My First Million Patrick Campbell: The Billion $ Quilting Industry And Using Spy Secrets To Gain A Competitive Edge
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Jul 7, 2022 
Patrick Campbell, Founder and CEO of ProfitWell, shares insights from the innovative subscription metrics business and the surprising profitability of the quilting industry. He discusses the unique community dynamics of quilting and the growing engagement among younger demographics. Patrick also dives into unconventional business strategies, like leveraging competitive espionage and ethical debt purchasing. The conversation takes a quirky turn with a glimpse into a person’s hostile takeover—might just leave you intrigued and entertained!
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Quilting Industry Boom
- The quilting industry is a surprising billion-dollar market, with quilters spending an average of $8,000-$9,000 yearly.
- One Missouri town revitalized its economy thanks to a quilting YouTube channel.
Target Older Demographics
- Target older demographics (30-60) for better customer loyalty and lower churn.
- Middle-aged women in Middle America are particularly receptive.
Premium Pricing and Churn
- Premium and niche products experience lower churn rates than broader market offerings.
- Starting with higher prices and adjusting downwards is often easier than raising prices later.