Failing to Success

Company StatsFounded: April 2021Revenue: $3.6 million annuallyEmployees: 13Episode Highlights✅ Bootstrapping a business fosters creativity and deep market understanding.✅ Listening, practicing empathy, and solving problems are key to creating value.✅ FlowChat's success is built on direct market feedback and continuous improvement.Episode SummaryIn this episode, we talk with Chris Baden, CEO and co-founder of FlowChat, a versatile social selling tool for platforms like Facebook, LinkedIn, Instagram, Twitter, and Discord. FlowChat, founded in April 2021, has grown rapidly to achieve $3.6 million in annual revenue with a lean team of 13 employees. Chris shares his journey of bootstrapping multiple businesses and highlights the importance of creating value through listening, empathy, and problem-solving.Chris discusses the principles that have guided his entrepreneurial journey, emphasizing the significance of understanding and responding to market needs. He contrasts the paths of bootstrapping versus raising capital, explaining his preference for bootstrapping due to the creative pressure it entails and the direct feedback it provides from customers. Chris also delves into FlowChat’s unique selling points and its applications in lead generation, recruiting, and finding strategic partners.Notable Questions We AskedQ: What core principles have guided your success in bootstrapping multiple businesses?A: Listening, practicing empathy, and creatively solving problems are the key principles for creating value and driving success.Q: Why do you prefer bootstrapping over raising capital?A: Bootstrapping allows for greater creative pressure, direct market feedback, and maintaining control over the business without the obligation to generate returns for external investors.Q: What problems does FlowChat solve for its users?A: FlowChat helps agency owners find and convert their next clients on social media, and it’s also useful for recruiting, finding strategic partners, and sourcing high-quality podcast guests.Q: How does FlowChat differentiate itself in the market?A: FlowChat offers a quality-focused approach to lead generation and personalized engagement, making it a valuable tool for niche targeting and building meaningful connections.Q: How has market feedback influenced the development of FlowChat?A: Extensive market feedback through thousands of one-on-one sales calls has allowed FlowChat to refine its features and continuously align with customer needs, driving its growth and success.Chapters00:00 Intro00:38 Company Stats01:29 Core Principles for Success03:00 Bootstrapping vs. Raising Capital04:50 The Power of Market Feedback08:26 FlowChat's Unique Selling Points10:05 Connect with FlowChatOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:a...

Company StatsFounded: 2017Revenue: $25 million annuallyCapital Raised: $32 millionEmployees: 63Episode Highlights✅ Startups must often challenge industry norms to innovate and succeed.✅ A single wrong hire in a key role can jeopardize the entire organization.✅ Scaling in healthcare technology involves navigating complex RFP processes and influencing policy changes.Episode SummaryIn this episode, we talk with Sufian Chowdhury, CEO of Kinetik, a healthcare technology company pioneering the first digitally integrated healthcare transportation platform in the nation. Founded in 2017, Kinetik has grown to generate $25 million in annual revenue with a team of 63 employees. Sufian shares insights on the challenges of building and scaling a startup in a highly regulated industry.Sufian emphasizes the importance of starting with a clear vision, challenging existing industry structures, and learning from early mistakes. He discusses the critical impact of hiring the right people and how one wrong hire can significantly derail progress. Sufian also delves into the complexities of scaling within the healthcare sector, including the need to navigate RFP processes and work closely with policymakers to drive long-term change.Notable Questions We AskedQ: What are the key lessons you’ve learned from building Kinetik in a challenging industry?A: The importance of starting with a clear vision, challenging industry norms, and continuously innovating while learning from early mistakes.Q: How do you ensure you hire the right people for key roles in your organization?A: By being slow to hire, starting with consultant roles, and ensuring a cultural fit before making long-term commitments.Q: What are the unique challenges of scaling a healthcare technology company?A: Navigating complex RFP processes, influencing policy changes, and working with enterprise clients and government entities.Q: Why did you choose to build a business in such a difficult and regulated industry?A: Because meaningful work is often challenging, and there’s a strong personal attachment to improving an unjust system and impacting lives positively.Q: How do you plan to scale Kinetik from $25 million to $100 million in revenue?A: By influencing policy changes, working closely with Medicaid and Medicare services, and driving efficiency in the healthcare transportation market.Chapters00:00 Intro00:11 Company Stats02:15 The Impact of Wrong Hires03:57 Hiring the Right People04:46 Scaling the Business06:32 Purpose and Motivation09:01 Connecting with KinetikOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAM

Company StatsRevenue: Over $1 million in annualized recurring revenueCapital Raised: Over $1 million in pre-seed venture capitalEmployees: 6Founded: Early 2023Episode Highlights✅ LOMA delivers local marketing solutions tailored for franchises and multi-location stores.✅ Building software for enterprises requires obsessiveness about delivering consistent value to customers.✅ Strategic acquisitions often arise from demonstrating clear value and traction in the market.Episode SummaryIn this episode, we talk with Alex Nocifera, founder of LOMA, a platform designed to scale and validate local marketing for franchises and multi-location stores. Founded in early 2023, LOMA has already achieved over $1 million in annualized recurring revenue with a lean team of six employees. Alex shares his journey from previous successful exits to his current venture, emphasizing the importance of delivering value and being obsessive about customer needs.Alex provides insights into building a sustainable business and how strategic acquisitions often result from demonstrating clear value and market traction. He discusses the challenges of building software for enterprises and highlights the necessity of focusing on the specific needs of the target audience. By understanding and addressing the key problems faced by customers, businesses can create products that drive long-term engagement and growth.Notable Questions We AskedQ: What are the key components of building a software business that aims to be revenue-generating and profitable from the start?A: You have to be obsessive about the value you deliver to your constituents, focusing on features, activation, and measuring the efficacy of your solutions.Q: How did your previous entrepreneurial experiences influence your approach with LOMA?A: My previous ventures taught me the importance of solving real problems for a focused audience and understanding the value of strategic acquisitions.Q: What strategies have you used to attract and secure strategic buyers for your startups?A: By building products that demonstrate clear traction and sustainability, large companies are more likely to show interest and see the potential for integration and growth.Q: What advice would you give to entrepreneurs looking to make their companies attractive for acquisition?A: Focus on building a real business that drives value to customers. Understand who might find your product or service interesting and ensure you meet their needs effectively.Q: How does LOMA address the specific challenges faced by franchises and multi-location stores in their marketing efforts?A: LOMA provides a platform to plan, activate, and measure local advertising dollars effectively, helping multi-unit brands see tangible results and drive growth through localized marketing strategies.Chapters00:00 Intro00:21 Company Stats00:47 Alex's Entrepreneurial Journey01:25 Insights on Business Acquisitions02:42 Building a Sustainable Business04:19 Obsessiveness in Product Development05:52 Connect with LOMAOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍a...

Company StatsFounded: July 2023Capital Raised: $2 million in seed financingEmployees: 12 (half in the US, half around the world)Episode Highlights✅ AI-driven training platforms make personalized learning affordable for small to medium-sized companies.✅ AI accelerates employee readiness, reducing onboarding time from months to weeks.✅ Personalized and role-specific training enhances learning effectiveness and engagement.Episode SummaryIn this episode, we talk with Luis Garcia, the president of Pete Learning, a company that utilizes AI to revolutionize workforce development. Founded in July 2023, Pete Learning recently raised $2 million in seed financing and employs a diverse team of 12 people. Luis explains how AI can create personalized and efficient training programs, making high-quality learning accessible to smaller companies.Luis discusses the significant impact AI has on speeding up the onboarding process and enhancing employee performance. By automating the translation of expertise into training content and leveraging simulations for assessment, Pete Learning's AI-driven platform ensures employees reach peak performance quickly. The conversation also explores the broader implications of AI in the workplace, highlighting its potential to assist and augment human roles rather than replace them.Notable Questions We AskedQ: How do you see AI being integrated into workforce development and changing the way we train employees?A: AI makes personalized training affordable and efficient, enabling smaller companies to create comprehensive learning programs that accelerate employee readiness and performance.Q: What are the key benefits of using AI in training programs?A: AI-driven platforms reduce the time needed for onboarding and ensure employees reach peak performance faster by creating personalized, role-specific training content and using simulations for assessment.Q: How does Pete Learning’s AI platform work in creating training content?A: The platform automates the process of translating expertise into training materials, bypassing the need for a human instructional designer, and places these courses into a centralized learning management system for easy access and tracking.Q: Do you see AI replacing jobs, or is it more of an assistant to enhance roles?A: AI will augment human roles by making people more efficient, potentially reducing the number of employees needed for certain tasks while creating opportunities for new roles and more complex problem-solving activities.Q: What future changes do you foresee in the workplace with the integration of AI?A: AI will transform various business aspects by enabling quick data analysis and decision-making, leading to a more resilient and efficient business environment, with personalized training playing a crucial role in this transformation.Chapters00:00 Intro00:07 Company Stats00:33 AI in Workforce Development03:00 Future of AI in the Workplace09:17 Connect with PETE LearningOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍

Company StatsFounded: 2006Employees: 100+Episode Highlights✅ AI serves as a tool to augment intelligence, improving productivity and efficiency.✅ Effective AI integration involves using it for data analysis, research, and marketing, while maintaining human elements in content creation.✅ Success in the AI industry requires continuous learning and adapting to new technologies and trends.Episode SummaryIn this episode, we speak with Rajeev Kapur, CEO of 1105 Media, a B2B marketing and media company. Rajeev shares insights on the integration of AI into business and its impact on the workforce. He emphasizes that AI should be seen as a tool to augment intelligence rather than replace humans, helping businesses save time and increase efficiency.Rajeev discusses how 1105 Media uses AI for data analysis, research, and marketing while ensuring the human touch remains in content creation. He also talks about his book, "AI Made Simple," which aims to educate the public on generative intelligence. The conversation highlights the importance of strategic AI implementation and continuous learning to stay ahead in the technology sector.Notable Questions We AskedQ: How do you see AI being integrated into business and changing the way we work?A: AI serves as a powerful tool to augment intelligence, making businesses more productive and efficient by saving time and enhancing various processes.Q: What are some practical applications of AI in your business?A: We use AI for data analysis, marketing, and research, but we avoid using it for content creation to maintain the human element in our work.Q: Can you tell us about your book "AI Made Simple"?A: The book is a beginner's guide to generative intelligence, aimed at educating the public on AI basics and how to use tools like ChatGPT effectively.Q: What strategies helped your book become a bestseller on Amazon?A: Key strategies include launching a Kindle version at a low price initially, gathering reviews, and using print-on-demand for paperbacks to manage inventory efficiently.Q: How has your book contributed to your business at 1105 Media?A: The book has led to speaking engagements and increased visibility, helping to connect with potential clients and partners in the B2B marketing and media industry.Chapters00:00 Intro00:14 Company Stats00:45 Will AI Replace Us?02:57 AI in Business: Practical Applications04:08 AI Made Simple: The Book05:28 Secrets to Becoming a Bestseller on Amazon09:21 Connecting with RajeevOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDIN

✅ Fair and competitive compensation is essential for motivating salespeople and aligning with organizational strategy.✅ Salespeople have diverse personalities; understanding this helps in effective compensation and motivation.✅ Effective sales compensation involves understanding market size, win rate, and translating these into appropriate compensation levels.Episode SummaryIn this episode, we chat with Christopher Goff, founder of Sales Comp Guy, a company dedicated to helping small and medium-sized organizations optimize their sales compensation strategies. Christopher shares insights on compensating and motivating salespeople, emphasizing the importance of fair and competitive compensation aligned with the company's strategy and culture.Christopher discusses the diverse personalities of salespeople and how tailoring compensation plans to these differences can lead to greater effectiveness. He also highlights key topics from his book, "Starting Simple Sales Compensation," which serves as a guide for businesses new to hiring and compensating sales staff. Throughout the conversation, Christopher stresses the need for continuous evaluation and adjustment of compensation plans to ensure they remain effective and aligned with business goals.Notable Questions We AskedQ: What are the key components of a fair and effective sales compensation plan?A: A fair compensation plan should be internally equitable, market competitive, and aligned with the organization's strategy and budget.Q: How do different salesperson personalities affect their compensation and motivation?A: Salespeople have diverse personalities, and effective compensation plans consider these differences to align with their motivations and market needs.Q: What are some core topics covered in your book "Starting Simple Sales Compensation"?A: The book covers basic sales compensation principles, translating business metrics into compensation plans, and practical resources for pricing and job content.Q: How can business owners overcome the fear of paying salespeople more than themselves?A: Business owners should focus on whether salespeople are delivering the expected results and recognize that their compensation is front-loaded, unlike the owner's equity-based back-end gains.Q: Can you share a scenario where a sales compensation plan worked well and one where it didn't?A: In one scenario, salespeople successfully converted customers to a new platform, despite it being a challenging task, while in another, misalignment with market needs led to underperformance and required plan reevaluation.Chapters:00:00 Intro00:22 Understanding Sales Compensation01:19 Different Salesperson Personalities02:35 Insights from Christopher's Book04:14 Challenges in Sales Compensation09:33 Contact ChrisOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMa...

Company StatsFounded: 2020Funding Raised: $10 millionEmployees: 33 and hiring quicklyEpisode Highlights✅ Fathom uses AI to simplify meeting tasks, enhancing productivity and efficiency.✅ The company achieved virality through a free product model and strategic partnerships.✅ Fathom’s AI technology automates note-taking, CRM updates, and follow-up emails, revolutionizing meeting management.Episode SummaryIn this episode, Richard White, founder of Fathom, discusses the journey and vision of his AI meeting assistant technology company. Founded in 2020, Fathom has raised $10 million and grown to a team of 33. Richard shares his previous experience with UserVoice and how the challenges he faced there shaped his approach to Fathom.Fathom leverages AI to automate meeting tasks, making them more efficient and less burdensome for users. By offering a free product and leveraging strategic partnerships, such as being a launch partner for Zoom's in-meeting apps marketplace, Fathom achieved significant user adoption and virality. The AI-powered assistant takes notes, updates CRMs, and generates follow-up emails, allowing users to focus solely on their conversations during meetings.Notable Questions We AskedQ: How much funding has Fathom raised to date?A: To date, we've raised about $10 million.Q: How many employees does Fathom currently have?A: As of today, we have about 33 employees, and we're hiring quickly.Q: What was your previous company, and what happened there?A: My previous company was UserVoice, which I ran for about 12 years, growing it to $10 million in revenue despite early struggles like living out of a car.Q: How is AI impacting meetings and how people interact?A: AI, like open source software, is revolutionizing business by reducing the need for large teams. Fathom automates meeting tasks, making them more efficient.Q: What was Fathom’s go-to-market strategy, and did it achieve the expected virality?A: We offered a free product and leveraged strategic partnerships, achieving virality after improving onboarding and product reliability over 18 months.Chapters:00:00 Intro00:06 Company Stats00:24 Early Struggles and UserVoice Journey02:31 Transition to AI and Fathom's Vision04:32 Go-to-Market Strategy and Virality05:52 Product Evolution and User Adoption07:24 How to Try FathomOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDINTIKTOK

Company StatsFounded: 1954Revenue: Market cap grew from $1 million to $300 millionEmployees: 12Episode Highlights✅ DLMI focuses on security tokens to democratize investment opportunities.✅ The company aims to bring liquidity into commercial real estate through innovative financial mechanisms.✅ A strong, experienced team supports DLMI's vision and strategy for growth and shareholder value.Episode SummaryIn this episode, Brian J. Esposito, the founder of Esposito Intellectual Enterprises and CEO of Diamond Lake Minerals (DLMI), shares insights into his company's transformation and focus on digital assets and security tokens. Founded in 1954, DLMI has evolved significantly, growing its market cap from $1 million to $300 million under Brian's leadership. The company now positions itself as a leader in the regulated security token space, aiming to democratize investment opportunities for retail investors worldwide.Brian discusses DLMI's strategic focus on commercial real estate, leveraging security tokens to create liquidity and bring value to distressed assets. With a lean team of 12 core executive members and support from industry icons, DLMI is well-equipped to navigate the challenges and opportunities in this innovative financial landscape. Brian emphasizes the importance of protecting shareholder interests and continuously creating value through strategic partnerships and innovative solutions.Notable Questions We AskedQ: What was the market cap of Diamond Lake Minerals when you took over?A: The market cap was around $1 million, and it has now grown to $300 million.Q: How do you explain security tokens in simple terms?A: Security tokens are digital securities that follow the same regulatory guidelines as traditional securities but live on a blockchain ledger, offering proof of ownership and potential revenue or profit shares.Q: What industries is DLMI focusing on with its security tokens?A: DLMI focuses on commercial real estate, hospitality, consumer products, TV, film, media, and music, aiming to create liquidity and value in these sectors.Q: How does DLMI plan to bring liquidity to commercial real estate?A: By using security tokens to fractionalize ownership and attract global investors, DLMI aims to add value and improve occupancy in commercial properties.Q: What role does your team play in supporting DLMI's vision and strategy?A: The core executive team and advisors, who are industry icons, bring invaluable experience and support, ensuring the company's growth and success.Chapters00:00 Intro00:10 Company Stats00:44 The Rise of Security Tokens03:08 Understanding Security Tokens05:17 DLMI's Focus on Real Estate08:36 How to Get Involved with DLMIOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:

Company StatsFounded: January 2022Capital Raised: $8 MillionEmployees: 8Episode Highlights✅ Unify runs a contributor program to build an open-source community around AI models.✅ The company focuses on providing control over speed, quality, and cost for LLM applications.✅ Delegating ownership and responsibilities to team members fosters better decision-making and investment in the company's success.Episode SummaryIn this episode, Daniel Lenton, CEO of Unify, shares insights into the company's journey, community-building strategies, and the importance of team ownership. Founded in January 2022, Unify has raised $8 million and operates with a lean team of eight members. Daniel discusses the contributor program that Unify runs to foster an open-source community, allowing users to collaborate and learn while providing valuable feedback. The company targets sophisticated users looking to optimize their LLM applications for better speed, quality, and cost. Daniel also emphasizes the significance of delegating responsibilities to team members and remaining close to the core technical aspects to maintain a sharp understanding of user needs. He also touches on the pivot Unify made from unifying Python machine learning frameworks to focusing on AI model optimization, highlighting the importance of staying adaptable and problem-focused in a fast-moving industry.Notable Questions We AskedQ: How do you approach building an open-source community at Unify?A: We run a contributor program where top applicants work on various LLM challenges, participate in sync meetings, and join reading groups and webinars, fostering a collaborative environment.Q: Who are the target users for Unify, and what value do you provide them?A: Our main users are companies with existing LLM applications looking to optimize speed, quality, and cost. We also support beginners through our contributor program.Q: How do you ensure your team has full ownership and responsibility?A: By making decision-making democratic, giving team members significant responsibility, and fostering an inclusive environment for discussing the company's direction.Q: What lessons have you learned about delegation and micromanagement as a CEO?A: It's crucial to delegate responsibilities to avoid becoming a bottleneck and to stay involved in core technical aspects to maintain an understanding of user needs.Q: Can you share a challenging period for Unify and how you navigated it?A: We pivoted from unifying Python machine learning frameworks to AI model optimization, leading to difficult decisions, including team reductions. Staying problem-focused and adaptable was key.Chapters00:00 Intro00:32 Company Stats01:07 Building an Open Source Community02:19 Target Users and Value Proposition03:53 Delegation and Team Ownership07:10 Pivoting the Business Model10:37 Getting in Touch with UnifyOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍

Company StatsFounded: 1881Revenue: $10 million+Employees: 40+Episode Highlights✅ E. E. Ward focuses on customer experience to differentiate itself in the competitive moving industry.✅ The company has navigated economic challenges by sticking to its core business of household goods moving and office relocations.✅ E. E. Ward's legacy as the oldest continuously operating Black-owned business in the U.S. is a key part of its branding and customer trust.Episode SummaryIn this episode, Brian Brooks, President of E. E. Ward Moving and Storage, discusses the company's rich history, growth strategies, and focus on customer experience. Founded in 1881, E. E. Ward has grown to generate over $10 million in annual revenue with a seasonal workforce of 40-45 employees. Brian highlights the company's commitment to providing a stress-free moving experience, emphasizing the importance of clear communication and reliability. He also shares lessons learned from diversifying during the 2008 mortgage crisis and the impact of maintaining focus on core competencies. The company’s historical significance as the oldest continuously operating Black-owned business in the U.S. adds a unique element to its branding and customer appeal.Notable Questions We AskedQ: How does E. E. Ward differentiate itself in the competitive moving industry?A: We focus on customer experience, ensuring a stress-free move by maintaining clear communication and reliability throughout the process.Q: What was the impact of the 2008 mortgage crisis on your business, and how did you navigate it?A: The crisis hit us hard, and we mistakenly diversified into freight. We learned to stick to our core competencies, which helped us handle the challenges of COVID-19 more effectively.Q: How does E. E. Ward's legacy as the oldest continuously operating Black-owned business impact your branding and customer relationships?A: It adds credibility and reliability to our brand. Customers appreciate that we've been in business for 143 years and trust that we'll continue to be here.Q: Can you explain the structure of your customer service approach?A: Our process involves a salesperson, a move coordinator, and operations staff, all working in sync through our CRM system to ensure a smooth and well-coordinated move.Q: What are the key lessons you've learned about sticking to your core business?A: Focus on what you do best. Diversifying too quickly into unfamiliar areas can lead to costly mistakes. It's better to excel in a few things than to be mediocre in many.Chapters:00:00 Intro00:08 Company Stats01:13 Customer Experience Focus03:38 1881 Strong: Legacy and Branding04:48 Navigating Economic Challenges07:17 Connect with E.E WardOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMa...

Company StatsFounded: 1998 (roots tracing back to the 1920s as the Western Union Telephone Answering Service)Revenue: $65-$70 million annuallyEmployees: Approximately 1,500Episode Highlights✅ AnswerNet has successfully integrated multiple acquisitions to expand its services and client base.✅ Gary Pudles highlights that employees in the call center industry value security and recognition more than monetary compensation.✅ The company's core values, represented by the mascot Pat the Fat Duck, emphasize passion, attitude, teamwork, and kindness.Episode SummaryIn this episode, Gary Pudles, CEO of AnswerNet, discusses the company's growth strategy, which includes both internal sales and strategic acquisitions. Generating between $65 and $70 million annually, AnswerNet employs around 1,500 people. Gary emphasizes the importance of people management, maintaining core values, and making quick, balanced decisions. He shares insights into the challenges and opportunities of operating a large call center and BPO business, highlighting the need for employee security and recognition. Gary also talks about the pivotal moment when he bought out his partners and investors, leading to significant growth.Chapters00:00 Intro00:10 Company Stats00:39 Growth Through Acquisitions01:46 People Management Strategies05:55 Decision Making and Core Values07:51 Core Values10:38 Connect with AnswernetNotable Questions We AskedQ: What has been the impact of acquisitions on AnswerNet's growth?A: Acquisitions have played a big part in our growth strategy. We've grown through both internal sales and acquiring underperforming companies, bringing them into our platform to help them grow.Q: What are some key aspects of people management you focus on?A: It's important to learn from people at every level and keep arrogance out of the equation. People in call centers want security and recognition, and it's crucial to treat them with respect and appreciation.Q: Can you share a pivotal moment that significantly changed AnswerNet's trajectory?A: A major change was when my partners and I split, and I bought out all the investors, going out on a loan. Since then, we've tripled the size of the company from 2015 to now.Q: How do you approach decision-making in the company?A: My decision-making process involves considering if it makes economic sense, aligns with our core values, and its impact on people. It's a balance between making good business decisions, considering people, and staying true to our core values.Q: How did you develop and implement your core value system?A: In 2007-2008, we brought in Vern Harnish and implemented the Mission to Mars approach. We identified core values by recognizing the characteristics of people who represented the best of our company, leading to the creation of our mascot, Pat the Fat Duck, symbolizing passion, attitude, teamwork, detail-oriented, good communication, and being kind and likable.#CallCenterManagement #BPOIndustry #BusinessGrowth #PeopleManagement #CoreValues #Leadership #Outsourcing #CustomerService #CompanyCulture #BusinessStrategy

Company StatsFounded: Program in 1963, nonprofit organization in 1975Revenue: $31 millionEmployees: 45Voyagers: Operates two voyages per year, in fall and springEpisode Highlights✅ Semester at Sea generates $31 million in revenue annually.✅ The organization operates with a high fixed cost model, primarily driven by ship operations.✅ Scott Marshall emphasizes the importance of aligning personal ambitions with authentic career goals.Episode SummaryIn this episode, Scott Marshall, CEO of Semester at Sea, discusses the unique challenges and opportunities of running a nonprofit organization that combines elements of higher education and the cruise industry. Founded in 1963 as a program and established as a nonprofit in 1975, Semester at Sea has grown to generate $31 million in annual revenue with a team of 45 dedicated staff members. Scott delves into the complexities of their high fixed cost model, the impact of the pandemic on their operations, and the importance of staying true to their mission. He also shares personal insights about career ambition and the significance of following one's gut instincts.Chapters00:00 Intro00:08 Company Stats00:34 Operational Challenges and Opportunities04:36 Personal Insights06:33 Connect with Semester At SeaNotable Questions We AskedQ: How does Semester at Sea manage its high fixed cost model?A: Our ship operations account for 73% of our costs, and staff makes up 21%. This fixed cost structure works well in the nonprofit sector but would be tough in the private sector.Q: What are the main challenges of running a nonprofit organization like Semester at Sea?A: The complexity of combining study abroad, higher education, and cruise operations is challenging, but it ensures a clear purpose and meaningful impact every day.Q: How does Semester at Sea select and recruit students for its voyages?A: We partner with universities across the country and internationally, running two voyages per year. The program is self-selecting, appealing to students who want to study abroad and travel to multiple countries.Q: How did the pandemic affect Semester at Sea?A: The pandemic was extremely challenging, with no revenue for almost two years. We are slowly recovering, with a projected revenue of $32 million for the next fiscal year.Q: What personal lesson did you learn from not securing a leadership position at a previous job?A: I realized I didn't authentically want the position and failed to do a gut check. This experience taught me to align career ambitions with personal authenticity.#SemesterAtSea #NonprofitManagement #StudyAbroad #HigherEducation #CruiseIndustry #Leadership #MissionDriven #CareerAdvice #EducationalTravel #GlobalLearning

Company StatsFounded: 2019Users: More than 200,000 users, with over 7,000 on the paid tierEmployees: 12Episode Highlights✅ Hexact automates data collection and analysis, saving businesses valuable time.✅ Stepan Aslanyan leverages 20 years of entrepreneurial experience to drive Hexact's success.✅ Hexact's platform integrates with GPT, enhancing its data processing capabilities for users.Episode SummaryIn this episode, Stepan Aslanyan, co-founder of Hexact, shares his entrepreneurial journey and insights into building successful tech businesses. Hexact, founded in 2019, has grown to over 200,000 users, with 7,000 on the paid tier. The company specializes in workload automation, helping businesses with data scraping, collection, and analysis. Stepan discusses the challenges and successes of his various ventures, emphasizing the importance of adapting to market demands and the accidental nature of business exits. Hexact's integrates with advanced technologies like GPT to enhance its automation capabilities, making it a valuable tool for e-commerce and data-intensive businesses.Notable Questions We AskedQ: What inspired you to start Hexact?A: My entry into the tech business was very accidental. I saw the dot-com boom and decided to start an online store in Armenia.Q: How did you pivot from your first idea to focusing on web development?A: After realizing the demand for websites, I shifted from e-commerce to selling websites. Over seven years, we became the biggest web development company in Armenia.Q: What lessons did you learn from your initial e-commerce venture?A: I learned that timing and market readiness are crucial. Launching an online shop in Armenia in 2001, with limited internet access, was premature.Q: How do you identify when it's time to sell a business?A: It's never planned. You start with an idea and a problem to solve. The decision to sell comes when you realize it's the right time to move on.Q: What are the core problems that Hexact is solving?A: Hexact allows users to delegate repetitive tasks related to data collection and data analytics, especially in e-commerce and research-intensive areas.Chapters:00:00 Intro00:06 Company Stats01:16 Stepan's Entrepreneurial Journey04:03 Insights on Business and Exits06:08 Contact Hexact#Entrepreneurship #TechStartups #Automation #DataAnalytics #BusinessGrowth #Ecommerce #WorkflowAutomation #StartupSuccess #Innovation #TechSolutions

Company StatsFounded: 2017Revenue: $11.5 millionEmployees: 200+Episode Highlights✅ HypeAuditor ends 2023 with $11.5 million in revenue, showing significant growth.✅ Influencer marketing requires products that appear natural on social media for effective promotion.✅ Successful influencer campaigns often involve a mix of micro, mid-sized, and celebrity influencers for maximum impact.Episode SummaryIn this episode, Alexander Frolov, co-founder of HypeAuditor, discusses the evolution and impact of influencer marketing. Founded in 2017, HypeAuditor achieved $11.5 million in revenue by the end of 2023, with a team of around 200 employees. Alexander emphasizes the importance of having products that look natural on social media to succeed in influencer marketing. He explains how brands can effectively approach and incentivize influencers by offering not just money but also interesting products. Additionally, Alexander shares insights into building successful influencer campaigns by leveraging a mix of influencers, from micro to celebrity, to achieve the desired reach and engagement.Notable Questions We AskedQ: What year did you found HypeAuditor?A: 2017 is the date of foundation, but we made several mistakes in the beginning and then pivoted. HypeAuditor was launched in 2018.Q: What's the current revenue of the business?A: We ended 2023 with 11 and a half million in revenue.Q: How many employees does it take to run an 11 and a half million dollar business?A: It's close to 200 employees.Q: Who is the right fit for influencer marketing? What kind of business do I need to have?A: Your product should look natural in social media. Industries like beauty, fashion, food and beverages, and e-commerce see a lot of success with influencer marketing.Q: How do I approach an influencer and incentivize them to do a good job?A: Approach influencers as humans and creators, not just business units. Offering cool products and building a personal relationship can incentivize them beyond just monetary compensation.Chapters:00:00 Intro00:07 Company Stats00:33 Understanding Influencer Marketing03:12 Approaching and Incentivizing Influencers04:56 Tools and Strategies for Influencer Marketing06:23 Budgeting and Scaling Influencer Campaigns09:00 Connect with HypeAuditorOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDINTIKTOKFACEBOOK #InfluencerMarketing #DigitalMarketing #SocialMediaStrategy #ContentCreation...

Episode Highlights:✅ Joe Eisner transitions from Amazon to founding Ronin Advisors, focusing on direct customer engagement.✅ Guerrilla marketing tactics, like hosting partner events, prove highly effective for customer and partner engagement.✅ Learning from past failures, Joe identifies timing as crucial for the success of innovative solutions.Episode Summary:In this episode, we talk with Joe Eisner, principal of Ronin Advisors, about his journey from Amazon to founding his strategic advisory firm. Joe shares insights on the importance of direct customer engagement and the effectiveness of guerrilla marketing tactics, such as hosting partner events. He discusses his experiences working with a wide range of clients, from technology ISVs to large private equity firms. Joe also highlights a significant lesson from his past failures—understanding the right timing for market readiness is crucial for the success of innovative solutions. He concludes by discussing his new venture in AI, aimed at optimizing and simplifying the sales process.Notable Questions We Asked:Q: What brought you into the space of strategic advisory?A: After five years at Amazon, I wanted to work directly with customers again. I started my advisory practice soon after leaving AWS.Q: What range of clients have you worked with over the years?A: I've worked with technology ISVs with $1M in revenue to large private equity firms making tens of billions annually, needing advice on strategic acquisitions.Q: How important has guerrilla marketing been throughout your journey?A: Guerrilla marketing has been crucial, especially at Amazon, where we used creative tactics like hosting partner events with limited budgets to drive engagement and co-promotion.Q: What is your failing to success story?A: One profound lesson came from a wearable device startup I co-founded in 2001. Despite solving a real problem, the market wasn't ready, teaching me the importance of timing.Q: How is your new AI startup different from your past ventures?A: My new AI startup focuses on optimizing the sales process. Learning from past mistakes, I've ensured there's a clear demand and market readiness for this solution.Chapters:00:00 Intro00:11 Joe's Journey to Strategic Advisory00:46 Client Range and Experiences01:15 Guerrilla Marketing Tactics03:26 Challenges and Lessons Learned06:52 New Ventures and AI Innovations08:04 Contact Joe#StrategicAdvisory #GuerrillaMarketing #Entrepreneurship #BusinessGrowth #CustomerEngagement #Innovation #AIVentures #SalesOptimization #MarketTiming #BusinessLessons

Company StatsCapital Raised $5.5 million Episode Highlights✅ The construction industry faces a workforce crisis with 41% retiring in the next seven years.✅ Learning from failure is crucial for success; success can be a misleading teacher.✅ Building a synchronized, complementary team is essential for startup success.Episode SummaryIn this episode of "Failing to Success," we welcome Shreesha Ramdas, the CEO of Lumber, a startup focused on construction workforce management. Shreesha shares how Lumber raised $5.5 million in a seed round to address the critical workforce crisis in the construction industry. With 41% of workers set to retire in the next seven years and younger workers not entering the industry at the same pace, Lumber aims to tackle this significant challenge. Shreesha discusses the lessons learned from his previous startups, emphasizing the importance of viewing failure as data and the necessity of building a synchronized team. His insights into maintaining velocity during uncertain times and iterating to solve problems offer valuable guidance for entrepreneurs.Notable Questions We AskedQ: How much money did you raise for this startup?A: We raised $5.5 million in a seed round last year.Q: What motivated you to start Lumber?A: The construction industry faces a serious workforce crisis, with 41% of workers retiring in the next seven years and a slow influx of younger workers.Q: What are some key lessons you've learned from your previous startups?A: Viewing failure as data, understanding the importance of team synchronization, and maintaining velocity during uncertain times.Q: How do you go about building a strong team?A: By identifying top performers, ensuring team chemistry, and maintaining a network of skilled professionals across various functions.Q: How can listeners get in touch with Lumber or learn more about your mission?A: Visit our website at www.lumberfi.com or connect with me on LinkedIn.Chapters00:00 Intro00:13 Company Stats00:31 Challenges in the Construction Workforce01:40 Lessons from Previous Startups05:36 Building a Strong Team07:22 Connecting with Lumber#ConstructionIndustry #WorkforceManagement #StartupSuccess #Entrepreneurship #Innovation #Leadership #TeamBuilding #BusinessGrowth #StartupLessons #FailingToSuccess

Company StatsRevenue: $50 Million+Employees: 1,000+Founded: 1900 Episode Highlights✅ Vummidi Bangaru Jewelers has over 1,000 employees and $50 million in revenue.✅ The company is expanding from India to the U.S., starting with a flagship showroom in Texas.✅ Transitioning cultural approaches from India to the U.S. market has been a unique and educational experience.Episode SummaryIn this episode of "Failing to Success," Scott Bates, CEO of Vummidi Bangaru Jewelers, shares the remarkable journey of the oldest and largest luxury jewelry brand in southern India as it expands into the U.S. market. With over 1,000 employees and a revenue exceeding $50 million, Vummidi Bangaru Jewelers recently opened its first flagship showroom in Texas. Scott discusses the challenges of transitioning the business to the U.S., the importance of melding Indian and American cultures, and the lessons he has learned from his diverse career background. The company's future plans include expanding into Northern California and Virginia, emphasizing the importance of in-person shopping experiences for luxury jewelry.Notable Questions We AskedQ: How many employees does Vummidi Bangaru Jewelers have currently?A: We have over 1,000 employees and are continually growing.Q: What is the revenue of the business?A: Over $50 million.Q: How did you get involved with Vummidi Bangaru Jewelers?A: I was recruited for my background in jewelry, diamonds, marketing, and management, and was selected after several meetings and a trip to Chennai.Q: How has the transition of the business to the U.S. market been?A: It's been unique and educational, integrating Indian and U.S. cultures to cater to a younger demographic of Indian-Americans.Q: Do you plan to expand throughout the U.S. with multiple showrooms?A: Yes, we're looking at markets in Northern California, Virginia, and more locations throughout the U.S.Chapters00:00 Intro00:10 Company Stats00:46 Scott's Journey to Vummidi Bangaru Jewelers01:12 Transitioning Cultures: India and the US02:04 Scott's Career Before Jewelry04:27 Entering the Jewelry Industry05:56 Expansion Plans and Customer Experience07:52 Connect with VummidiOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDINTIKTOKFACEBOOK

Company Stats:Founded: 2007Revenue: Just under 20 millionEmployees: Under 40Episode Highlights:✅ We started DevHub in 2007, now generating just under 20 million in revenue with fewer than 40 employees.✅ Licensing our software to media companies was a game-changer, leading to significant growth.✅ Focusing on franchise markets reveals the importance of local marketing and multi-location strategies.Episode Summary:In this episode, we speak with Mark Michael, founder of DevHub, who shares insights on scaling a business to just under 20 million in revenue with fewer than 40 employees. Mark discusses the journey of founding DevHub in 2007, the initial challenges, and the pivot to licensing software to media companies. He emphasizes the importance of understanding market needs and finding the right niche. The conversation also delves into the value of websites, especially during the pandemic, and how focusing on franchise markets has allowed DevHub to thrive. Mark offers valuable advice on acquiring companies and the significance of client relationships in driving growth.Notable Questions We Asked:Q: What year did you found DevHub, and how much revenue have you built it up to now?A: Founded in 2007, DevHub has grown to just under 20 million in revenue.Q: How many employees does it take to run a business generating 20 million in revenue?A: DevHub operates with under 40 employees.Q: What was the turning point for DevHub in realizing the value of your platform?A: The pandemic highlighted the importance of websites, as businesses needed to maintain their online presence, making our platform more valuable.Q: Why did you decide to focus on the franchise market?A: Focusing on franchises allows us to target a broader audience, emphasizing local marketing and multi-location strategies.Q: What insights can you share about acquiring a company for growth?A: Acquiring a company is a significant step that involves being respectful and understanding the legacy of the business you're taking over. It's about continuing their legacy in a new world while advancing your own company.Chapters:00:00 Intro00:09 Company Stats00:27 Early Challenges01:17 Pivoting and Licensing Software04:24 Focus on Franchise Market08:11 Acquisition Strategy and Insights11:21 Connect with MarkOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDINTIKTOKFACEBOOK#BusinessGrowth #Entrepreneurship #FranchiseMarketing #TechStartup #SoftwareLicensing

Company StatsCapital raised: Over $22 Million, including angel investors and grants ($9 Million).Employees: 6 (35 during technology development)Founded: 2012Episode Highlights✅ Innovation in grant acquisition by developing groundbreaking technology.✅ Microbiome's critical role in human health and disease prevention.✅ Revolutionary approach to microbiome mining with large-scale technology.Episode SummaryIn this episode of "Failing to Success," we welcome Ross Youngs, founder of Biosortia, to discuss the innovative process of raising grants and the transformative technology in microbiome mining. Ross reveals how Biosortia has secured around $9 million in grants and over $22 million in total capital. He explains the critical role of the microbiome in human health, noting that we have more microbial cells than human cells. Biosortia's groundbreaking technology enables large-scale extraction and analysis of untapped microbes, paving the way for significant advancements in therapeutics, agriculture, and more. This technology could revolutionize our understanding and application of microbiome science.Notable Questions We AskedQ: How much money have you raised in grants for your business?A: Around $9 million.Q: What is the total capital raised for Biosortia?A: Over $22 million, including angel investors and grants.Q: How do you raise such significant grant funding?A: By developing innovative technology that catches the attention of granting agencies looking to support next-generation technologies.Q: What is microbiome mining?A: It's the process of extracting and analyzing microbes at a large scale and quality to discover untapped molecules and enzymes that have vast potential applications.Q: How do microbes impact human health?A: Microbes outnumber human cells and genes, playing a crucial role in disease courses, inflammation, and overall health, making them vital for therapeutic opportunities.Chapters00:00 Introduction to Ross Youngs and Biosortia00:16 The Financial Journey: Grants and Capital Raised00:56 Exploring the Microbiome: Untapped Microbes and Technology03:34 The Revolutionary Approach to Microbiome Mining04:59 The Impact of Microbiome on Human Health and Beyond05:57 Scaling Up: The Future of Microbiome Mining08:16 Closing Remarks and How to Learn More#Microbiome #Innovation #Biotechnology #GrantFunding #HealthTech #DrugDiscovery #Sustainability #MicrobialEcology #Startups #ResearchAndDevelopment

Company StatsRevenue: $10 Million Patents Held: 3 Episode Highlights✅ Customer discovery and validation are crucial for successful inventions.✅ Filing patents requires hands-on work and strategic narrow focus.✅ Sustainability and reliable sourcing are key concerns in the electrification transition.Episode SummaryIn this episode of "Failing to Success," we delve into the journey of Cory Hewett, a prolific inventor and entrepreneur in the electrification sector. Cory shares insights on generating over $10 million in revenue from his inventions and the importance of rigorous customer discovery in validating business ideas. He emphasizes a hands-on approach to filing patents, highlighting the strategic decision to focus narrowly to ensure defensibility. Corey also explores the significance of sustainable and reliable sourcing of materials for electric vehicles, emphasizing the need for innovative solutions in the electrification transition. His journey from vending machine challenges to groundbreaking patents offers valuable lessons for aspiring inventors and entrepreneurs.Notable Questions We Asked:Q: How much revenue have your products generated?A: Comfortably over $10 million in total revenue.Q: What is your process for taking an idea and deciding it's worth pursuing commercially?A: The biggest factor is customer success; validating that people need and want the invention.Q: How hands-on are you with filing patents?A: Very hands-on; initially did most of the work ourselves due to limited funds and later worked with a great attorney.Q: What was the unique challenge your inventions addressed?A: Creating a device that could last a decade on a single battery charge and communicate with any iPhone without user setup.Q: How do you approach sustainability in the electrification transition?A: Focus on reliable sourcing of materials, considering environmental and geopolitical factors to ensure sustainable production.Chapters00:00 Intro00:09 Company Stats00:28 Decoding the Invention Process01:47 Navigating Patent Challenges02:49 Innovations in Electrification and Technology04:51 Exploring Electric Vehicles and Material Science07:37 Venturing into New Business Horizons09:07 Connecting and Sharing InsightsOUR WEBSITEListen on:YOUTUBEAPPLE PODCASTS‍SPOTIFYAMAZONAdd us on:INSTAGRAMLINKEDINTIKTOKFACEBOOK#Innovation #Entrepreneurship #CustomerDiscovery #PatentStrategy #Electrification #Sustainability #ElectricVehicles #MaterialScience #StartupJourney #BusinessInsights