• How I Built a $10M Business⏐Ep. #114

  • Jan 6 2025
  • Length: 32 mins
  • Podcast

How I Built a $10M Business⏐Ep. #114

  • Summary

  • In this episode, I'm talking about my first major business, an iPhone repair 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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    00:00 Introduction and Overview
    00:37 The Beginnings: iPhone Repair Business
    04:18 Launching the iPhone Parts Business
    07:28 Scaling and Success
    10:21 Frameworks and Lessons Learned
    15:46 Navigating Market Saturation
    16:02 The Rocket Ship Growth of LCD Cycle
    16:44 Innovative Business Strategies
    18:38 The Power of Customer Feedback
    19:10 Strategic Relocation to Dallas
    20:47 Expanding Distribution Centers
    21:13 Financial Challenges and Solutions
    23:11 The Turning Point: Seeking Investment
    24:39 The Unexpected Answer
    25:54 Winding Down the Business
    27:34 Reflecting on the Journey
    30:22 Final Thoughts and Advice

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