108 - Sky Lanterns and Music Festivals: Building a $10M Empire, with Spencer Humiston

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I speak with Spencer Humiston (https://x.com/BowTiedLimeBoss), a lawyer turned entrepreneur who is the founder of Night Lights (https://nightlightsevent.com), a company that organizes sky lantern festivals across the United States. Spencer shares his journey of creating an experiential business, the legal hurdles he overcame, and the surprising pivots he made along the way. We talk about how he expanded his business from sky lantern festivals to a country music festival and a marketing and ticketing company. Spencer also provides insights into the financial aspects of his businesses and the difficulties he has encountered while scaling them.Questions this Episode Answers:How did Spencer transition from a law career to an experiential business?What are the key legal and logistical challenges of running sky lantern festivals?What are the different businesses Spencer has created, and how do they relate to each other?How does Spencer approach marketing, ticketing and pricing for his events?What are some of the challenges and rewards of running experiential businesses?What does Spencer think about the future of the experience-based business space?What advice does Spencer have for aspiring entrepreneurs?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or send me an email at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Highlights & Introduction01:12 Founding Nightlights01:32 Challenges and Misunderstandings02:07 Expanding Ventures02:39 Event Logistics and Revenue03:46 Country Music Festival Collaboration06:38 Launching Great Crowd09:39 Sky Lanterns in America12:04 Logistics and Legalities15:09 Parking and Venue Challenges22:04 The Lantern Crew: Who They Are and What They Do22:57 Ticket Pricing and Sales Strategy23:37 The Backend Team and Operations25:10 Marketing and Revenue Challenges26:04 Event Logistics and Risks30:53 Music Festivals and New Ventures34:05 The Anti-Conference Concept38:25 Advice for Aspiring Entrepreneurs