From gumball machines to AI stores: How an entrepreneur followed what's trending to build an 8-figure business
Mike Burnett has had a nearly three-decade run an entrepreneur and small business owner. He unpacks the secrets to business longevity.
Serial entrepreneur Mike Burnett has built a successful 8-figure business by spotting trends and staying ahead of the curve. Starting in 1999 with tabletop games in restaurants, Burnett and his partner quickly grew their business, selling $20,000 worth of equipment in their first month. As they expanded into gumball, bulk-candy, and snack vending machines, Burnett began listening to the people operating his machines to learn about their customers' desires for healthier options.
In 2007, he launched HealthyYOU, a healthy vending business that grew into an eight-figure revenue company. Now, Burnett's latest venture is SmartMarket Solutions, which sells AI-powered micro-stores called SmartMarts. These smart vending machines allow customers to unlock a cooler, browse its shelves, and pay automatically for items they take.
Burnett emphasizes the importance of distinguishing between fleeting fads and lasting trends, validating the opportunity before making a bigger move, and staying connected to salespeople, operators, and customers to spot changes in demand early.
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