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Nikonomics - The Economics of Small Business
Welcome to Nikonomics—the show for entrepreneurs and Wantrapreneurs, ready to tackle the toughest roadblocks to their first million.
Nik brings firsthand experience, having bought and sold over a dozen businesses, achieved multiple 7-figure exits, and generated over $100 million in revenue.
Each week, he blends humor with real insights from successful entrepreneurs, sharing growth strategies, deal insights, and unique business ideas you won’t find elsewhere.
Ready to turn your entrepreneurial dreams into reality? Hit play and let’s get to work.
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Nikonomics - The Economics of Small Business
205 - The $3 Million Online Trade School Model: Solving the Labor Crisis with Hector Resendez
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Join me, Nik (https://x.com/CoFoundersNik), as I interview Hector Resendez (https://x.com/TS_Secrets). Last time, Hector blew everyone's minds revealing how he ran a $3 million online trade school with incredible 30% net margins, largely funded by the government.
This time, we dive into how any company can leverage these same principles to solve their staffing shortages and create a brand-new revenue stream. With a massive labor shortage in essential trades like plumbers, electricians, and HVAC technicians, Hector reveals how businesses can become Eligible Training Providers (ETP), training their own staff and getting paid for it through federal grants.
He shares a fascinating example of how a dog grooming business added $300,000 in revenue and secured its talent pipeline. You'll learn about the On-the-Job Training (OJT) program, which can reimburse up to 50% of employee wages for 90 days, and how this model applies to diverse fields from healthcare (like CNAs) to IT sales and even dental front desk positions.
Questions This Episode Answers:
How can businesses leverage government grants to address staffing shortages and train employees?
What is the On-the-Job Training (OJT) program, and how does it provide 50% wage reimbursement for new hires?
Can businesses truly generate a significant revenue stream by running internal, grant-funded training programs?
Which industries and roles, beyond traditional trades, are eligible for this innovative funding and training model?
What are the practical steps and qualifications for a business to become an Eligible Training Provider (ETP)?
Enjoy the conversation!
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This week we covered:
00:00 The Trade School Revolution
02:51 Staffing Shortages in the Trades
05:44 Innovative Training Solutions
09:01 Leveraging Grants for Business Growth
11:56 Real-World Applications of Trade Schools
14:47 Navigating the Grant Process
18:10 Creating a Sustainable Staffing Pipeline
21:02 The Future of Trade Education
23:54 Conclusion and Call to Action
