How I Built a $10m Business in 32 Minutes
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In this episode, I’m talking about my first major business, an iPhone parts business called LCD Cycle, that I ran for seven years. I’ll discuss how it started from a small iPhone repair business and grew to a multi-million dollar e-commerce operation. I’ll share some key business frameworks I learned along the way, such as the importance of location, recognizing good ideas, and the fact that it’s never too late to start a business. I also talk about the importance of product market fit and that businesses don’t always fail, sometimes founders just run out of energy. Finally, I discuss my decision to turn down a million dollars in investment.
Timestamps below. Enjoy!
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Learn more about me: https://www.chrisjkoerner.com/
Business ideas shorts channel: @thekoernerofficeideas (https://studio.youtube.com/channel/UCzjpCGEXR7BU-_SJSl59CGQ)
The Koerner Office highlights: @thekoernerofficesegments (https://studio.youtube.com/channel/UCYEzHNmI-1oIqimmOnul_fg)
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00:00 Introduction and Personal Update
00:40 The Birth of a Business Idea
01:58 Launching the First Business
03:05 Overcoming Initial Struggles
04:03 Expansion and New Opportunities
04:20 Venturing into iPhone Parts
05:11 Building a Supply Chain
07:18 Scaling the Business
08:11 Lessons and Frameworks
15:45 Final Thoughts and Call to Action
16:09 Business Beginnings and Initial Success
17:07 Innovative Strategies and Industry Impact
18:12 Geographical Expansion and Strategic Moves
21:36 Financial Challenges and Support
23:34 Seeking Investment and Difficult Decisions
26:14 Reflecting on Business Decisions and Outcomes
30:41 Concluding Thoughts and Future Outlook
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For the Algorithm:
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