How to Win the Game of Consumer Subscriptions with Michael Hurnaus
Entrepreneurs on Fire
John Lee Dumas
4.8 • 4.1K Ratings
🗓️ 19 October 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
Michael Hurnaus previously worked for Microsoft and Amazon before founding Tractive - market leader in GPS Tracking and Health/Wellness Monitoring for cats and dogs. Michael also angel-invests in B2C subscription businesses.
Top 3 Value Bombs
1. Around 95 percent of success hinges on executing that idea well. The idea contributes only about 5 percent to startups and endeavors, while most of the outcome is determined by effective execution.
2. Pricing is vital for subscriptions, whether in your business or as an angel investor in others. The Choice Factory book is a great resource.
3. Reducing churn is crucial, perhaps even more than pricing. To lower churn, start by offering a fantastic product that engages users.
Check out Tractive's dog and cat trackers. Follow every step. Every minute. Everywhere - Tractive Website
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Transcript
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| 0:00.0 | Boom, shake the room, Fire Nation, JLD here, and welcome to Entrepreneurs on Fire, brought |
| 0:07.1 | to you by the HubSpot Podcast Network, the audio destination for business professionals |
| 0:11.7 | with great shows like iDigress. |
| 0:13.9 | Today, we'll be breaking down how to win the game of consumer subscriptions to drop these |
| 0:18.6 | vibe bombs. |
| 0:19.6 | I brought Michael, Hernos, and the EO Fire Studios. |
| 0:22.6 | Michael previously worked at Microsoft and Amazon before founding Tractive, the market |
| 0:27.5 | leader in GPS tracking and health and wellness monitoring for cats and dogs, and Michael |
| 0:32.4 | also angel invests in B2C subscription businesses. |
| 0:36.7 | And today, Fire Nation, we'll talk about the key piece in subscriptions that most people |
| 0:41.3 | get wrong. |
| 0:42.3 | We'll talk about churn, how to avoid it. |
| 0:44.4 | We'll talk about the hardware business when it comes to subscriptions, and so much more. |
| 0:48.7 | And a big thank you for sponsoring today's episode goes to Michael and ours, sponsors. |
| 0:53.5 | The Hustle Daily Show hosted by Juliet Bennett Ryla, Rob Litchers, Ben Berkeley, and Mark |
| 0:59.4 | Dent, is brought to you by the HubSpot Podcast Network, the audio destination for business |
| 1:03.5 | professionals. |
| 1:04.5 | The Hustle Daily Show brings you a healthy dose of irreverent off-beat informative takes |
| 1:08.6 | on business and tech news, like a recent episode on hackers versus casinos, where the hosts |
| 1:13.2 | talk about MGM resorts and Caesars entertainment and the devastating potential of cyberattacks. |
| 1:18.2 | Listen to the Hustle Daily wherever you get your podcasts. |
| 1:21.8 | Many EO Fire listeners have launched non-food franchises, and Frambridge Consulting has |
... |
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