428: Why Your Business Assumptions Are Wrong with Tim Fung of Airtasker
The Foundr Podcast with Nathan Chan
Release Date: 09/28/2022
The Foundr Podcast with Nathan Chan
After graduating from Harvard Business School alongside future tech giants like Mark Zuckerberg, Magnus Grimeland traveled the world as a consultant for McKinsey. After exploring Southeast Asia, he decided to lay down roots and leverage the region's enormous business potential. From 2013-2017, Grimeland built ZALORA into Southeast Asia's largest fashion ecommerce business. Now, he's supporting fellow founders through his latest business, Antler, a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. In the last 2 years, Antler made 190...
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Some might say Alex Bouaziz, cofounder and CEO of Deel, was simply in the right place at the right time. Deel, an international payroll, compliance, and HR solution, launched in 2019 and, by May 2020, raised $14M in funding. Currently, they have 8000 customers worldwide, including Dropbox, Airtable, and Shopify. But good timing will only get you so far. To launch and grow a company as successful as Deel takes leadership with a clear mission and a solid infrastructure. The idea was simple: Create a company that matched employers and talented workers from anywhere in the world and give them the...
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At 24, Guy Pearson turned down a partnership to start an accounting firm. His early clients were digital companies, and Pearson was jealous that there wasn’t an online commerce system for his industry. So in 2013, he launched a new company called Ignition to simplify and speed up the transaction process for professionals like him. To date, Ignition helped facilitate more than 1M client engagements and over $2B in client payments. Ignition has offices in Australia, Canada, New Zealand, Philippines, South Africa, US, and the UK, with over 170 employees globally. Listen to Nathan and Guy...
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Does the word “sales” make you squeamish or intimidated? If so, then this episode is for you. AJ Cassata is a maverick B2B sales consultant who helps entrepreneurs grow their businesses fast with his straightforward, systematic, and scalable approach to sales growth. His company, Revenue Boost, helps clients create a system for lead generation instead of just winging it. Listen to Nathan and AJ discuss: Starting in door-to-door sales as a teenager Persevering through failure in his first business Starting Revenue Boost to focus on lead generation Why...
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33 years ago, Brian Scudamore was sitting in a McDonald’s drive-thru when he saw his future–a beat-up pickup truck filled with junk. Scudamore started a junk-hauling business to pay for college, but what was supposed to fund his education ended up inspiring him to drop out. Today, Scudamore’s transformed his junk hauling side hustle, 1-800-GOT-JUNK?, into a North American franchise business worth $600M. People told Scudamore that it was impossible to franchise his business, but he’s proven them wrong by expanding his model into other brands like WOW 1 DAY PAINTING and Shack Shine....
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Airtasker is Australia's #1 marketplace for local services. Over the past decade, they've acquired more than 4.3M registered users, built a worth of $255M, created a $1.7B value of job opportunities, and went public. But founder Tim Fung still feels the pains from the first 3 years, when everything he assumed about the business was wrong. He's learned that through the victories and failures of scaling a startup, remaining focused on providing value over profit is what lasts. Listen to Nathan and Tim discuss: The importance of going all-in on a startup Starting a business...
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Davie Fogarty created Australia's fastest-growing ecommerce brand, The Oodie, which sells wearable blankets and accessories. But success didn't happen overnight. After multiple failed businesses, at 24 years old, Davie had a chip on his shoulder to prove he could succeed. So in 2017, he started 2 ecommerce businesses, and they both took off immediately. In the past 4 years, Davie has grown his company of 5 major brands called the Davie Group to $400M in sales. In this episode, you'll learn exactly what it takes to build an incredible ecommerce brand in 2022 and some of the pitfalls to...
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Jen Proctor loved being a performer. But when her dream to be a professional singer ended, she pledged to be a good person in the entertainment industry, something she knew wasn't a given. So in 2015, she launched her agency Cultivated Entertainment and works with clients like Meta, Pharrell, Drew Barrymore, the Obama Foundation, Stand Up for Cancer, and the Primetime Emmy Awards. She's built her agency based on the vision of seeing a need and filling it. So if you're interested in working with talent from actors to TikTok stars, this episode is for you. Listen to Nathan and Jen...
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Kendra Scott started her self-titled billion-dollar jewelry business out of failure. Her first business failed after 5 years, and she started selling handmade jewelry door-to-door as a side hustle. Now, Kendra Scott Jewelry is a billion-dollar business with 100 retail locations across the US. But success didn't come quickly. Through personal struggles, recessions, and rejections, Scott built a fashion business driven by an unforgettable customer experience. Listen to Nathan and Kendra discuss: What she learned from her failed business Fundraising and dealing with rejection...
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Michele Romanow joined the cast of CBC's Dragons' Den in 2014 after successfully selling her digital coupon business SnapSaves to Groupon. At 28 years old, she was the youngest "dragon" on the show, but that didn't stop her from innovating. During her second episode, Michele decided to flip the traditional Dragons' Den pitch from equity to revenue. The decision led to the creation of the investment company Clearco and the invention of the revenue-based financing category. The model helps fund ecommerce companies fast and affordable, where founders pay a set percentage only when...
info_outlineAirtasker is Australia's #1 marketplace for local services. Over the past decade, they've acquired more than 4.3M registered users, built a worth of $255M, created a $1.7B value of job opportunities, and went public. But founder Tim Fung still feels the pains from the first 3 years, when everything he assumed about the business was wrong. He's learned that through the victories and failures of scaling a startup, remaining focused on providing value over profit is what lasts.
Listen to Nathan and Tim discuss:
- The importance of going all-in on a startup
- Starting a business with 2 marketplaces
- The 90-day wakeup call for founders
- Inspiring users to use your product
- Sharing problems with your team
- Not putting off hard decisions
- Building a feedback muscle within your business
- And much more startup advice…
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