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Nick Huber started his business journey hauling boxes for college students. Today, he’s turned that grind into a $140 million real estate empire. His journey isn’t about flashy pitches or market analysis; it’s about finding opportunities and providing exceptional service. This article dives deep into Nick Huber’s business model, showcasing how he built a successful empire from the ground up.
The Humble Beginnings of Storage Squad
Huber’s first venture, Storage Squad, didn’t begin with a grand vision. It began with a simple Craigslist ad in 2011, the summer before his senior year at Cornell University. While some friends were chasing investment banking internships, he was back home in Leopold, Indiana, unsure of what he wanted to do. He decided to sublet his Ithaca apartment, and that’s when the mother of a fellow student contacted him through Craigslist about storing her child’s belongings. This seemingly small interaction laid the foundation for what would become a significant business. Storage Squad quickly expanded to other college towns, including Boston, Philadelphia, and Washington D.C.
The “Sweaty Startup” Philosophy: A Different Approach
Nick Huber’s success isn’t based on disrupting industries or aiming for sky-high valuations. Instead, his “sweaty startup” philosophy prioritizes practical solutions and customer service. He focuses on finding under-served niches and improving existing processes. He doesn’t shy away from hard work, and he believes a business needs to be profitable within a couple of months. This contrasts sharply with the typical VC-backed startup model. His philosophy is detailed in his upcoming book, “The Sweaty Startup.”
Identifying Opportunities and Creating Value
Huber is a master at finding and capitalizing on opportunities. He often identifies local businesses with poor customer service. One of his tactics is to call businesses pretending to be a customer, particularly on weekends. If the business takes too long to answer, or if the customer service isn’t up to par, it often means they are an easy target. He buys struggling businesses, often spotting them by the use of antiquated technology like fax machines. This approach allows him to improve processes, boost customer satisfaction, and increase profits. This “better service” approach is an important element of his business model.
Expansion and Diversification
As Storage Squad grew, Huber didn’t stop there. He began buying storage units, eventually accumulating a significant portfolio. He wasn’t just building a storage business; he was building a network. In addition to his core storage services, he started other businesses. These ancillary services provide essential support for his core business activities and demonstrate a keen understanding of building a diversified business model.
A Business Model Built on Hard Work
Huber’s success isn’t accidental; it’s a result of meticulous observation, a willingness to work hard, and an eye for opportunity. He found a gap in the market with Storage Squad. He’s identifying additional markets, leveraging opportunities, and building a diversified network of services. He recognized that if he was willing to sweat, he could improve processes and create lasting value for his customers.
Key Takeaways from Nick Huber’s Business Model
- Identify underserved markets and look for opportunities to improve existing processes.
- Prioritize execution and customer service above all else.
- Bootstrapping is key to getting a business up and running quickly.
- Focus on making your business profitable within months, rather than chasing unrealistic growth.
Nick Huber’s journey serves as a powerful reminder that entrepreneurship is about more than just ideas. It’s about meticulous observation, hard work, and a relentless pursuit of improvement. His approach, exemplified by his “sweaty startup” philosophy, can inspire countless aspiring entrepreneurs. Leave a comment below and share this article with your friends to spread the word! This story is a true testament to the power of hard work and a customer-centric approach.
