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In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with Serial Entrepreneur, Kim Hvidkjaer.

Kim explains that throughout his time as a serial entrepreneur, he has gone through many successes and failures. The failures have given him the ability to better avoid those mistakes and direct others away from them as well. Kim explains that growing a business too fast could cause a business to fail due to the risks of upping production with the possibility of a future decrease in demand. Covid has caused companies to focus on niche areas that may not be as high demand in a few years. Kim explains that Covid has caused businesses to change their operations in ways such as physical meetings changing to remote meetings. 

Kim explains that companies are not using proper sales metrics to gauge the results of their processes. Tracking data allows for a business to control their sales as they are measuring the real data for their products. Kim explains that he does consulting in the form of an investor or board member. It allows him to have engagement with multiple companies rather than being stuck on one. Kim explains that networking through word of mouth referrals or social media is where new leads tend to come from. 

Key Points from the Episode:

• The impact Kim has in the world
• Why 90% of companies fail
• Outside market forces
• Kim\\u2019s thoughts on what works and doesn\\u2019t with sales 
• Key ideas in Kim\\u2019s book How to F*ck up Your Startup
• What Kim is currently focused on 
• Networking

About Kim Hvidkjaer:

I am an award-winning serial entrepreneur, WSJ bestselling author, keynote speaker and angel investor, having built companies from startup to exit in several industries.

I started my first company at the tender age of 19 years old, and was as a 29-year-old millionaire, aptly named one of Denmark\\u2019s \\u201c6 Rising Stars.\\u201d

Two years later, after a cluster of f*ckups, I found myself broke\\u2014having lost more money than the average American earns in a lifetime.

I since have rebuilt my fortune through several startups, becoming an expert in failure.

Interviewing dozens of startup founders and studying thousands of collapsed startups, I developed a comprehensive guide to failure\\u2014what it means, what it looks like, and the strategies business owners can employ to avoid it.

Want to learn more? Check out Kim Hvidkjaer\\u2019s website at https://kimhvidkjaer.com/

Check out Kim Hvidkjaer on LinkedIn at https://www.linkedin.com/in/kimhvidkjaer/?originalSubdomain=dk

Check out Kim Hvidkjaer on Facebook at https://www.facebook.com/kimhvidkjaer

Check out Kim Hvidkjaer on Instagram at https://www.instagram.com/kimhvidkjaer/?hl=en

Check out Kim Hvidkjaer on Twitter at https://twitter.com/KimHvidkjaer

Check out Kim Hvidkjaer\\u2019s book How to F*ck up Your Startup at https://kimhvidkjaer.com/book/

Don\\u2019t forget to subscribe to The Thoughtful Entrepreneur and thank you for listening. Tune in next time!

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