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Episode Info

Episode Info:

In this episode, Colton speaks with Frederick Lansky of Points Panda (https://pointspanda.com) about Frederick's recent partnership breakup and buyout from his first company. They also chat about the differences between ecommerce and productized services, how making one person the face of the company can make it harder to sell, Frederick's advice for people wanting to leave the corporate world, staying healthy as an entrepreneur, and much more...

GUEST BIO: Frederick Lansky is an entrepreneur and digital nomad. Frederick started iChess (https://www.ichess.net/) - an ecommerce site that sells instructional videos for chess players - and grew it to $1M in annual revenue. He has since left iChess and gone on to start Points Panda (https://pointspanda.com), a productized service business that provides credit card consulting and airline miles reward booking for one flat rate.

SKIP TO THE GOOD PARTS:

  • 0:58 - Frederick shares his story on how he got started.
  • 4:47 - The story of Frederick's recent business iChess.
  • 6:24 - Growing iChess to $1M ARR.
  • 8:07 - Chris Reynolds and the importance of having a coach.
  • 11:13 - Respectfully parting ways.
  • 14:19 - Rethinking ways of handling a business partnership.
  • 19:25 - A different business model.
  • 24:42 - Sustainable ways of growing a business.
  • 27:55 - Some things to consider when looking at ecommerce, digital product ecommerce or productized services.
  • 32:38 - Frederick suggests ways to reduce expenses in order to start a business.
  • 35:17 - Spending a year abroad to get your business off the ground.
  • 38:04 - Getting systems in place in order to sell your business.
  • 40:07 - Leveraging your image for your business.
  • 43:56 - Selling an ecommerce business vs selling a productized service business.
  • 46:26 - What Colton is up too now, and how to connect with him.

SHOW TRANSCRIPT: [[VIEW ON OUR WEBSITE]] Enjoying our podcast? Support us by leaving us a review on iTunes or on your favorite podcast app.

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