Wed, 17 October 2018
221: Zero to $9 Million in 4 years: How Chris Peters & Rob Ward Built Quad Lock From a Kickstarter Campaign
Welcome to our newest podcast format, video interviews! You can expect more of this format in the coming months. Subscribe to our YouTube channel here to be notified when we publish new videos.
Today I had the pleasure of sitting down with the co-founders of Quad Lock, a mounting device to securely attach your smartphone to your bike, car, motorcycle, arm or in any situation where you need a hands-free moment. These guys are killing it with $9 million in yearly earnings in only four years!
This was a phenomenal interview, as Peters and Ward gave us 45 minutes of pure gold on how they built a strong brand reputation and high-quality product, how they manufacture their products in China, how they got started as a simple Kickstarter project, and so much more.
They also discuss brand longevity, how to become trendsetters, and how they overcame their biggest scaling challenges. If you want to learn how to build a long-lasting brand and scale your physical-products business, this is an interview you don’t want to miss!
Wed, 10 October 2018
220: Building Community as the Foundation for a Successful Content Business, With Carly Zakin & Danielle Weisberg of theSkimm
Carly Zakin and Danielle Weisberg started their business as good friends on a couch, with nothing but their laptops and a healthy dose of hustle. Today, their millennial women-focused media company theSkimm serves seven million daily subscribers, employs 70 people, and boasts more than 30,000 enthusiastic brand ambassadors.
The company also just closed a round of Series C funding led by GV (formerly Google Ventures) and a group of mainly female investors—including the likes of Shonda Rhimes, Tyra Banks, and Spanx founder Sara Blakely.
Weisberg and Zakin have maintained a close friendship and strong collaboration throughout their six years in business. This dynamic forms the backbone of their company and sets the tone for daily operations, which is largely focused on supporting and empowering women.
In this interview, learn about the early days of theSkimm, the power of community and connection, and how the brand monetizes its content to build a sustainable media business.
The company publishes news that fits into the daily routines of its members, continually nodding to its mission statement of making it easier for people to live smarter, more connected lives. But if you ask us, these powerful founders are the smart ones, effectively proving the mantra, “We are all stronger when we work together.”
Wed, 3 October 2018
219: From Bankrupt to Bestseller: How Mike Michalowicz Used His Own Failures to Empower Other Entrepreneurs
Mike Michalowicz appeared to have everything an entrepreneur could want—big companies and lots of revenue coming in. But things aren’t always as they seem. As Michalowicz was high on fleeting indicators of success, his businesses were leaking profits. “I got caught up in the vanity metrics…how big my business was revenue-wise and how big my business was people-wise,” Michalowicz says.
After feeling the sting of and two failed investments and losing millions, Michalowicz found himself struggling with depression—along with a realization that ignorance and arrogance were a deadly combination. Thankfully, with support from friends and a rekindling of his love of writing, Michalowicz was able to pull himself out of the ashes and rebuild his career—this time with heart and soul.
Michalowicz used writing as a way to find solutions to all of the biggest challenges he faced as a founder. His books Profit First, Pumpkin Plan, and Clockwork tackle managing cash, business growth, and automating a company, respectively. His next book will focus on how entrepreneurs can serve a greater purpose and make an impact on the world.
Listen in and get inspired as Michalowicz gets brutally honest about his own struggles, and shares years of lessons learned to empower other entrepreneurs.
Wed, 26 September 2018
“It took me 10 years [to create my own business], because I didn’t have the courage to start. But I still had this belief that one day I would start it.”
Fortunately for Aytekin Tank and 3.7 million happy users, he ultimately did start that business—JotForm, a profitable online form builder that houses 12 million forms; integrates with Paypal, Salesforce, and Dropbox; and spans two continents.
It took Tank a decade to build that business, but he couldn't care less. In an entrepreneurial climate where rapid growth and risk-taking are worn as badges of honor, Tank considers his slow growth the reason for his strong company culture and long-term success.
Concerned that your wariness or risk aversion hinders your ability to become an entrepreneur? Listen in and get inspired by Tank’s journey. Anything is possible if you just take the plunge and then keep moving forward—no matter the pace.
Wed, 19 September 2018
Scott Belsky, Behance founder, investor, and author of the new book The Messy Middle, is a strong believer in putting in the hard work and then finishing strong. His nine-figure exit from Behance is a testament to this tenacity and determination.
Behance came with its own set of challenges, but Belsky learned over the years that when it seems like things are falling apart, it could mean victory is right around the corner. Your near-meltdown might just be your “messy middle," and sometimes being successful simply means sticking together as a team long enough to figure it out. A labor of love will often work out in the end, even if it's not how you expect.
In this thought-provoking interview, Belsky shares his own “messy middle" from his time with Behance, and some of his best wisdom on product-market fit, perseverance, and startup culture. We were thrilled to get the chance to talk to Scott. There’s a ton of gold in this interview, so don’t miss it!
Wed, 12 September 2018
“Ninety-eight percent of landing pages suck.”
This is exactly what Unbounce founder Oli Gardner declared when he began his public speaking circuit four years ago. A bold statement, but he would know.
As co-founder of the landing page software builder, which pulls in $20 million in annual revenue, Gardner confidently claims he has seen more landing pages than anyone on the planet—nearly 100,000 to be exact. These days, he's leveraging his immense knowledge on the topic to help businesses drive more leads and revenue, through Unbounce and as a speaker.
In this interview, learn about the history of Unbounce, Gardner’s top tips for becoming a better marketer, and his golden advice on how to create a landing page that gets his seal of approval.
ATTENTION: We are excited to announce that Oli has partnered with the Foundr School of Entrepreneurship to teach a powerful course, Landing Page Formula. If you want to learn the principles of conversion-center design and get a step-by-step blueprint on how to construct a high-converting landing page (templates included), Oli reveals his proven framework in this in-depth course. We only offer open enrollment a couple of times a year, for a limited time. Get on the FREE VIP waitlist here to be one of the first we notify when we open.
Thu, 6 September 2018
215: Navigating the Unpredictable Journey From Failure to Triumph, With Stuart McKeown, Co-Founder of Gleam
Stuart McKeown started his entrepreneurial career as a college dropout, had a short-lived stint as a DJ, and then lost thousands of dollars on his first startup attempt. But he's nothing if not persistent. McKeown is now a growth marketing and list-building master and the co-founder of Gleam.io, a growth-focused platform used by more than 20,000 brands a month.
The secret to Mckeown’s success? He never believed failure was something to be feared, but rather a means to gather the information he needed to grow.
In this interview, learn how McKeown overcame his setbacks to build a powerful platform and brand, how he establishes work/life balance for himself and his employees, and his top four tips for running a viral competition.
McKeown may not have become a world famous DJ, but by staying true to himself and striking out fearlessly despite unforeseen obstacles, he has built a brand to be proud of—a gleaming beacon of success.
ATTENTION: We are also excited to announce that Stuart has partnered with Foundr to teach an epic course, List-Building Mastery. If you want a step-by-step strategy on how to explode your email list from scratch, get your first 10,000+ subscribers, and scale to 60,000 and more, Stuart reveals all of his proven strategies in this in-depth, tactical course. We only open enrollment a couple of times a year for a limited time. Get on the FREE VIP waitlist here to be one of the first we notify when we open.
Thu, 30 August 2018
214: Nailing Product-Market Fit and Building a Successful Startup, With Legendary VC and Wealthfront CEO Andy Rachleff
Andy Rachleff is not just a product expert; he literally coined the term “product-market fit.”
Wealthfront CEO, former VC backing companies such as eBay, Uber, and Twitter, and technology entrepreneurship instructor at the Stanford Graduate School of Business, Rachleff has a wealth of knowledge on creating and scaling powerful companies. I was excited to have the chance to pick his brain on everything from product-market fit, to how he started his company Wealthfront, to how he hires the best of the best to join his team.
In this interview, you will gain access to a true master, who has enjoyed a long career of investing in legendary companies and now gives back to today’s entrepreneurs and investors. Rachleff started his company Wealthfront, an automated investment service that manages $11 billion in assets, as a way to perform a social good by democratizing sophisticated financial advice. In our discussion, he was kind enough to divulge some of his wins and losses and top lessons learned in his storied entrepreneurial career. Enjoy!
Key Resources From Our Interview With Andy Rachleff
Thu, 23 August 2018
You may know former Moz CEO Rand Fishkin from his characteristic curly mustache, Whiteboard Friday videos, or his SEO mastery. But this interview isn’t about linking, Google rankings, or gray-hat practices. Or mustaches.
In our chat with Fishkin, he opens up about his battle with depression and how it has shaped his past decisions and guided his current ventures. He sympathizes with the many entrepreneurs who have also succumbed to loneliness and wondered why their business success wasn’t enough to make them happy.
Fishkin also talks about his new book, Lost and Founder: A Painfully Honest Field Guide to the Startup World. In it, he shares the conversations entrepreneurs have about their challenges and hardships, whether personal or in their businesses. Fishkin also shares details on his new software project and why he decided to venture into another startup.
If you want to be inspired, encouraged, and take away some great advice from a long-time founder, don’t miss this interview. We hope you find it as moving as we did!
Thu, 16 August 2018
We are always blown away by the success stories within the Foundr community, and we take every opportunity we can to shine the spotlight on them.
In today's podcast, I am thrilled to present to you three of our Start & Scale ecommerce course students who are absolutely crushing it! I got to sit down with each one and ask them how they got started with their businesses, what challenges they faced, and what successes they are now enjoying.
You will hear from:
Adam is the founder of men’s personal care product line, Ball Wash. Adam started his ecommerce journey only eight short months ago and has already made more than $1 million in revenue.
Shamanth is a busy mother who created a new leggings product, and put it to the test with a pre-sale Kickstarter campaign. In a short time, she received nearly £50,000 from more than 1,500 backers. Shamanth is in the process of fulfilling those orders and putting her shop online full time.
Monique and Chevalo Wilsondebriano
Monique and Chevalo run Charleston Gourmet Burger, which was already a $200,000-per-month business, but had yet to reach its potential in online sales. Their goal was turn their website into an online store so they could generate more sales. In two months, they earned nearly $22,000 and attracted 9,110 visits to their website.
We couldn’t be happier for these guys and are proud to be part of their journeys. Please join me in congratulating them. Way to go!
Thu, 9 August 2018
While he always had a passion for entrepreneurship, Shane Snow started his career as a freelance journalist, and during that time noticed how many of his peers were struggling to market themselves and find work. This frustration fueled his desire to develop the global content marketing platform, Contently. Contently is a unified content marketing solution for the world’s biggest enterprise brands, and it’s also a tremendous source of income for creative freelancers. By Snow’s best estimates, Contently has paid out more than $46 million (and counting) to freelancers around the globe.
As successful as his time at Contently has been, Snow never stopped being a writer at heart, and now he's back at it. He recently hired a CMO for Contently and became “founder-at-large,” relieving himself of the day-to-day management and freeing up his time to reunite with his first career love.
Today, you can find Snow promoting his soon-to-be-published book, Dream Teams, and otherwise sharing his expertise on team building and storytelling for founders. In this interview, Snow shares his journey to the top of the entrepreneurial mountain and back home again, along with his best advice learned from a seven-year reign at Contently.
Key Resources From Our Interview With Shane Snow
Thu, 2 August 2018
210: How to Create a Multimillion-Dollar Software Product the Market Actually Wants, With Crazy Egg’s Hiten Shah
Hiten Shah has a killer track record when comes to creating software products. He and his co-founders have built several multimillion-dollar releases, including Crazy Egg and KISSmetrics, and many of their features were the first of their kind to hit the industry.
It might seem like Shah has stumbled onto a secret formula for software-building success. But to him, it’s simply a matter of creating what his audience wants. Solving a problem is the biggest determinant of a software’s success, and Shah builds this methodology into every new piece he creates.
In this informative interview, Shah shares the details behind his process, from planning the software build and ensuring a market fit, to hiring the right people to bring it to life. As an avid mentor and advisor, Shah also answers our own, real world questions about future software builds for Foundr. Listen in and get inspired!
Thu, 26 July 2018
209: How Two Fintech Entrepreneurs Found Stable Ground in a Volatile Space, With CoinJar’s Asher Tan and Ryan Zhou
It only took six hours for Asher Tan and Ryan Zhou to put together the incubator pitch for CoinJar, a vision for a next-gen personal finance account that would capitalize on the growing interest in bitcoin and other digital currencies.
Five years later, CoinJar is a leading digital currency platform in Australia and the self-proclaimed “fastest way to access your money from anywhere in the world.” CoinJar’s users can spend, send, and trade their bitcoins, dollars, and pounds globally.
Despite the major challenges that come with scaling in a global market, the company has been profitable for the past three years. In this insightful interview, these brave founders share how they overcome scaling challenges, their next products to hit the market, and their top tips for entrepreneurs interested in creating fintech startups. Enjoy!
Thu, 19 July 2018
208: How a Charitable Mission and Influencer Marketing Sparked Massive Growth, With Griffin Thall of Pura Vida
For Pura Vida co-founders Griffin Thall and Paul Goodman, a chance meeting with two Native jewelry artisans on a beach in Costa Rica sparked an idea that would forever change their lives. They're now running a rapidly growing brand that not only inspires tremendous customer loyalty, but also promotes products that give back in a big way.
Pura Vida (which means “pure life” in Spanish) has grown rapidly since its inception, but this isn’t the brand’s most appealing aspect. Customers also love the company, because it has provided sustainable jobs to 350+ jewelry artisans worldwide, and donated more than $1.5 million to charities using proceeds from its products.
In this inspiring interview, learn how Pura Vida has leveraged influencer marketing and social media to spread its brand message and create a global movement of loyal customers. Matching creative social strategies with a passionate mission has made this brand a massive success and we are proud to feature them. Way to go Pura Vida!
Thu, 12 July 2018
I’m excited to share a very special interview with you today! Mitchell Harper has been my long-time mentor and coach and a driving force behind Foundr’s success. I’m thrilled to share his story with you so you can glean some entrepreneurial gold from his experience.
Harper started his entrepreneurial journey as a software developer, building games as early as 12 years old. He built his first businesses in his teens and sold his first company around the time he graduated high school.
Partnering with another developer in 2003, Harper created Interspire, a suite of software tools for businesses, and grew it to $10 million in revenue in four years. The company eventually became BigCommerce, now one of the web's premier shopping cart platforms. BigCommerce has raised $250 million in its short lifetime, recently hit $100 million in annual recurring revenue, and the company is still growing.
While his big career wins might suggest otherwise, Harper says he is risk-averse and doesn’t believe entrepreneurs need to be big risk takers to achieve high levels of success. He prefers taking the safe route and reveals his strategies for building high impact, low-risk businesses. In this inspiring interview, Harper also shares how he battled with depression and what his journey to wholeness taught him about work/life balance.
I’m so privileged and lucky to have Mitch as a mentor and to introduce him to our Foundr family. Please listen in and get inspired by the man who has been an integral part of Foundr’s success!
Thu, 5 July 2018
Lynda Weinman sold her 20-year company Lynda.com to LinkedIn for $1.5 billion. What is she doing now? She is reinventing herself and enjoying her new role as a champion of independent film.
Weinman is no stranger to the concept of reinvention. In fact, it's that very spirit of constant evolution that led her to become a trailblazer in the online education space, and to ultimately make a massive exit.
Her journey started with a career in animation and special effects, of all things, and even included running a punk store on L.A.’s Sunset Strip. She continued to pivot, until her creative endeavors eventually led her to education, and a business model that allowed her to teach thousands of laypeople about complex tech topics.
The company started as a brick-and-mortar classroom, but after the economic decline that followed the tragic terror attacks of September 11, 2001, Weinman was forced to take Lynda in a new direction. To weather the economic storm, she transitioned to the online subscription business model of Lynda.com.
Lynda.com’s growth was slow going until social media gained ground in 2006, a movement that helped catapult her company's revenue to $40 million and beyond. Even though Weinman never thought about selling, when the offer came in, she knew she had to pull the trigger
Working relentlessly on Lynda for the past 20 years and now in her early 60s, Weinman has set her sights on a new course. She's now the president of the Santa Barbara International Film Festival and invests in independent filmmakers using charitable grants. In this interview, Weinman shares the journey that led to her $1.5 billion exit, how and why she has continued reinventing herself, and her top advice for entrepreneurs.
Thu, 28 June 2018
A health crisis that landed Munjal Shah in the ER turned out to be the catalyst for his next mission: making the world a healthier place.
Then the chest pains started. Shah wound up in the ER, and while it didn’t end up being a heart attack, the incident was a sobering reminder that his own father had had one while in his 40s. It was a wake-up call for Shah, who was 37 at the time. He started focusing on his health, lost 40 pounds, and decided his next entrepreneurial endeavor would make the world a healthier place.
“People always say, ‘Go find your mission,’” Shah says. He’s now the founder of a new and growing insurance startup called Health IQ, which encourages healthy behavior by taking a data-driven approach to its coverage. “I would say my mission found me.”
Thu, 21 June 2018
204: Taking the Road Less Traveled to Build the Business of Your Dreams, With Mike Dillard of Self Made Man
In business, in life, and even behind the wheel of his actual race car, Mike Dillard goes from zero to 60 in the blink of an eye.
In stark contrast to his calm voice and introverted nature, Dillard is a pioneer willing to crash through boundaries and challenge common wisdom. He just prefers to do it through the written word, rather than grand speeches or face-to-face encounters.
The core principle driving Dillard’s pedal-to-the-metal attitude? He deeply believes in the power of one person to change their community, their industry, and maybe even the world. “I approach life with a core belief that anyone can accomplish anything,” his website bio reads. “That not only can one man or woman make a difference, but that it’s one man or woman who always makes the difference.”
Thu, 14 June 2018
203: The One-Two Punch for Sustainable, Consistent Startup Growth, With Dmitry Dragilev of JustReachOut
Dmitry Dragilev has a typical entrepreneurial story, but maybe a little more extreme. Bored in his dead-end, corporate job, he was fearful of ending up like his older, unsatisfied peers. One day, Dragilev read in a magazine about what was going on in Silicon Valley, and up and quit.
He sold everything he owned, hopped in his car, and made his way to California. Equipped only with a knowledge of coding and a drive to succeed, Dragilev had made a decision that changed the rest of his life.
Thu, 7 June 2018
The Comeback Kid
In 2013, Eric Siu bought a failing SEO agency for two dollars. Today, he’s built it into a digital marketing powerhouse that serves giants of the tech industry.
These days, Eric Siu rubs elbows with the internet marketing elite, hosting a popular podcast with online guru Neil Patel, and leading the successful agency Single Grain, which boasts clients like Uber, Amazon, and Salesforce.
But go back about six years, and Eric Siu was just a 25-year-old new hire entrusted with the monumental task of saving a tanking company.
“A month into it, the CEO pulls me aside,” Siu recalls, “and he's like, ‘Eric, you know, 48 people, their families, they're riding on your shoulders right now, and if you can't hit numbers in the next month, we're gonna have to let you go.’”
Siu had taken a job leading the marketing for education startup Treehouse. He loved the product and the team, but he had no idea the revenues were stagnant. It hadn’t hit its numbers goals in the last two years, and when Siu came onboard, the company had only five or six months of cash left in the bank.
“I was like, ‘Oh, damn. We're gonna go down, and it's me that's kind of responsible for revenue growth because it's a subscription-based product.’”
After seeing some traction on Treehouse’s YouTube account, Siu took a gamble and put all the company’s budget into YouTube advertising. This was 2012, and Facebook ads hadn’t quite taken off. And for Treehouse, which teaches video courses on coding and web design, YouTube was a natural fit. Siu began bidding on promising keywords, and the team created an inspirational video ad inspired by Apple’s slick aesthetic.
“We just started cranking out a bunch of sign-ups that way,” Siu says. “The price point wasn't that bad, and so things started to really blow up there.”
From there, Siu fired their PR agency and started working with one that was paid for performance. By the time he left Treehouse, Siu says he’d helped take the company from about 500 new subscribers a month to between 3,500 and 4,000. Now, Treehouse sees $15 million in annual revenue, according to a March 2018 Mixergy interview with CEO Ryan Carson. “So they're fantastic now,” Siu says. “They're just building on top of everything that they're doing.”
That may sound like an exceptional comeback, but it was only the beginning for Siu. From there he embarked on a career of getting into tight spots, taking risks, sometimes failing, and then making comebacks, all culminating in the success of his digital marketing agency.
Lose Money Now, Make Much More Later
It’s important to note that, while Treehouse was bringing in more customers, it wasn’t profitable in the short term. That gets to an important concept that Siu believes isn’t talked about enough, but has been an important one in his work to breathe new life into companies—the payback period.
They payback period is the length of time required to recover the cost on an investment. According to Siu, mastering the payback period can mean the difference between a quick, small ROI, and building a company with a huge payday.
For SaaS businesses, payback period tends to be long, with some companies not breaking even on an investment until 18 months out. But if they look at the long term, they know they can make back way more than that initial investment if they’re patient, understand the lifetime value (LTV) of a customer, and know their numbers well.
In episode 551of their Marketing School podcast, Siu and Patel talk about the difference between seven-figure versus nine-figure businesses. Seven-figure businesses want a return on investment right away. Nine-figure businesses, however, are willing to lose money at first because they know the lifetime value of their customers.
Siu points to ClickFunnels as a great example of how understanding payback period can pay off in the long run. The marketing funnels software company is completely bootstrapped and reached $60 million in annual recurring revenue in 2017.
“The reason they're able to do that is because they have their numbers locked down,” he explains. “They are willing to perhaps even break even or lose money on the front end, right? So let's say when they first acquire an email or even a free trial in the beginning, they're going to lose money, but they know that their funnel in the backend is so locked down that they can upsell people on, you know, their mastermind or other bundles, things like that.”
Siu gives a hypothetical example too: Let’s say it costs you $1,200 to acquire a customer who pays $100 a month. The payback period, then, is 12 months. But if you can find a way to increase that price to $300 a month, you’re looking at a payback period that takes one-third the time. With the extra cash from the monthly recurring revenue of that customer, you can reinvest in your company to grow it faster. That’s why Siu emphasizes the importance of getting your pricing right. In fact, he says if he could go back to his Treehouse days, he would increase prices.
The Single Grain Salvage
Before he even hit the one-year mark with Treehouse, Siu set his sights on the next rescue mission: a failing SEO agency where Neil Patel was a partner. Armed with the marketing chops he honed at Treehouse, Siu was up for the challenge.
“But going to a company that I thought had a lot of problems,” he says, “that I thought was a house of cards, that I thought was going to be in big trouble—that was a different challenge.”
And even though he wasn’t thrilled to return to the agency world, the gamer in Siu saw it as a fun opportunity. “I thought the challenge of saving a stagnant company was really interesting because...I just see every challenge as, like, the game, right? It's just fun to play.”
At the time, Single Grain was an SEO agency with four partners. When Siu came onboard, he says the company was doing about $1.1 million a year, relying completely on SEO services, mainly link building for clients. But then the Google Penguin update happened, decimating Single Grain’s efforts.
“The work that the company was doing was no longer having an effect,” Siu says, “so customers just started churning left and right, and that's when we had to basically make a change. And that's when I popped in.”
But Siu had his work cut out for him. This time around, it wasn’t just marketing. He was in charge of operations too, and the company needed to get some processes in place. “Basically, when I came in, everything was on fire.”
Siu had to lay some people off because their roles were no longer relevant after the Google update. He then turned the company’s efforts to content marketing as the next logical step. Upon a recommendation, he hired a head of content marketing, which ended up being a mistake.
“This person was actually really toxic and caused four of our clients to leave,” he says. After that, two employees quit and morale was low.
Even though things had gone from bad to worse, Siu hung on.
The $2 Buyout
So let’s take stock of just where Siu was at in 2013: He was hired to resuscitate a dying company, he had to lay off employees, he hired the wrong person for a key role, his employees’ morale was low, and oh yeah, he had to take out a personal loan just to make payroll.
“I didn't know what the hell I was doing,” Siu says. “And I think a lot of times when it comes to business, or just when you're starting out, honestly, I think it's okay to say you don't know what you're doing.”
And then, leadership started to cave. One of the partners admitted to Siu that he wanted out, and the other three agreed that the company was worth nothing. While this easily could’ve been the end of Single Grain, Siu had an idea.
“I said, ‘Hey, guys, I will buy the company, I’ll take on the load, I'll put it on my shoulders, I'll see what I can do with it.’”
He offered one dollar to Neil Patel and one dollar to another partner, for 10 percent of their shares in the company. The other two partners, he offered to pay with profits from the company.
“So it's a buyout, but the contingency is if the company fails, I will owe nothing. So we signed that agreement, got it done, and it was off to the races,” Siu says.
He had his work cut out for him, as the company was in the negative when Siu took over; plus, its source of leads, Neil Patel, was now gone.
Meanwhile, as everything seemed to be falling apart, Siu continued to try to grow a podcast, Growth Everywhere,spending six hours a week recording and producing the episodes. One year into it, he was getting only nine downloads a day. But again, he powered through.
“Here's the thing,” he says, “you just keep going, right?” Now Growth Everywhere gets up to 80,000 downloads a month. Plus, it turned out to be a great lead generator for Single Grain.
Slowly but surely, Single Grain began gaining leads through organic search. Siu decided to refer those leads out and worked out referral deals with agencies, getting 25 to 30 percent of the lifetime of each customer. Siu says the referral income generated about $250,000 to $300,000 a year, but he wasn’t satisfied. “The kind of competitive spirit in me is like, ‘Okay, I wonder if we can build this thing up to be a paid advertising agency.’"
So Single Grain started experimenting with taking on its own clients and noticed retention went up, and clients were happier. Traffic was coming in from the podcast, organic search, and speaking events. Today, the company has 34 people working at an office in downtown L.A. The Single Grain website has gone from 4,000 visitors a month to about 80,000, and Siu believes it will reach half a million fairly quickly.
Content Marketing Is King
Take a look at Single Grain’s website, and you’ll see big client names such as Intuit, Amazon, and Salesforce. So what’s Siu’s secret for snagging premium clients? “Every single client that we have, whether it's a Uber or Lyft or TrustPilot, or whatever it is exactly, all came from content marketing.” In fact, up until recently, Single Grain didn’t even have an outbound team.
In the past, Siu says people from his management team have challenged him on the amount spent on content marketing, asking to see the ROI. So he did a breakdown of each client to see where they came from: podcasts, organic search, relationships Siu built up with people, and speaking opportunities. “It was all basically content marketing.”
When clients come through inbound or content marketing, Siu says, the sales cycle is much shorter than with outbound. Instead of waiting months for a deal to close, the time is cut down to weeks. In addition, the lifetime value of that client is longer, because after reading your blog posts, listening to your podcasts, and watching your videos, they feel like they know you. That leads to a longer-lasting relationship.
Another note Siu adds about client acquisition is that it pays off to specialize. At first, Single Grain focused on paid advertising for SaaS and education companies. They were able to boost their prices based on their specialty and proven framework.
“If anybody's trying to sell anything,” he explains, “when people ask you how you're different, the more you can niche down, at least in the very beginning, the more you can charge premium prices and the more you can focus in and maybe grow faster.”
Most of the employees at Treehouse were remote, so when Siu took over Single Grain, shutting down the San Francisco office and transitioning to a remote company seemed like a no-brainer. But as Siu puts it, it’s one of the “massive mistakes” he made.
Without having built up a rapport with his team and without understanding the relationships they had with each other, Siu says he shouldn’t have made an executive decision of that size, especially without asking for team input. “That totally devastated the culture, in my mind,” he says. “And I think when it comes to a services-based business, like this, where it requires a lot of creativity and collaboration, it's tough to have a completely remote atmosphere.”
So Siu shifted to a hybrid method: He and the team work in the office three days a week and remotely two days a week. “I just know that when we're in the office…we can just get so much done that way.”
To maximize productivity, Siu uses these two tools:
In addition to those tools, Single Grain has one-on-ones, as well as traction meetings with each team. “That's helped make us into a well-oiled machine,” Siu says, “and everyone's much happier now.”
Eric Siu’s Tips for Hiring Great Talent
When it comes to tapping into new talent for the team, Siu’s got a process worked out for that too.
Leveling Up: What’s Next for Single Grain
Never one to slow down, Siu’s already working on his next big projects. Right now, Single Grain is working on a SaaS product called ClickFlow, which helps companies get more organic traffic by boosting organic click-through rates.
On top of that, he’s writing a book, entitled Leveling Up as a nod to his competitive gaming days. “I just see this entire thing as a game,” he says. “Just plugging things together, making systems work, making it all happen.” Once the book is ready, he hopes he can use it to educate people on marketing and maybe even recruit talent to his agency or others. Siu also plans to do more live events and add an education component to his company.
“I think it all kind of plugs in together,” he says. “And I think the ultimate goal is just to give back and invest in education, because that's what I love.”
Thu, 31 May 2018
201: Zero to $10 Million in 4 Years: How King Kong’s Sabri Suby Went from Work-at-Home Consultant to Booming Agency Founder
To Sabri Suby, business is a jungle and only the strong survive. To be successful, you need to dominate the digital landscape and crush the competition into a fine powder. That fierce attitude has served Suby, and his clients, very well over the years.
Suby is the founder of King Kong, the fastest-growing digital marketing agency in Australia. Last year, King Kong raked in $7 million in revenue from its digital marketing campaigns, over $200 million in sales for its clients, and this year, is aiming to top that.
Hustling since he was a teen, Suby learned how to sell early on. Making a whole lot of cold calls over the course of his life, he never let up. Starting King Kong in his bedroom on his girlfriend's laptop, Suby preferred to jump into the trenches and get his hands dirty instead of wasting time reading business books and attending events. That unrelenting approach definitely paid off.
Listen in as Suby discusses why his agency scaled to millions in revenue so quickly, how to dominate direct response marketing, and why a service-based business should be the top choice for entrepreneurs.
ATTENTION: Suby has partnered with Foundr to teach an epic new course, "Consulting Empire.” If you want to learn how to start and scale a service-based business, whether you are a consultant, coach or freelancer, Suby reveals all of his golden strategies (the exact ones he used to scale from zero to $10 million) in this new course. It’s just about ready so get on the free VIP waitlist here to be one of the first we notify when it launches!
Thu, 24 May 2018
200: Foundr’s Story: How a Humble Side Project Became a Global Brand, with CEO Nathan Chan [Special 200th Episode]
I refuse to lose.”
It's the mantra that has guided Foundr CEO Nathan Chan through the highs and lows of becoming an entrepreneur. It helped him resist the naysayers, and confront deep insecurities and self-doubt, to build the business he fell in love with right away. That sense of determination and drive continues to fuel Foundr’s big goal of impacting tens of millions of entrepreneurs around the globe with world-class resources and training.
In this inspiring interview, Nathan gets up close and personal and takes us behind the scenes of what it was like starting Foundr—the good and not so good—and the many lessons he learned along the way. Interviewed by Dave Hobson, our head of product and business development and one of the first to join the Foundr team, the two reminisce about the early days, the first goals the company set, and the memorable moments that transformed the company from a side hustle to global presence.
Pull up a chair and a drink (Does Nathan prefer wine or beer? Find out in this interview!) and learn more about Foundr, how the company started, and where it is headed in the near future. Nathan shares it all in this special 200th podcast episode. We promise you this is an interview that will inspire you for many years to come.
Thu, 17 May 2018
As a lifelong, accomplished dancer, Payal Kadakia never thought she would become an entrepreneur. But it was that very love of dance that compelled her to help others pursue or rekindle their own passions.
Driven by a strong desire to create something with potential to change people's lives, Kadakia created ClassPass, a platform that helps fitness and dance enthusiasts find and book classes in 8,500 studios in 50 cities around the world. Kadakia has appeared on prominent lists such as Fortune’s Most Promising Women Entrepreneurs and Marie Claire’s Most Influential Women in America, and ClassPass has been ranked among the fastest-growing technology companies in North America.
It may sound like Kadakia effortlessly glided from performing arts to business, but her seven-year journey was full of setbacks. She overcame several problems and had to pivot twice to stay afloat and then thrive.
In this interview, Kadakia explains how she turned her personal passion into a successful business, including the importance of partnerships and how being “mission-obsessed” instead of “product-obsessed” fueled her growth. She also discusses the power of purpose in entrepreneurship and the principles of real perseverance.
Thu, 10 May 2018
198: How This Breakdancer Built a 6-Figure Instagram Business and Travels the World for Free (Instagram Domination Student Spotlight)
In today’s podcast, we are shining the spotlight on one of our successful Instagram Domination students, Zach Benson. This driven entrepreneur is in the trenches daily doing what it takes to make his startup dreams (and travel dreams) a reality. And he’s done a great job. We couldn’t be prouder!
Benson was a former professional breakdancer who suffered an injury that ended his dance career. Looking for a “plan B,” he turned to Instagram and joined the Instagram Domination course to learn how to build his personal travel pages and drive valuable traffic. He’s done so well, that in the last 18 months, 170 exotic hotels have given him free stays in exchange for exposure to his network, and he is on track to hit $1 million in revenue.
But, the real magic happened when Benson partnered with a few Instagram Domination students and started an agency to help people grow and manage their Instagram accounts. The agency, Assistagram, has worked with high-profile clients such as The Four Seasons and Ritz Carlton and currently services 50 other companies.
Benson is grateful to the Instagram Domination community for allowing him to connect with like-minded people and create a thriving business fueled by his passions for travel and social media. We are so happy for him and the success he has achieved. Way to go, Zach!
Thu, 3 May 2018
197: Technology and Tacos—From Fired Facebook Employee to Eight-Figure Founder, With Noah Kagan of Sumo
At 24 years of age Noah Kagan got tired of being fired. After getting the boot from Facebook and other companies, Kagan decided to create his own job and live life by his own rules. Those rules included posting taco-loving blogs, shooting over-the-top YouTube vids and creating Sumo, an eight-figure global company that empowers business owners to grow their brands using cool, geeky software tools.
Kagan likes to make business exciting and embraces the madness of entrepreneurial life. But aside from his contagious energy, he has a lot of knowledge and loves to help entrepreneurs. In this interview, he shares the lessons he learned building an eight-figure company and his top tips for hiring and maintaining A-player teams.
Kagan also stresses the importance of building relationships in this “era of Tinder-ization,” and teaches entrepreneurs how to set and track intentional goals to drive companies forward. Throw back a few (drinks or tacos) and listen in as Kagan shares his life and business adventures and helps entrepreneurs build and market profitable businesses.
Thu, 26 April 2018
196: Fueling Massive Growth by Adopting a Culture of Experimentation, With Dan Siroker Of Optimizely
Dan Siroker has always believed in the power of data and experimentation. A former project manager at Google and director of analytics under President Barack Obama, Siroker believes that experimentation should be one of the highest-order cultural values of an organization. To that end, Siroker co-founded Optimizely, a globally adopted software tool that enables businesses to experiment and fine-tune their businesses based on data.
From product development to front-end conversions, Siroker believes that a culture of experimentation should start from the top and trickle to the bottom, fueling growth on a large scale. Otherwise, organizations that are too afraid of risk and intolerant of failure end up undermining their ability to innovate.
In this interview, Siroker shares his strong belief in the power of experimentation, and how startups can use data to their advantage, now more than ever. He also shares one of the biggest lessons he's learned in his entrepreneurial career, and how he is building a 100-year legacy with his company.
Thu, 19 April 2018
Growing up as a fanatical skateboarder first in Ohio and then moving to California as a teen to pursue skating professionally, many of his friends and fellow skateboarders were older than him and running their own businesses.
From a very young age, he was steeped in skateboarding’s DIY culture, always on the lookout for the next frontier in the sport, or scrappy new brand to emerge from the scene. From skate shops to clothing companies, Dyrdek was exposed to a variety of entrepreneurial ventures early in life.
Thu, 12 April 2018
From Zero To $20 Million, A Story Of Courage And Relentless Discipline, with Steve McLeod of Fire And Safety Australia
Former firefighter Steve McLeod turned his passion for helping people into a nationwide business, scaling his Fire and Safety Australia company to eight figures in 10 years. In addition to running a profitable company, McLeod also empowers entrepreneurs by teaching them how to become more courageous and run goal-focused businesses that never give up.
According to McLeod, it takes courage to protect and serve, especially when danger could be present at every turn. But it takes another kind of courage to withstand the pressures of entrepreneurship to build and scale a $20 million dollar company.
In this inspiring interview, McLeod discusses his latest book, Courage for Profit, and reveals some of the gold he has learned from his own struggles, successes, and failures. He outlines the key principles entrepreneurs need to embody if they want to scale their businesses. We salute McLeod for his passion for serving and helping people. Way to go!
Thu, 5 April 2018
Gary Muller’s company is thriving. His Mill House Inn in East Hampton, New York has been in business for 20 years and recognized by Travel + Leisure and the Travel Channel, highly rated by Zagat, and featured in other prominent publications. His properties have welcomed celebrities and prominent people from all over the world.
If you ask Muller the secret to his success, he'll likely tell you that his family is largely responsible. "Family" is how Muller describes his employees at the inn, and he believes all leaders should treat team members as such, displaying empathy, instilling trust, and creating an environment where going “above and beyond” is a daily occurrence.
Muller is in the people-helping business. Whether that means serving his cherished guests or connecting with his work family, his care for other people runs throughout his unique leadership style. Learn how Muller has grown such a loyal and dedicated team, and how he fosters a work culture that has led to massive business success.
Thu, 29 March 2018
192: Best of Foundr: Gary Vee, Tony Robbins, and More Talk Hustle, Mindset, and GSD (Foundr 5th Birthday Special Episode)
Welcome back to our “Best of Foundr” podcast series!
To celebrate Foundr’s 5th birthday, we put together a series of special edition podcast episodes that feature the best snippets from our most popular episodes. We pulled out the gems from each of your favorite interviews and compiled them into a three-week series of pure content gold.
This week we are focusing on hustle, motivation, mindset, and getting shit done! In this episode, we have one of my heroes and the king of hustle, Gary Vee. We also have memory and productivity wizard Jim Kwik, morning routine master Hal Elrod, and the mindset king himself, Tony Robbins!
While I have loved the releases in this special birthday series so far, I have to say, we saved some of the best for last. In this episode, you will be challenged and motivated to seriously move to the next level!
Thu, 22 March 2018
191: Best of Foundr: 4 Superstars on Investing, Sales, And Scaling Your Business (Foundr 5th Birthday Special Episode)
Welcome to our special “Best of Foundr” edition of the podcast!
To celebrate Foundr’s 5th birthday, we put together a series of special edition podcast episodes that feature the best snippets from our most popular episodes. We pulled out the gems from each of your favorite interviews and compiled them into a three-week series of pure content gold.
This is the second week of our three-part series. Last week, we heard from four successful entrepreneurs on how to build an epic online presence.
This week we are focusing on investing, sales, and scaling your business. You will be learning from two masters of sales, Ben Chaib and Matthew Kimberley; from the shark himself, Robert Herjavec, on investing and scaling your business; and lastly from Mr. E-Myth himself, Michael Gerber, on setting your business up to scale.
These are some of my personal favorites that have had a huge influence on how Foundr is run today! Enjoy listening to the best of the best!
Thu, 15 March 2018
190: Best of Foundr: 4 Superstars on Building An Epic Online Presence (Foundr 5th Birthday Special Episode)
Welcome to our special “Best of Foundr” edition of the podcast!
To celebrate Foundr’s 5th birthday, we put together a series of special edition podcast episodes that feature the best snippets from our most popular episodes. We pulled out the gems from each of your favorite interviews and compiled them into a three-week series of pure content gold.
This week we are focusing on how to create an online presence with content marketing and Instagram. We are featuring some serious advice from our conversations with Gretta Rose van Riel, queen of Instagram and Influencer marketing; Darren Rowse, the OG of the blogging world; Deonna Monique, Instagram millionaire; and content king Derek Flanzraich, founder of Greatist.
Enjoy listening to the best of the best!
Thu, 8 March 2018
189: Foundr Community Member Shifts His Business Into High Gear With Help From Mentors [Foundr’s 5th Birthday Special Episode]
Welcome to Foundr's fifth birthday celebration!
Over the past five years, we’ve been blessed to interact with an awesome community of passionate entrepreneurs who are making it happen and turning their dreams into reality. We want to honor these inspiring entrepreneurs in our community by sharing their stories and highlighting their successes.
In today's special episode, we talk with Austin Peterson, a rising entrepreneur who is working in the trenches daily to build his vintage truck restoration business Black Dog Traders.
Austin reached out to me for advice in early 2017, and it's been amazing to watch him build his business to new heights. In this episode, we're airing a one-on-one coaching session with Austin and mentor David Brim, founder of Tomcar Australia, who is helping him take his business to the next level.
In this episode, get the inside scoop on the advice that is helping Peterson optimize his production, streamline his processes, and continue to scale his company in the coming year.
Well done Austin! We look forward to your continued success!
Thu, 1 March 2018
“I’m not crippled with being perfect. I’m crippled with not doing,” Gary Vaynerchuk says, and that about sums up the philosophy that propels him ahead in life and business—avoiding hesitation and seizing the moment at all costs.
To many, Vaynerchuck (aka Gary Vee) needs no introduction. He’s a serial entrepreneur, four-time New York Times-bestselling author, venture capitalist, popular podcast host, and sought-after public speaker serving an audience of millions. And he's showing no signs of slowing down.
How does this guy accomplish so much? Vaynerchuk doesn’t agonize or hesitate when starting something new. He dives in voraciously, working his ass off and learning as he goes. He also never aspires to "have it all." Too often, entrepreneurs strive for some lofty material goal as the finish line, but for Vaynerchuk, having it all begins on the first day we embark on our entrepreneurial journeys. The reward is in the process itself.
In this interview, Vaynerchuk shares tidbits from his new book Crushing It! (an updated version of his 2009 bestseller), unpacks epic branding and marketing tips that have led to his success, and reveals his personal philosophy on GSD.
Gary Vee wants aspiring entrepreneurs to crush it with him. Are you on board? Listen in and get inspired.
Thu, 22 February 2018
- Acumen's trailblazing vision on global poverty eradication
Fri, 16 February 2018
186: TaskRabbit Was Ahead of its Time, But Leah Busque’s Vision and Persistence Made it a Game-Changer
No Task Too Big
Leah Busque launched TaskRabbit and became a pioneer in the sharing economy. Now she wants to empower other founders as she transitions to venture capital.
Picture this: You’re sitting at home on a February night in Boston, where winter temperatures dip well below freezing, and it’s snowing outside—not exactly a good time to find out your hundred-pound Labrador retriever is out of dog food.
So what do you do? Do you don your boots and trek through the snow in pursuit of kibble? Do you ask your spouse to do it? To a 28-year-old Leah Busque, the solution should have been simple: Why not hire someone in the area to run that errand for you?
“[My husband and I] were certain that there was someone in our neighborhood that'd be willing to help us out,” Busque recalls. “Maybe even someone at the store at that very moment, and it was just a matter of connecting with them.”
After some geeky brainstorming with her husband, Busque grabbed her iPhone—it had come out a few months before—and bought the first domain that came to mind: RunMyErrand.com. Four months after that, she left her job as a software engineer at IBM and locked herself in her house for 10 weeks to build the first version of the site, all because a service she wanted didn’t yet exist. Thanks to Busque’s creativity and persistence, now it does—TaskRabbit.
Think Big, Start Small: From Back Bay to the Bay Area
In September 2008, RunMyErrand launched in the Boston neighborhood of Charlestown, where Busque was living at the time.
“I was very targeted,” she says. “[I] really wanted to focus on one geography and create a peer-to-peer-network in that geography that was liquid, that would have high supply and high demand … and from there it just really started to snowball.”
Word traveled fast. People in Charlestown started telling those in Beacon Hill about this new service that let you hire locals to run your errands. Word traveled from Beacon Hill to the residents of Back Bay and Cambridge. Soon enough, Busque was recruiting Taskers from all over the city of Boston.
By the summer of 2009, Busque was invited to participate in an incubator program run by Facebook, leading her to change the name from RunMyErrand to TaskRabbit before launching in her second market—San Francisco.
A Pioneer in the Peer-to-Peer Sharing Economy
Here’s how TaskRabbit works:
First, you post a task on the platform (mobile or web), such as, “I need help mounting a 32-inch flat screen TV on my wall.” Next, you get matched with vetted Taskers in your area, and you can view their ratings and hourly rates. Then, your chosen Tasker shows up, completes the task, and gets paid securely via the app. A simple enough idea for any smartphone user today, but you have to remember that TaskRabbit launched in 2008; most people were still rocking flip phones, and the term “sharing economy” hadn’t yet made it into the consumer vernacular.
“These technologies were so new and so emerging, it wasn't an obvious thing to be able to utilize your mobile device to connect with people in real time,” Busque explains.
“Certainly, no one was going to jump into a stranger's car off the street and grab a ride with Lyft or with Uber. And so the consumer mindset was completely different. Trust was a big barrier. Letting a stranger into your home to hang shelves, or hang curtains, or clean your house—these were all very big decisions that the consumer was making.”
It’s been almost a decade since TaskRabbit’s inception, and the company’s come a long way from that neighborhood in Boston.
The service has expanded to about 40 markets (including London), raised more than $50 million in venture funding, and last year was acquired by Swedish furniture giant Ikea.
According to Busque, TaskRabbit gets more than 15,000 applications every month from people who want to be Taskers. And on the buyer side of that marketplace, people have hired Taskers to do errands as varied as waiting in line at a store, rushing a passport to the airport, and even retrieving keys from the bottom of a lake.
Knowing When to Quit, and When to Keep Going
As an entrepreneur, it’s important to know when to quit. Failing to realize an idea is a dud can lead to overspending and wasted time. So we had to ask Busque, especially given the novelty of the idea when it first launched: Did she ever feel like giving up?
“I’m not someone who gives up,” Busque says. “I’m not someone who quits.”
Given the dismal economy during TaskRabbit’s early days, one would have understood if she had. When Busque launched the first version of the site in September 2008, subprime lending had tanked the housing market and the stock market was crashing, ushering in the Great Recession—not exactly the best time to be quitting a steady job, or starting a business, or seeking investors. But still, Busque pressed on, choosing to bootstrap her startup for almost a year.
“We had a mortgage on our house and we had bills to pay,” Busque recalls. “We basically did the math and thought, 'We've got about six months where I don't need to work. I don't need to take a salary to kinda make ends meet.'”
When six months came and went and TaskRabbit still didn’t have an investor, it must have been difficult not to close up shop right then and there.
“We were so close though; I felt like I was on the brink of something every day. I thought, ‘I just need 24 more hours, 48 more hours, one more week.’ And so every day was a question [of], ‘Should we keep going? Should we call it?’”
Thankfully, Busque didn’t call it quits. In December 2008, three months after she had missed her self-imposed deadline to raise funding, Busque closed her first angel round of $150,000. That funding was enough to carry her fledgling business through to the end of 2009, when she raised a seed round of $1 million.
As an entrepreneur, it’s just as important to know when to keep going as it is to know when to quit.
Before You Automate, Do it Manually
As Y Combinator co-founder Paul Graham says, “Do things that don’t scale.” In his famous 2013 essay on this principle, Graham writes, “Startups take off because the founders make them take off.”
“I definitely had to do things that weren't going to scale over the long term,” Busque says.
In the early days, for example, Busque could often be found zipping around Boston on her little Honda scooter, completing tasks on her own. “I still am the master TaskRabbit,” she laughs.
That firsthand experience as a Tasker proved invaluable, as Busque got to know her customers and gained a deeper understanding of how her service fit into the marketplace. That willingness to dive in and get her hands dirty proved to be a hallmark strategy for the founder.
“Even as the company developed … I would say one strategy I used that worked pretty well was figuring out how to do things manually first, to really, really understand what to build, how to make it more efficient, and then start to automate layers on top of it over time.”
Take TaskRabbit’s application process, for example. The first version involved an online application, an in-person interview (to start the site, Busque conducted 30 interviews herself over coffee in Boston), and a background check. In total, that highly manual process took three to five days.
“But the time we spent,” Busque says, “for instance, doing in-person interviews, really helped us to understand what was important in finding the right Taskers, in the highest quality, most consistent Taskers. And so we then, from those in-person interviews, would figure out what questions we needed to ask, what the indicators were early that this Tasker was going to perform well on the platform.”
Now? Every piece of that process is automated, and a Tasker can be onboarded in a matter of hours, not days.
How to Get Comfortable With Competition
Every founder knows that sinking feeling of learning a new business similar to yours is entering the marketplace. Maybe it’s why entrepreneurs are notorious for guarding their ideas with intensity, fearing one slip-up will allow a competitor to crush everything they’ve built.
But the fact is, if you’ve got a good idea, someone else is either already doing it, or will be doing it soon.
After nearly a decade in business, TaskRabbit has seen its fair share of competitors. At first, this rattled Busque’s nerves. “I remember early on stressing out a lot about the competition, but I think what I learned over time was that I just needed to stay focused on what we were building.”
What inspired her shift from flustered to focused was seeing so many competitors rush in and then quickly fizzle out.
“I would see competitors come out of the gate, raise multi-millions of dollars, tens of millions of dollars, and burn through it in 18 to 24 months. And so after that happened a couple of times, I just realized that I was going to play a long game.”
What was TaskRabbit’s competitive edge? “From day one, we were producing revenue,” Busque says. “From day one, we had positive operating margins. So for every job that went through the site, we were always making money on it. And we had to be very disciplined about how to build a platform that operated that way.”
She also thinks that too many of her competitors caved to marketplace and investor pressures, something she as a startup founder was not immune to.
“I remember getting a lot of pressure even from my investors at one point in the company's life cycle about growth, about the competitive landscape, pressure to move faster, to copy whatever it was that they were doing, but I knew my business better than anyone.”
Repeat After Her: ‘This Is Not Rocket Science’
Many aspiring entrepreneurs let what they don’t know become a stumbling block to launching their businesses. But for Busque, what she didn’t know, she knew she could figure out. She recalls a conversation she had with herself just before leaving her job at IBM to pursue TaskRabbit:
“I was thinking about all the things that I didn't know how to do. I was thinking, ‘All I know how to do is build this product. I’m a coder; I know how to code. I don't know how to raise money from investors, I don't know how to hire, I don't know how to fire, I don't know how to build a financial model.’ And then I realized that, to me it sounds funny, but I remember saying to myself: ‘This is not rocket science. … Just go figure it out.’”
Busque cites confidence as a key requirement for every successful entrepreneur. “As an entrepreneur, you're doing something that no one's ever done before, and you're going to have to innovate and build new things in new ways.”
Another key entrepreneurial quality? Adaptability. And having gone from engineer to entrepreneur to investor, Busque clearly has that in spades. Though she studied at a women’s liberal arts college, she works in the mostly male tech industry. Though she’s highly analytical and majored in math and computer science, she appreciates the arts and minored in dance.
“The appreciation of those other aspects has really aided me in being able to adapt, and learn quickly, and jump into new situations, and have the confidence that I'm going to be able to figure out and learn whatever I need to as fast as I need to.”
From Founder to Investor
In 2016, Busque stepped down as CEO of TaskRabbit, and in September 2017, the company was sold to Ikea. (Interestingly, in a TEDx Talk six years prior to the acquisition, Busque said the most popular task posted on the platform was Ikea furniture assembly.)
“TaskRabbit is my first baby, my first child,” she says. “The one thing that you would hope for your child or for your company is that it has a full life, right? And is happy, and grows up, and moves on from you. And so I feel very fortunate that I got to be on that journey and see that happen all the way through.”
Even after the acquisition, Busque has her feet firmly planted in the startup world. She serves as executive chairwoman at TaskRabbit and has transitioned into the role of investor as general partner at Fuel Capital, a seed-stage venture fund in San Francisco. It’s a natural transition, given her background as the founder of a venture-funded startup.
“Building things has always been my passion,” she says. “I love the early stages of a company, when there is a seemingly impossible-yet-pressing problem to solve. I couldn’t be more excited to work closely with early-stage founders and their teams as they take on world-changing ideas—much like I did during my early days at TaskRabbit.”
Given her years of experience building a peer-to-peer marketplace, Busque as an investor has chosen to focus on consumer businesses and marketplaces.
“I’ve also focused my attention on meeting and supporting the ‘outsiders,’” she says, such as women founders, those who don’t fit the typical mold, and those who aren’t based in Silicon Valley. “It’s been awesome to meet so many awesome entrepreneurs who don’t look like the typical founder. … I certainly didn’t!”
Her new role and focus couldn’t come at a better time. According to the Crunchbase “Women in Venture” report, in 2017, only 6 percent of all seed dollars went to female-only-founded startups, while male-only-founded startups received 83 percent of all seed dollars. Those figures have remained remarkably static since 2012.
Busque’s first investments reflect the type of impact she hopes to make. Werk is a women-founded career platform helping women find flexible job opportunities. Feather is a Brooklyn-based startup that provides affordable furniture rental with quick delivery.
“As I thought about what I wanted to do next, I just started getting pulled in the direction of venture from a lot of different angles,” Busque says, “from investors that I highly respect, from friends that were in the industry, and so I made the decision that I wanted to do investing full time as the next stage of my career.”
And if the previous stage of her career is any indication, there’s no task too big for Busque.
Thu, 8 February 2018
Melody McCloskey is the founder of StyleSeat, a San Francisco-based SaaS company that has raised $40 million in funding, powers billions in transactions and is recognized in 82% of American cities. StyleSeat provides tools for beauty professionals, which lets them run their entire business with just one piece of software.
If StyleSeat sounds like your typical booming, industry-disrupting tech startup, don't be fooled. McCloskey is dedicated to running her company in very atypical ways, and in today's interview, she shares how bucking Silicon Valley norms can help you achieve tremendous success—on your own terms.
For example, her startup is led overwhelmingly by women, a rarity in an industry with persistent gender gaps. The company has also chosen to stop raising money, and without a marketing or sales team, it barely invests in marketing.
McCloskey loves what she does and her business decisions are not solely driven by a pursuit of revenue and growth like many of her peers. Her goal is to empower badass female business owners with amazing products so they can do what they love as well. When they win, she wins.
Check out the interview to learn McCloskey's unique approaches to funding, growth, and staffing, along with other priceless lessons.
Thu, 1 February 2018
184:The Unconventional Approach That Built an Online Education Empire of 3M Students, With Ajit Nawalkha of Mindvalley
Unlike most entrepreneurs, Ajit Nawalkha doesn't focus on profit, revenue, sales, or customer surveys to grow his company. He's also been known to abandon some of his products, even when they're highly profitable, if they don't align with his vision. An unconventional approach, to be sure, but his personal development school Mindvalley has more than 3 million students and counting.
So what does Nawalkha focus on? His mission is to create life-changing experiences for his customers, and does so by bringing them instruction from some of the most powerful speakers of our time.
Nawalkha’s main goal is not to develop products, but to create "heart-centered experiences." And he believes this is the key to Mindvalley’s success in its quest to move their business—and all of humanity—forward. In this unique interview, you will learn exactly how Mindvalley creates these amazing client experiences, and its unconventional philosophy for measuring success.
Nawalkha and Mindvalley have risen to the top by focusing not on conventional indicators of growth, but on making the world a better place—one client experience at a time.
Thu, 25 January 2018
Thu, 18 January 2018
Thu, 11 January 2018
Entrepreneurs find inspiration in all sorts of places. But for Ari Meisel, founder, bestselling author, and productivity expert, desperation was the driving force behind the launch of his successful company, Less Doing. That same desperation led him to breakthroughs in productivity that changed his life.
At just 23 years old, Meisel was enjoying a thriving real estate career, but after suffering some major business blows and landing $3 million in debt, the stress overwhelmed him and he was diagnosed with debilitating Crohn’s disease. Managing the disease crippled Meisel’s ability to work regularly. Some days he was unable to work longer than an hour.
During this difficult experience, Meisel realized he needed to devise a way to accomplish more work in the limited time he had. Through a long process of experimentation, Ari developed his Less Doing, More Living productivity system, which allowed him the time he needed both to build a new business and improve his health.
A devoted husband, father of five, and dedicated businessman, Meisel now helps individuals and businesses around the world become more effective—all while working only 5 ½ hours a day. He's also recently teamed up with Foundr to teach his Less Doing, More Living system to our awesome community.
In this inspiring interview, learn the secrets behind Meisel’s airtight productivity system and discover how you can also become a productivity master and optimize, automate, and outsource your life and business.
Thu, 4 January 2018
180: How a Made-Up Idea for a Business Became the Second-Largest Expense Reporting Company, with Expensify’s David Barrett
What if you could stumble upon a game-changing idea without spending time and money on validation, industry research, or prototypes? And then grow this idea into the second largest company in your niche? It’s not common, but that's what happened to today’s podcast guest, David Barrett.
Barrett is the founder of Expensify, the second largest expense-reporting company in the world. But in its early stages, Barrett knew nothing about the space, nor was he particularly interested in it. In fact, he completely made up the Expensify idea as a decoy to get some funding for another endeavor, since banks weren’t interested in his “real” business idea.
But the decoy picked up steam as he pitched it, and before Barrett knew it, he was sitting on a potential goldmine. People were talking more about his fictitious business idea than they were his original idea. And Expensify was born.
Keeping with Barrett's unconventional approach to startups, Expensify’s massive growth has also been atypical. Barrett has not spent a dime on advertising, outbound sales calls, or salespeople. The software essentially sells itself.
In this packed interview, learn exactly how Barrett grew his company and how his unique business sales model and contrarian style disrupted the space. David Barrett is a true example of how challenging the status quo and disrupting common ideas can lead to avenues of massive growth and potential.