Nathan Chan launched Foundr, a fast-growing digital media firm, in March 2013. Today, it is a dynamic and successful corporation.
To learn how the company has defied the obstacles and achieved this phenomenal development in such a short period, it is necessary to examine the founder’s source of inspiration.
|Company Name||Foundr Media|
|Key People||Nathan Chan – CEO & Publisher, Nicholas Ho – Head of Strategy & Operations, Alisha Conlin – Sales Funnels & Conversion Manager, David Hobson – Digital Strategy & Growth Manager, Krystal Street – Executive Assistant and Talent Lead|
|Headquarter||Melbourne, Victoria, Australia|
|Company Revenue||$2.07 million (yearly estimate)|
|Key Competitors||Luxe Beat Magazine, CHART Exchange, StepMom Magazine, Business View Magazine, and Corporate Vision Magazine,|
Foundr is a worldwide digital media institution niching on entrepreneurship. It teaches and motivates today’s entrepreneurs to become business icons of tomorrow.
Nathan Chan, the founder, appeared seemingly out of nowhere at the beginning of his business journey.
Early on, he wasn’t the best student in the class. He failed many classes at his university. A few years later, he was dedicated enough to earn a Master’s Degree in Marketing, but nothing came of it.
Despite his Master’s degree, he could not secure a professional job. As a result, Nathan was forced to work as an IT support specialist for a travel firm, a job he despised.
You might say Nathan’s life has practically come to a halt. Then, he came upon Tim Ferris’s 4-Hour Workweek. He read the book while he saw his buddy was making six figures from the business, and that’s how Nathan started his story.
With only $3K in his wallet and no knowledge of publications, advertising, content, interviews, mobile applications, or designs, Nathan restlessly started to work on it.
Through his committed effort, the result started to yield gradually. Nowadays, Foundr is used by over a million people every month.
The truth is Nathan could quit his full-time job and live off his firm’s earnings after only a year in business.
How Does Foundr Work and What Does it Offer?
Foundr Magazine is an outstanding publication and educational platform that offers unique material that guides business owners on how to flourish.
This virtual journal has thousands of subscribers on its email list and over 3.5 million Instagram followers. In addition, the firm enables greater exposure to entrepreneurial orientation by making it available to the general public.
Whatever the future holds for the company, the firm’s early success offers a heartening success story for any ambitious entrepreneur who wants to go against all odds.
Founder links large numbers of people with top renowned founders.
Through videos, podcasts, writing content, and online publications, Foundr distills these leaders’ legendary methods and perspectives into practical, resourceful material, allowing our global community of entrepreneurs to establish and expand the next age of famous enterprises.
Setting up a business is challenging, regardless of who you are or what sector you choose to enter. You are never just provided a sufficient and sequential manual. Typically, you stumble on your experiment until you find the right methods that work for you; otherwise, you may fail.
In the beginning, Nathan may not have understood much about media or publications, but he didn’t waste time bumbling about it.
The company’s founder has truly overcome the odds and defied market trends. And it was founded purely on a monthly subscription.
This is the digital era, and the Internet can teach you whatever you want for free.
Nonetheless, the corporation has grown to be a million-dollar corporation, largely owing to paying clients.
Foundr is well-known for conducting high-quality interviews with Richard Branson, Seth Godin, Tim Ferriss, Arianna Huffington, and many more who have previously graced the digital magazine’s typeface cover.
These exceptional interviews have provided readers with information that they would not be able to get with a simple Google search.
The unique selling proposition that propels Foundr’s growth is its compelling content. Below are the extra works that the company’s initiator offers to its fan base.
1. Run With Passion
It is impossible to succeed at something you don’t care about. In Nathan’s situation, he pursued his digital marketing and entrepreneurship interests. He recognized what he was passionate about and used it as the foundation to build his business venture.
Despite the skeptics, he pursued his ambition, market trends, and odds. He focused on his priority and blocked out all the white noise.
2. Fill The Gap
Finding a gap or niche inside the industry is critical to breaking into it. Nathan discovered a high demand in the market for written resources by and for young entrepreneurs. When he recognized this, he fixed the loophole by stipulating the missing service.
3. Stick To Deadline
Nathan realized he had no choice but to launch. He wasn’t sure when or how growth would arrive, but he understood that getting started was the key to everything else. He maintained his resilience.
Sticking to a deadline was key to the organization’s incredible triumph. The founder established a deadline and, more crucially, met it.
He mentioned that he only had two subscribers when releasing his magazine issue for the first time, but he started. After then, things started to get out of hand.
4. Collaborate Proactively
Nathan was well aware that reporters would not simply appear in his doorway. He realized he needed to go out and cultivate connections strategically. Rather than going straight to the source, he conducted research to acquire access to each interview target’s gatekeeper.
Nathan also made certain that everyone benefited. He understood the significance of a symbiotic relationship—interviews couldn’t merely benefit Foundr. They have to be beneficial to the respondent as well.
5. Investment In Social Networking Sites
Foundr would not be where it is now without the incredible power of social media. Nathan recognized early on that effective strategy implementation was critical to the overall success of his business.
He chose Instagram after studying the social environment due to its free service and potential to draw massive traffic. He poured his full attention into the video and photo-sharing site. Because of this intensive involvement, he amassed over 800,000 followers in such a short period.
Foundr makes money through digital marketing, memberships, and affiliate links.
For example, its Instagram account has 3.5 million followers. As we all know, Instagram influencers with a large following may charge a significant fee to distribute sponsored content. Its magazine has a very high user engagement of 1%.
Accounts in this category may charge anything from $2 to $3.50 per thousand followers or even more. This digital magazine could charge $5.66 thousand for a single post with this massive number.
However, the cost might be significantly greater in many circumstances, reaching as much as $11.32 per thousand followers.
If the corporation simply published one sponsored update per day, the account could generate $4.13 million yearly.
You will be better prepared for the newest transformation if you undertake a SWOT analysis of the media sector, examining its strengths, weaknesses, opportunities, and threats, whether your objective is to launch your own media organization or understand the media’s business model.
- Compelling Artworks: Foundr’s cover visuals are on point, on brief, and on-brand. They typically convey strong satiric sentiments and depict current events, adding premium material to the magazine.
The company always came up with an irreplaceable approach to decorating its digital magazine, displaying its cover in a stunning custom.
- Insightful Publication: The magazine has portrayed itself as a media that collects game-changing advice from founders who made millions.
Their purpose is to not just aggregate news but to do so objectively. It gives various perspectives on a single interview piece insightfully to avoid bias and misconceptions.
- Diverse Entrepreneurial Portfolio: The magazine’s founders’ portfolio is diverse. Its production is wide, with each item tailored to the demands of a certain target group.
- Ongoing Initiatives: The company must ensure that online interactions are continually sustained in a fragmented digital market environment.
- Competition In A Decentralized Competitive Marketplace: With a large number of direct and indirect substitutes, ranging from written articles to videos, and especially social media, the firm requires various marketing strategies and enthralling business control to distinguish oneself in the long run.
- Evolving Market Trends: Every rising trend, whether it is bad or positive, has the potential to be a fantastic source of material.
When it comes to trends or worldwide events, news networks are the ones that get the greatest benefits. Furthermore, Foundr’s approach is flexible enough to compile entrepreneurial inspiration and accommodate new market trends.
- Collaboration With Prominent Entrepreneurs: Collaborating with high-profile business moguls can be a fantastic chance for a company’s growth and development. The firm can take advantage of enormous client bases from these influencing people.
- Fierce Competition: Even though Foundr is different from its competitors, there are still some formidable opponents out there. These institutions might have a large consumer base that trusts their favorite brand.
- High Substitutes: There are many powerful alternatives to the magazines on the market. These alternatives to magazines are both faster and more versatile than Founder. Social media platforms, for instance, are one news outlet that offers many advantages.