Podcasts about Outsourcing

This week's episode of Win The Hour, Win The Day Podcast is sponsored by Win The Hour, Win The Day's Signature Coaching Program the Winners Circle. Kris Ward who helps entrepreneurs to stop working so hard interviews,  Stephanie Arsua. Ready to boost your business teamwork?   Join Stephanie Arsua's podcast episode where we talk about the magic of feedback and scrum. In this episode, you'll find out:-Why sharing thoughts helps people work better together.-How scrum meetings make teamwork super easy.-The cool stuff that happens when you talk and work as a team. Get ready for a cool chat!  Don't miss out on making your business better. Listen now! Power Personality Quizhttp://winbacktimequiz.com/Win The Hour, Win The Day! www.winthehourwintheday.com  Podcast: Win The Hour, Win The Day Podcast  Facebook: https://www.facebook.com/winthehourwintheday/LinkedIn: https://www.linkedin.com/company/win-the-hour-win-the-day-podcast

Gina Corner shares strategies for what and how to outsource so you are freed up to do what you are best suited to do while still growing your business.  

For generations in the United States and in most western cultures, we have outsourced 90% of the training of our children. We send our kids to Sunday School so they can be trained in the Bible, we send them to public or Christian schools for their academic training, and we get them at breakfast and dinner to begin and end the day. No wonder we're losing our kids. Today I'll be talking about why this has to change. Show Notes: http://heidistjohn.com/blog/podcasts/outsourcing-parenting --- Send in a voice message: https://podcasters.spotify.com/pod/show/heidistjohn/message

In this episode of This Week Explained, Tiana and Kervin discuss the ongoing Russia-Ukraine conflict and Poland's decision to prioritize domestic issues. They delve into the recent conflict between Azerbaijan and Armenia, which quickly reached a peace deal, and explore the implications of the situation. The hosts also touch on recent coups in African nations and the potential breakaway of three countries from the ECOWAS. Finally, they tackle the escalating tensions between China and Taiwan, with China sending a record number of planes towards the island this year. Tune in for insightful analysis on these major global events.----------------------Get your discount on a brand new BlendJet2 by going to our link: https://zen.ai/analytics12subscribe and follow us: https://linktr.ee/AucoinAnalyticsMilitary Influencers Conference: https://militaryinfluencer.com/---------------------Disclaimer:The views and opinions expressed on the podcast 'This Week Explained' are those of the hosts and guests and do not necessarily reflect the official policy or position of any organization or entity. The information provided on the podcast is for general informational purposes only and should not be considered professional advice or a substitute for independent research and analysis. Each individual listener should research and identify their own opinions based on facts and logic before making any decisions based on the information provided on the podcast. The podcast hosts and guests are not responsible for any actions taken by individuals based on the information provided on the podcast.

This Podcast Is Episode Number 542, And It's About What Is A Fractional CFO And How Can It Help Your Construction Business? A fractional CFO, or Chief Financial Officer, is a finance professional working part-time, retainer, or contract. They bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee.   Fractional CFOs service several clients simultaneously, typically on a part-time, retainer, or contract basis. Their specialty is providing outsourced CFO services to small and medium businesses.   Because their financial management skills are so well-developed, it's common to bring one on board to help navigate a challenge.   Every construction business can benefit from dedicated financial management expertise, but very few small companies have the means to hire someone full-time—particularly in the lean early years.   Unfortunately, it's those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time, can even make or break a construction business.   Outsourcing a CFO is affordable for business owners like you who recognize the need for a financial expert with construction business experience. CFOs provide top-level advice when needed, offering incredible value and cost savings to companies focused on growth and long-term success. But what happens when you hire a CFO without a construction business experience? At the very least, you and your CFO would constantly struggle between having all the documents needed for data entry and providing the tools to the Bookkeeper to deliver the reports correctly. As a construction business owner, you want answers to the following questions: Am I making any money? Where am I making any money? Why isn't there a report that gives me all the answers at the push of the button? Furthermore, a financial challenge sometimes comes beyond your team's skill or experience level. This is where a fractional construction CFO can be of great benefit. Some of the issues they assist with include: Cash flow problems High expenses Existing systems that are no longer working Cost-cutting analysis Getting through an audit Hopefully, these situations don't come up often, but when they do, it's beneficial to have an expert on your side to guide you through. Your small construction business might want to consider the benefits of working with a fractional construction CFO. Achieving goals A fractional CFO can help you realize your dreams by deciphering the numbers. They will look at where you are now and help you plan where to go next. This includes: Ensuring the books are in order Performing financial forecasts Helping with strategic relationships Overseeing due diligence There are plenty of ways a fractional CFO improves your operations. The specific skills and experience they provide will clarify your situation and help you achieve what you want. Managing growth Taking your construction business to the next level can seem daunting. You want to grow but don't want to risk your success by taking on too much or making a damaging misstep. A CFO will help you navigate the steps ahead. If you're already growing at a rate that makes you feel like losing control, they will help you retake the reins. A fractional CFO will help by: Breaking down large amounts of financial information into helpful data Making a plan to develop existing employees and their skills Identifying the need to hire new employees to manage growth Implementing systems that will work in the future Exploring causes of revenue loss and cost overruns and developing solutions to address them Ultimately, a fractional CFO is helpful to guide you through the growth process so that you can feel confident as your business expands. High-level decision making A CFO can analyze your construction company finances and provide expert advice to help you make more informed, strategic decisions for ongoing profitability. That senior-level financial oversight can help you understand any risks or weak spots, identify opportunities, and create a realistic and actionable business plan that steers the company precisely where you want it to go. Managing risk Your business is an asset that needs protection from any potential risk that may threaten its ongoing success. A fire or flood, cyber attack, or employee theft can all cause long-term damage if you don't protect your business. A CFO can undertake a risk assessment and ensure that you invest wisely, have appropriate insurance, and secure sensitive data, equipment, and inventory. Field tools are a given. The truck has a rack for ladders and lumber. Vans have shelves and bins; they are tall enough to stand in, saving wear and tear on employees' knees. Less strain on knees can keep or postpone possible Worker's Compensation claims. Worker Comp claims lead to increased premiums. Once the Tools and Equipment are updated, it is much easier to see which employees are productive. In the Field – Who is bringing their jobs in on time, under budget is reasonable. Jobs without warranty work and signing billable change orders add to the bottom line. Simple Efficiency is a "Win-Win" for everyone: The Contractor Owner receives the reports needed to make good, proactive decisions. The CFO has a smooth-running operation and can focus on the "Money Management" duties necessary to run the business. The Office Manager or Bookkeeper can efficiently enter the day-to-day paperwork into the QuickBooks file, answer the phones, and complete other daily tasks without frustration. The Field Staff know they have turned in all their paperwork (paper and digital) in a timely fashion with limited stress and are greeted warmly by the Office Manager or Bookkeeper. Everyone is ending their day on a "Happy Friendly Note" and looking forward to tomorrow. Everyone Wins When: 1. The Contractor Owner knows the accounting records are accurate and can make decisions 2. The CFO can be confident that clients are billed, and no one is paid twice. 3. The Office Manager or Bookkeeper can easily track Job Costing and Timecards 4. The Field Staff stays on top of the job and gets signed Change Orders 5. The Customer is happy with an excellent job without any warranty work. Final thoughts When you hire a fractional CFO, you decide how often their services are required and only pay for the services you need. Hiring a financial expert on contract is a cost-effective solution for construction businesses that only need part-time support. Staying on top of your company's financial management is a struggle for many small business owners, who spend much time attending to clients and profit-generating activities. Working with a team of accountants, bookkeepers, and a CFO can help you better manage the most critical aspect of your business for ongoing growth: your bottom line. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy Accounting) in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com  

Dana Corey is a business strategist and coach. She works with established entrepreneurs whose businesses serve local-to-them clients, helping them grow from being 'self-employed' to owning their role as CEO. Her clients stop micro-managing and become the creative visionary growth leader their business needs. Dana combines nuts-and-bolts strategy, internal operating system neuro-rewiring, and walk-beside-you partnership. Over 87% of Dana's clients double their bottom line within a year of working with her. Even better, they do that while working a third less hours, taking regular weekends and enjoying REAL vacations. Some people think the time off is a side benefit – Dana believes that freedom is the whole point! Over the last decade, Dana has helped hundreds of business owners enjoy more freedom, make more money, and be great leaders – on their own terms.   Dana Corey shares valuable insights on time management, delegation, and the importance of shifting our mindset to achieve success in this episode. Drawing from her experience working with CEOs and business executives, Corey highlights the significance of creating space, both mentally and physically, to foster growth and productivity. Join us as we explore practical strategies for mastering time and delegation in our own lives. Learn more from Dana Corey by visiting https://danacorey.com/CEOCreationToolbox   [00:02:09] Manipulating time and productivity.  [00:05:23] Scalability and business growth. [00:12:49] Shifting physiology and self-improvement.  [00:21:32] Expansion through immersive travel.  [00:26:59] Manipulating time.  [00:32:23] Morning routine and productivity.  [00:35:37] Email management and efficiency.  [00:39:27] Outsourcing and cost efficiency.  [00:44:58] Global citizenship and contractor diversity.  [00:47:09] Resources for CEOs and leaders.

Tired of playing musical chairs with your construction crew? One guy's in, another guy's out—and heck, finding good help feels like searching for a needle in a haystack. Tune in to this week's episode of CMPS, where we're diving deep into the art of staffing your Cabinet, Millwork, and Production operations like a pro. We've got Jacob Edmond joining us, and this guy knows the ropes.   What we're hashing out for ya:   Staffing Woes: Yeah, we get it. Good help is hard to find. We're not just talking about it; we're giving you solutions.   Think Different, Build Different: Jacob's gonna share why you should stop hiring another Joe to replace the last one. Different is good. Hear why.   The Real Cost of Hiring: Grab your hardhat because we're breaking down the costs. Not just dollars, but time and energy too. Know your numbers, or you're building on shaky ground.   Outsourcing vs. Homegrown Talent: To outsource or to grow your talent in-house? We're laying it all out, the good, the bad, and the ugly.   And hang tight, there's more coming your way:   Employee Contracts: You gotta have 'em, but what should be in 'em? Let's take a look.   Safety First: We're not just talking hardhats here. Insurance, protocols, and why they matter.   Building Your Dream Team: From where to look to what to look for, we're giving you the blueprint.   Don't let your business topple over because you couldn't get your staffing game tight. We're here to help you, one solid hire at a time.   Don't forget to hit that subscribe button, rate us if you love us, and leave a comment. Your feedback keeps the CMPS machine running!  

Show Summary In this episode of the Grow My Accounting Practice podcast, we had the pleasure of hosting Laurence Whittam, the Founder and Managing Director of Impact Global Solutions. With extensive expertise in outsourcing, specifically tailored for accountants and businesses seeking to optimize their client management processes, Laurence shared valuable insights and experiences. The discussion begins by delving into the origins of Impact Global Solutions and its fundamental mission. Laurence shed light on why he founded the company, underlining the drive to create a platform that simplifies and enhances outsourcing for businesses, especially in the accounting sector. One of the focal points of the conversation is the exploration of the manifold benefits tied to outsourcing. Laurence elucidates the advantages that businesses can derive from efficient outsourcing practices, emphasizing the potential for increased efficiency, cost-effectiveness, and the ability to focus on core competencies. However, outsourcing isn't without its challenges, and Laurence didn't shy away from addressing them. He outlines some of the most common hurdles that businesses encounter when engaging in outsourcing, providing valuable insights to navigate and mitigate these challenges effectively. Determining the right time for a business to transition into outsourcing is another key area of discussion. Laurence shares his expertise on the readiness indicators, enabling businesses to recognize when they are primed for the outsourcing journey, ensuring a seamless integration into their operations. Lastly, Laurence offers a glimpse into the future, discussing emerging trends in the outsourcing landscape. He explores how the dynamics of outsourcing are evolving and predicts future trends that businesses should be aware of to stay ahead of the curve. Overall, this episode provides a comprehensive understanding of the world of outsourcing, offering listeners key takeaways to consider when contemplating or optimizing their outsourcing strategies. Websites: https://www.linkedin.com/in/laurencewhittam/ Corporate Partner: People Process – https://peopleprocesses.com/

Eliza and Geraldine are back after their podcast sabbatical! And it wouldn't be an LDC without a big conversation about US politics and whether President Biden should run again or allow someone younger to have a crack at Donald Trump. Geraldine & Eliza do a recap of the past three months, including Eliza's looming 40th birthday and Geraldine's trip to Europe to celebrate the German composer, Mahler. There's all the usual discussion of books and podcasts and movies, with a small rave from Geraldine about the “Oppenheimer" movie. Thanks for listening! Get in touch via the email ldcpodcast1@gmail.com Wifedom – Anna Funder https://www.penguin.com.au/books/wifedom-9780143787112 Wifedom review by Susan Wyndham in the Guardian https://www.theguardian.com/books/2023/jul/07/wifedom-by-anna-funder-review-a-brilliant-reckoning-with-george-orwell-to-change-the-way-you-read Last Man Standing – The UK Times podcast https://podcasts.apple.com/au/podcast/stories-of-our-times/id1501716010?i=1000567142277 Romantic Comedy – Curtis Sittenfeld https://www.penguin.com.au/books/romantic-comedy-9780857527509 The author Stefan Zweig https://en.wikipedia.org/wiki/Stefan_Zweig

A few months back, ThreatTalk guest Amit Singh helped us consider some of the reasons a recent SANS 2022 SOC Survey showed so many organizations turning to ‘outsourcing' to bolster their SOC capabilities. His Australian/New Zealand cybersecurity company, 3columns, has loaned him to us again to help us drill down into the pros and cons of outsourced Pen Testing, Red Teaming, and Purple Teaming which the SANS report showed to be the top 3 most outsourced SOC functions. Unless your security team is well-funded to do everything internally, this episode is a “must-listen”. Tune in to the live broadcast on LinkedIn and Facebook every first and third Tuesday of the month at 11:00 am (PST). Subscribe to the ThreatTalk podcast on Apple Podcasts, Spotify, SoundCloud, PocketCasts or your favorite podcast app.

Is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience? If you answered yes to either of these questions, you may be considering outsourcing your benefits administration. Steve Carroll, senior vice president of client services at WEX joins us to talk about the perks of outsourcing your benefits administration and upcoming 2024 benefits administration trends to keep in mind as you prepare for open enrollment. Would you like to learn more about the perks of outsourcing benefits administration? Check out our handout.  

Brandi Allyse joins me on this episode and we talk all things workflow! We spill a little behind the scenes info on our client gifts and why we outsource and how much it can help you in your business. ⁠⁠Snag my presets!⁠⁠ http://education.cayleighely.com/product-tn-sunset-presets ------------------------------- Where you can find Brandi: ⁠⁠⁠⁠⁠Instagram:⁠⁠⁠⁠⁠ @brandiallysephoto ⁠⁠⁠⁠⁠Website⁠⁠⁠:⁠⁠⁠⁠ https://brandiallyse.com/ ------------------------ Where you can find me: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠: ⁠⁠⁠⁠@cayleighelyphotography ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tik Tok:⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠@cayleighelyphotography ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website:⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠https://cayleighely.com/ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Mentorships with me:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ http://education.cayleighely.com/mentorships ⁠⁠⁠⁠Join my Private Facebook Group here!:⁠⁠⁠⁠ https://www.facebook.com/groups/cayleighskillacrew --- Support this podcast: https://podcasters.spotify.com/pod/show/clearlyfocused/support

Guest: Fred Joye, Co-founder of Arcanys, a premier Swiss software development outsourcing firm based in the Philippines. Fred's firm specializes in building and maturing highly skilled, dedicated teams of developers for startups and established businesses. Arcanys is also a Strategic Partner of CEO Coaching International.  Overview: The best companies hire the best people, period. That means even if your tech firm isn't directly competing with Facebook and Google, you're still competing with Facebook and Google for top talent. To win that battle, growing companies need to get creative about how they build, compensate, and motivate their teams. On today's show, Fred Joye discusses how companies can use outsourcing to scale their development teams with top software engineers and compete against BIG tech companies that have more resources. 

Maryam Rusch, former wholesaler now co-founder of Cycle Framework Insights, joins the show:Her best value-add resource as an advisorWhy she decided to Co-Found Cycle FrameworkWhy outsourcing your economist makes sense4 Key Cycles of their Economic FrameworkLearn More and Subscribe TodayDisclaimer:The information provided through this recording are provided solely for informational, educational, or entertainment purposes. Cycle Framework Insights is not endorsed by or affiliated with FINRA. The views expressed today, are not intended to provide legal, tax, investment, or insurance advice. Additionally, the insights, views, and other information provided today do not guarantee future performance of investments. Nothing stated should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or other financial decision.

This is an episode series that will unlock how my business has scaled From Startup to Six Figures: A Journey through SEO and Content Marketing you can apply to your business. --------- EPISODE SUMMARY --------- Unleash your potential for sustainable business success as we promise to arm you with robust knowledge of SEO and organic content marketing. Get ready to be guided through the maze of digital marketing with actionable steps distinguishing between old and new SEO strategies. Bask in the enlightening discourse about Google's recent update and its transformative effect on content creation, and get acquainted with AMP, an Amazon-owned live audio platform, the next big thing in interactive content. We're setting sail on a journey that combines the art of compelling content creation and the science of SEO. We're taking the scenic route through the landscape of digital marketing, stopping at various vantage points such as podcasts and user-generated content, and appreciating their roles in SEO. This journey also takes us through the technical terrain of website optimization, the importance of a robust digital footprint, making your content discoverable, and connecting your website to Google Search Console. As we delve deeper into the episode, we shed light on the business aspect of things. Prepare to gain insights into transitioning from a startup to a six-figure business, managing your finances, and the importance of investing in personal development. We discuss the power of collaboration, the significance of multiple income streams, and the reality of business evolution. So join us as we explore the untapped potential of Heart Radio and how it bridges the gaps between people around the world. Prepare to be invigorated with a wealth of knowledge and strategies to propel your business to the summit of success. --------- EPISODE CHAPTERS --------- (0:00:01) - Understanding Organic Content Marketing (0:12:36) - Amp (0:16:25) - SEO and UGC Content Importance (0:29:45) - The Importance of Organic Content (0:37:09) - Building Links and Utilizing URLs (0:43:07) - Connect Website to Search Console (0:48:30) - Considerations for Business Development and Outsourcing (0:59:50) - Sharing Business Growth Strategies (1:05:39) - Online Business Strategies and Income Streams (1:10:36) - Join Us Tomorrow and Be Appreciated --------- EPISODE KEYWORDS --------- Organic Content Marketing, SEO, Google Update, AMP, Live Audio Platform, Podcasts, User-Generated Content, Website Optimization, Digital Footprint, Discoverable Content, Google Search Console, Startup to Six-Figure Business, Finances, Personal Development, Collaboration, Multiple Income Streams, Business Evolution, Heart Radio, Content Creation, Actionable Steps, Old SEO, New SEO, Website Grader, Pinterest Ads, UGC Content, Spoken Word, Seasonality, Service, Attention, Links, URLs, Programming Minds, Investing in Coaches, Systems, Momentum, Overnight Success, Connecting People NEW SEO COURSE RELEASED The ⁠⁠⁠⁠⁠⁠Demystifying SEO mini-course⁠⁠⁠⁠⁠⁠ is designed to provide marketers and business owners with a clear understanding of the significance of ⁠⁠⁠⁠⁠⁠SEO & CRO⁠⁠⁠⁠⁠⁠ in driving organic traffic with sales for higher website visibility & conversions. Email me at ⁠⁠⁠⁠⁠⁠⁠favour@playinc.online⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Grab My Virtual Business Card here⁠⁠⁠⁠⁠⁠⁠: ⁠⁠⁠⁠⁠⁠⁠https://poplme.co/hash/lQZ4jOcr/2/s⁠⁠⁠⁠⁠⁠ --- Send in a voice message: https://podcasters.spotify.com/pod/show/wedontplay/message

Today, Neillie Butler from Mariée Ami joins Kristin to talk about the evolution of her business, and what it was like to go from $300 in the bank account to running a multi-million dollar wedding planning company with multiple team members. They talk about what business growth really looks like, finding their inner fire, and what it takes to build and sustain a business that delivers every time.  Neillie Butler, the Founder of Mariee Ami, has been in the event industry for nearly two decades. Most of Neillie's days are spent overseeing the strategic planning and logistics for our celebrations happening all across the globe, as well as offering mentorship to the next generation of event professionals that make up the planning team. Our Sponsors: Workflows Podcast presented by Imagen, sign up ⁠⁠HERE⁠⁠ for the "5 Ways to Make More Money in your Photography Business by Outsourcing your Editing" freebie. ⁠⁠⁠Pic-Time⁠⁠⁠⁠⁠⁠⁠ - use code "DangerousCreatives" to receive one bonus month FREE when you upgrade to a paid plan. Valid for new users only. Connect with Neillie:  Instagram: @neillieb and @mariee_ami Website: https://www.marieeami.com ⁠Currently Launching: ⁠⁠⁠⁠Study Abroad Trips ⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Danger School Online Course⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠ ⁠⁠⁠Book a discovery call⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to see which one of our programs might be best for you!  Connect with Kristin: ⁠⁠⁠  Instagram ⁠⁠⁠⁠@⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kristinsweeting⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Credits: Music by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@⁠⁠⁠shammydee⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠   Produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jen Madigan Creative⁠⁠

Learn about how the history and culture of the Philippines made it a leading outsourcing hub. Eric Mulvin and Jake continue their insightful discussion on the Cactus Chat. 

We've built machines to help us make decisions in all sectors of our lives – especially in government. But we don't understand exactly what they're capable of and how they may evolve. David Runciman is author of The Handover: How We Gave Control of Our Lives to Corporations, States and AIs. He joins Ros Taylor in The Bunker to discuss “the machinery of states” and whether AI could learn to outgrow humanity. “We're still unsure whether these machines are going to be good for us, or kill us all.” – David Runciman “What happens if we lose control of these things?” – David Runciman “We've turned these machines into vast, bureaucratic engines … taking in almost every aspect of our lives.” – David Runciman “AI has been completely transformative, for better and for worse.” – David Runciman www.patreon.com/bunkercast  Written and presented by Ros Taylor. Producer: Chris Jones. Audio production: Simon Williams. Group Editor: Andrew Harrison. Managing Editor: Jacob Jarvis. Music by Kenny Dickinson. THE BUNKER is a Podmasters Production Instagram | Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on PowerTips Unscripted, Lauren Campuzano joins the show to discuss outsourcing 3-Dimensional (3-D) Design. 3-D designs can help remodelers sell their plans, but finding the right talent can take time and effort. Lauren found that 3-D designs were great communication tools within the design department, construction department, and sometimes with clients. Creating 3-D models... The post Outsourcing 3-Dimensional Design with Lauren Campuzano- [Best of PowerTips Unscripted] appeared first on PowerTips Unscripted.

#239: I'm speaking to coach, three-time best-selling author, and all-around badass Andrea Owen. Andrea helps smart, high-achieving women let go of five default behaviors that leave them feeling terrible so they can engage in better coping mechanisms around shame. She's here to introduce us to the shame work she writes about in her book, How to Stop Feeling Like Sh*t.   Join us as Andrea and I explore the wound of shame and how our emotional outsourcing behaviors act as an armor to help us avoid shame. She's walking us through the different frameworks she uses to guide her clients through shame, and why approaching yourself with compassion and understanding is key to healing your wounds.   Get full show notes and more information here: https://victoriaalbina.com/239

Another bad day for Qantas ... the airline apologises to workers it sacked during the pandemic - a move the High Court has now confirmed was illegal;

Join Joey Pinz in this insightful episode of Disciple Conversations, where we explore the profound impact of discipline on personal and societal betterment.

This week's episode of Win The Hour, Win The Day Podcast is sponsored by Win The Hour, Win The Day's Signature Coaching Program the Winners Circle. Kris Ward who helps entrepreneurs to stop working so hard interviews,  Chris Pagayon. Are you curious about how to make work easier as a virtual assistant?   Join us as Chris shares her journey and the secrets of overcoming challenges as a virtual assistant. In this episode, you'll discover:-How working as a virtual assistant can be tough sometimes.-The surprising truth about the stress and burnout in the industry.-The game-changing benefits of personalized outsourcing solutions.-Real stories of triumph and success from Chris's own experiences.-Practical tips to find work-life balance, even as a virtual assistant.-The importance of trust and collaboration in building a thriving virtual team.  Power Personality Quizhttp://winbacktimequiz.com/Win The Hour, Win The Day! www.winthehourwintheday.com  Podcast: Win The Hour, Win The Day Podcast  Facebook: https://www.facebook.com/winthehourwintheday/LinkedIn: https://www.linkedin.com/company/win-the-hour-win-the-day-podcast

On the politics of consultancy   [Patreon Exclusive. Sign up @ patreon.com/bungacast]   The past 40 years have seen a whole range of things the state used to do itself outsourced to third parties. Now there is a turn against these practices. But can the state actually get stuff done, or is it doomed for its prior reliance on consultants?   It's not just the left the criticises outsourcing - the right now does too. How do these positions differ? And how are these questions related to another critique – that of 'bullshit jobs'?   Readings & Links: In Clover, Laleh Khalili, LRB (attached) The Big Con — the case against consultancies (review of Mazzucatto & Collington), Diane Coyle, FT (attached) Letter: Groundless assertions about a trusted profession (response from a consultant), FT How PwC captured Australia, Shahar Hameiri, Unherd Consultancies Have Been the Handmaidens of Neoliberalism, Nathan Akehurst, Jacobin Radical Centrism: Uniting the Radical Left and the Radical Right, Ashwin Parameswaran, Macroresilience The limits of government outsourcing, Martin Bortz, Pursuit /267/ South Africa Mafia State ft. Benjamin Fogel

Are you ready to turn the tide on challenging situations? In this episode, we dissect the essence of coping and its pivotal role in managing life's challenges. We move beyond the surface, distinguishing between problem-solving and coping and understanding their unique roles in stressful situations. Our conversation explores how we can harness our resources to modulate emotions, reframe our perspective on challenging situations, and focus our energy on what we can control. We share a process of identifying your internal resources and how to draw from the strength of supportive individuals and environments. It's not just about surviving but thriving in challenging situations. We emphasize the importance of practicing these coping techniques to ensure you're well-prepared to seek help. Here's the list of episodes related to today's discussion, and we highly recommend listening to them as well:#221 | Motivation Monday: This is An Easy Way to Improve Your Mood - https://apple.co/3Ri4WSk #106 | The Difference in a Fixed vs. Growth Mindset Culture - https://apple.co/3ZEnuhg _________________Connect with Emilia, Bianca & the EVOLVE VENTURES Community:Website: www.evolveventurestech.com Instagram - https://www.instagram.com/evolveventures/  Facebook - https://www.facebook.com/EvolveVenturesTech  (Public Page)Private Facebook Group - https://www.facebook.com/groups/457130589193794 Emilia's IG - https://www.instagram.com/evolvewithemilia/ Emilia's TikTok - https://vm.tiktok.com/TTPdkYujDR/ Bianca's IG - https://www.instagram.com/evolvewithbianca/ Connect with Emilia & Bianca from Evolve Ventures for FREE: https://bit.ly/3THiEN4Show notes:[2:27] Coping vs. Problem-solving skills[6:21] The power of changing the narrative[9:08] Leveraging the right resources[10:54] Finding solace in personal activities[12:56] Outsourcing support from trusted individuals[19:22] Outro***Leave them a 5-star review if you felt their energy, became inspired, or felt as though value was added to your life in your EVOLUTION.(Stay tuned for this Thursday's episode!)

Episode #308 - Unlock more time and profit in your rental property ventures by making strategic hires, understanding the vital role of an asset manager, and harnessing the power of an integrator to take your real estate game to the next level.

On this episode of the Dangerous Creatives podcast, Kristin is joined by Praise McKenna, a brand photographer and coach based in San Francisco. They chat all things branding, core values, and how to create a  personal and professional brand that keeps people coming back for more.  Praise Santos McKenna is the founder of the branding studio ComePlum and has a love for puns, pretty things, and people. She lives in San Francisco where she photographs female entrepreneurs and coaches them on how to scale their businesses for social impact. Her photos have been featured in Vogue and Forbes and she has taught workshops for the Golden State Warriors Dance Team and Shopify. When not working, you can find her with her husband Barry and their dog Bubbles sniffing out the best pastries in San Francisco.  Our Sponsors: Workflows Podcast presented by Imagen, sign up ⁠HERE⁠ for the "5 Ways to Make More Money in your Photography Business by Outsourcing your Editing" freebie. ⁠⁠Pic-Time⁠⁠⁠⁠⁠⁠ - use code "DangerousCreatives" to receive one bonus month FREE when you upgrade to a paid plan. Valid for new users only. Connect with Praise:  Instagram: @comeplum Website: www.comeplum.com Free Brand Foundations Worksheet Currently Launching:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠Study Abroad Trips ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Danger School Online Course⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠ ⁠⁠Book a discovery call⁠⁠⁠⁠⁠⁠⁠⁠⁠ to see which one of our programs might be best for you!  Connect with Kristin: ⁠⁠⁠  Instagram ⁠⁠⁠@⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kristinsweeting⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Credits: Music by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@⁠⁠⁠shammydee⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠   Produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jen Madigan Creative⁠⁠

Karla Singson is an entrepreneur who runs 3 businesses: A flower shop and PR Company based in the Philippines as well as a recruitment company that provides full managed outsourcing so you can scale your business fast and easy.In this episode, you'll discover how she grew her businesses without spending a dime on ads. Karla shares her journey of overcoming self-limiting beliefs, how to manage your time as business owner, the secret to motivating remote teams, the importance of focusing on customer experience and what to do to craft winning growth strategies. https://proximityoutsourcing.com/vaultNew Episodes every Monday!www.stringcastmedia.com

BONUS: The Surprising Costs Of Outsourcing Software Development, And Effective Outsourcing Strategies with Douglas Squirrel Read the full Show Notes and search through the world's largest audio library on Scrum directly on the Scrum Master Toolbox Podcast website: http://bit.ly/SMTP_ShowNotes. Squirrel delves into the misconception that outsourcing engineers overseas automatically leads to cost reduction in software organizations. He explains that while the salary expenses might be lower for offshore teams, other costs come into play.  He illustrates the situation with an example involving two tech teams, one located onshore in California, USA, and the other in India. The Indian team had one quarter the salary of the onshore team, prompting the question of why the more expensive US engineers are retained. The discussion highlights the importance of evaluating the genuine costs of offshoring beyond just salaries. Additionally, Squirrel raises the question of which team is more productive and points out the time zone difference as a significant factor impacting communication and coordination.  Surprisingly, when the overall costs are tallied, they often don't exhibit a substantial difference due to various expenses that often get ignored. The aspect of speed of delivery is also examined, and the suggestion is made to have a local representative support the outsourced team to facilitate smoother communication. Beyond the operational costs, we also talk about how difficult it is to maintain effective communication between teams, and the cost of frequent international travel.  Squirrel emphasizes the necessity of having experienced individuals in the offshore team, highlighting that it's even more important to hire very senior people in offshore teams. We also discuss how hard it is to find accommodation for senior engineers that move to the offshore locations. Effective Offshoring Patterns Squirrel delves into the patterns that can enhance the effectiveness of offshoring. The concept of near shoring is introduced, especially when there are significant challenges in finding talent close to the headquarters.  The discussion then pivots to the importance of team organization for offshoring success. The idea of cross-functional teams or feature teams is introduced as an effective approach. Squirrel references FeatureTeams.org, emphasizing that these teams possess the flexibility to work on any feature, thereby minimizing communication dependencies.  A strategy to integrate feature teams across regions is presented through the "ambassador pattern," which involves designated individuals who bridge the communication gaps between teams in different locations. Optimizing Communication and Resources for Remote Teams We also discuss how to optimize communication and resources for remote teams. Squirrel introduces the notion that outsourcing and offshoring may be a possible solution to solve the talent problem by tapping into global talent pools. He offers practical tips, such as conducting all meetings online and making it a rule to always include offshore team members. Creating opportunities for "osmotic communication" – the exchange of information through casual interactions – is suggested as a means to foster team cohesion across distances. Recommended Resources The episode concludes with a list of recommended resources for further exploration. These include Stack Overflow's own experience about fully remote work, Squirrel's own website (DouglasSquirrel.com), Team Topologies (a topic which has been presented on the podcast by its authors Matthew Skelton and Manuel Pais), the FeatureTeams.org website, and the virtual office platform Sococo. Throughout the conversation, Squirrel provides insights into the complexities of offshoring, shedding light on the multifaceted considerations that impact its success. From cost evaluation to effective team organization and communication strategies, the episode offers a comprehensive overview of the nuances surrounding offshore software development teams. About Douglas Squirrel Squirrel has been coding for more than forty years and has led software teams for twenty. He uses the power of conversations to create dramatic productivity gains in technology organisations of all sizes. Squirrel's experience includes growing software teams as a CTO in startups from fintech to biotech to music, and everything in between. He lives in Frogholt, England, in a timber-framed cottage built in the year 1450. You can link with Douglas Squirrel on LinkedIn and connect with Douglas Squirrel on his website. 

Want to scale your business and make more money? You're going to have to figure out how to leverage your time better!This week on The Life Changing Money Podcast, I am diving into multiple different ways you can create more time to grow and scale your business.Topics discussed on today's episode: Specific ways you can leverage your time when scalingHow to decide what to outsource first Strategies to quickly onboard new team members >>>> Don't forget to sign up for the FREE Write Off Your Life Masterclass HEREWrite Off Your Life Course How To Get Involved:Life-Changing Money is a podcast all about money. We share stories of how money has impacted and radically changed the lives of others, and how it can do the same for you. Your host, Barbara Schreihans (pronounced ShREE-hands) is the founder and CEO of Your Tax Coach, and the Creator of the Write Off Your Life Course. She is a kickass tax strategist, business coach, and all-around master when it comes to wealth and finances. Barbara aids business owners and high net-worth individuals in saving tens of millions of dollars in taxes while also growing their profits.When she's not leading her team, coaching clients, or dreaming up new goals for her company, you can find her drinking coffee, hanging out with her family, and traveling the world.Grab a cup of coffee and become inspired as we hear from those who have overcome and are overcoming their self-limiting beliefs and money mindsets!Do you have a burning question that you'd love to hear answered on a future show?Please email it to: podcast@yourtaxcoach.bizSign Up For Our NewsletterLife Changing Money PodcastGet Tax Help!

In today's episode, Dr. Monikah and Amy dive into a critical decision that many businesses face - when to build an internal team versus when to outsource tasks and projects. With the growing availability of freelancers and agencies, it can be challenging to determine which approach is best for your business. Join them as they discuss the pros and cons of each option, along with some guiding questions to help you make an informed decision.1.  Prioritize hiring staff who will generate revenue (appointment setter, marketing assistant,  administrative assistant)2. Outsourcing can be a great way to improve your efficiency and productivity by freeing up your time so you can focus on the things that matter most. So, tune in to learn how to make the right choice for your business and take your team management skills to the next level.Connect with Amy and Dr. Monikah on Instagram: Amy: @amywalkercoachDr. Monikah: @monikahogando

If we are to prepare a future that welcomes 10 million people in Ireland, we need take back control of public infrastructure project costs because these runaway costs are hindering our growth and reducing public confidence in the state. Join the gang! https://plus.acast.com/s/the-david-mcwilliams-podcast. Hosted on Acast. See acast.com/privacy for more information.

This week's episode of Win The Hour, Win The Day Podcast is sponsored by Win The Hour, Win The Day's Signature Coaching Program the Winners Circle. Kris Ward who helps entrepreneurs to stop working so hard interviews,  Karen Laws. Ready to break free from the chaos that's holding your business back?Well, you're in for a treat!Listen in as Karen Laws and I hit it hard, talking about the real game changers in business and life. In this jaw-dropping chat, you'll discover: -How an entrepreneurial quiz can unlock your potential.-What virtual assistants can do to level up your game.-The overlooked systems and processes that can save your sanity. Whoa, trust me, you don't want to miss this one!  We're tackling the entrepreneurial challenges that keep you up at night.  So, plug in those earbuds and prepare to be amazed.  You're just one listen away from transforming your business and ditching the stress!  Power Personality Quizhttp://winbacktimequiz.com/Win The Hour, Win The Day! www.winthehourwintheday.com  Podcast: Win The Hour, Win The Day Podcast  Facebook: https://www.facebook.com/winthehourwintheday/LinkedIn: https://www.linkedin.com/company/win-the-hour-win-the-day-podcast  You can find Karen Laws at:Instagram: https://www.instagram.com/karenlawslive/Facebook:  https://www.facebook.com/ontariodogtrainerYouTube: https://www.youtube.com/@TheOntarioDogTrainerWebsite: https://ontariodogtrainer.com/  Win The Hour Win The Dayhttps://www.winthehourwintheday.com

The idea of buying a list seduces many financial advisors. In the past week alone, 9 financial advisors told me they were buying leads.  And I get it: Outsourcing your lead generation to a third-party company is appealing.  But there's a big, fat problem with buying leads: It's like putting all your money into a savings account that only grows your wealth by 1% per year. Worst part? It makes your job of persuasion even harder, and means you have to work harder for fewer shekels.  That's the bad news.  The good news? In today's show, I reveal why buying leads is one of the worst things you can do, more effective ways to spend your money than buying leads, and how creating your own assets beheads your competition before they even have a chance with your ideal clients.  Listen now. Show highlights include: Why buying leads is like stuffing your savings account for a 1% return (1:28)  How to get highly qualified leads for as little $7.50 per lead (3:06)  The weird way buying leads gives your competitors an unfair advantage (and better ways to spend your money to generate an absurd ROI) (7:29)  Why gurus almost never market to you in the same way they teach you to market (and why this is tanking your results) (10:08)  How to land 10-40 new appointments by only investing $1,000 in this “forgotten” marketing channel (15:57)  Want access to my 57 favorite financial advisor marketing ideas? Download the free PDF at https://theadvisorcoach.com/57mt  Want to become an expert at niche marketing and put growing your business on “easy mode?” Then join my niche marketing program here: https://www.theadvisorcoach.com/niche.html  Need help getting more clients as a financial advisor? I created a free, 53-minute video outlining the steps to my “CLIENT Method,” which helps financial advisors land more clients. Watch the video before I take it down here: https://www.theadvisorcoach.com/theclientmethod.html  If you're looking for a way to set more appointments with qualified prospects, sign up for James' brand new webinar about how financial advisors can get more clients with email marketing.  Go to https://TheAdvisorCoach.com/webinar to register today.  Go to https://TheAdvisorCoach.com/Coaching and pick up your free 90 minute download called “5 Keys to Success for Financial Advisors” when you join The James Pollard Inner Circle. Want to transform your website into a client-getting machine? Go to https://www.theadvisorcoach.com/website to get The Client-Getting Website Guide.  Want a masterclass training in running effective Facebook Ads? Head to https://TheAdvisorCoach.com/ads-training.  Discover how to get even better at marketing yourself with these resources: https://www.theadvisorcoach.com/financial-advisor-sales-training.html https://www.theadvisorcoach.com/financial-advisor-coaching.html https://www.theadvisorcoach.com/4-linkedin-tips-for-financial-advisors.html

1210 Hello, Tech Enthusiasts and Visionary Entrepreneurs tuning into the Business Bros podcast! Today, we have a trailblazer in the world of software development joining us. He's an Account Executive at Aloa, a company that's transforming the way businesses approach software outsourcing. Our guest is all about pairing you with the perfect development partner through a blend of expertise and cutting-edge technology. He'll be sharing insights into Aloa's unique approach, focusing on R&D rather than traditional growth. So, if you're looking to enhance your tech projects with transparency, quality, and efficiency, you're in for a treat. And now, let's welcome to the show, Dawei Li! Website: https://aloa.co/ Social Media: https://legendarypodcasts.com/dawei-li/https://aloa.co/ __________ Go to www.BusinessBros.biz to be a guest on the show or to find out more on how we can help you get more customers! #Businesspodcasts #smallbusinesspodcast #businessmarketingtips #businessgrowthtips #strategicthinking #businessmastery #successinbusiness #businesshacks #marketingstrategist #wealthcreators #businessstrategies #businesseducation #businesstools #businesspodcast #businessmodel #growthmarketing #businesshelp #businesssupport #salesfunnel #buildyourbusiness #podcastinglife #successgoals #wealthcreation #marketingcoach #smallbusinesstips #businessmarketing #marketingconsultant #entrepreneurtips #businessstrategy #growyourbusiness Want to create live streams like this? Check out StreamYard: https://streamyard.com/pal/d/6164371927990272 --- Support this podcast: https://podcasters.spotify.com/pod/show/businessbrospod/support

Should I provide baby gear, BBQ grills, and other extras to my airbnb guests?Outsourcing is an option with vacation rental equipment rental companiesIf you are going to offer it, the extras need to be maintainedConnect with Me: john@vacationhomehelp.comThis episode is brought to you by the Vacation Rentals with John Newsletter my very own email newsletter every Friday that features 4 bullet points highlighting cool things I found this week in the short term rental world including apps, books, tech, new hacks, tricks, articles, and other weird but interesting short term rental stuff of value that I stumbled upon. It's free and will always be free. You can subscribe here.

On this episode of the Dangerous Creatives podcast, Brittany from Brittany Elise Photography joins Kristin as they talk about how to transform your business through service-driven client experiences, in-person sales, building a team, beating income caps, and making real connections with your clients.  Brittany Elise is pioneering the full-service photographer movement teaching photographers how to implement services and finished products to build a million-dollar business that not only serves their clients but fulfills their hearts and their bank account. Brittany's mission is to call service-hearted photographers into action to be more for their clients, providing an amazing experience and leaving their work finished with luxury products. Her approach is to provide intentional strategies and actionable plans to build a steady stream of income consistently booking clients who value more than just digital images. Our Sponsors: Workflows Podcast presented by Imagen, sign up ⁠HERE⁠ for the "5 Ways to Make More Money in your Photography Business by Outsourcing your Editing" freebie. ⁠⁠Pic-Time⁠⁠⁠⁠⁠⁠⁠ - use code "DangerousCreatives" to receive one bonus month FREE when you upgrade to a paid plan. Valid for new users only. Connect with Brittany:  Instagram: @brittanyelisephotography Website: https://brittanyelise.com Currently Launching:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Study Abroad Trips ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Danger School Online Course⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠ ⁠⁠Book a discovery call⁠⁠⁠⁠⁠⁠⁠⁠⁠ to see which one of our programs might be best for you!  Connect with Kristin: ⁠⁠⁠  Instagram ⁠⁠⁠@⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kristinsweeting⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Credits: Music by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@⁠⁠⁠shammydee⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠   Produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jen Madigan Creative⁠⁠

This isn't Bertin Nahum's first surgical robotics rodeo. The CEO of Quantum Surgical previously co-founded, led and ultimately sold surgical robotics pioneer Medtech S.A. to Zimmer Biomet. Now, he's leading several members of that founding team as Quantum Surgical develops a next generation of surgical robot to enable easier removal of cancerous tumors. Nahum brings great insight and perspective to the topic of surgical robotics, which is why he'll sit on a panel of surgical robotic company CEOs and provider represents to discuss what surgical robotic systems of the future may look like. Register at DeviceTalks.com. Joining co-hosts Chris Newmarker and Tom Salemi is Danielle Kirsh, senior editor of MassDevice, to review a few of the highpoints of the current Medical Design and Outsourcing issue of the Big 100. We'll talk about headcounts, R&D spends and CEO salaries. You can find the issue of the Big 100 here. https://www.medicaldesignandoutsourcing.com/september-2023-medtech-big-100-largest-device-companies/ Thanks for listening to the DeviceTalks Weekly Podcast. You can subscribe to the DeviceTalks Podcast Network on any major podcast application.

Podcasting can be a highly rewarding endeavor, but it can also be demanding and potentially lead to burnout if not managed well. Here are seven ways a podcaster can avoid burnout: Set Realistic Goals: Define clear and achievable goals for your podcast. Avoid setting unrealistic expectations for the frequency of episodes, listener numbers, or monetization. Setting achievable goals will reduce unnecessary pressure and stress. Create a Consistent Schedule: Establish a regular podcasting schedule that you can realistically maintain. Whether it's weekly, bi-weekly, or monthly, consistency helps manage expectations for both you and your listeners. Batch Content Creation: Instead of creating episodes one by one, consider batching your content creation. This involves recording and editing multiple episodes in one sitting. This approach can help you maintain a consistent release schedule without constantly being in "production mode." Delegate and Outsource: You don't have to do everything yourself. Delegate tasks such as editing, social media management, or episode promotion to others if possible. Outsourcing certain tasks can free up your time and reduce the workload. Prioritize Self-Care: Remember to take care of yourself. Get enough sleep, engage in regular physical activity, and maintain a healthy diet. Engaging in activities you enjoy outside of podcasting can help prevent burnout. Set Boundaries: Clearly define boundaries for your podcasting activities. Avoid letting your podcasting endeavors encroach on personal time, and communicate these boundaries to your listeners, co-hosts, and collaborators. Stay Inspired: Continuously seek inspiration for your podcast. Explore new topics, formats, or interviewees to keep your content fresh and engaging. Staying excited about your podcast can prevent the monotony that can contribute to burnout. Remember that burnout is a real concern, and it's important to monitor your mental and physical well-being. If you notice signs of burnout, such as increased stress, fatigue, or a lack of enthusiasm for your podcast, don't hesitate to take a break, seek support, or make necessary adjustments to your podcasting routine. Thanks so much for listening, I really appreciate it so much. If you need any help with your podcast, feel free to reach out. My email is podtasticaudio@gmail.com  The Kris and Kristine Show Podtastic Audio Twitter Instagram LInkedIn    

EP309 - Instacart IPO Filing  Warning: Given the complexity and breadth of topics, this is a longer than usual episode with a runtime of 90 minutes (if we had more time, we'd produce a shorter podcast). Update: In this episode Jason mentioned that he didn't think Instacart accepted SNAP payments. It turns out that Instacart did start accepting SNAP earlier this month. On Friday, August 25th 2023 Instacart filled its S-1 IPO form with the SEC, in advance of its intention to make an initial public offering. The complete filing is almost 400 pages. In this episode we summarize all the key points, including a number of surprises, in the filing. If you want to follow along with the actual S-1, you can download it here. Scot suggests you focus on pages 101-124. Topics Covered: Cover Page and Entry Level Items Overall Growth Trends 25:50 Unit economics 42:90 Cohort Analysis 48:10 Instacart Ads 56:30 The Big Risk/Concern 1:00:11 Other observations (Instacart+, Carrot Services, Generative AI) 1:22:50 Other episodes mentioned: Episode 255 - Instacart Chief Revenue Officer Seth Dallaire and Episode 224 Customer Cohort Analysis and CLV with Dr. Daniel McCarthy. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 309 of the Jason & Scot show was recorded on Tuesday, August 29, 2023. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Jason: [0:23] Welcome to the Jason and Scot show this is episode 309 being recorded on Tuesday August 29th I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:38] Hey Jason and welcome back Jason and Scot show listeners. We are going to jump into the talk tonight because one of our most popular shows as you know Jason the format is a deep dive and we have got a great Deep dive for you guys this episode. Last Friday August 25th there was a very big event not only in our favorite world's grocery which is Jason's favorite world and my favorite world of e-commerce and then Jason's favorite world of. But also in my favorite world of startups so this is this is a pretty big event and we wanted to dedicate a complete episode to it. I mean it is the filing of the S14 instacart. [1:24] And just to set it up the you know in my world of start-up land it has been very hard to get an IPO done so there's been a couple post coated and like late 2020. And then summon 21 and then there's been a dry spell there's been something called a dese back so you have this spec which is this. [1:44] Special-purpose acquisition thing and you can kind of go public through this kind of complicated convoluted thing. Tends not to go very well so there's been some of that like in My World Mobility there is one called get around and there's been a couple others and those typically have not. Gone so well they're down like 95% bird the scooter company did this as well. So it's been a very dry IPO market for startups and thus of interior backed investors. So there has been a lot of anticipation around when is that a PO when they're going to open who's going to be brave enough to kind of stick their foot out there first. And you know a lot of people have been rooming that instacart would be out there there's a couple other companies in this kind of unicorn Stratosphere stripe is another one that we cover a lot on the show from the payments world. There's also the others you can think of Jason there's this one. There's a software one that is just doing really well in AI that's been mentioned a lot not not open AI it'll come to me in a minute. So you know so this is kind of the real. Bang the Big Bang of here's a company that is being brave enough they're gonna go first and we're going to see what happens so it's going to be really interesting and we thought because it hits this Venn diagram of all of our favorite things that we would spend a fair amount of time on. [3:10] So first of all this is a 400 page document so our value add to the listeners is we have distilled it down into what we think are the most interesting little tidbits and some of the things we've learned from instacart it is nice because there's been a lot of rumors about how instacart Economics work and Jason has been tracking their ad piece which is you know cpgs have really seen some really nice results from that so we know that's been active and the areas we picked apart we thought we would cover tonight is I wanted to kind of give you a quick and dirty Scott's guide to reading an s-1 and we'll start at the cover page that's there's actually a lot that happens on the cover page so I want to spend a little time there and kind of give you a little I haven't taken a company poet behind the scenes of what's going on on there and then we're going to talk about some of the overall growth things that just kind of help you understand. [4:07] How to think about instacart how they're growing and what they do and what role they play and then unit economics one of the things that is happening more and more in these s1's is they're doing a more comprehensive cohort analysis and this is basically showing hey if if I car to a customer in a certain period how are they doing now and what are those Trends so that this this had a lot going on there of course we want to talk about the ad business and then little bit of a catch-all for other observations, Jason anything I missed before we jump into the cover page. Jason: [4:42] No I think you mostly covered it just one slight correction it's four of our five favorite things for those listeners that tuned in to hear us talk about Ahsoka we're going to do that on an upcoming episode so that Star Wars would be our fifth. Scot: [4:56] Yes sadly there was no Star Wars in this one so it's that one little part of the over the Venn diagram was left is its own little circle out in space. Jason: [5:06] That's a we call that a teaser for a future episode. Scot: [5:09] Yeah yeah we're we're Pros were 300-plus episodes into this thing and this is the kind of you know Pro level that we deliver on the pod. So you guys missed it Jason forgot to plug in his microphone earlier so that's a yeah we're still still learning every day, so when you open an s-1 the first thing you see is the cover page and it you know a lot of people just Breeze by it because it's a cover page but it has a lot of really valuable information so first of all the first thing that I noticed is I was searching for this on Edgar and I kept typing in instacart and it wouldn't show up and I was like WTH I know this s1's out there why can I not find it and then I saw an article and it said oh the company's real name is maple bear so that's the first thing you see on the cover is the company we all refer to as instacart its actual Corporation name is maple bear and it does business as instacart so I thought I did not know that prior so that was the first thing I learned right there on the cover so that's interesting so if you do go to the will put a link to the s-1 in the show notes but if you do Brave the Edgar SEC database yourself throwing a little Maple bear there and not instacart. Jason: [6:22] Not to be confused with Amazon's house brand Mama Bear. Scot: [6:26] Yeah yeah and I'm sure there's a honey bear and brown bears there's a there's a lot of a lot of bear things going on. The other thing that I was like to see is what symbol are they using I think it's fun to kind of you know as an entrepreneur to kind of think about what symbol you're going to use that best personifies your brand Channel Bowser we had ecom's so that was an exciting one so we captured e-commerce Shopify go. Jason: [6:52] The best ticker symbol of all times by the way. Scot: [6:55] Thank you thanks thanks I appreciate it. Shopify head shop and that was a good one and instacart / Maple bear is going with cart so I think that's a that's a that's a pretty nice one you know it kind of there a multi grocer chart cart and we all think about instacart I'm sure they hate being called Instagram so this kind of like really punches on the cart so maybe they get away from everyone mistakenly calm Instagram. Jason: [7:19] I think it's solid. Scot: [7:20] Yeah A-Plus on the symbol and then in the you'll notice that a lot of the evaluations and how many shares they're selling are blank and that's you know in this draft of this one which is the first kind of public one that they're dropping out there they'll they'll iterate a couple more times they'll do their Roadshow and then write one that, it prices they'll update the S12 include all that information so they'll make kind of literally a game day decision the night before IPO of how much based on the order book how much they want to sell and at what price so that, that's going to be blank through probably several more iterations as we go on then this is did you want to do something in. Jason: [8:04] No I was just I was just thinking that they I assume they left it blank because the underwriters were out of practice. Scot: [8:10] Yeah no no they they are there waiting and that's a good point because when you go public the the companies that take you public in this context they're all investment banks on Wall Street. But they they filled this role of Underwriters and basically what they're doing is they're acting as market makers they're going to cover your stock when it's public and they're also going to be basically pounding the pavement to sell your stock to buy side by side analysts and firms on Wall Street. Which there's two buckets of there's mutual funds and hedge funds there's also retail that I guess there's three buckets, retail would be you log into Schwab or Robin Hood and the diet of the IPO you try to buy some chairs that's retail and they all allocate a little bit of that for the IPO so they like retail to come in and get a little taste. [9:04] A lot of folks that if you're an accredited investor at an institution and you have a wealth manager, sometimes you can get a little bit of access to an IPO before it prices you don't get a special price or anything but you can if you're really excited and you're a retail customer you and you're in this kind of wealthy bucket then you can you can get some allocated shares I think is what they call it these call this friends and family they don't call that, that anymore that's called a allocated shares but what's important about the underwriters is there's actually a signal there several signals here and I didn't know this time went through the process. First of all they have lined up a who's who of investors so even before you get to Underwriters they have this really interesting note right before right underneath before they get in the underwriters and they say oh by the way we have lined up these investors already that have committed to buying and they have committed Asterix and then they kind of like take away the committed but. [10:05] I think that's a legality I think I think it's a pretty hard commitment is my reading of them and they basically say these guys are already these guys have lined up to buy at least 400 million in this offering. Regardless of the price and there's some big names in there there what I would call. Public-private so they have invested in instacart already as a private entity and then they have another side of there. Firm that invest in public entities and they have said that side is going to support the private side and that's nor just Bank tcv. [10:38] Sequoia and a couple others this is very unusual but I think it's an interesting play because it basically says to the market. Hey you don't have to worry about this thing you know taking on the first day because we're going to were signaling to you we're going to place a chunk of this with these folks that are long-term holders and they're going to backstop this thing I think of it as a adding a floor to the IPO basically saying we know it's been a while we know there's risk out there we're going to have a floor on this so so there's built-in demand for this IPO so that's quite unusual and this is the first time I've ever seen anything like that sometimes you'll see tiro price is a big one a big mutual fund that likes to do this or they'll have a private-public and they'll say you know they'll kind of suggests that, they're interested in buying more and they'll come out and say they don't plan to sell or they've accepted a lock up for a year or something like that I've never seen such a strong message as this one so I thought that was interesting. Okay then we move to the bottom of the cover and that's where you have the list of the underwriters and what's really interesting is the way this works is the bigger your font the bigger a role you play in the IPO so on this one the biggest font is Goldman Sachs and JP Morgan and you know they have I don't know what would you say Jason like a 40 Point font. Your. Jason: [12:03] Yeah I had to read it with my my PDF zoomed way up so I feel like I yeah but it was a big font. Scot: [12:11] Yeah yeah so those guys get like a you know they're kind of really big and then what's also interesting is where you show up on the page is important so your importance starts at the left and goes down to the right so the most important what we would call the vernacular is the lead left which is the biggest font on the left side of the cover is the lead Investment Bank and as Goldman Sachs and they're they're The Bluest of Blue Chips everyone wants Goldman Sachs if they come out. [12:37] And then usually you want either JP Morgan or Morgan Stanley now JPMorgan has increased greatly and stature over the last three years because they have weathered coded and they have basically absorbed most of Silicon Valley Bank's deposits and a lot of these other riskier Banks and their CEO is pretty famous Jamie dimon so they've this is kind of you know two blue tips on the top of the book here which is pretty interesting and then, then you kind of go down a bit and you end up with 18 more Underwriters and there's like three levels of them there's like the font gets smaller so you go from 40 point to 20 point then you go to like kind of like 15 point and you go to seven point and you know what's interesting is I have never seen this many Underwriters either so they basically have said we want everyone on Wall Street lined to go and help us sell this we will turn no Rock no Rock will be unturned looking for buyers of instacart stock with the institutional investors. There's some International Players so they've basically if you kind of said if you if you. [13:53] Few War Room doubt what are some things a company could do 2D risk an IPO they have done things I've never seen before times like three and then the last thing that's interesting is the economics each of these Banks gets kind of depends on where they are on the page so you know if it all this gets him to like, there's all this Machinery but these guys do it because they make money so Goldman will make their kind of highest percentage and then JPMorgan and so on and so on based on how much they contribute to the book and all this kind of calculus that goes on behind the scenes so I thought that was kind of a really interesting just on the cover some things that were very unusual from other IPOs I've seen Jason anything that you found on the cover that was riveting. Jason: [14:43] We'll know I did. I have a question for you though I got I guess I when I saw all of those Underwriters I kind of and perhaps erroneously assumed that part of what was going on here is, it's been a while since there were in any IPOs that went through an underwriter and that all of the underwriters are out there. Desperate for four deals and that therefore. Instacart had more more leverage to get more Underwriters like is it. Is it literally instacart just agreed to pay more for these two more Underwriters 2D risk the IPO is that. Scot: [15:23] Yeah I think. So human nature is that the lead laughed and Lead right want to absorb a lot of the deal and don't want to share too much so so typically there's some friction there right so they'll be like yeah you could add a couple and they use this tearing language I don't you know this is just kind of how I don't know who how they know what who's what dear, but tier one is Goldman Morgan and JP Morgan Morgan Stanley and then tier 2 is you get kind of Stiefel, a couple others in there then you go tier 3 and then you kind of have like an international kind of tearing as well so usually you get like two from Tier 1 Maybe two or three from tier 2 and then that's kind of it and then if you've if the company feels strongly like another consideration is when you go public one of the things that helps you long term is to have analysts that follow your stock and we've had many of these analysts on our show Mark mahaney Collin Sebastian these are and then Scott Devitt he was at stifel and he's moved on to another shop these are these are famous people in the internet marketing world so you want take Mark sets, I wasn't even as Fern was he ever green but that's not it. [16:40] Ever Quorum so so you as the company can say the Goldman hey I know you guys want to keep a lot of Economics but I want mahaney on this and we got to get ever Cora so some of those on the bottom are probably International distribution retail or something the company wanted kind of specific to add them on and you know that was all pre-negotiated with Goldman getting lead left they had they kind of had to acquiesce to having a bit of a large number of Underwriters on there so I don't yeah I don't think I'm sure they all wanted to be to your point like there certainly wasn't even saying no to being invited to this and they probably you know you just bake off in this was I came to imagine if they ended up with 18 like, mr. started with 80 I don't know it's crazy that was probably like a. Six week bake off just to hear from all the bankers so yes I think there's more around the analyst going on with with the large number on some of those. Jason: [17:39] Got it and then I want to hear your speculation about where the price might come in but I'm trying to remember the details there's been a lot of interesting things going on with the private placements before we got to this point right so I think the some of the valuations of the private placements were at some point disclosed and then I want to say instacart reset there. Their valuation at a lower number while they were still private like presumably to make the equity appealing for employees. Scot: [18:17] Yeah the sequence of events and this is all you know they don't disclose all this in this one because it's kind of like. Jason: [18:25] Sure I'm just trying to get the the Run. Scot: [18:27] The Whispers And if you read some of these you know I subscribe to a lot of things that talk about some of this kind of rumors and so take it with a grain of salt but there was some sequins like they were chugging along and then Covent hit and it was like Off to the Races vertical and I think the wheels kind of came off the bus and they started to lose money because the unit economics weren't weren't ready for for like a surge like that and then right around 21 they replace the CEO and they had to kind of emergency raise some Capital which is kind of like one of the worst times to do it because even though their revenue was surging the rest of the market was in the toilet basically so I think they had to do a Down Round And what I've heard is their bed raised money as high as 39 billion and then they took this haircut at with this new CEO in this kind of re leaning down the company at about 13 billion so. [19:19] So I think that's kind of like the watermark is kind of where they've last raised money and if you look at their revenue that's actually not that's a very reasonable Place given where you know they've grown since then but now what's the revenue like four billion ish yeah so they're like 3 billion and 22 in revs so that's like a four times Revenue which is pretty reasonable for a company growing the way they are with with good profitability so I would be I would not be surprised we don't we won't know this per share price until we see the denominator and they didn't have the denominator which is market cap divided by number of shares equals share price we don't know the number of shares so I would I would suspect. I'll guess, four billion I'm gonna guess 20 billion would be a low like I think it will price they're on the low end and it could go as high as 25 30 depends on you know. Retail and how much momentum it gets with with buyers. Jason: [20:26] And part of the art here is you don't you don't want to price it too low because that means you you have money on the table when you sold your Equity but you also don't want to price too high and have the, the stock like go down from the offering price and get below water right away right so. Scot: [20:49] Yeah it's very common we kind of had this situation at Channel visor we went public right after you know cortical right after in a longer time window of 08 09 and you know they strongly we had golden lead left and they strongly encouraged us to think long-term and not get obsessed about that pricing and leave a little bit of money on the table and yeah and then over time you could do a secondary at a higher price and you really want to you don't want to tank especially in a tepid market so I'm sure this was all part of the um you know Goldman would counter negotiate this to be lead left and say look we we need your commitment that your yep part of the pitch is they give you what they think it's worth and how it's going to price and they also discuss the strategy and that's part of the selection processes and you would think it would be. Okay whoever says they're gonna give me the highest price but you actually kind of they really stand out a lot because the Goldman people can talk about Dave, they've got like a lot of data to back up their strategy and you know there's like Watson there that that are. It would make your head spin and so they do a really good job of talking about why it makes sense to price the way they think and how how they see it over a longer Arc of time. Jason: [22:12] Gotcha so the guys with all the money have really good justification for why you shouldn't worry so much about the money. Scot: [22:18] And then the other thing to know though is what typically happens is you are not sharing you're not selling any one shares so the company so as part of this IPO the company will issue new shares so so you as the founder and the other investors you still have your shares you're not actually selling them at this moment so you know in a way now you get diluted right so the flip of that is your percent ownership goes down but you know it's kind of the would you take a little bit smaller. Of that and long term when you can sell your shares as the investor and the founder and the team and the people that bet on you now you know can you execute and deliver and then earn your way into a higher price and then that's when you can kind of like get some equipment sir. Jason: [23:08] Do you want a little bit of a grapefruit or all of a grape. Scot: [23:11] Yes exactly yep that is a good description. [23:17] Okay so here's here's the other part of the quick and dirty guide to reading the S1 you can take so that's cover is really good and then you take the literally the next let's see what is it. 100 pages and you can toss them so this is where the lawyers come in and they love to make sure you understand all the risk factors you know a meteor could hit the Earth people could stop needing groceries cybersecurity I could be no one wants to shop for them it could be they'll compete with a bunch of people Amazon is always a risk factor Google Microsoft. So all that really doesn't add value and then there's a little bit of financial stuff but it's it's pretty dry and it's kind of like from the Auditors almost so it's like super drive so it always do is you skip to the part of this one we're finally the lawyers have earned their large fees and they vomited forth 100 pages of risk you know stuff. And then you get to write your story and that's called the Management's discussion and Analysis in the industry it's called the md&a. [24:27] It's confusing I thought for a long time it was md&a because Aaron says mdna really fast and they're saying the word A and D and it sounds like an end to me and I kept saying what the heck does md&a stand for they're like what do you mean what's up what are you saying. It's like a who's I first got a thing but it's md&a so Management's discussion and Analysis and this is where you. Jason: [24:49] Because I read all 100 pages and and I'm super depressed and one of the risk factors is the way I could become sentient and take over the Earth. Scot: [25:00] Mmm yep that is a risk factor and then it will bring our groceries to us I guess as we are batteries for its consumption. Jason: [25:08] The computers won't eat. Scot: [25:10] So if you really want you know so what you can do is you can get the gist of 95% of this by printing out the s-1 pages 1012 124 that's it's only 23 pages and it's really dense but it is actually this is actually a very good read they did a very good job of making this so you know. It's very approachable and they go into a level of detail that's really handy into problem so we're going to give you some of the highlights from that but if you want to go deep on your own we will give you all you need to go to the next level just by looking at those 23 pages. Okay so what did you see and them DNA and that got your attention. Jason: [25:55] Well I mean a number of things so maybe just super high level what's exciting to me like obviously a lot of this information about the business was not, publicly available so in the process of going public in issuing S1 they suddenly reveal a lot of things and they reveal things about. Their own business but they also have to paint a pretty good picture of what they think is happening and could happen in the digital grocery business so it's kind of like getting a whole class of really smart people to sort of, write a thesis about the the digital grocery business that we get to read and interpret and you know we they reveal things that we didn't know like how valuable customers are over time and how much consumers spend on a given order at instacart and what percent share of wallet they think digital gets versus brick and mortar and all these sorts of things and we'll get into a bunch of them in the in the individual sessions but my my takeaway from the beginning of that management discussion was that it's a. [27:08] A pretty robust business that the aggregate amount of. GTV that they that they have is pretty significant its twenty eight point eight billion dollars in groceries that they sold in 2022. Scot: [27:27] Yeah and GTV is gross transaction volume so instacart it's basically a Marketplace like eBay or Amazon where parts of parts of Amazon all of you back where you have in the marketplace of product Marketplace use GMB a lot of payment systems like PayPal use tpv gross merchandising value total payment volume they have chosen to use this term for the gross figure of GTV and at first I thought it was going to be groceries to do but it's gross transaction value I thought for sure it was like grocery, I was trying to decode it without looking it up and I was like that can't be grocery because then I don't know what a TV is doing there and you know so then their revenue is a derivative of that meaning of some percentage then of that big number Falls to them as Revenue after they pay the grocer The Shopper and then instacart the business has the leftovers and which ends up, we'll go through the unique and I'll mix it ends up being being pretty small because the grocery business does not have huge merchants. Jason: [28:26] Yeah so kind of looking at those business fundamentals that you know in 2022 they sold 28.8, billion dollars worth of stuff which for them generated 2.5 billion dollars in revenue and they were profitable on that Revenue they they net 428. Million dollars which like back in the a couple years ago when there were more IPOs happening there were there were IPOs in the space they were happening with companies that still weren't profitable so so that was interesting that they they were meaningfully profitable and then the, you know you're super interested in what the growth trajectory is and. [29:13] 20:19 was a very small year so going from 2019 to 2020 you know and then the pandemic app in the middle 2020 and urban was ordering groceries from, from instacart so the growth in 2020 was astronomical like 300% or something like that. But then the growth in 2021 over 2020 was 24%. On revenue and the growth in 2022 over 2021 was 39% in Revenue so. The revenue growth is Meaningful and accelerating. Which would be exciting they were not profitable in 2020 or 2021 so 2022 is the First full year that they were profitable. The GTD is a little different though they had significant growth three hundred percent in 2020 20 percent in 20 21 and 16 percent in 2022 so, well they have a track record of growth it's the top on GTV growth is decelerating. And then of course we're halfway through 2023 so they have to disclose. [30:23] How the well they've done in the first six months of this year and they compared to that to last year and the revenue and GTV are both essentially flat in the first six months of this year. Versus last year so I don't know you'll have to tell me but I look at that and you go man there's some robust stuff here there's a great growth story. I should have mentioned that that's on an annual basis on a quarterly basis they have five consecutive quarters of profitability which also seems. Impressive him pretty favorable but it's probably a slight worry that the. A lot of that growth seems like it's it's leveling off in 2023 I don't know if. That the most recent performance gets gets over weighted or underweighted and sort of evaluating the the prospects for the company. Scot: [31:19] Yeah the buyers will you know what every everyone has a different way they value things and they they're going to build their own models and the company will give them some guidance that's some of the stuff we did it we're not going to go over and but you have to be careful because you don't want to make forward-looking statements so this is this weird dance you do of you. You try to get people excited by not saying anything about the future which is which is a little tricky so you know what I imagine instacart s' just reading the tea leaves again they talked a lot about how they don't really do much sales and marketing which I kind of read to say, look we really hunkered down on our unique economic sand we've got it dialed in right now and spoiler will get to adds a lot of a lot of that has come from this ad piece. And I think now. [32:07] Because investor and I was the bullish scenario is you know they're going to raise at least 400 million they'll probably raise a lot of money from this they could start doing some advertising and you pick up some new customers that again I'm going to kind of hope they look at the cohorts those cohorts look like with what this in the here and they have at least the same unique anomic so if not better and I'm going to look at this growth accelerating wow what Wall Street loves their favorite favorite favorite kind of the top quadrant is accelerating Revenue growth an accelerating profitability and you know I could see a scenario the light has to go their way but I could see a scenario where that works here you know if they could if they could start spending some really careful sales and marketing dollars building the brand where they've been kind of under the radar for the most part and then. That works those cohorts stick and then they can work on the economics because that's gonna bring more advertisers per order because the more average more orders and more. GTV is going to bring more cpgs in that want to advertise against that then you could argue accelerating Revenue growth accelerating profitable unit economics. So I think that's the bull case the bear case is they've hit saturation they've got all the stores. 4% is anemic and nowhere to go but down. So that's the end of it is it is going to be interesting to see there's a little bit of A Tale of Two Cities in those possible outcomes. Jason: [33:36] Yeah what else jumped out at you in the management discussion. Scot: [33:43] They made a big point of talking about they have 7.7 million monthly active users which is a good number but they point out that in the u.s. there's 330 million consumers or I guess population so they use that and this is kind of one of those hints I was talking about the basically said hey we're. We've done good to get here but these are like the early adopters we still have a long way to go there's a lot of people you know I don't think they'll get all of them and I'll talk about that in a second but there's a lot more people that you should be using our service that aren't is so they kind of paint that 7.7 million and say that's teeny tiny compared to where we should be. And then you know the other thing they talked about that I thought was interesting I wanted to get your opinion on is they talk about, per user per month they get three hundred and Seventeen dollars and I was wondering I know you probably know this off the top of your head. What is if you look at the average US consumer and you probably look at the. Population of the convenience store that's like a kind of probably like that 100K and up household you know what is their monthly and is this like half of it a quarter what is your spidey sense tells you on that. Jason: [35:00] Yeah so real rough numbers the average American family and you know people shop for groceries in households versus people so it's almost better to talk in household so there's like 131 million households in the US and sin they've got. Seven million of them as customers the average household shops for groceries 1.6 times a week and they spend a hundred dollars per visit so you kind of you know rough that up and you get. Get what is that I'll have the intern do in turn do the math one point six times. 100 times, 4.5 is 720 total grocery spin which I don't have the census numbers in front of me but but that passes the smell test that so. Households are spending six seven hundred bucks a month and instacart saying that they're getting less than half of that. Scot: [36:12] Yeah and I saw some people speculate on this that, what their inferring is Davin they have an average order of 110 so this is like 2.6 instacart some month instacart orders per user per month that's another kind of interesting metric and then people are speculating in the saying the pattern is probably people are doing a big shop once a month and they're kind of going and getting you know, a lot of like maybe canned goods and things like that and then they supplement it with two or three instacart has to bring maybe a refresh of the the replenishable is like the cheese the milk the veggies and the fruits kind of thing. Again this is everyone just kind of like taking data and kind of going out for data point so the cone of uncertainty is pretty big out there but it kind of passed my sniff test that's how we've used it before, at our house with exception of wizard a lot at work to fill our snack area at work and we're probably like we're probably like top one quartile of this whole thing that's the number of snacks we get from Instagram. There's a deep does that that analysis of the one big shop yourself and then supplement does that. Jason: [37:26] No exact yeah I mean I think the Grocer's talk and I hesitate to bring this up because I don't think I remember I'll for off the top my head but there's like four typical types of shopping missions right so there is that like Pantry stocking shop there's like a weekly shop there's a. Occasion Bay shop where your your it's date night or it's Christmas or whatever and you make a special shop and then there's those, top off shops and I think it's generally agreed like there's not a big cohort of consumers that have just said I'm never using a grocery store again then I'm exclusive we gonna, I have all of my my calories show up at my doorstep so digital grocery ends up being one of the tools in the family's tool kit for, procuring their their calories and so it makes. Total sense that they would have a share that one of the ways they could grow is to increase that share presumably by. Being the best choice for more of those different kinds of missions. Scot: [38:34] Yeah and then the md&a they talk a lot about how they have these new offerings where you can get a weekly Monday thing and they're definitely poking around at this experimenting on how to grow the sand again they're kind of signaling we think we've got some room to go on this we can get that. [38:51] Bridge order up and we can get the ma use way up the second thing I noticed was you know they use this they use this phrase, several times you can tell it's kind of like must be tied to company values and they talk about we believe people want selection quality value and convenience if that sounds familiar to you the this is infamously brought up in the Amazon Jeff Bezos first shareholder letter in 1997 where he talks about the mark you know what Amazon believes and they believe that a multi-decade trend is people will not get tired of selection quality value and when value he uses kind of free shipping like versus product value is pretty specific on it and then convenience and then what got me thinking about this is. [39:38] Value inconvenience her you know they're often in conflict and this is the whole point of we've had, Casey on the show from the Lloyd there bifurcation kind of model which shows this was this I think a lot about this because this is the whole one of the whole reasons I started spiffy and we decided early on if we're going to be convenient we can't be the cheapest and I don't think people look at instacart as the cheapest you know whenever we use it it's kind of like, holy cow this is this is a pretty expensive treat in you know I really kind of need to be able to justify this to myself that I can't just pop over the grocery store and do this myself it needs to be yeah some some reason I'm going to miss a kid event or something that I'm getting a really good bang for the buck here so I thought that was interesting that at some point I wonder do they value part kind of struggle with you know how. Jason: [40:31] I think they have to have a. A more liberal definition of value because I think you're exactly right right and obviously you know value means different things to different people like they disclosed later in the S1 that they not surprisingly that they skew disproportionately to households that make over 100,000 a year compared to a traditional retail and particularly a traditional grocer like give I've no idea what it looked like when they actually did it but when Kroger went public or certainly when Walmart went public they would have talked about the top of their tree that we think the consumer really values price and and Walmart probably said price not value and you know they built a business around very aggressively maintaining those low prices because they thought that was the beginning of their flywheel and and you know Amazon talked about value but they when they said value a lot of what they meant was and we're going to you know have the very competitive or the lowest price on a lot of these goods and, the the business model of instacart makes it unlikely that that can be their positioning so they have to kind of, find a a valid but alternative definition of value to hang their hat on. Scot: [41:50] Yeah and I thought was interesting they put convenience a lot you know last you may say oh you're reading too much into it but you know I've been in rooms you spend so much time on every word there's a purpose to this order of selection quality value and convenience and and they mentioned this exact phrase like several times so this is a this seems to be an yeah a pretty important phrase in their their world to I just thought that was I want to get your take on you know at some point they may cross this road where they have to pick a lane and it'll be if it ain't going to be the value late you know I don't see a path there but you know maybe they think they can and you know they also talked about selling to the grocer some software so maybe that's kind of like how they're squeaking that in I don't know. Jason: [42:36] Yeah yeah and there's I think we'll talk about this and in our final conclusion but the there's multiple ways you could see this going over time and depending on which path it took like value could mean something different. So what will come back to that. I heard you like dissected all of the the disclose data and put together unit economic model for for instacart. Scot: [43:07] Yeah so it starts at the top so the GTV per order so every order that comes in they get the GTV as $110 and then there here's how they slice the onion so the biggest chunk goes to the grocer for the groceries and they get 83 percent which is $91 so right off the top we're left with $19 but now the grocer they have to go make all their money so instacart is that's what you would basically get I think if you and I went to the grocery store you know maybe they're getting a little bit of a discount but they're they're taking that $91 and they're adding $19 on top of it and this is all X tip there's a there's there is a delivery fee and what not so then the Shopper gets 8.2% or nine dollars in order and that's in that delivery fee and then they get the tips. Jason: [43:58] Clarification on shopper because like in most contact Shopper would mean the consumer that's buying the goods The Shopper in this case is is a instacart gig worker that goes to the store and gets Aggregates the order for the customer. Scot: [44:14] Exactly the gig worker is the Shopper so they get nine dollars and they get 100% of the tip so whenever you you know whenever you what what they don't say some of these gay places in this bothers me because we fell out on this they say the gig worker gets 100% but then they take a transaction fee of 3%, now I can't find they say 100% I can't see any little asterisks that says there's going to skim 3% or something so. [44:44] So to the hopefully they're being super up front and they the gig worker does get 100% of the tips but the tips aren't in the economic the kind of sit over on the side to go to kind of bypass instacart all together and they go straight to the shopper. Who also gets nine dollars from instacart so if you gave a 20 dollar tip the the Shoppers going to get 20 plus 9 or 22, then at this point we are finally at instacart Revenue which is ten dollars and that's into pieces seven dollars is the transaction revenue and three is ads. So almost half their margin you know so 30% I guess yeah. I say half because the line is going so fast it will become half probably by 2024 you know half the. Profit the margin the revenue that they get and probably disproportionate part of margin is from the ad piece which we're going to talk about in detail so that is. That's pretty important to this whole enchilada and until they figure that out this didn't really work I do. [45:48] So they get so 110 dollar order $91 goes the grocer that leaves us with 19 Shopper gets nine we're left with 10 7 of that, is the transaction Revenue three is ADS then their costs come out they have three dollars of cost per order. And this is this is things like you know their entire some allocation of all their website hosting the engineering team developed the app. I don't know if they would put sales and marketing in there and they weren't very specific about what they do and don't put in cogs so that was a question mark. And they're left with seven dollars of gross profit for that order. My bet is marketing is not in there and they kind of take that up later but again the didn't really. Disclose that I saw what all was and not in Cox so basically that 110 boils down to seven dollars a profit from them and if we looked at it you know. I bet that three of that seven is basically from the ads and you know because there's almost no cost to serve an ad and so so I thought that was pretty interesting that like you know around half of the Prophet basically is from the ad system. Jason: [47:00] Yeah I think I think it's for sure interesting and like you know two possibilities there there there, average value of an order is 110 bucks traditional brick-and-mortar grocer is a hundred bucks and so one question like did instacart wasn't totally clear I mean they tried to take credit for having a higher order value but it wasn't clear like do we think. There's something unique about our experience that causes people to spend more or. Is our service just more expensive and so therefore you know if I got the same 60 items from from Walmart it would cost me $100 but if I got it from instacart Cassandra and ten dollars. But if it's the latter and I'm sure the real answer somewhere in between but but if it's the latter then you go you know all of the, The Profit that instacart is potentially taking is kind of from the. The convenient spread where they're you know getting consumers to pay more for the extra convenience of this grocery delivery. Scot: [48:08] So that was the unique nanak's what did you discover from the cohorts. Jason: [48:12] Yeah well I think we both we both noticed that they had a pretty detailed cohort analysis in the s-1 and by cohort analysis what we mean is they. They break down all the revenue they get from every. Group of customers on the first year they acquire those customers and then they track the spending for that group of customers in each, subsequent year and so you have a cohort that you acquired in 2017 you have a cohort you acquired in 2018, so on and so forth through this 20:22 cohort and there's. Other dimensions you could do Court analysis on but this this tenure cohort is most common and loyal listeners of the show will know we've certainly talked about it before no most notably with a guest Professor Dan McCarthy. From Emory University who spends a lot of time. [49:13] Talking about and thinking about cohort analysis so I my first thought when I saw this cohort analysis is I'll bet you Dan McCarthy's really happy right now and is probably. Deep deep into these numbers and he has a phrase that he calls a super annuities which is for the circumstances. The older cohorts get more valuable over time and keep contributing more Revenue to your business which is, you know that if you think about it that's that's the ideal state right you want those kind of six-year-old cohorts to be. [49:51] Growing and be your most valuable and if they're you know significantly tailing off over time then like you know you start to question the core value proposition of the business like maybe customers get fatigued with your business or decide it's not a good value in the long run or something else so um the the big takeaway for me of the cohort analysis is the cohorts grow over time the if you look at like the year one value of this cohort it averages $226 and then it goes up 33 percent in year two to three hundred dollars and then up 16%, to 350 dollars in year three and then another up another 16% to 4:00 in your for and then up 10% $445 in year 5 and up another 8% to 480 dollars in year 6 and so like fundamentally. That is a very good picture of. The value of the cohorts and I'm certain why they chose to include the cohort analysis in there as one because I don't believe there's any. Any filing requirement to do that and certainly lots of companies don't include any cohort cohort analysis but then my kind of secondary take is. [51:12] You know not every year is the same and so some of those cohorts like started before Cove it and then they're their behavior, was slightly impacted by their maturity but also impacted by covet and some of these cohorts started after Cove ID and so one of the things you would look for in that cohort analysis is did these guys just get a big spike from Cova da, when people are afraid to go to grocery stores and you know has that worn off right and that's kind of a comment common narrative out there like I argue. [51:45] It's mostly misunderstood when people give that narrative about digital but it's. It's even more likely that is misunderstood if you have that narrative and grocery because grocery appears like on the surface to be the one category where hey we're at three percent e-commerce penetration before covet and now we're 12% e-commerce penetration and so this, these cohort analysis if if there was a spike that dip back down you would expect to see some of the later cohorts underperforming versus the the precoded cohorts and we don't see that right that like all the cohorts grow and they grow over time the rate of growth slows down over time which is like I think pretty pretty typical and not surprising um so all that was super favorable the one thing and one will have to have Dan on the show but the one thing that I think wasn't in here that you'd really want to understand how valuable the customer bases and and again guys like Dan kind of pioneered this idea of how you value a company based on their customer base. [52:53] And kind of set the price based on on this type of data but I think they would also want to see some churn data and understand. How many people are each in each of these cohorts and whether there's the same people or lots of defectors and new people coming and all those sorts of things and none of that was was disclosed and assess. Scot: [53:22] Yeah you're right the I think they're making the argument that the swamps turn but because they don't disclose it you kind of. You have to trust him and he would he would want that data because you know the whole Begin Again the the bull case here is all right if you got super annuities than spending ad dollars to bring super annuities in this smart right because everyone you bring in the door is going to follow this cohort and start of it you know you and I looking at a table that the says you're one they start at 2:26 and then by year 60 at 500 bucks so they they double over their life cycle in their GTV so over six years so if you know if you can go buy them for a hundred bucks a pop then you would just go and, and spend all that money in it should be we have a super annuity on one side you can spend a lot of money acquiring customers on the other. Jason: [54:15] For sure true what. Scot: [54:17] You turn there's something that they could hide in there. Jason: [54:19] Yeah so you have to worry about that you also side note like a thing that drives CFOs crazy about marketers is you also have to have this argument about correlation and causation right that like if I went out and bought a bunch of customers would they maintain this the same level of performance or with those those. Purchase customers through higher advertising and through greater sales and marketing a activities be less oil less valuable customers by. The answer varies depending on the business. Scot: [54:53] Yeah that's where I this kind of come back to that bifurcation thinks I think would you say 120 million households. Jason: [54:59] Yeah 131. Scot: [55:00] Yeah so there's probably I think it's probably a pretty evenly split between convenience and value so call it 60 and they've got 7.7 so there's actually good I think they've got a 10% share of, what does the actual dress for Market because I don't think they're going to get any of the value or in a consumers because yeah the valuing consumer does not pay for convenience they'll just go to grocery store. Jason: [55:23] Yeah and again in the bottom quartile a lot of people are shopping for for groceries with government assistance and I don't actually think instacart should double-check this but I don't believe instacart has a way to accept Snap payments. Scot: [55:36] Yeah I don't think the government is going to subsidize the food delivered. Jason: [55:39] Well they just you know they do in other great white white guy like you can order groceries online from Walmart and pay with SNAP but I don't think you can with instacart. Scot: [55:49] Yes that's another factor and then at some point yeah I'm sure you'll bring this up but the. The if you're if you're a grocer you know a lot of ours opt out of the sand to themselves and they like we have a Harris Teeter that they don't accept instacart yeah they're not on there and they want to do their own they want to own the customer themselves. Jason: [56:12] Yeah I save that discussion for other but I think that's a super important one. Scot: [56:16] Forget I said that that's a teaser that's it's a teaser was what we call a tease. Jason: [56:19] Excellent teaser yeah because I feel like we've gone to the add segment of the breakdown of is there anything else you wanted to cover before that Scott. Scot: [56:28] No I'm on the edge of my seat to hear what you thought about that specific. Jason: [56:31] Yeah so it turns out instacart sanad Essence and probably shouldn't surprise anyone you know Scott you alluded to the change in CEO the the current CEO for this IPO is fidge Asuma Seema who formerly was VP of advertising at Facebook so they brought in a Facebook. Exact to run this business and shoot I should have looked up what episode he was on but Seth Dallaire was a past guest on this show when he was the chief Revenue officer. For instacart which was right around the time that that fidget joined. [57:19] Instacart so we actually had a discussion about their aspirations to become an advertising business and spoiler alert, it worked at instacart which we're going to break into and that guess set the layer subsequently was hired as the chief Revenue officer at Walmart where he's. Building Walmart connect which is also working so turns out ads are becoming an increasingly important part of the ecosystem for retailers but the basic ad math at instacart is that in 2022 the last full year of data instacart generated 470 million dollars in ads so 470 million on 28 billion in GTV, means that that's about 2.6 percent of the spin. That went to ads it's thirty percent of their revenue today and. [58:20] It's growing at 29 percent so it went up 29% from 2022 to from 21 to 20 22. Um it's grown another twenty four percent in the first months of six months of 2023 so, a lot of the unit economics of their transactions have kind of stabilized and are flat the one thing that's still growing at a very fast double-digit pace, is the ad business and at seven and twenty million dollars it's already reasonably robust and they don't. Ads are not a line item on the income statement that they included like you know and presumably like it's not. You could argue it's not Material against the three billion in in Revenue. But the so we don't we don't really know exactly how profitable, Those ads are but in general we would call these ads or retail media Network and the you know people argue about how profitable these retail media networks are people particularly argue about Amazon's but kind of the middle of the range when people estimate how what how profitable these things are is that they're about 75 percent gross right so in theory they should be near 99% gross margin because like you don't have to make anything to sell an ad. [59:46] You know you do need some technology you need an ad server you need Administration and salespeople you need brand safety people you know there is. Some infrastructure some of which has to scale with the ad business and so the the kind of. Most common estimate that that I see out there is like 75% of that revenue from ad business is profit. So that implies that the ad business contributed seven 555 million to the. To the income statement for 2022. Um and they were only profitable 428 million in 2022 so that the ad business contribute like by that sort of slice the ad business contributed. [1:00:33] You know covered all of their losses and and was essentially all of their their profit. In in 2022 and it's growing faster than anything else so it's very clear that the ad business is a key. Tenant of this instacart model and they in the management can section they it was kind of funny working for a big, advertising agency because they had to spend a fair amount of time like justifying that ads are valuable good thing and that people are spending money on ads so they kind of you know paint paint this picture that consumer packaged Goods companies which are you know most of the goods that instacart cells that. [1:01:20] Cpgs in the u.s. spend about 200 billion dollars a year on advertising and currently about a quarter of that is digital. And so the. The you know a typical cpg spends like about thirty percent of their gross sales on advertising and you know at the moment instacart is collecting about less than three percent of its sales in advertising so I think they're saying like hey. Advertising is super effective it's an important part of our economic model and there's a ton of. Of potential growth for us in this market and that cpgs need us and they amongst their claims about the size of their business, there are 50 500 brands that are advertising on instacart today and those are. At the moment all brands that sell. [1:02:18] Whose Goods get sold on instacart so we call that endemic advertisers right so it's it's Mondelez selling cookies and folks like that a lot of advertising companies. Sell ads to people that aren't necessarily selling through the. The the platform we call those non-endemic advertisers and we I don't think there are any non-endemic advertisers on instacart as of yet. But so at the Top Line like these are these are solid fundamentals for an ad business you like. [1:02:54] From my perspective retail media networks are super important evolution in the space they are very important I actually think for a lot of smaller retailers they get overhyped and that there's a problem with scale with a lot of these but instacart appears to be one of the companies. That has enough scale to build a real. A real business around this there is a unique problem that instacart has with ads that you know I think they've only been partially able to remediate so far who's paying for the ads. [1:03:25] Right so they talked about the brands paying for the ad right it's Procter & Gamble about the ad but there's a lot of stakeholders with budgets at Procter & Gamble, there's Mark Pritchard that buys Super Bowl ads and tries to build the brand and make people love tied but there are also account teams, that are trying to Goose the sales at their account so there's a Walmart account team and a Kroger account team and an Albertsons account team and all of those guys have an ad budget, that they want to use to sell more stuff at Walmart Kroger and Albertsons respectively. And so the big problem you have with instacart is you spend that ad dollar with instacart and you don't actually know. Which retailer it's going to impact. Right and so it's kind of like it has to come out of the top of funnel ad budget but it's bottom of the funnel Performance Marketing, type ads mostly search ads and so not saying that model can't work but it's. [1:04:33] The the guys with budgets that are used to buying ads are used to a slightly different structure so I will say that at the moment instacart causes a lot of consternation because it's a it's an unusual Beast that people don't exactly know how to budget for or how to spend their money on and you know I would assume if instacart wants to grow a lot they have to make that, easier for for the brands to do. Scot: [1:05:00] Yeah so what do you think. They're so this is a relatively good chunk of Revenue where do you think they're getting it from is it online going offline I mean offline going online are they taking it from Google are they taking it from couponing or. Two Brands even do like newspaper inserts are still a thing like I know that back in the day. Jason: [1:05:22] So I know I yeah I think. Brands are pretty pretty rapidly shifting their their dollars to digital vehicles and so two things like there's you know traditional kind of, newspaper magazine advertising that's atrophying and and the brands are replacing that with digital there's a slight misnomer the whole privacy thing and Facebook is a real thing but you know who wasn't buying a huge amounts of Facebook ads are like National cpgs with huge brand recall so so you know those tended to be smaller Brands and longer tail things so it's less like oh. [1:06:05] The these guys are shifting from Facebook it's more they're shifting from old-school marketing and over are television to to these digital vehicles but a big chunk of it is still coming out of these trade budgets right and so there may have been a pool of money that was allocated to spend at Kroger and it used to get spend on newspaper circulars that were like Kroger ads that fell out of the newspaper and that's an increasingly ineffective vehicle or maybe they even got spent on floor decals in the aisle at Kroger right you know like Shopper marketing tactics or trade tactics and so increasingly the retail media networks are getting a chunk of those trade dollars and I do think instacart is getting some of those even though it's trickier to do because you know it's not allocated exactly 21 specific retailer at the moment. Scot: [1:07:07] Yeah the so what did the ad formats I've seen is I always get this one that's like you through some Quaker Oats granola bars in there if you add these six things will give you a five bucks or something I've seen a coupon and I've seen a you know an upsell hey you've previously bought this or you may like this are there those are the three main add units or am I missing something. Jason: [1:07:33] Yeah so I am not going to speak specifically about the variation in ad units but as a general rule like probably I'm assuming the most predominant ads on the platform are search ads right so people search for products like always and you know above all the organic results are a bunch of sponsored ads right and so off very often those don't have a special offer in them they're just premium. [1:08:00] And so a big chunk is probably those those search ads you know then they're there are like Banner type ads that that land either on like the homepage of a particular retailer or on a category page or subcategory page and more often those are likely to have some call-to-action offer in them so they might have a promotion or a discount of some kind and then in the digital space um there's a lot of what we call like top off and impulse ads which are what you were just talking about right and you know one of the big problems we have with digital grocery is when you go shopping at the grocery store your wife sends you to the store with a list of 10 items and you buy all those 10 items but then you walk by the ice cream aisle on your way to the cash wrap and you add ice cream even though you didn't plan to buy ice cream and then when you're standing in the cash wrap, you're sneering at that Snickers bar or that Wrigley gum and you add that to the car and maybe a cold Coke to drink on the way home from the grocery store so a big chunk of a traditional grocer sales are all these unplanned impulse purchases and that. [1:09:16] By default happens a lot less in digital Grocery and so a lot of these ad formats are kind of are, our Industries early efforts to try to reinvent digital impulse and I would I would call it pretty imperfect at the moment. Scot: [1:09:35] Don't you get a nursing inside about gum or something like because self-checkout smelled the gum that serendipity. Jason: [1:09:42] Yeah the the that that cash wrap used to be the most valuable real estate in a grocery store like the most Revenue per square foot was that what we call the cash wrap which is the. The conveyor belt that you stand in line and actually the first thing that killed the cash wrap was not any of this digital shopping or any of these things it was. Facebook and the mobile phone and simply because you now had something else to do when you are standing