Nathan Chan, founder of Foundr magazine. Nathan’s a master of Instagram who generates around 400 leads a day from the channel. He’s rocketed the Foundr app to the top of the app store, beating out Entrepreneur magazine and other competitors. Listen in as the two Nathans discuss building an unbeatable list, tips to win at Instagram, and whether Nathan would sell his business for $30 million today.
Famous Five:
Favorite Book? – Ready, Fire, Aim
What CEO do you follow? — Vishan Lakhiani
Favourite online tool? —SamCart
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be?—Party more
Time Stamped Show Notes:
01:10 – Nathan’s introduction
01:45 – Welcoming Nathan to the show
02:30 – Nathan’s already been featured on the show
03:10 – Instagram is probably the most valuable revenue driver that Foundr have
03:20 - Their account has around 700k followers
03:40 – Instagram account has generated around 150k email subscribers
05:25 – A VA generates the graphics: they recycle images from 6 months ago
06:20 – Use a tool called Latergram to queue posts
07:04 – The purpose of the Instagram account is to drive traffic and generate leads
07:30 – Capture around 300-400 leads each day from Instagram
08:55 – Nathan teaches an Instagram course
09:25 – The most lucrative funnel appears to be posting about Instagram on Instagram
09:50 – Nathan runs a live webinar every week
10:40 – 3 main revenue streams are from the online magazine; ebooks; and a membership site
11:40 – Courses and digital products are the main revenue generators
12:18 – Over 500k people have downloaded the magazine
13:10 – Nathan found his design team on Behance
14:02 – Foundr magazine is an authority-building product rather than a multi-million dollar product
15:00 – The magazine is making in the high six figures in revenue
15:15 – How does Foundr outrank Entrepreneur in the app store?
15:30 – “Look at keywords - the app name and description”
16:27 – ‘A young entrepreneur magazine” - hits multiple keywords
17:25 – Foundr has just started a weekly podcast
17:48 – Had around 70k downloads in April 2016
19:00 – Nathan would take $30 million for Founder magazine
19:58 – Hoping to have a 500k email list by the end of 2016
20:08 – The membership course - Foundr Club - has 400 paying customers
22:13 – The Famous Five
3 Key Points:
Online media isn’t just about publishing content. Build a community, build a list, and work social media for all it’s worth
Optimisation is about paying attention to the small things: Nathan started his app name with ‘A+’ to be at the top of alphabetical listings
Use social media to capture leads, not to push sales
Resources Mentioned:
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Show Notes provided by Mallard Creatives