Ep#443 Nick Fogle: Insider Tips on Sustaining Business Growth with Nick Fogle

The Growth and Scaling Podcast with Todd Westra

Full episode here: https://links.growthandscaling.com/443

Join Us for Insider Tips on Sustaining Business Growth with Nick Fogle! In this video, we dive into the journey of Nick Fogle, CEO and founder of Churnkey, a cutting-edge company dedicated to boosting customer retention.

Discover how Nick transitioned from building a podcasting tool with significant churn issues, worsened by COVID-19, to founding Churnkey to tackle churn for subscription-based businesses.

Nick's highlights include shifting Churnkey's focus from small businesses to larger organizations facing severe churn problems, refining the product through multiple iterations, and securing funding that aligns with his vision for long-term profitability.

He shares his experiences dealing with high churn rates, market fit challenges, scaling issues, and the tough choices between bootstrapping and seeking funding. Tune in now to gain invaluable insights and strategies for sustaining business growth!

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Ways to connect with Nick Fogle:

🔗 https://churnkey.co/

🔗 https://twitter.com/churnkey

🔗 https://www.linkedin.com/in/nickfogle/

🔗 https://www.linkedin.com/company/churnkey/

What’s in this episode:

02:00 Who is our guest for today and what is his business

02:32 Why is customer retention the focus of his business

02:49 How did he first encounter the churn problem

04:13 What are reasonable attrition rates in different business models

06:14 Why is there a difference in churn between B2C and B2B

07:42 Why did he decide to solve churn problems for others

08:54 How did he confirm that his solution would work for other companies

09:43 What made him realize his current business was the right fit

10:23 Why did he choose to focus on a B2B market after selling his B2C business

11:27 How did he decide to transition to his second business

13:26 How did he evolve his approach to solving specific customer problems

13:47 What was the initial motivation for solving churn

14:07 How did he conduct market research to validate his business idea

15:05 What specific market is he targeting with his solution

18:26 What was his approach in choosing a funding partner

20:53 What challenges did he face, and how did he overcome them

23:30 How did he initially approach hiring for his company

24:14 What advice does he give about delegating tasks

24:42 How has delegating tasks helped him focus on the business

25:30 Where did he gain the insights to manage and grow his business

26:09 What role did his co-founders play in the success of his businesses

26:44 Who does he want to give a shout out to

27:00 How does he feel about the diverse expertise within his team

28:10 What is his final message to the audience

I highly suggest you watch this entire exchange between Nick Fogle, and ⭐️Todd Westra 📈

If you're looking for tips and strategies to grow and scale your business, this episode is for you!

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