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