421: Why People Pay for Time Not Software with Rishi Mandal of Future

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 10 August 2022

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What's the secret to sustain healthy behaviors like exercise, diet, and stress management? Coaching. Rishi Mandal discovered this while researching the challenges of America's health crisis. So, he started Future, an online coaching platform that connects everyday people to coaches to receive custom one-on-one health training. Since 2017, Rishi and his team have raised $120M in funding and built Future into the largest employer of coaches and trainers in America. Most importantly, they've garnered a retention rate unheard of in the health and exercise industry. Listen to Nathan and Rishi discuss: Why his childhood was all about inventing Lessons from his first 2 businesses, Slide and Sosh Getting the price point to work for Future Building the company in problem-solving phases Why retention is the most critical factor for success Why customers pay for people's time, not software The decision to vertically integrate with their coaches And much more subscription business advice… Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode. Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs. Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now... For more Foundr content, follow us on your favorite platform: Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

Transcript

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0:00.0	Hey Founder, fan, before we dive into another incredible conversation, I want to share something
0:05.3	really special with you. Whether you're just joining us or you've been following us since the
0:09.6	beginning, you've been a critical part of our community working to change entrepreneurial
0:14.0	education. I started Founder almost a decade ago with the mission to provide entrepreneurs
0:19.8	access to the world's greatest business
0:22.2	leaders. Our goal was to break down barriers to entrepreneurial education and that's taking
0:27.4	us on a journey from Founder magazine to this podcast and beyond and today marks the next step
0:33.5	in that journey, Founder Plus. I'm proud to introduce you to Founder Plus, which is an all-access
0:39.7	pass to each of our online courses and programs and their proven frameworks for success.
0:45.9	It puts every strategy we've compiled from world-class instructors at your fingertips while connecting
0:51.9	you to a global network of like-minded entrepreneurs.
0:55.9	Founder Plus will take your business to the next level for today and tomorrow.
1:00.5	So whether you've just joined our family or you've watched us grow from humble beginnings,
1:05.3	we're really thrilled to have you join us in this exciting new phase of making the founder brand
1:10.8	and this company
1:11.6	the world's best entrepreneurial community to launch and grow your business.
1:16.1	So finally, before we get into today's episode, I'm inviting you to come back,
1:21.2	check out Founder Plus and go to founder.com forward slash membership.
1:26.8	I'm really excited, guys. This is an incredible new
1:29.8	evolution of entrepreneurial education and our mission is really to get as many of these founders
1:36.1	that we interview to teach and also give back on the founder plus platform and really go more
1:42.0	in depth with the knowledge and the experiences and the lessons
	...

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