People Love Your Idea, But It Doesn't Make Money. Now What?
People may like to shop for cars online, but they still want to test drive them in real life before buying. So when the online car sales company Shift launched, it created a system its founders were sure would win customers over: They hired “car enthusiasts” -- guys just really passionate about cars -- to drive a car to a customer so they could test drive it together. The car enthusiasts were a hit; people loved them, and praised them online. But Shift wasn’t celebrating: As it turns out, the car enthusiast program was so expensive to run that the company wasn’t actually making money. And that meant Shift needed to do something that felt crazy: blow up the feature everyone loved. Learn more about your ad choices. Visit megaphone.fm/adchoices
30 Apr 201820min
How to Name Your Company — Or Fix A Bad Name
A company's name is one of (if not the) biggest early decisions a company founder will make -- and they often get it wrong. Google was first called BackRub, Best Buy was Sound of Music, eBay was AuctionWeb, and Policygenius was KnowItOwl. In this episode, Policygenius's founder walks us through the rigorous process she went through to scrap a confusing name and create one that led to success. Learn more about your ad choices. Visit megaphone.fm/adchoices
23 Apr 201821min
He Took A Lowbrow Product, And Made It Luxury
Sean Dowdell loved tattoos, but he hated tattoo parlors. They were dirty, uninviting, downmarket, unprofessional and often sexist. So when he set aside his music career to start his own tattoo parlor, he needed to find a way to make a traditionally lowbrow product appeal to a high-end, but still edgy, audience. A decade later, he’s now opening glitzy tattoo shops all over the world. Here’s how he pulled it off. Learn more about your ad choices. Visit megaphone.fm/adchoices
16 Apr 201817min
The Business Model Doesn't Work—So Change It!
What happens when your customers are willing to use your product, but they're not willing to pay for it? Answer: Your business model may be wrong. That's what Ilir Sela learned after launching Slice, a company that helps local pizzerias sell online. He found plenty of early customers, but they weren't paying their invoices. As he dug deeper, he realized the problem wasn't them -- it was him. And he began the long process of figuring out what (and how) people were willing to pay. Learn more about your ad choices. Visit megaphone.fm/adchoices
9 Apr 201819min
The Curse of the Problem Solver - You Can't Solve It All
Patrick Llewellyn discovered that his design company, 99designs, was only fulfilling some of his customers' needs. He wanted to fill more, so he created a spinoff brand called Swiftly. But in doing so, he created a major problem for himself: He was stretching his resources too thin, and confusing customers about which brand they should use. In the end, he discovered the Curse of the Problem Solvers: Sometimes, you have to let some problems go unsolved. Learn more about your ad choices. Visit megaphone.fm/adchoices
2 Apr 201821min
How A Company Becomes A Thought Leader
When Daniel McCarthy cofounded the music licensing company Musicbed, he had a big idea: "I don’t want customers to just think about Musicbed when they think about music licensing. I want them to think about Musicbed when they’re trying to get inspired." Accomplishing that would require a lot of experimentation, spending money with no sure ROI, and launching (and closing) a magazine. In this episode, we map how Musicbed became more than just the sum of its product. Learn more about your ad choices. Visit megaphone.fm/adchoices
26 Mar 201820min
They Were Acquired... And Then The Buyer Went Bust
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19 Mar 201818min
How Three Entrepreneurs Started On The Fast Track
Every entrepreneur’s journey starts with a big problem. That first hurdle—and hopefully, that first solution. Small and sometimes simple as it may be, this first moment contains so much ingenuity and inspiration, and captures just how resourceful entrepreneurs must be to continue along their path. Today, we’re telling three mini-stories of first-time challenges: how the creator of the Butterie butter dish cracked its market research problem, how GrowSumo found the right customers (and avoided the wrong ones), and how American Rhino created an apparel brand within weeks. Learn more about your ad choices. Visit megaphone.fm/adchoices
12 Mar 201819min
