There is no bigger topic when it comes to consumer sentiment than the rising demand and focus on Environmental, Social, and Corporate Governance related issues. Today we’re looking at this challenge from the perspective of a leading VC who has invested in some of the most iconic consumer focused, mission driven businesses.
Ira Ehrenpreis has been investing in companies that are committed to making a positive impact on the world for more than 20 years. A double bottom line investor, even before impact investing was cool, Ira has helped build the category and the discipline in venture capital. He currently serves as president of the Western Association of Venture Capitalists and co-chair of the VC Network. He's a founder at DBL Partners, which is perhaps the largest and most well-known impact investing and sustainability focused firm in the venture asset class. An early investor in companies like Tesla, The RealReal, SpaceX and Bellweather Coffee, Ira is a real visionary. He's also a longtime friend, and always inspiring.
I recently interviewed Ira for the inaugural D2C Summit, a new conference I cocreated with Global Media Association FIPP, and want to share that conversation with you here on the podcast. In it, he talks about bold innovation across sectors and D2C business models, and shares several examples of how companies are using a focus on impact as a strategic advantage. Welcome, Ira.
Subscription models are crazy powerful. Savvy small companies can easily deploy them to knock huge Goliaths off kilter. We’ve seen it in entertainment, software, hardware, news, retail, hospitality—the list goes on. In her podcast series, Robbie Kellman Baxter interviews the leaders of this revolution about how they’re using subscription pricing and membership models to redefine the biggest industries and generate predictable recurring revenue along the way. ...
“Our goal is to teach forever habits.” Joanna Strober has reimagined the youth weight loss industry through her wellness program, Kurbo. Tune in to hear Joanna talk with Robbie about the role of a human coach in a digital program, how to communicate with both parents and kids, and instilling habits in customers for the long term. Highlights from this episode: 7:00 – Joanna talks about what triggers people to enroll in subscriptions and what motivates people to make subscription a habit 9:52 – Robbie and Joanna talk about the 7 key areas of competence in a subscription business, and about why WW is more passionate about their subscription mission than their subscription product 16:40 – Joanna talks about Kurbo’s FOREVER PROMISE 17:24 – Kurbo’s “reverse freemium” model, and the power of breaking the mold when it comes to adopting a subscription model 19:50 — Robbie and Joanna talk about customer success, its importance, and what it looks like 23:50 – Joanna explains why human connection is essential and hints at Kurbo’s “Secret Sauce” 27:00 – Weathering negative social media storms 34:40 – The challenges of the launch, scale, and lead phases of growing a business 37:00 – Joanna gives advice to entrepreneurs who want to start a business in THE MEMBERSHIP ECONOMY and investors who want to fund a business in THE MEMBERSHIP ECONOMY 39:22 – Joanna gives advice to smaller companies undergoing acquisition by a larger company 40:20 – Robbie’s speed round Joanna’s Bio: Joanna Strober is an entrepreneur and investor who founded Kurbo, the first digital weight loss platform for kids. Joanna grew Kurbo into a subscription business so successful that it caught the interest of WW (Weight Watchers reimagined), one of the biggest names in wellness. She is ...
“Life is too short to play vacation roulette”. Brad Handler and his brother Brent are vacation entrepreneurs who incorporate membership and subscription into their luxury travel service, Inspirato. Brad joins Robbie to discuss the importance of “celebrating failure” when innovating, how a strategic approach to real estate and data give Inspirato a unique advantage, and the power of a “people-as-a-service” structure to create strong member relationships. Highlights from this episode: 2:08 – Brad introduces Inspirato’s affordable business model 5: 49 – Brad explains the two travel products and services offered: Inspirato Membership, and Inspirato Pass 10:04 – Hospitality vs. real estate in the vacation business, why Brad chose to focus on hospitality, and the importance of specialization in a company 11:03 – Brad and Robbie discuss subscription vs membership business models 12:25 – Inspirato’s forever promise, and why a membership mindset is so important 14:03 – Brad highlights the importance of planning for success in the entrepreneurial world 16:07 – How Inspirato uses technology to pull ahead of its competitors 16:65 – Brad and Robbie get into the “nitty-gritty” of Inspirato’s business model, and talk about Robbie’s 7 steps for optimizing subscription business models 18:45 – Brad introduces his philosophy of “celebrating failure” to promote innovation 21:03 – Inspirato’s most important metrics, and how data collection can transform and improve customer experience 26:30 – Brad and Robbie discuss Inspirato’s key to lasting members: a personalized onboarding process 31:08 – Why Inspirato has decided not to make any services “free” 32:31 – How Inspirato is structured for profitability 34:12 – Brad and Robbie talk about the importance of customer satisfaction and success 37:01 – Brad and Robbie discuss how human relationships are a part of Inspirato’s success 37:55 – Brad offers advice to aspiring entrepreneurs and ...
