthly bookkeeping service for eCommerce and digital businesses, and Outsource School, a membership teaching business owners how to hire effectively online. Nathan has appeared on 700+ podcasts and you can follow him on LinkedIn.
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Key Takeaways:
[3:25] – Nathan shares the story of how he made $12 million per year from a $5,000 investment
[8:11] – How did Nathan evaluate and compare the different channel sources he tested?
[13:38] - Why Nathan and his business partner sold their profitable VA Freelancer business to one of their clients
[16:28] – What motivated Nathan to start bookkeeping services
[19:40] – The benefits of productizing your service through courses
[25:34] – Why Nathan believes you will only know your business partner’s capability during bad times and why delegation is essential as a business owner
[27:46] – Why balance between work and social life is essential and Nathan’s best practices
[33:13] – The frameworks Nathan uses in his business & his company's core values
[35:21] – Nathan shares the $100 challenge and how it helps employees learn the company values and expectations
[37:02] – Nathan explains why he hires from the Philippines
[40:55] – What advice would Nathan give to himself if he could go back in time?
[8:11] – How did Nathan evaluate and compare the different channel sources he tested?
[13:38] - Why Nathan and his business partner sold their profitable VA Freelancer business to one of their clients
[16:28] – What motivated Nathan to start bookkeeping services
[19:40] – The benefits of productizing your service through courses
[25:34] – Why Nathan believes you will only know your business partner’s capability during bad times and why delegation is essential as a business owner
[27:46] – Why balance between work and social life is essential and Nathan’s best practices
[33:13] – The frameworks Nathan uses in his business & his company's core values
[35:21] – Nathan shares the $100 challenge and how it helps employees learn the company values and expectations
[37:02] – Nathan explains why he hires from the Philippines
[40:55] – What advice would Nathan give to himself if he could go back in time?
Resources:
Paul Graham’s Maker’s Schedule vs. Manager’s Schedule - http://paulgraham.com/makersschedule.html
Deep Work: Rules for Focused Success in a Distracted World by Cal Newports – https://www.amazon.com/Deep-Work-Focused-Success-Distracted/dp/1455586692
Deep Work: Rules for Focused Success in a Distracted World by Cal Newports – https://www.amazon.com/Deep-Work-Focused-Success-Distracted/dp/1455586692