Startups For the Rest of Us Episode 601 | Bootstrapping B2B vs. B2C
16 snips
May 3, 2022 
Nick Fogle, co-founder of ChurnKey and former co-founder of Wavve, dives into the intricacies of bootstrapping B2B versus B2C businesses. He shares effective strategies for reducing customer churn and the importance of gathering feedback from cancellations. Nick reflects on his pivotal decision to sell Wavve and the contrasting sales approaches between B2B and B2C models. He discusses the mindset shifts necessary for high-touch sales and the value of hiring a dedicated head of sales. Insights are peppered with personal experiences that any entrepreneur can learn from.
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Reducing Churn
- Figure out why people are canceling your service by gathering feedback.
- Offer alternatives like pauses or discounts to entice users to stay.
Collecting Feedback
- Use simple surveys with pre-defined answer choices instead of free-form feedback fields.
- Separate yourself from the business and avoid taking negative feedback personally.
Wave's Churn Challenges
- Nick Fogle's previous business, Wave, initially struggled with high churn due to its prosumer model.
- Implementing churn reduction strategies like pausing subscriptions and offering discounts helped overcome a growth plateau.