The Game with Alex Hormozi Cashflow, Unit Economics, and Bootstrapping $550M ButcherBox with Mike Salguero | Ep 838
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Feb 17, 2025 
Mike Salguero, Founder and CEO of ButcherBox, shares his journey of growing a $550 million meat subscription service. He dives into the challenges of bootstrapping and managing equity while navigating market pressures. Salguero reveals innovative customer retention strategies like 'bacon for life' deals and successful referral programs. He discusses the importance of effective marketing, leveraging influencers, and the lessons learned from past failures. Insights on subscription economics and maintaining profitability amid competition are key highlights.
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CustomMade.com's Early Success
- Mike Salguero's first business, CustomMade.com, was a woodworker listing site he and his friend bought for $140,000.
- They raised $500,000, improved the site, and grew revenue from $35,000/year to $60,000/month.
Buyer's Perspective
- Before launching a business, "switch sides of the table" and evaluate it as a buyer.
- Address those issues first for improved market readiness, as advised by Alex Hormozi's mentor.
Venture Capital's Downside
- After initial success, CustomMade.com pursued venture capital, raising millions but losing control.
- Mike Salguero eventually owned only 8%, fired his friends, and lost the company culture.