Økonomi & Business
Mike Salguero is the Founder and CEO @ ButcherBox, the meat delivery subscription service that he has scaled to $600M in revenue, 215 employees and the national leader in the space. All of this achieved while raising $0 of venture capital. Prior to ButcherBox, Mike was the Founder & CEO @ CustomMade, an online marketplace that, unlike ButcherBox, raised millions in venture funding from prominent VCs. In Today's Episode with Mike Salguero We Discuss: 1.) The Makings of a Great Entrepreneur: • How did Mike's father not being present in his childhood impact the type of leader he is today? • How does Mike's fear of abandonment show itself in his leadership style? • What does Mike know now that he wishes he had known when he started? 2. Consumer Subscription is Not a VC Backabale Business Model: • Why does Mike believe consumer subscription D2C businesses are not VC backable? • What are the biggest challenges of running a consumer subscription business? • Why did all the D2C food prep and delivery companies fail? What did they do wrong? • What happens to all the heavily funded D2C subscription companies of the last 5 years? • Why does Mike believe now is the hardest time ever to do D2C consumer subscription? 3. The Secret to Efficient Marketing: • How did ButcherBox scale to $50M in revenue with just one marketing channel working? • When should founders think about the second channel? How should they choose which one? • Why does Mike not like "brand marketing"? How did ButcherBox burn $8.5M on brand marketing? What are Mike's biggest lessons from doing this? • What emerging channel does Mike see as having the biggest potential over the coming years? • Why does customer acquisition increase with time? Why do elections cause it to increase? 4. The Economics of a $600M Revenue ButcherBox: • How much does it cost ButcherBox to acquire a customer? • What is their payback period on that customer? How has this change with time? • What is the single metric that drives the profitability of ButcherBox? • What are the single biggest points of margin in the business? • What is the lifetime value of a ButcherBox subscriber? • What are the single biggest points of churn in the customer lifecycle? 5. Venture Capital: To Raise or Not to Raise: • Why did Mike never raise venture capital for ButcherBox? • Has Mike ever sold secondary? Why not? • What would Mike most like to change about the world of venture capital? • What are his biggest lessons from raising VC with CustomMade? How did that impact how he approached building ButcherBox? • What does Mike believe all founders need to know about raising VC?
Release date
Lydbog: 5. april 2023
Økonomi & Business
Mike Salguero is the Founder and CEO @ ButcherBox, the meat delivery subscription service that he has scaled to $600M in revenue, 215 employees and the national leader in the space. All of this achieved while raising $0 of venture capital. Prior to ButcherBox, Mike was the Founder & CEO @ CustomMade, an online marketplace that, unlike ButcherBox, raised millions in venture funding from prominent VCs. In Today's Episode with Mike Salguero We Discuss: 1.) The Makings of a Great Entrepreneur: • How did Mike's father not being present in his childhood impact the type of leader he is today? • How does Mike's fear of abandonment show itself in his leadership style? • What does Mike know now that he wishes he had known when he started? 2. Consumer Subscription is Not a VC Backabale Business Model: • Why does Mike believe consumer subscription D2C businesses are not VC backable? • What are the biggest challenges of running a consumer subscription business? • Why did all the D2C food prep and delivery companies fail? What did they do wrong? • What happens to all the heavily funded D2C subscription companies of the last 5 years? • Why does Mike believe now is the hardest time ever to do D2C consumer subscription? 3. The Secret to Efficient Marketing: • How did ButcherBox scale to $50M in revenue with just one marketing channel working? • When should founders think about the second channel? How should they choose which one? • Why does Mike not like "brand marketing"? How did ButcherBox burn $8.5M on brand marketing? What are Mike's biggest lessons from doing this? • What emerging channel does Mike see as having the biggest potential over the coming years? • Why does customer acquisition increase with time? Why do elections cause it to increase? 4. The Economics of a $600M Revenue ButcherBox: • How much does it cost ButcherBox to acquire a customer? • What is their payback period on that customer? How has this change with time? • What is the single metric that drives the profitability of ButcherBox? • What are the single biggest points of margin in the business? • What is the lifetime value of a ButcherBox subscriber? • What are the single biggest points of churn in the customer lifecycle? 5. Venture Capital: To Raise or Not to Raise: • Why did Mike never raise venture capital for ButcherBox? • Has Mike ever sold secondary? Why not? • What would Mike most like to change about the world of venture capital? • What are his biggest lessons from raising VC with CustomMade? How did that impact how he approached building ButcherBox? • What does Mike believe all founders need to know about raising VC?
Release date
Lydbog: 5. april 2023
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