Podcasts about ben chestnut

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Best podcasts about ben chestnut

Latest podcast episodes about ben chestnut

Go To Market Grit
#234 From Bootstrapped to $12B: Mailchimp's Ben Chestnut on Life After the Exit

Go To Market Grit

Play Episode Listen Later Mar 17, 2025 71:11


Guest: Ben Chestnut, Former CEO and Co-Founder of MailchimpIf you find yourself selling your startup, then Mailchimp co-founder Ben Chestnut has some important advice for you: Get a dog. When Intuit bought Mailchimp in 2021 for $12 billion, the company asked Ben if he wanted to stay on as CEO, but he chose to “walk off into the sunset” and let the new owners take over. After that, he estimates it took 6 to 12 months before he stopped checking his email, social media, and calendar with the same level of stress a CEO might have. Adopting a dog, he discovered, forces you to “get OK with the voices in your head."“After the acquisition, that's all I do, I walk the dog,” Ben says. “And the dog was good therapy ... No judgments from a dog.”Chapters:(01:09) - Growing slow (03:06) - The long journey (07:48) - Is money a burden? (09:35) - Building globally in Atlanta (11:22) - Ben's upbringing (12:59) - The first 10 years (17:58) - Scaling to one billion emails (19:22) - Freemium (23:32) - No equity (26:00) - Deciding to sell (33:55) - “I'm a sunset guy” (35:29) - Stress and support (37:25) - Time with the parents (39:07) - Get a dog (42:24) - The voices in your head (46:03) - Serial and “Mailkimp” (53:00) - Hiring interviews (57:14) - Fitness routines (59:27) - Lights off (01:01:46) - AI & reinvention (01:06:30) - The worst days (01:09:15) - What “grit” means to Ben Mentioned in this episode: Intuit, Wolt, DoorDash, LinkedIn, Dan Kurzius, Salesforce, ExactTarget, Pardot, Constant Contact, Rackspace, Free by Chris Anderson, Wired Magazine, Charles Hudson, the Freemium Summit, Drew Houston, Dropbox, Evernote, Phil Libin, TechCrunch, Brian Kane, Catalyst Partners, Georgia Pacific, Scott Cook, Bing Gordon, Vinay Hiremath, Loom, Joe Thomas, Caltrain, Flickr, Saturday Night Live, Droga5, Cannes Film Festival, Strava, Twitter, LinkedIn, Nvidia, Glean, Rubrik, Amazon AWS, and Mechnical Turk.Links:Connect with BenLinkedInConnect with JoubinTwitterLinkedInEmail: grit@kleinerperkins.com Learn more about Kleiner Perkins

Tech for Non-Techies
239. Do you really need a co-founder?

Tech for Non-Techies

Play Episode Listen Later Jan 29, 2025 30:10 Transcription Available


Do you really need a co-founder? There's intense pressure in the startup world to find co-founders, but the data tells a surprising story. MIT research shows that solo founders are actually more than twice as likely to succeed compared to teams, while Harvard research reveals that 65% of high-potential startups fail due to co-founder conflict. In this episode, you'll learn how to make the right decision about co-founders for your business, based on data rather than pressure. Listen to learn: Why the "you must have a co-founder" narrative persists despite evidence showing solo founders often succeed What successful solo founders like Jeff Bezos, Sara Blakely, and Mailchimp founder Ben Chestnut did differently How to evaluate if you really need a co-founder for your specific business A practical framework for finding and testing potential co-founders if you decide you want one Whether you're a founder feeling pressured to find a co-founder, or an investor evaluating solo vs. co-founded companies, this episode will transform how you think about startup leadership and team building. Learn why it's better to be a successful single parent than stuck in a toxic marriage when it comes to your business. Resources mentioned in this episode: MIT Sloan: 2 founders are not always better than 1 The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup, by Harvard Business School professor Noam Wasserman   For the transcript, go to: https://www.techfornontechies.co/blog/do-you-really-need-a-co-founder   Timestamps 00:00 Introduction 03:06 The Co-Founder Relationship 06:00 Risks of Rushing into Co-Founding 08:52 Data-Driven Insights  12:12 Conflict and Co-Founders 15:08 When Co-Founders Make Sense 18:05 Evaluating Potential Co-Founders 20:58 Alternatives to Co-Founders 23:47 Testing Before Commitment 27:09 Focus on Success, Not Pressure   For more career & tech lessons, subscribe to Tech for Non-Techies on: Apple Spotify YouTube Amazon Podcasts Stitcher Pandora   FREE Course: 5 Tech Concepts Every Business Leader Needs To Know Growth Through Innovation If your organisation wants to drive revenue through innovation, book a call with us here. Our workshops and innovation strategies have helped Constellation Brands, the Royal Bank of Canada and Oxford University.

Decoder with Nilay Patel
Mailchimp CEO Rania Succar on culture, acquisitions, and how big 'small business' really is

Decoder with Nilay Patel

Play Episode Listen Later Apr 1, 2024 66:13


Today, I'm talking to Inuit Mailchimp CEO Rania Succar, who took over as CEO in 2022 after a pretty rough patch in the company's history. In 2021, Intuit acquired the company, and the very next year, co-founder Ben Chestnut stepped down after telling employees that he thought introducing themselves with pronouns in meetings did more harm than good. After that, Rania took over. This is a pretty huge culture change, especially as Mailchimp became more integrated with Intuit. It was also a big challenge for a new leader who came in from the outside. You'll hear us talk about that transition a lot. Rania and I also got into the weeds of making decisions, which is very Decoder. And, of course, we had to talk about generative AI, which is a big part of the Mailchimp road map. This was a really fun conversation with some honestly scary ideas in it — and it's all about email. Links: Mailchimp employees have complained about inequality for years — The Verge Mailchimp Employees Are Fuming Over $12 Billion Deal — Business Insider Did this email cost Mailchimp's billionaire CEO his job? — Platformer Mailchimp is shutting down TinyLetter — The Verge TinyLetter, in memoriam — The Verge Did Mailchimp censor J.D. Vance? — Mother Jones Hackers breached Mailchimp to phish cryptocurrency wallets — The Verge Boring, mundane businesses have an exhilarating, viral life on TikTok — The Verge Transcript: https://www.theverge.com/e/23879556 Credits:  Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Today's episode was produced by Kate Cox and Nick Statt and was edited by Callie Wright. Our supervising producer is Liam James. The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit podcastchoices.com/adchoices

First Class Founders: Creators | Solopreneurs | Personal HoldCo
How to Create Your Own Luck as a Creator: Justin Gordon's Incredible Journey From Training NFL Pros to Venture Capital to Full-Time Creator

First Class Founders: Creators | Solopreneurs | Personal HoldCo

Play Episode Listen Later Apr 12, 2023 35:48 Transcription Available


E26: Justin Gordon went from training alongside elite athletes such as LaDainian Tomlinson and Drew Brees to working with an amazing community of entrepreneurs and founders as the Director of Marketing and Communication at a VC firm called Vitalize VC.He's also the creator of a popular podcast and newsletter called Just Go Grind. I spoke to Justin about his journey from the world of personal fitness to venture capital and came away with a ton of amazing insights such as the similarities between athletics and entrepreneurship, how he applies his learnings as a fitness trainer in the VC world, how he built a network of founders through his content creation, how his podcast got him hired at his current role, and finally what he considers to be the most important quality for an entrepreneur to have.Also, I'll share some of Justin's thoughts on the Silicon Valley bank fiasco that has been unraveling for the past few weeks and his thoughts on how founders can survive in the current uncertain fundraising climate.***TOPICS:Training Elite NFL Athletes Like Drew Brees & LaDainian Tomlinson (3:51)Launching a Personal Fitness Business (5:25)Joining an E-Commerce Company (6:24)Why Justin Got His MBA in California (7:02)How Justin Started His Podcast (7:42)How Justin Got His VC Job Through His Podcast (8:16)Two Types of Personal Trainers (9:18)Similarities Between Elite Athletes & Top Entrepreneurs (13:05)Mailchimp Founder, Ben Chestnut (14:47)Small Businesses vs. VC-Backed Companies (15:14)When Fundraising, Narrative Is Just As Important As Traction  (16:28)How to Navigate Silicon Valley Bank Fiasco (22:05)Fundraising During Market Turmoil (23:11)Gobble Founder, Ooshma Garg (24:04)Knowing What Levers to Pull as an Entrepreneur (26:10)Making Game Time Adjustments on the Field (27:57)Calendly Founder, Tope Awotona (30:25)Paul Graham, Founder at Y Combinator: Relentlessly Resourceful (31:10)***LINKS:Follow Justin Gordon on TwitterJustGoGrind NewsletterJustGoGrind PodcastJOIN: First Class Founders Premium MembershipDOWNLOAD: Hyper-Visuals For Our Episodes (Free)***FOLLOW / REVIEW:- Follow - Leave 5-star review***CONNECT W/ YONG-SOO:- X- Threads- LinkedIn- Newsletter***First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc. Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more. Episode you might like:Future of Newsletters with Tyler Denk, Founder & CEO at BeehiivFrom Zero to 100K Subscribers: How to Grow Your Newsletter like a Pro with Newsletter Growth Expert Matt McGarry...

Podcast Notes Playlist: Latest Episodes
20VC: Mailchimp's Ben Chestnut on The Biggest Leadership Lessons Scaling to a $12Bn Acquisition and $1BN+ ARR, The Secret to Happiness, Being a Great Husband and Father & Why 2021 was the Right Time To Sell to Intuit

Podcast Notes Playlist: Latest Episodes

Play Episode Listen Later Dec 17, 2022 50:42


Twenty Minute VC Podcast Notes Key Takeaways Mailchimp was kind of an accidental business; it was originally built for just a few customers who were struggling to send out email newsletters The freemium pricing option teleported Mailchimp's user base from tens of thousand to over a million users within a year of adding itIt is not always better to be faster It's okay to be stressed and have chaotic feelings on the inside, but a calm demeanor is important to convey as a leader “The key to happiness is staying in your lane, and knowing when people need to be in their lane. Don't get in their lane, and don't let them get in your lane.” – Ben Chestnut If you are a “hands-off” leader, ensure that you are also not an “eyes-off” leaderHow you are perceived as a leader is often dependent on the setting in which you are leadingFounders tend to conflate their identity with that of their business; but with time, they realize that their life is not their business when they genuinely begin to reflect on their lifeBen is grateful for easing into new levels of wealth over the course of his life instead of having a one-time, shocking liquidity eventThe happiest couples have husbands who keep their damn mouth shut   “What I want the most is to not want.” – Ben Chestnut Read the full notes @ podcastnotes.org Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users. In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp: How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment? At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit? When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO? Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father? 2. Ben Chestnut: The Leader: How does Ben define the term "high performance" in leadership? What does Ben mean when he says "the secret to happiness is to stay in your lane"? Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp? What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader? 3. Ben Chestnut: The Person: Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife? Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth? The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time? Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes? 4. Mailchimp: The Business: Why did Ben never raise venture money in the 21 year journey of Mailchimp? Why did Ben never accept any of the acquisition offers that came before Intuit? How did Ben motivate his team after they knew each acquisition offer was being turned down? Why did Ben decide the acquisition by Intuit was the right decision for the company? How does Ben view his role in the company now and moving forward?

Signal From The Noise: By Podcast Notes
20VC: Mailchimp's Ben Chestnut on The Biggest Leadership Lessons Scaling to a $12Bn Acquisition and $1BN+ ARR, The Secret to Happiness, Being a Great Husband and Father & Why 2021 was the Right Time To Sell to Intuit

Signal From The Noise: By Podcast Notes

Play Episode Listen Later Dec 17, 2022


Twenty Minute VC: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users. In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp: How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment? At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit? When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO? Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father? 2. Ben Chestnut: The Leader: How does Ben define the term "high performance" in leadership? What does Ben mean when he says "the secret to happiness is to stay in your lane"? Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp? What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader? 3. Ben Chestnut: The Person: Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife? Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth? The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time? Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes? 4. Mailchimp: The Business: Why did Ben never raise venture money in the 21 year journey of Mailchimp? Why did Ben never accept any of the acquisition offers that came before Intuit? How did Ben motivate his team after they knew each acquisition offer was being turned down? Why did Ben decide the acquisition by Intuit was the right decision for the company? How does Ben view his role in the company now and moving forward?

Podcast Notes Playlist: Business
20VC: Mailchimp's Ben Chestnut on The Biggest Leadership Lessons Scaling to a $12Bn Acquisition and $1BN+ ARR, The Secret to Happiness, Being a Great Husband and Father & Why 2021 was the Right Time To Sell to Intuit

Podcast Notes Playlist: Business

Play Episode Listen Later Dec 17, 2022 50:42


Twenty Minute VC Podcast Notes Key Takeaways Mailchimp was kind of an accidental business; it was originally built for just a few customers who were struggling to send out email newsletters The freemium pricing option teleported Mailchimp's user base from tens of thousand to over a million users within a year of adding itIt is not always better to be faster It's okay to be stressed and have chaotic feelings on the inside, but a calm demeanor is important to convey as a leader “The key to happiness is staying in your lane, and knowing when people need to be in their lane. Don't get in their lane, and don't let them get in your lane.” – Ben Chestnut If you are a “hands-off” leader, ensure that you are also not an “eyes-off” leaderHow you are perceived as a leader is often dependent on the setting in which you are leadingFounders tend to conflate their identity with that of their business; but with time, they realize that their life is not their business when they genuinely begin to reflect on their lifeBen is grateful for easing into new levels of wealth over the course of his life instead of having a one-time, shocking liquidity eventThe happiest couples have husbands who keep their damn mouth shut   “What I want the most is to not want.” – Ben Chestnut Read the full notes @ podcastnotes.org Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users. In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp: How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment? At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit? When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO? Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father? 2. Ben Chestnut: The Leader: How does Ben define the term "high performance" in leadership? What does Ben mean when he says "the secret to happiness is to stay in your lane"? Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp? What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader? 3. Ben Chestnut: The Person: Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife? Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth? The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time? Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes? 4. Mailchimp: The Business: Why did Ben never raise venture money in the 21 year journey of Mailchimp? Why did Ben never accept any of the acquisition offers that came before Intuit? How did Ben motivate his team after they knew each acquisition offer was being turned down? Why did Ben decide the acquisition by Intuit was the right decision for the company? How does Ben view his role in the company now and moving forward?

Podcast Notes Playlist: Startup
20VC: Mailchimp's Ben Chestnut on The Biggest Leadership Lessons Scaling to a $12Bn Acquisition and $1BN+ ARR, The Secret to Happiness, Being a Great Husband and Father & Why 2021 was the Right Time To Sell to Intuit

Podcast Notes Playlist: Startup

Play Episode Listen Later Dec 17, 2022 50:42


Twenty Minute VC Podcast Notes Key Takeaways Mailchimp was kind of an accidental business; it was originally built for just a few customers who were struggling to send out email newsletters The freemium pricing option teleported Mailchimp's user base from tens of thousand to over a million users within a year of adding itIt is not always better to be faster It's okay to be stressed and have chaotic feelings on the inside, but a calm demeanor is important to convey as a leader “The key to happiness is staying in your lane, and knowing when people need to be in their lane. Don't get in their lane, and don't let them get in your lane.” – Ben Chestnut If you are a “hands-off” leader, ensure that you are also not an “eyes-off” leaderHow you are perceived as a leader is often dependent on the setting in which you are leadingFounders tend to conflate their identity with that of their business; but with time, they realize that their life is not their business when they genuinely begin to reflect on their lifeBen is grateful for easing into new levels of wealth over the course of his life instead of having a one-time, shocking liquidity eventThe happiest couples have husbands who keep their damn mouth shut   “What I want the most is to not want.” – Ben Chestnut Read the full notes @ podcastnotes.org Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users. In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp: How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment? At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit? When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO? Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father? 2. Ben Chestnut: The Leader: How does Ben define the term "high performance" in leadership? What does Ben mean when he says "the secret to happiness is to stay in your lane"? Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp? What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader? 3. Ben Chestnut: The Person: Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife? Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth? The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time? Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes? 4. Mailchimp: The Business: Why did Ben never raise venture money in the 21 year journey of Mailchimp? Why did Ben never accept any of the acquisition offers that came before Intuit? How did Ben motivate his team after they knew each acquisition offer was being turned down? Why did Ben decide the acquisition by Intuit was the right decision for the company? How does Ben view his role in the company now and moving forward?

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
20VC: Mailchimp's Ben Chestnut on The Biggest Leadership Lessons Scaling to a $12Bn Acquisition and $1BN+ ARR, The Secret to Happiness, Being a Great Husband and Father & Why 2021 was the Right Time To Sell to Intuit

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Play Episode Listen Later Dec 12, 2022 50:42


Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users. In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp: How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment? At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit? When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO? Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father? 2. Ben Chestnut: The Leader: How does Ben define the term "high performance" in leadership? What does Ben mean when he says "the secret to happiness is to stay in your lane"? Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp? What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader? 3. Ben Chestnut: The Person: Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife? Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth? The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time? Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes? 4. Mailchimp: The Business: Why did Ben never raise venture money in the 21 year journey of Mailchimp? Why did Ben never accept any of the acquisition offers that came before Intuit? How did Ben motivate his team after they knew each acquisition offer was being turned down? Why did Ben decide the acquisition by Intuit was the right decision for the company? How does Ben view his role in the company now and moving forward?

MicroConf On Air
MicroConf Refresh Episode 57: A Conversation with MailChimp Co-Founder Ben Chestnut

MicroConf On Air

Play Episode Listen Later Nov 9, 2022 34:51


Rob Walling recently caught up with Ben Chestnut, Co-Founder of Mailchimp at our MicroConf Local Atlanta event. Ben and Rob chat about the founding story of Mailchimp, bootstrapping Mailchimp to $12 billion, and the decision to sell to Intuit. They discuss everything from areas of focus as a founder, making freemium work, overcoming catastrophic server crashes, and the power of having a great team. Enjoy this wide ranging talk with Ben Chestnut! Episode Sponsor Find your perfect developer or a team at Lemon.io/microconf The competition for incredible engineers and developers has never been more fierce. Lemon.io helps you cut through the noise and find great talent through its network of engineers in Europe and Latin America. They take care of the vetting, interviewing, and testing of candidates to make sure that you are working with someone who can hit the ground running. When it comes to hiring, the time it takes to write your job description, list the position, review resumes, schedule interviews, and make an offer can take weeks, if not months. With Lemon.io, you can cut down on a lot of that time by tapping into their wide network of developers who can get started in as early as a week. And for listeners of MicroConf On Air, you can get 15% off your first 4 week contract with a developer by visiting lemon.io/microconf Links from the Pod: Ben Chestnut | Twitter Mailchimp Rob Walling | Twitter

Dead Cat
Roko's Basilisk (w/Nathan Benaich)

Dead Cat

Play Episode Listen Later Oct 25, 2022 74:05


Nathan Benaich, the lone general partner at Air Street Capital, has long been on my radar as an artificial intelligence obsessive. And so now that the artificial intelligence is suddenly the fixation of the venture capital world, I invited Benaich on the Dead Cat podcast to talk about generative artificial intelligence. With my co-hosts, Tom Dotan and Katie Benner, we talked about the promise of generative AI and the ethics of a machines borrowing from the vast depths of human creativity. I pay homage to the AI overlords, cheering for the triumph of generalized artificial intelligence while Benaich warns us that the conversation about generalized artificial intelligence is a bit of a distraction.Benaich is the co-author of the State of AI Report that came out this month. It's worth a read. At the 42:40 mark, Nathan departs and Katie, Tom, and I change topics dramatically. Tom reads from the former Mailchimp CEO's email to the email marketing company discouraging employees from stating their pronouns at the beginning of a meeting.The article in Platformer, which first published the email, carries the headline, Did this email cost Mailchimp's billionaire CEO his job?Here's an excerpt of Mailchimp's then CEO Ben Chestnut's message to the company: I am noticing that whenever new employees introduce themselves in Zoom before asking their question, they're also announcing their pronouns. This is completely unnecessary when a woman (who is clearly a woman) to tell us that her pronouns are “she/her” and a man (who is clearly a man) to tell us that his pronouns are “he/him.”Tom, Katie, and I weigh in on the conversation around pronouns in the workplace, heavy-handed HR policies, and embarrassing CEO emails. Give it a listenRead the automated transcript Get full access to Newcomer at www.newcomer.co/subscribe

Dead Cat
Roko's Basilisk (w/Nathan Benaich)

Dead Cat

Play Episode Listen Later Oct 25, 2022 74:05


Nathan Benaich, the lone general partner at Air Street Capital, has long been on my radar as an artificial intelligence obsessive. And so now that the artificial intelligence is suddenly the fixation of the venture capital world, I invited Benaich on the Dead Cat podcast to talk about generative artificial intelligence. With my co-hosts, Tom Dotan and Katie Benner, we talked about the promise of generative AI and the ethics of a machines borrowing from the vast depths of human creativity. I pay homage to the AI overlords, cheering for the triumph of generalized artificial intelligence while Benaich warns us that the conversation about generalized artificial intelligence is a bit of a distraction.Benaich is the co-author of the State of AI Report that came out this month. It's worth a read. At the 42:40 mark, Nathan departs and Katie, Tom, and I change topics dramatically. Tom reads from the former Mailchimp CEO's email to the email marketing company discouraging employees from stating their pronouns at the beginning of a meeting.The article in Platformer, which first published the email, carries the headline, Did this email cost Mailchimp's billionaire CEO his job?Here's an excerpt of Mailchimp's then CEO Ben Chestnut's message to the company: I am noticing that whenever new employees introduce themselves in Zoom before asking their question, they're also announcing their pronouns. This is completely unnecessary when a woman (who is clearly a woman) to tell us that her pronouns are “she/her” and a man (who is clearly a man) to tell us that his pronouns are “he/him.”Tom, Katie, and I weigh in on the conversation around pronouns in the workplace, heavy-handed HR policies, and embarrassing CEO emails. Give it a listenRead the automated transcript Get full access to Newcomer at www.newcomer.co/subscribe

The Official SaaStr Podcast: SaaS | Founders | Investors
SaaStr 592: Everything that Breaks on the Way to $1B ARR with Mailchimp Co-Founder Ben Chestnut and SaaStr CEO Jason Lemkin

The Official SaaStr Podcast: SaaS | Founders | Investors

Play Episode Listen Later Sep 21, 2022 27:06


Join Mailchimp Co-Founder Ben Chestnut and SaaStr CEO Jason Lemkin in a follow-up to their popular fireside chat held during SaaStr @ Home 2020. Ben and Jason will chat about the highlights–and the challenges–of scaling a company like Mailchimp to $1B ARR.   Full video: https://youtu.be/5fx3qFD62ak   Want to join the SaaStr community? We're the

Smart Nonsense
Uber for video - our new $1 Billion startup

Smart Nonsense

Play Episode Listen Later Feb 24, 2022 68:27


Episode #131 with Henry and Dylan -- Rollercoaster of events from Dylan's passport - Henry messages Mailchimp's founder,Ben Chestnut, and got a reply - cracking the business model code after Dylan's brainblast from his plane ride.Watch on YouTube & SubscribeWatch Henry's last YouTube videoLinks:CliptFollow Dylan on Twitter and Instagram Follow Henry on Twitter and Instagram P.S. Toss us a 5-star review :)

DropTheDis Augusta
Around Augusta: XPR Augusta Development & Job Fair, New Italian Restaurant, & the CEO of Mail Chimp

DropTheDis Augusta

Play Episode Listen Later Jan 13, 2022 6:56


Today: Welcome to Around Augusta, where Chris talks about what's going on in the city! Today, we talk about XPR Augusta - including the development and the acts, but FEATURING the upcoming Job Fair, where they will be hiring people for their Master's Week productions. Also, hear about the new Italian Restaurant coming from the Goldsmith family. Finally, The CEO of Mail Chimp, Ben Chestnut - an Augusta Native - is coming to speak around the city soon. Learn how to be there! If you like Around Augusta, let us know! DropTheDisPod@gmail.com Presented By Nancy Powell Real Estate Broker @DowntownAugustaBroker & PowellPropertyPros.com Music by C. Lark DropTheDis Question Presented by Tranter Grey Media (TranterGrey.com) Community Partnership: TheClubhou.se at the Cyber Center & Augusta Podcasts, LLC. Beer is Brought to You by Savannah River Brewery (Follow them on Facebook!) SavannahRiverBrew.Com Also Featuring: The Little Guide to Augusta, @AllEqualParts, 2nd City Distilling & Durty Gurl Cocktail Mixers. Want to Support the Show & Get Free Stuff & Cool, Unique Bonus Content? Check out our Patreon! Learn More and Shop Merch @ AugustaPodcasts.com & Check Out Our Next Show @ AugustaRocks.com Produced at Augusta Podcasts Studio

Masters of Scale
39. The case for bootstrapping, w/Mailchimp's Ben Chestnut

Masters of Scale

Play Episode Listen Later Nov 30, 2021 44:56


This week, we're returning to an episode of Masters of Scale featuring Ben Chestnut, the co-founder and CEO of Mailchimp. The email marketing platform was acquired this year by Intuit in a multi-billion-dollar deal that closed this month. Hear how Chestnut used a DIY ethos to grow the company without ever raising a dollar of outside funding. The Mailchimp story is the exception to Reid's rule (always raise more money than you think you need!). The episode explores a range of options for those who don't fit the VC-funding mold. Cameo appearances: LeVar Burton (Star Trek, Reading Rainbow, LeVar Burton Reads), Don MacKinnon (Milq), Karen Cahn (iFundWomen).Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: http://eepurl.com/dlirtXSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Startup Story
How to bootstrap your startup to a $12 billion acquisition

The Startup Story

Play Episode Listen Later Nov 2, 2021 63:20


About this episode About six weeks ago one of our past guest experienced a life-changing event with regards to his startup. On September 13, 2021 it was confirmed that Mailchimp had been acquired by Intuit for $12 billion in cash and stock. Because of the recent headlines that have hit the mainstream tech sites, regarding this acquisition, I thought it would be nice to counter the false “overnight success” narratives with an honest discussion about how Ben Chestnut, co-founder of Mailchimp, really helped to build Mailchimp to where it is today. Until now, Ben's story hasn't received a ton of articles published about the savvy way in which Ben and his co-founder built this billion dollar enterprise without any venture capital. But now that they have been acquired for $12 billion…you are seeing them everywhere. This is the REAL startup story! In this episode, you'll hear: Ben's early days and what led him to start MailChimp. Ben's thoughts on bringing capital into the business. How he stayed the course despite competitor noise. Tactics Ben used to acquire his first 10,000 users. How to determine pricing and consumer tolerance in a SaaS product. Ben's key steps to build a $12-billion startup. Ben's advice to any entrepreneur who feels stuck. Resources from this episode Grindology Magazine: http://grindologymagazine.com/ Grindology on Amazon: https://www.amazon.com/grindology ExpressVPN: Get 3 Months Free → https://www.expressvpn.com/startupstory Get Emails: https://app.getemails.com/referrals/newaccount?ref=R18HWW5 The Startup Story Inner Circle: https://www.thestartupstory.co/vip The Startup Story on LinkedIn: https://www.linkedin.com/company/thestartupstory The Startup Story is now on YouTube: https://www.youtube.com/jamesmckinney The Startup Story on Instagram: https://www.instagram.com/thestartupstory Ben's Twitter: https://twitter.com/benchestnut My LinkedIn Profile: https://www.linkedin.com/in/jamesmckinney1/ Share the podcast The Startup Story community has been so incredible sharing our podcast with others, and we thank you! We do have more stories to tell and more people to reach. There are three ways you can help. First, the most powerful way you can support this podcast is by leaving a review on Apple Podcasts or wherever you listen to podcasts.

Closer Look with Rose Scott
Applications Being Accepted For Kensington TAD; Atlanta's Mailchimp Set To Be Sold

Closer Look with Rose Scott

Play Episode Listen Later Sep 21, 2021 47:00


Decide DeKalb Development Authority is now accepting applications for the Kensington Tax Allocation District (TAD). Dorian DeBarr, president of the Decide DeKalb Development Authority, discusses the goals of the program.Intuit Inc., a Silicon Valley financial software company, is set to purchase Mailchimp for $ 12 billion. Ben Chestnut, the CEO of Mailchimp, discusses the acquisition.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How I Built This with Guy Raz
Mailchimp: Ben Chestnut

How I Built This with Guy Raz

Play Episode Listen Later Jul 12, 2021 84:54


In the late 1990s, Ben Chestnut was a struggling young designer interning at an appliance company, when somebody suggested that he try designing for the internet instead. A few years later, Ben and two co-founders launched a web design agency, only to discover that the service they'd included almost as an afterthought—email marketing—was taking off among their small-business clients. The founders named that service Mailchimp and pivoted to it full-time in 2007, choosing a winking monkey as their mascot, and stumbling onto the Freemium model before it became mainstream. But their most impeccable timing came in 2014, when they decided to sponsor a new podcast called Serial, a move that catapulted the winking monkey into popular culture. Over the years, despite management jitters and a public reckoning over office culture, Mailchimp has remained profitable and self-funded, with revenue of $800 million in 2020.

Disruptor Studio
Ben Chestnut (Recorded Live!)

Disruptor Studio

Play Episode Listen Later Sep 29, 2020 59:54


No matter if you are a business or a consumer, chances are you have interacted with Mailchimp. This company has evolved from an email platform to a marketing hub for small business owners with an engaging brand and amazing culture. The company was born from the co-founders being laid off from their corporate roles and has grown to be worth billions despite not taking any outside investment.As CEO, co-founder Ben Chestnut has shaped this company with an incredible focus on its culture and a tremendous ability to keep innovating. During this conversation, Ben talks to Alex Gonzalez about leadership, creativity, innovation and more. They talk about his personal journey and interests as a kid that are evident in the Mailchimp culture today. Ben speaks to how his personal passion around helping empower small business. He also talks about empowering employees and how he evolves the company culture to reflect the evolving needs of customers. Alex asks Ben about creativity and innovation and we learn about some of Ben's pet peeves and personal interests.This episode was recorded in front of a live audience (prior to the pandemic) and you can also watch it on the Disruptor Studio YouTube channel here:https://bit.ly/3j06CLW

The Official SaaStr Podcast: SaaS | Founders | Investors
SaaStr 371: Learning from the Lows, How Mailchimp Navigated Economic Uncertainty with Ben Chestnut, CEO @ Mailchimp and Jason Lemkin, CEO and Founder @ SaaStr

The Official SaaStr Podcast: SaaS | Founders | Investors

Play Episode Listen Later Sep 4, 2020 24:26


It’s no secret that businesses today are struggling with an unpredictable economy. In this session, Mailchimp Co-founder and CEO Ben Chestnut will share the story of Mailchimp’s founding amidst—and despite—the dot-com bubble burst, and how the company navigated a number of inflection points in the first 10 years of its founding. 

The Startup Story
Ben Chestnut, co-founder of Mailchimp

The Startup Story

Play Episode Listen Later Aug 18, 2020 58:16


About this episode Ben Chestnut is the CEO and Co-founder of Mailchimp, a leading marketing platform for small businesses and Inc's 2017 Company of the Year. They democratize marketing technology for small businesses, creating innovative products that empower our customers to grow. So much of the startup noise today is about how much you've raised or if your startup is even worthy of investment. I want you to understand the idea of entrepreneurship that has been propagated in today's media outlets is not the standard or the norm. You do not need VC money to build your business or to validate that you have something worth pursuing. So when you hear Ben's story, I hope it leaves you walking a bit taller, knowing that it is absolutely possible to build a billion-dollar business one customer at a time and with no investment capital. In fact, Ben learned from a very early age that anything is possible as long as you're willing to put in the work. In this episode, you'll hear. Ben's early days and what led him to start MailChimp. Ben's thoughts on bringing capital into the business. How he stayed the course despite competitor noise. Tactics Ben used to acquire his first 10,000 users. How to determine pricing and consumer tolerance in a SaaS product. How COVID-19 has affected Ben and his leadership team. Ben's advice to any entrepreneur who feels stuck. Resources from this episode ExpressVPN: Get 3 Months Free → ExpressVPN.com/StartupStory The Startup Story Inner Circle: https://www.thestartupstory.co/vip Ben Chestnut on LinkedIn: https://www.linkedin.com/in/mailchimp/ The Startup Story on LinkedIn: https://www.linkedin.com/company/thestartupstory The Startup Story is now on YouTube: https://www.youtube.com/jamesmckinney The Startup Story on Instagram: https://www.instagram.com/thestartupstory Share the podcast The Startup Story community has been so incredible sharing our podcast with others, and we thank you! We do have more stories to tell and more people to reach. There are three ways you can help. First, the most powerful way you can support this podcast is by leaving a review on Apple Podcasts or wherever you listen to podcasts. Second, follow us on Facebook and Instagram, and be sure to share your favorite Startup Story episodes with your friends and on social media. Tag or mention @thestartupstory.co so we can give you a virtual high five and a thank you! Lastly, share the podcast on LinkedIn. The Startup Story podcast is for entrepreneurs. Don't underestimate the power of sharing on LinkedIn so other entrepreneurs can discover us. With your support, we hope to further our reach in encouraging and inspiring the founders of today and tomorrow. Thank you! EPISODE CREDITS If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, and authors create, launch, and produce podcasts that grow their business and impact the world. Contact him today at https://emeraldcitypro.com/startupstory

From Founder To CEO
Ben Chestnut on receiving and acting on personally critiquing feedback

From Founder To CEO

Play Episode Listen Later Aug 11, 2020 45:39


Sponsored By: Arrest Founder Stress Millions of entrepreneurs know about Mailchimp, because Mailchimp made millionaires of entrepreneurs known. What started as an email marketing platform for small businesses has grown to a full-fledged marketing platform made for growing businesses. And, at the helm for 20 years with his Co-Founder Dan Kurzius, is Ben Chestnut. Ben and I had a very candid conversation about his journey from Co-founder to CEO. He shares a story about a very critical moment in the company's history. A relatively new employee bravely gave him feedback that would be hard for many of us to swallow. Please let Ben and I know what you think about this interview. He is a rare leader who candidly shares such vulnerable information.

From Founder To CEO
Ben Chestnut on receiving and acting on personally critiquing feedback

From Founder To CEO

Play Episode Listen Later Aug 11, 2020 45:39


Sponsored By: Arrest Founder Stress Millions of entrepreneurs know about Mailchimp, because Mailchimp made millionaires of entrepreneurs known. What started as an email marketing platform for small businesses has grown to a full-fledged marketing platform made for growing businesses. And, at the helm for 20 years with his Co-Founder Dan Kurzius, is Ben Chestnut. Ben and I had a very candid conversation about his journey from Co-founder to CEO. He shares a story about a very critical moment in the company's history. A relatively new employee bravely gave him feedback that would be hard for many of us to swallow. Please let Ben and I know what you think about this interview. He is a rare leader who candidly shares such vulnerable information.

ZigZag
S4 EP22: Mailchimp’s CEO On Building a Multi-Billion Dollar Business Without Being an A$$hole

ZigZag

Play Episode Listen Later Dec 12, 2019 49:28


The newsletter company Mailchimp made an impressive $700 million dollars in revenue in 2019 and, after 20 years, it’s still owned and operated by co-founders, Ben Chestnut and Dan Kurzius. On this episode, Ben shares his tactics for staying focused and calm through market crashes, tech disruptions, and now playing role model for CEOs who think success requires treating employees poorly. Manoush and Jen aren’t so sure about Ben’s advice regarding “scaling.” But as they play voice memos from listeners going through professional zigs zigs, they realize a serious truth about their own small business. **Who You’ll Hear: **@manoushz (Manoush Zomorodi, host of ZigZag and cofounder of Stable Genius Productions), @jpoyant (Jen Poyant, cohost of ZigZag and cofounder of Stable Genius Productions), @benchestnut (CEO and cofounder of Mailchimp) ZigZag is the business show about being human. Join a community of listeners riding the twists and turns of late-capitalism, searching for a kinder, more sustainable way. Manoush Zomorodi and Jen Poyant investigate how work and business impact our wellbeing and the planet we live on. On Seasons 4 and 5, hear from rebels and visionaries with radical ideas on how we can build stable lives, careers, and companies.  If you’re also interested in Jen and Manoush’s personal story and their adventures in starting their own business with a little help from blockchain technology, listen to the first three seasons, starting with Season 1, Chapter 1. Thank you for supporting us by using special offer codes from our sponsors, signing up for our free newsletter, and subscribing to the show on Apple Podcasts, GooglePodcasts, RadioPublic, Stitcher, Overcast, Spotify, or Breaker.

ZigZag
S4 EP22: Mailchimp’s CEO On Building a Multi-Billion Dollar Business Without Being an A$$hole

ZigZag

Play Episode Listen Later Dec 11, 2019 49:28


The newsletter company Mailchimp made an impressive $700 million dollars in revenue in 2019 and, after 20 years, it’s still owned and operated by co-founders, Ben Chestnut and Dan Kurzius. On this episode, Ben shares his tactics for staying focused and calm through market crashes, tech disruptions, and now playing role model for CEOs who think success requires treating employees poorly. Manoush and Jen aren’t so sure about Ben’s advice regarding “scaling.” But as they play voice memos from listeners going through professional zigs zigs, they realize a serious truth about their own small business. **Who You’ll Hear: **@manoushz (Manoush Zomorodi, host of ZigZag and cofounder of Stable Genius Productions), @jpoyant (Jen Poyant, cohost of ZigZag and cofounder of Stable Genius Productions), @benchestnut (CEO and cofounder of Mailchimp) ZigZag is the business show about being human. Join a community of listeners riding the twists and turns of late-capitalism, searching for a kinder, more sustainable way. Manoush Zomorodi and Jen Poyant investigate how work and business impact our wellbeing and the planet we live on. On Seasons 4 and 5, hear from rebels and visionaries with radical ideas on how we can build stable lives, careers, and companies.  If you’re also interested in Jen and Manoush’s personal story and their adventures in starting their own business with a little help from blockchain technology, listen to the first three seasons, starting with Season 1, Chapter 1. Thank you for supporting us by using special offer codes from our sponsors, signing up for our free newsletter, and subscribing to the show on Apple Podcasts, GooglePodcasts, RadioPublic, Stitcher, Overcast, Spotify, or Breaker.

Startup Life Show with Ande Lyons
Venture Capital, Angel Investor, Bootstrapping - Which Funding Strategy is Best for Your Startup?

Startup Life Show with Ande Lyons

Play Episode Listen Later Jun 13, 2019 11:04


Venture Capital, Angel Investors... or bootstrapping... MONEY is oxygen for a startup.But how does a founder decide which oxygen mask is best for their business? I have some Andelicious Advice to help you choose the best funding option… and oxygen… for your startup.When I’m gardening, driving into Boston, or doing household chores, I love tuning into podcasts.The other day I had two back-to-back podcasts that got me thinking about the question – which oxygen does your business need to soar?The first podcast I listened to was Masters of Scale with Reid Hoffman, co-founder of LinkedIn… and he was interviewing Ben Chestnut, the co-founder of MailChimp. They were focusing on how MailChimp grew without any investment capital. They completely bootstrapped the business. Throughout the interview, Reid was highlighting the importance of Venture Capital to provide rocket fuel for a company's growth. Given his podcast title, Masters of Scale, he clearly is all about scaling a business.His final words of advice: "while I greatly admire the tenacity of Ben and everyone who bootstraps, my hope for each of you listening is that you give a thought to what investment might bring you: More speed. More support. And yes, more on-target advice."After listening to Reid's episode with Ben, I popped up the next item on my listening queue – and it was Gary Vee. Who just happened to be chatting about the exact opposite tactic. Bootstrapping your business. His adamant advice: Take the long road (like Mailchimp) and keep your company employee and customer centric. Yes, it will take longer and yes, you will work harder and have missed opportunities due to learning cureve challenges. Let’s face it… Those who can't raise capital are forced to make money.Which oxygen to choose is not an easy decision.What I've seen and learned after 4 businesses of my own and mentoring clients is that too much capital can mask holes in your business. Founders don’t see problems surface soon enough, and they often over hire after receiving a cash infusion.Being forced to keep operations lean results, IMHO, in digging deeper into creative solutions for tough problems; being more nimble and able to pivot faster; and it keeps the company culture on the employees and the customers, not the investors and their agenda to meet their portfolio’s ROI.Here’s the scoop about VCs – they do a terrific job at raising big funds - $30-$100 million and more. Their customer are the investors in their fund. They need to keep their funders happy. So they become all about your business’ exit… via a sale or an IPO. That’s the only way they’re going to get their money back.In addition, VCs will get more involved in your business. They will take at least one seat on your Board of Directors and you will find yourself working extra hard to meet their expectations.I've raised VC capital - $8 million for our dot com… and we also turned down $14 million from Bear Stearns, may they rest in peace - and I've raised Angel capital - and I've used pure grit and a charming personality to bootstrap a business. I’m a huge fan of bootstrapping and attracting aligned angel investors. They’re called Angels for a reason… but it’s up to you, the founder, to make sure they are aligned with your values and company’s mission. If you don’t feel a good vibe about the angel investor… WALK AWAY.Capital intensive businesses are going to need capital investment. Life Science, Biomed, brick'n'mortar businesses need a long runway until their products are ready to go to market. Electronic consumer products are always in need of some kind of funding, often taking advantage of crowdfunding or an angel investor to build a bridge from prototype to manufacturing to distribution. If you get a large order from a credit worthy company… a big box store or Microsoft for example… you can often find lending opportunities, provided the purchase order is from a credit worthy client. A factoring company will provide a line of credit up to 80% of the purchase order with a 3-4 point fee.Jesse Genet, the founder of the packaging design company Lumi, shares that she used factoring and lines of credit with the bank to finance her company’s early stage business growth.What are your thoughts? VC money to grow fast… Angel funding to bridge the gap between prototype and launch… or bootstrapping? I'd love to hear where you land re: which oxygen mask a startup founder should choose to grow their business.Masters of Scale Podcast with Ben Chestnut, co-founder of MailChimp:https://mastersofscale.com/ben-chestnut-the-case-for-bootstrapping/Gary Vee: https://www.youtube.com/watch?v=KHIe1GgvqeQ&t=2262sIf you have a burning question, please leave it in the comment section… I always respond with my best advice and insights.Are you ready for startup mentoring or some delicious DIY advice for your new business? Then please visit my website, http://andelyons.com where you’ll find all the ways I can add value to your startup journey: strategy calls, pitch deck and one page business snapshot coaching, WBENC application support for women business owners - I’d be honored to mentor you through whatever you’re going through – so please don’t hesitate to reach out.If you’d like to receive an alert whenever I post a new episode, please follow me on Spreaker, Stitcher, iTunes, Spotify or Google Podcasts… and let’s connect on social media!You'll find tons of curated DIY startup advice on my YouTube Channel https://www.youtube.com/user/AndeliciousAdvice and my Pinterest Boards: https://www.pinterest.com/andelyons/boards/.Listeners - thank you so much for tuning in - I am genuinely grateful for your time and presence. Stay strong, stay focused – and please remember – you’ve got this – Cheers!Ande ♥

Masters of Scale
The case for bootstrapping w/Mailchimp’s Ben Chestnut

Masters of Scale

Play Episode Listen Later May 20, 2019 44:56


You can bootstrap your business to scale, but you'll have to make your own luck. Nobody knows this better than Mailchimp's Ben Chestnut. He used a DIY ethos to grow a $600M company without ever raising a dollar of outside funding. The Mailchimp story is the exception to Reid's rule (Generally: Raise more money than you think you need!). The episode explores a range of options for those who don't fit the VC-funding mold for any set of reasons. Cameo appearances: LeVar Burton (Star Trek, Reading Rainbow, LeVar Burton Reads), Don MacKinnon (Milq), Karen Cahn (iFundWomen).

The Justin Brady Show
Paul Jarvis, Author of "Company of One" Explains Why Growth Shouldn't Be A Goal

The Justin Brady Show

Play Episode Listen Later Jan 29, 2019 31:10


Paul Jarvis is a writer and designer and worked with professional athletes like Steve Nash and Shaquille O'Neal, corporate giants like Microsoft and Mercedes-Benz, and entrepreneurs with online empires like Danielle LaPorte and Marie Forleo. He explains why growth shouldn't be a goal. He is the author of Company of One, endorsed by David Heinemeier Hansson, Creator of Ruby on Rails and Founder of BaseCamp, and Ben Chestnut, CEO/founder of Mail Chimp. He's been featured in Wired, USAToday, Fast Company, Vice, Forbes, and others. A book about NOT growing your business.

VOXcast
VOXCAST: VOX Interviews Mailchimp CEO Ben Chestnut

VOXcast

Play Episode Listen Later Dec 4, 2018 17:37


In this episode of the VOXcast, Voxers Lyric, Eric, and Chris interview CEO of Mailchimp, Mr. Ben Chestnut. For more teen created content, visit VOXATL.com. Music by: idonthateyou - https://soundcloud.com/prodbyidhy

ceo music mailchimp ben chestnut voxcast
Fortt Knox
42 - Ben Chestnut, MailChimp co-founder: A Layoff Pushed Him to Success

Fortt Knox

Play Episode Listen Later Sep 2, 2017 24:27


Seventeen years ago, life gave Ben Chestnut the push to start the company that became MailChimp. He was in web design. He got laid off. His employer offered him another job, but he knew: this was his chance to build his own thing. Today if you run a small business or you're into marketing, you've probably heard of MailChimp. For everyone else, it's the way a lot of people reach their customers' email inboxes. Newsletters, offers for special sales, you name it – MailChimp is in the tricky game of helping companies reach the people who actually want to be reached. Today, Ben Chestnut's team has more than 14 million users, and had more than $400 million in sales last year. Ben himself? An introvert. A soft-spoken guy who has perfected the art of capitalizing on the wrong answer and getting to the right one. Learn more about your ad choices. Visit megaphone.fm/adchoices

Small Business with Steve Strauss powered by SAP
Marketing Secrets from MailChimp

Small Business with Steve Strauss powered by SAP

Play Episode Listen Later May 12, 2017 27:18


This episode of Small Business with Steve Strauss powered by Microsoft, is all about marketing. More importantly, how to take advantage of every opportunity you have as a business, to maintain and grow your customer base. Steve turns to a company that knows exactly how to that. On this episode, you'll learn marketing secrets from MailChimp! In our Ask An Expert (Almost) Live segment, Steve takes a question from Maggie. Maggie uses a marketing newsletter, which is a great way to stay engaged with your customers. The question is, how do you grow your email marketing list? Steve has four tips that he's used, that you can apply today. Steve is then joined by the CEO and co-founder of MailChimp, Ben Chestnut! The story of MailChimp is a fascinating one. From their humble beginnings, to becoming the primary sponsor of the phenomenon of Serial. Once he was parodied on SNL, he knew they'd made it! Ben has some wonderful stories and incredible advice on how to grow your business. Don't forget, you can submit your question for an "Ask An Expert Live" segment by sending an email to theselfemployed@yahoo.com. Subscribe to the Small Business Success RSS Feed to get weekly podcasts automatically! Or, listen on iTunes!

Virtual Success Show
How Taki Moore, Coach Marketing Expert and founder of the CoachMarketingMachine.com is leveraging his virtual teams to encourage everyone to work in their ‘genius'

Virtual Success Show

Play Episode Listen Later Jul 28, 2016 41:10


How Taki Moore, Coach Marketing Expert and founder of the CoachMarketingMachine.com is leveraging his virtual teams to encourage everyone to work in their ‘genius' Want the transcript? Download it here. In this episode, we hear from Taki Moore, one of Australia's leading ‘coaches to coaches' on the benefits of using virtual teams to grow your business and how, if done correctly, will allow you to play to your strengths and live in your ‘genius'. This episode is packed full of useful tips and insights from Taki on how to leverage your virtual team to allow you to make more money, have more fun and help more people. Some of the areas he covers are: Why breaking down your tasks from the beginning allows you to find your ‘genius' and delegate the tasks you don't enjoy/ aren't good at, in order to get ahead Why letting go of the belief “They can't do it as well as I can”, can be very liberating The importance of not trying to get rid of tasks all at once, as this can be overwhelming Why it is important to be a strong team leader Why a sold ‘communication rhythm' is important for the entire team and why you should stick to it The importance of viewing the remuneration of your team as an investment as opposed to an expense Let us know what your key takeout has been from this episode and join the continuing conversation over in the Virtual Success Facebook Group.   In this episode: 02:56 – Taki's 60-sec elevator pitch 04:33 – It started with a book… 06:42 – Breaking down your tasks 09:00 – “But no one can do it as well as I can” 09:51 – Delegating to get ahead 11:51 – Finding your ‘genius' 14:29 – Allowing others to play in their genius 15:24 – The ‘Super VA' myth 18:14 – A communication rhythm 20:34 – ‘Check-ins' time frames 21:50 – Daily check-ins 23:16 – Weekly, monthly & quarterly check-ins 27:09 – The importance of sticking to your comms plan 29:51 – Create a meeting structure 30:51 – What Taki would do differently next time… 36:27 – Return on Investment 38:32 – Wrapping things up Tools & resources mentioned in this episode:   Tribal Council Blog The 4-Hour Work Week by Timothy Ferriss Mastering the Rockefeller Habits: What you must do to increase the value of your growing firm by Verne Harnish Death by Meeting: A Leadership Fable…about Solving the Most Painful Problem in Business by Patrick Lencioni     Matt: Good morning everyone! Matt Malouf here for another exciting show of the Virtual Success Show and as always I'm joined by my co-host, Barbara Turley. Good morning Barbara! Barbara: Morning Matt! How are you? Matt: I'm excellent! How are you going? Barbara: I'm good you know I have had an interesting week. I've sort of had an evolving week in my business and I wanted to share a quick quote that I saw this morning just sums up completely the week I've had. It was by Ben Chestnut who's the CEO of Mail Chimp – ‘As it grows, your business will go through several stages and each stage requires a different kind of leader' – and I'm definitely feeling that in my business this week. I'm sort of moving to another level and feeling that sense of needing to be a different kind of leader as I go forward. Matt: Fantastic! What a great quote, as your business grows, you need to become a different kind of leader. That's amazing, that's great! We'll make sure we get that posted as an attachment to this. I think it' a really good start! Barbara: I'll organize that! Matt: So Barbara, I'm super super excited about today's podcast. I've got a dear friend and mentor of mine, Taki Moore joining us. Taki Moore was one of my very early business coach and mentors when I became a coach and we've been friends for many many years and we actually met in my former life as a personal trainer. We've stayed in touch over the years and Taki has been responsible for an amazing amount of learning that I've had over the years, both in the area of virtual assistants,

The Top Entrepreneurs in Money, Marketing, Business and Life
28 Year Old Female Entrepreneur Making 100k's Product Images Better for $2 Each, EP 270: Holly Cardew

The Top Entrepreneurs in Money, Marketing, Business and Life

Play Episode Listen Later Jun 9, 2016 20:07


Holly Cardew, a member of the Forbes 30 under 30 list and the founder of Pixc - an online image optimization service. Holly dropped out of college to grow an image editing empire that’s making just short of $1 million in revenue each year. Listen as Holly and Nathan talk about Pixc’s bootstrapping ethic, the importance of revenue over investment, and how to get the most from an affiliate program. Famous 5 Favorite Book? – The Lean Startup What CEO do you follow? — Ben Chestnut, though he’s kind of hard to track What is your favorite online tool? — Intercom Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? — I wish my parents had told me to go to Silicon Valley. I should have learnt how to code. Time Stamped Show Notes: 01:15 – Nathan’s introduction 01:56 – Welcoming Holly to the show 02:03 – Holly took a corporate job in London after university 02:20 – Tried multiple online businesses before Pixc 02:40 – Pixc is an online image optimization service 02:50 – Sells credit image packages 03:05 – Launched a landing page in 2013; started properly in 2014 03:20 – Largely self-funded; raised $150k in capital 03:55 – ‘At the end of the day, you need to have a business - not just capital’ 04:15 – 16 team members 04:30 – Revenue in the range of $200k - $1 million per year 05:10 – What are the running costs? 05:20 – Semi-automated process with some human input 05:35 – Currently breaking even and re-investing in the business 05:50 – Holly is 28; she dropped out of college to start her business 06:20 – Working with over 7,000 clients 06:40 – Acquisitions through referrals, integration, content marketing and affiliates 07:10 – Affiliate program is very effective. One article brought in 70+ customers in 3 weeks 09:20 – Affiliates make 20% commission on referrals 10:40 – What’s the competition? Largely freelancers. 11:03 – What’s Pixc’s growth strategy? 11:40 – Planning to expand the affiliate program and build partnerships 11:50 – Thinking about what other services they can offer in this niche 12:20 – Connect with Holly on Linkedin, Twitter and at her blog 14:58 – Famous Five 3 Key Points: Focus on revenue, not on investment. You have to know that your idea can make money. Learn how to code - it’s a basic skill that will pay you back a hundred times over. If you’re looking at expanding, consider what other services fit in your niche. What else do your customers need that you can provide? Resources Mentioned: Freshbooks - The site Nathan uses to manage his invoices and accounts. Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Show Notes provided by Mallard Creatives  

CreativeMornings Podcast
#5 Ben Chestnut

CreativeMornings Podcast

Play Episode Listen Later Oct 30, 2015 41:30


"Don't worry about big ideas, just keep making stuff." Ben Chestnut, the co-founder and CEO of MailChimp, spoke at CreativeMornings/Atlanta in 2011 on one of the most poignant topics of all time: quitting your job to do what you love. He also touches on the history of the company and what he does as a manager to cultivate the celebrated MailChimp culture. If you are running a creative business, or even if just need a little jolt to remind yourself to do what you love—this talk’s for you! (Plus, we’re pretty sure it’ll make you laugh.) Learn more at www.creativemornings.com

ceo mailchimp ben chestnut
Design Matters with Debbie Millman
Ben Chestnut + Aarron Walter

Design Matters with Debbie Millman

Play Episode Listen Later May 10, 2013


Mailchimp CEO Ben Chestnut and User Expereince Lead Aaron Walter talk how they got where they are — and where Freddie the monkey came from.

ben chestnut aarron walter