The Foundr Podcast with Nathan Chan

All three of Rory Boyle’s ecommerce businesses were negatively impacted by Covid-19.But thanks to his strategic—and insanely fast—pivot, two of his companies are now making double the revenue they were before and one (which historically made most of its money through conferences) is still pulling in around 50% of what it used to make.How did Boyle recover so quickly from the pandemic? In this interview, we were lucky enough to get a detailed analysis around his thought process and strategic decisions. Boyle takes us through how he shifted his sales and marketing tactics (which still includes getting on the phone) and explains how he’s using this time as an opportunity to give back to his community and customers. He also shares tons of tips around scaling sales efforts, the art of cadence emails, and other tactics you can use to grow your revenue.If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.If you need want some training on ecommerce, check out our Free Masterclasses:Learn How You Can Start a Profitable Online Store (In 12 Weeks or Less)Discover the “5 Core Drivers” Behind Today’s Fastest-Growing 7-Figure StoresKey Takeaways The origin stories of Hampers With Bite, Promotions Warehouse, and Snacks With Bite What Boyle means when he says to “control the controllables” How COVID-19 impacted all 3 of Boyle’s businesses—and how he pivoted all of them at breakneck speed The approach Boyle is taking to sales and marketing during the pandemic (and why his team is still hopping on the phone to talk to customers) Why Boyle believes every ecommerce entrepreneur needs to be thinking about the next step instead of focusing on current performance How Boyle is giving back to his community and customers How he’s planning around stocking challenges, especially for the upcoming holidays A super deep dive into Boyle’s best sales tactics and strategies Why Boyle would encourage entrepreneurs to launch their business in today’s climate

Today, we’re excited to share another valuable interview to help you overcome business challenges during the Covid-19 pandemic.We had the opportunity to pick the brain of Ashwin Sokke, the founder of WOW Skin Science. His global 8-figure skincare and haircare business is extremely popular in India and across the U.S., and it has been a top-selling brand on Amazon for the last four years in those countries.In this interview, Sokke shares how his company dealt with the impact of Covid-19 which shut down half of his business for several weeks. For businesses who are going through similar pains, he provides incredible insights across many topics—from how to communicate with customers (he believes we should be sending them more emails and texts during this time) to getting creative with your marketing tactics (remember giveaways?). Sokke even digs down into the nitty gritty and breaks down his thoughts on subscription models, ad investments, and SKUs.We believe this conversation will be valuable for any entrepreneur to listen to, especially those with ecommerce businesses. If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.If you need want some training on ecommerce, check out our Free Masterclasses:Learn How You Can Start a Profitable Online Store (In 12 Weeks or Less)Discover the “5 Core Drivers” Behind Today’s Fastest-Growing 7-Figure StoresKey Takeaways How Sokke got into the health and beauty space The path to growing WOW Skin Science in India and the U.S. and becoming a top-selling brand on Amazon Why Sokke develops all of his products from scratch A glimpse into the company’s incredible numbers: 8-figure revenue and 370% growth in the U.S. last year The impact that Covid-19 had on Sokke’s global company Why Sokke believes companies should be sending more emails during this time (and how to be strategic about it) Why giveaways have been a successful tactic during Covid-19 An overview on a winning stock keeping unit (SKU) Sokke’s thoughts on how to win with subscription models The best advice Sokke can offer to the community during Covid-19

The latest installment of the Foundr podcast is a landmark—our 300th episode! So to mark the occasion, we’ve got something a little different for you today.Daniel DiPiazza, the founder of Rich20Something, was on the cover of Foundr Magazine last year, and today, he returns to Foundr to “reverse interview” our own CEO, Nathan Chan, ahead of the relaunch of Foundr’s beloved Instagram Domination course.Together, Nathan and Daniel share the details of how they each found success on Instagram for their respective brands. They also explore Instagram’s algorithms, how it compares to other social media platforms, and the right way to use this powerful tool during the Covid-19 pandemic. Plus, they swap stories about their friendly competition, their time in the “Motivation Mafia,” and more!If you want to learn more about our remastered Instagram Domination course when it launches, sign up for the Free VIP waitlist here (Get a FREE Lesson!).Key Takeaways The reason for this special “reverse interview” How Nathan and Daniel got started on Instagram and are still finding success with the platform today Why Instagram is the most powerful tool for both personal branding and ecommerce A glimpse into Instagram’s algorithms and metrics Why Instagram needs to be about more than just follower numbers How Instagram can be a powerful tool through the current pandemic A throwback story about the “Motivation Mafia” Why Nathan would still pick Instagram as his platform of choice if he were to start a new company today A comparison of Instagram vs. YouTube How Daniel’s Instagram account helped him seal a six-figure book deal The question that stumped Nathan (and why he prefers to focus on the present) Why Daniel owes Nathan a trip to San Sebastián

Dylan Mullan took an extremely unconventional path to entrepreneurship.While he was in school, Mullan was convinced he wanted to be a lawyer, until he started taking classes at university and realized that he hated them. After that, he spontaneously took an acting course and spent almost five years as an actor. It was eventually a desire to have more control over his life that led him and his business partner to launch Happy Skin Co together.Through a mixture of hard work, strategic decisions, and a deep investment in understanding their target customer, Mullan managed to grow his at-home hair removal business from $0 to $20 million in just two years.In this interview, Mullan maps out exactly what this path to explosive growth looked like. He breaks down his approach to everything from market research to Facebook ads and explains why mindset is ultimately an entrepreneur’s most valuable tool.If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.Key Takeaways The path from aspiring lawyer to aspiring actor, and how Mullan eventually wound up in the world of entrepreneurship A look into Happy Skin Co’s early days, from long nights of planning to packaging products in Mullan’s living room with friends and family The turning points that catapulted the company from $0 to $20 million in 2 years How Mullan approached market research and influencer marketing in the early days What the impact of Covid-19 has looked like for Mullan and his team, and the new opportunities it has opened up Mullan’s best advice when it comes to creating profitable Facebook ads An overview of the Happy Skin Co product development process and a sneak peek into what’s next How to deal with industry copycats Why Mullan is a huge advocate for visualization and believing in yourself

Josh Snow always finds ways to thrive in difficult situations.Growing up, his family didn’t have a lot of money, and he wanted to help them cover basic expenses. So Snow taught himself how to create websites at his local library, which is how he stumbled into entrepreneurship. He eventually took that knowledge and built a software company from the ground up, which he sold by the age of 21.Now Snow runs multiple successful businesses—with the most prominent one being his nine-figure teeth whitening business, Snow.And he’s still finding ways to overcome adversity. Just as most businesses have been impacted by COVID-19, Snow also took a huge hit in terms of sales, with its conversion rates cut in half when the pandemic first emerged. However, by making fast, strategic changes, Snow got his company through the temporary setback and is today seeing higher-than-average sales on its site.In this interview, Snow shares exactly how he made the necessary changes to his business. He also provides advice to other online businesses on how to get through this time by adjusting everything from your subscription model to your approach to influencer relations strategy.If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.Key Takeaways How Snow stumbled into entrepreneurship through necessity The journey to selling his first software company at the age of 21 Why Snow believes adversity gives you the opportunity to pause and reprioritize The inspiration behind Snow, and how it grew to be a nine-figure business How the company has been affected by COVID-19, and the changes Snow made to help his business bounce back and make more sales than before the pandemic Snow’s recommendations on how to adjust your subscription products, influencer relations, and paid ads strategy during this time The importance of evolving and meeting your customer where they’re at Why Snow believes you have to be an “everything” person if you want a successful business Advice on using Shopify vs. funnels The choice between hunting rabbits vs. elephants (metaphorically)

Steve Blank is a legend in Silicon Valley. In addition to launching eight startups in 21 years, he’s also a well-known author and educator at Stanford University, Columbia University, and the UC Berkeley Haas School of Business.Having worked in the realm of entrepreneurship for so long, Blank has survived some of the worst recessions in U.S. history and has first-hand experience of what it’s like to keep your business afloat under high-pressure circumstances—knowledge that’s directly applicable to the COVID-19 global health crisis.In this interview, Blank shares his three-step process for what every business needs to do right now to survive the pandemic. He breaks down everything from calculating your burn rate to reassessing the way you work with your team. Blank also shares his own personal experiences with the 2008 recession and dot-com bubble.If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.Key Takeaways Why Blank believes today’s entrepreneurs should listen to the advice of seasoned founders The three-step process Blank recommends to understand where your business is headed, from calculating finances to reassessing business models The biggest lessons Blank learned during the 2008 recession and dot-com bubble Why Blank believes in planning for the morning after The importance of high-level execution during times like today How to think about recalibrating in terms of retaining staff and hiring The importance of setting expectations—whether in your marketing or management Why this pandemic could be an opportunity to re-evaluate how you want to spend your life

CEO Dallas Tanner on the breakneck creation and growth of multibillion-dollar home rental company Invitation Homes.Like a lot of successful businesses, Invitation Homes was a seemingly overnight hit that had been in the making for many years.“We bought the first 30,000 homes in the first 18 months,” says CEO Dallas Tanner, of the single-family home rental company.Based on that burst of early success, it might seem as though Tanner did the impossible—come up with a brilliant idea, instantly get buy-in from an investor, and reap immediate rewards.But long before Invitation Homes launched in 2012, Tanner had already cut his teeth in the home rental business. During college, he bought a couple of houses with his dad and managed them while going to class. He later founded the Treehouse Group Companies, which focused on workforce housing in the Southwest.So, when Tanner set out to start Invitation Homes, he did so with a large body of experience, knowledge, and accomplishments in his chosen field. That could have had something to do with the quick traction he got at Blackstone, his early capital partner and provider of funds for those 30,000 homes.“High speed, low drag,” Tanner says of their initial goal. There was an intense focus on getting out there, scaling up, and achieving meaningful gain in as short a time as possible. Were they worried, though, that the swift pace might blind them to any turbulence ahead?“If you’re building an airplane while flying it, there’s always a risk that you may miss a step. We were lucky to have no major issues and that’s because we were comfortable in the area we were building. We knew it and understood it.”That early work and knowledge of the industry paid off. In 2017, Invitation Homes went public with an initial share price of $20. Two years later, it hovers between $29-30 per share, a 48% increase. Blackstone sold its remaining shares (11%) of the company in November 2019 for $1.7 billion, bringing Blackstone’s total profit from IH to $7 billion.“As we think about our business, we’ve gotten more and more efficient here in year seven,” he says. “We’re focused on the kinds of things that deliver a really good customer experience but make us as optimized as possible.”For example, the inaugural days of the business found technicians switching out locks each time a home got a new resident. New tech eventually provided the option of electronic entry, which Invitation incorporated into its homes. Now, when a resident moves out and a new one moves in, only the code needs to be changed. This made the move-in experience that much smoother for new residents and saved time for the team.Remember, though, that the quest for good systems shouldn’t overwhelm everything. “You’ve got to spend your time being as efficient as possible, but driving growth at the same time,” Tanner says. “It’s always a balancing act.”He acknowledges that it also takes some luck and good timing. “But, the only way those things go your way is if you’re head down and going hard.”Interview by Nathan Chan, feature article reprinted from Foundr Magazine, by Rebeca Seitz

Believe it or not, there are many parallels between the world of boxing and the world of entrepreneurship. Tim West is familiar with both. As the founder of the fastest-growing global boxing franchise, 12RND Fitness, West has had his feet squarely planted in both realms for many years. He started his journey working in brick-and-mortar fitness centers before jumping into tech entrepreneurship, and eventually launched 12RND Fitness in 2014, which quickly exploded across Australia and is now expanding globally. In fact, West is in the process of opening up their first locations in New Zealand, Singapore, London, and Los Angeles this year. In this interview, West dives deep into his thoughts on the franchising model, his biggest lessons from working in tech, and his approach to overcoming obstacles. Check out the full conversation below! Key Takeaways How West worked his way up the rungs of the fitness ladder—from aspiring professional athlete to strength and conditioning coach Why he jumped at the opportunity to open up one of the first franchises for Jetts Fitness, the first 24-hour gym in Australia West’s first foray into tech, and the most important lessons he picked up along the way Why West decided to return to brick-and-mortar fitness, and how he came up with the MVP for 12RND Fitness How West pressure-tested his business model across Australia The reason West tested his business for two whole years before opening up to franchisees A sneak peek into West’s data-driven approach to working with franchisees Why West is grateful for his struggles

As a founder, you’re likely feeling a lot of stress and anxiety around the current situation with COVID-19. While we hope your business isn’t being too heavily impacted, we want to let you know that we’re always here for you and want to help in any way we can.We’ve been mulling over how we could be the most useful to the Foundr community and decided it would be incredibly valuable to sit down and talk to Steve McLeod. McLeod is uniquely equipped to share advice about the current circumstances for many reasons: he’s a business coach that has guided thousands of organizations through challenging situations (including Foundr); he founded his own company called Fire And Safety, which is now a $20 million business; and he’s a former firefighter who dealt with many disasters during his eight-year tenure.In this interview, we touch on many topics—from managing cash flow reserves to communicating with customers to adjusting your mindset—that we hope you’ll find helpful as we navigate this unfamiliar territory together. Whether you’re getting ready to launch a new business or are already running a seven-figure company, the contents of this interview should be applicable for entrepreneurs at every stage.If there’s any other type content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at support@foundr.com to let us know.Key Takeaways How McLeod’s background as a firefighter, founder, and mentor is allowing him to guide businesses today through the COVID-19 pandemic The importance of understanding where your business is today: positioned for growth or in survival mode? Why you need to be transparent with your teams, regardless of your current situation McLeod’s advice: cut costs but don’t stop your sales and marketing efforts Why you need to focus on your existing customers and how you can help them How to keep your mindset clear during this stressful time Why connection, discipline, and alignment are more critical than ever before An overview of cash flow reserves, and how much you should have in the bank now The reason why McLeod doesn’t believe it’s the right time for work-life balance How to be a good leader in unprecedented circumstances Why leaders need to be asking themselves the tough questions today more than ever McLeod’s advice for businesses that are thinking about launching soon

When Peter Diamandis was a kid, there were two life-changing moments that shaped him into the person he is today: the launch of the Apollo space program and the release of Star Trek.These two events inspired Diamandis’ love of space and taught him to always keep his eyes on the future. It’s no surprise then that Diamandis went on launch over 20 companies in the areas of space, longevity, venture capital, and education.Diamandis has also dedicated himself to supporting others who make an impact on the world, which is why he founded the venture fund BOLD Capital Partners, the X Prize Foundation, and Singularity University—all organizations focused on promoting technologies that have the potential to improve society.In this interview, he shares his thoughts on what it takes to build a sustainable business, his predictions for industries like education and healthcare, and what he’s most excited about in terms of future innovations. This is a conversation you won’t want to miss!Key Takeaways Why Diamandis ended up going to medical school, despite his love of space How Diamandis carved out his own life path, which led to him starting 20+ companies in the areas of space, longevity, venture capital, and education His predictions on which industries will transition from a scarcity to an abundance mindset The golden rule Diamandis always follows whenever he prioritizes what to work on next Why Diamandis believes a person’s mindset is the most valuable asset they own The inspiration behind Diamandis’ latest book, The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives What excites Diamandis most about the future, and why he feels optimistic about what’s to come