The Foundr Podcast with Nathan Chan

Richard Li puts customer service above all when it comes to his luggage company, July. This unfaltering commitment is why he personally makes house calls to address complaints and why he recently hand-delivered packages after realizing that some customers wouldn’t receive the luggage they ordered in time for the holidays. But this high level of service is only a small piece of Li’s success story with July. Li, who has previous entrepreneurial experience from his furniture company Brosa, has also figured out a “magic” formula for manufacturing, marketing, and selling physical products. He used this knowledge to grow July from $0 to $5 million in revenue in just a year. And now he’s looking forward to opening up additional retail stores, introducing more products, allowing for more luggage personalization, and expanding into international markets in 2020. If you want to learn more about what it takes to launch and scale a business that revolves around a physical product, be sure to give our interview a listen! Also be sure to check out our latest online course, Ecommerce Masters, where Richard Li is one of the five instructors teaching advanced ecommerce skills. ATTENTION: We're excited to announce that Richard Li has partnered with Foundr to teach one of the modules in our course, Ecommerce Masters. Get on the Free VIP Waitlist to be notified when we open enrollment! Get a FREE Lesson from Our Course: Ecommerce Masters! Learn the FASTEST Path to a Million-Dollar Store Key Takeaways The opportunity Li saw in Australia’s furniture market that led him to launch Brosa Why he stepped back from Brosa after five years to focus completely on his new direct-to-consumer luggage company, July An overview of July’s funding journey, go-to-market strategy, and first sale The journey from $0 to $5 million in one year How to find a manufacturer that can grow with your company Why Li offers July customers a 100-day trial and lifetime warranty The rules of product development that Li follows Why Li decided to follow the direct-to-consumer trend of opening up a physical store July’s four growth pillars for 2020 Li’s best advice for entrepreneurs building a business around a physical product

4 Helmi 202056min

Rob Ward always seems to be one step ahead. Before Kickstarter took off, Ward and his co-founder Chris Peters launched two successful campaigns on the platform, funding Opena and Quad Lock—the two products that led to the founding of Annex Products. Then Ward was early to the Shopify game, which he successfully used to sell his products for several years. Ward was also quick to see the potential of Facebook Ads and has used them to scale Annex to a multimillion-dollar business. This ability to spot trends, paired with his finely-tuned approach to product development, has helped Ward find tremendous success as an entrepreneur. While Opena is no longer active, Quad Lock has become a leading device mount and accessory company, serving a wide variety of users—car commuters, motorcyclists, kayakers, even hang gliders. As a result, Quad Lock sells hundreds of thousands of units each year in over 100 countries. We’re now thrilled to have Rob Ward as one of the five instructors of our latest online course, Ecommerce Masters, teaching advanced ecommerce strategies. If you’re curious to learn more about Ward’s approach to trendspotting, product development, and more, we highly recommend you check out this episode! ATTENTION: We’re excited to announce that Rob Ward has partnered with Foundr to teach one of the modules in our course, Ecommerce Masters. Get on the Free VIP Waitlist to be notified when we open enrollment! Get a FREE Lesson from Our Course: Ecommerce Masters! Learn the FASTEST Path to a Million-Dollar Store Key Takeaways An overview of Ward’s prior entrepreneurial experiences with everything from laser machines to 3D printers, and how they helped him get to where he is today How he and his co-founder, Chris Peters, founded Annex Products in 2012, building on two successful Kickstarter campaigns Why the duo decided to eventually focus their resources on Quad Lock How Ward stays on the cutting edge and predicts trends Insight into Ward’s approach to the product development process—when to start thinking about the next product, the iterative process, and more Why Ward isn’t too worried about Quad Lock copycats Why Ward doesn’t believe in following other people’s blueprints for success A sneak peek into the module Ward will be teaching for Ecommerce Masters

28 Tammi 20201h 1min

At 27, Chase Dimond is already considered a marketing veteran. In addition to overseeing the marketing teams of various companies, Dimond has also founded many of his own ventures, such as Soundjuice and ZenPup. His most recent company is Boundless Labs, an agency that focuses on email marketing for ecommerce—with a special focus on CBD companies. Thanks to its modern and human-centered approach to emails, Boundless Labs acquired 30 clients with six- to eight-figure revenues in a little over a year. Dimond has also secured mind-blowing results for those clients, such as sending emails with 40% to 70% open rates (compared to the industry average of 20% to 25%) and helping companies generate 20% to 30% of their total revenue with emails. If you’re looking to master the art of email marketing, this podcast episode with Dimond is a great place to start! He gives us a sneak peek into the best practices he uses with his own clients at Boundless Labs, along with other helpful insights. Key Takeaways How Dimond got his start in marketing, growth, and acquisitions An overview of Dimond’s ventures, from CBD pet products to a social media platform for musicians Why Dimond decided to launch his email marketing agency, Boundless Labs, and how he scaled from zero to 30 clients in a year How design sets Boundless Labs apart from the rest Dimond’s perspective on email marketing as a source of revenue for his clients The importance of the human touch when it comes to customer retention and acquisition How Dimond achieves a 40-70% open rate on customer thank-you emails

22 Tammi 202054min

Nick Shackelford used to be a goalie for the American pro soccer team, LA Galaxy II. So how did he end up being an expert in the online ad space? After leaving the soccer league at the end of 2015, Shackelford felt limited by his career options—either training people or playing in a low soccer division—and decided to take the road less traveled instead. He gained experience in paid social media through an internship at PepsiCo. and a stint at a digital marketing agency. Shackelford used the knowledge he gained to start his own fidget spinner business called Fidgetly. This was where he further cemented his paid marketing know-how and also mastered the art of scaling quickly without breaking the bank. Even after the close of Fidgetly, Shackelford continues to put his knowledge to good use by helping brands through his online marketing, branding and consulting company, Structured Social. Whether you’re looking to learn more about scaling, media buying, or paid advertisements, Shackelford is your guy. Make sure to check out his interview to take a deeper dive into these fascinating topics! Key Takeaways How Shackelford went from pro soccer player to intern at PepsiCo. His experience working on paid social media campaigns for the iPhone 7, iPad Pro, and the Apple Watch The rise of fidget spinners, and how this trend helped launch his own business Fidgetly The discovery of Shackelford’s superpower: scaling via paid marketing An overview of Shackelford’s work with various brands after closing Fidgetly How he helped one company clear $10.7 million in sales in 35 days using online ads Shackelford’s best advice for 6-figure businesses that want to accelerate growth The traits of a good media buyer A sneak peek from Shackelford into the new Foundr course he’s teaching

15 Tammi 20201h 1min

Joe De Sena, like many of us, is a fitness fanatic. But his approach to fitness is a bit more...intense than most. De Sena used to participate in countless obstacle course races, Ironman events, and marathons around the world. But even those weren’t challenging enough for this hardcore athlete. That’s why, after wrapping up a decade-long career on Wall Street, De Sena decided to start his own adventure racing company. The first race De Sena hosted was on the British Virgin Islands, and it didn’t go very smoothly. That race cost De Sena half a million dollars and resulted in a participant getting lost at sea for several days. Thankfully, the races have evolved a bit since then—although are no less challenging—and are known today as the Death Race and Spartan Race, which are collectively a $60 million business that has revolutionized the world of obstacle racing. Check out this interview to learn more about De Sena’s financial, mental, and physical journey to popularizing this global franchise. Key Takeaways De Sena’s decade-long stint on Wall Street, and how it helped fund his next venture Why De Sena decided to start his own adventure racing company How the very first race De Sena hosted on the British Virgin Islands went terribly wrong for one participant The birth of Death Race and Spartan Race Why De Sena never gave up on his company, despite losing $8 million in the process over a span of 15 years How the network effect eventually helped the obstacle course races gain traction The expansion of Death Race and Spartan Race to 45 countries De Sena’s honest thoughts on work-life balance and what it takes to be an entrepreneur A sneak peek into his latest book, The Spartan Way

18 Joulu 201931min

Jeff Epstein paid off his law school student loans in an unconventional way. When he and a couple of friends noticed the booming online poker sites in the mid 2000s, they created an affiliate company to refer traffic to them and get paid in return. The business did well enough that Epstein was able to sell his stake to his partners for a nice profit that helped him pay off his debt. Epstein ultimately decided not to pursue law, but his entrepreneurial experience stuck with him. In particular, he recognized the power of referrals to help businesses gain more customers. As a result, Epstein eventually founded Ambassador, a referral marketing software that enables brands to build and scale referral, affiliate, partner, and influencer programs. While the journey to growing Ambassador was far from a smooth ride, Epstein picked up many valuable lessons along the way that helped him grow as both a person and an entrepreneur. Eventually, Ambassador became successful enough that it was acquired by a large corporation. Check out this interview to learn more about Epstein’s journey and hear him open up about his biggest mistakes, regrets, and lessons learned. Key Takeaways How Epstein used his poker affiliate business to pay off law school debt What he learned about the power of referrals in the process Why Epstein regrets acquiring his first SEO company, and what ultimately led to its demise How this failure informed the idea for referral marketing software, Ambassador Why it took six months for Ambassador to get a repeat paying customer What it was like to run a “fat” startup How Ambassador’s acceptance into Techstars helped the company take off The growth of Ambassador and its stressful acquisition by West Corporation

10 Joulu 201948min

Ben Simon showed up at his college classmate Ben Chesler’s door with a giant, ugly sweet potato, plopped it down in front of him, and declared, “This is the future.” Chesler believed him. Simon had visited multiple farms in California, and discovered that 20% of the state’s produce was being thrown out, which amounted to around 3 billion pounds of unnecessary waste. Together, with their friend Ron Clark, the trio launched a service in 2015 that would save ugly, unwanted fruits and vegetables and deliver them to consumers at low prices. They called it Imperfect Foods. Thanks to an admirable mission and relatively untouched market, Imperfect Foods took off. Four years after the launch, the company now boasts six fulfillment centers in over 20 cities and more than 1,000 employees. The team is also expanding their offerings in order to fight food waste across the entire system, now offering dairy, dry goods, and canned foods to their customers as well. Learn more about food waste, the power of customer interactions, and the importance of giving employees a stake in a company in this interview with Chesler. Key Takeaways How Chesler and Simon got their start tackling food waste in the nonprofit world The giant, ugly sweet potato that became the catalyst for Imperfect Foods The hilarious story of how Reddit brought in more customers for Imperfect Foods than The New York Times Why the original founding team’s first hires were a bunch of teenagers A look into Imperfect Foods’ massive growth over just four years Why product-market fit wasn’t on the team’s mind until six months after the company’s launch The brilliant marketing strategy that helped Imperfect Foods take off The power of customer interactions Why Chesler and the founding team make sure every single employee works in the warehouse at least once—and has access to stock options The biggest challenges Imperfect Foods faces Chesler’s reasoning for hiring people you have no business hiring, early on

9 Loka 201944min

If you’ve ever bought a bottle of Jack Daniels BBQ sauce or Febreze kitty litter, you’ve seen Michael Stone’s powerful approach to brand licensing in action. This attorney-turned-entrepreneur pioneered the form of corporate licensing that makes such products possible and wildly successful. Stone made his first foray into the world of licensing with the launch of his company, Beanstalk, in the mid-1990s. The firm quickly became the go-to resource for prominent brands like Procter & Gamble, Coca-Cola, and AT&T—all corporations that were eager to expand their reach into different product categories and strengthen their relationships with consumers. In 2018, Stone and his company were responsible for generating over $7 billion in retail sales of licensed product. While he stepped down as the CEO a few years ago, Stone still serves as the chairman of Beanstalk and is committed to innovation in this industry. Check out this interview to learn more about the ins and outs of licensing and to hear about Stone’s experience writing his book The Power of Licensing: Harnessing Brand Equity. Key Takeaways Why Stone switched lanes from practicing law to pioneering brand licensing The uncharted territory Stone noticed, and how it led to the launch of Beanstalk The necessary components for successful corporate brand licensing How Beanstalk became the go-to resource for prominent brands An explanation of why Febreeze is a better candidate for expansion via licensing than Citibank Handing over the reins of a business that was responsible for over $7 billion in sales in 2018 Why Stone decided to stick with his existing niche instead of starting multiple new businesses Stone’s honest warning for aspiring entrepreneurs

1 Loka 201958min