LRS 046: How Nathan Chan Grew Foundr to a 6-Figure Business

How Nathan Chan Grew Foundr to a 6-Figure Business - the let's reachs success podcast, lidiya k

Today on the Let’s Reach Success podcast I’ll talk about Nathan Chan’s successful business venture, Foundr Magazine. It’s the go-to resource for aspiring business owners and young startup founders.

It’s a monthly, subscription-based digital magazine on the topic of success and entrepreneurship, and the best one of its kind.

The person behind it is Nathan Chan. And what makes the story encouraging is that he started this in 2013 as a self-funded side hustle, and was still at his regular job, not knowing where this could take him.

In a year, however, he turned it into one of the most downloaded digital magazines on entrepreneurship on iTunes, and a 6-figure business.

The issues feature some of the smartest, richest and most thriving magnates, that share advice on life and startups. It all began with Richard Branson on the very first cover of the magazine, and since then it’s been names like Tony Robbins, Seth Godin, Chris Ducker, Deepak Chopra, Gary Vee, Tim Ferriss, Darren Rowse and many more.

Together with that one product, Nathan Chan created a fantastic brand. There’s the website, the blog with articles with powerful business advice, the weekly podcast where one big name in an industry shares his success story.

Now, he’s also crushing it on Instragram, and created a course on how to monetize that platform, and is also holding webinars every now and then.

So, all that should make us curious.

How did Nathan Chan do all this?

What made him come up with the idea, why he chose a magazine and not a blog or a podcast as everyone else is doing out there?

What were the struggles in the beginning to take the business off the ground, and what are the things that make Foundr different from all the other products out there?

What does it take to create a wildly successful digital magazine and make readers love you?

That’s what I’ll try to find out in this episode.


Show Notes:

  • Why Nathan Chan decided to start a magazine, and not a blog or a podcast like everyone else [2:29]
  • The early days of Foundr and why he called it this way [4:18]
  • What it takes to be a successful startup founder [6:14]
  • How Nathan and the team distribute the product [7:05]
  • What’s the message behind the brand [8:08]


Listening options:

• Subscribe to the show on iTunes to get automatic updates.
Listen on Stitcher Radio.
Subscribe on your Android device.
RSS feed

Thanks for listening.

Glad you joined me on the podcast today. If you want to hear a particular topic on it, leave a comment below and I’ll make sure I cover it in the future.
Also, if you enjoyed it, please share it using the social media buttons you see on the left.

And finally, please leave an honest review for The LRS Podcast on iTunes. You’ll help a lot with the rankings for the show and I’ll appreciate it.

What do you think about the way Nathan Chan made it?

Get The Lifestyle Designer's Digest

Sharing my adventures in lifestyle design, building an online business, and growing this blog. Join me for weekly updates.

Previous ArticleNext Article

Becoming an Online Merchant: 4 Tips to Find the Perfect Product to Sell

Becoming an Online Merchant: 4 Tips to Find the Perfect Product to Sell

E-commerce is a booming industry and will only continue to grow in the coming years. That’s why it’s not so surprising that there are plenty of people who want even just a small slice of the proverbial pie.

But whether or not you are looking to establish a full-blown online store or would simply want to supplement your income by buying and selling items on the side, you have to pick a product to sell that would, well, sell.

With the right marketing strategy, one can argue that anything and everything can be sold online. However, the real challenge is finding a product that is conducive to success. How do you find that product? Here are a few pointers.

Finding The Ideal Product to Sell

1. Target Hobbyists and Collectors

You’ll be surprised by just how much money hobbyists and collectors are willing to spend to fuel their passions.

If you have a knack for finding rare items, you’ll be a big hit with collectors. Whether they’re interested in action figures and toys, lapel pins, first edition books, stickers, sports cards, or even antique dinnerware. Just make sure that everything is legitimate.

Meanwhile, there is no shortage of hobbies on which people willingly invest their time and money.

Some of the more popular ones include biking, fishing, knitting and crocheting, calligraphy, model building (including radio-controlled vehicles), and handicrafts. Look for a leisure pursuit where you can act as the product-based solution and you’ll easily enamor yourself to these customers.

2. Something Hard to Find or Can’t be Bought Locally

There are some things that can be easily found in a local grocery store or a specialty shop — say gardening or baking supplies. But what about specialty foods, magician’s accessories, eco-friendly products, and fandom items?

Most likely, people will go online to find these. You can enlist the help of Google Trends and Google Keyword Tool to get a glimpse of what kinds of products people are searching for online and use the results as a guide to pick a niche product to sell.

You can also try to sell products that can’t be bought or difficult to procure locally, like Japanese Kitkats, the “three-story” alfajor Oreos, or Asian beauty products. The latter, in particular, is a good place to start since a lot of products are only available in select countries or regions but are available through wholesale Asian cosmetics websites. Do the hard work of sourcing these products (and offer them at reasonable prices) and see just how much your customers will love you.

3. Star with The Accessories Before The Big-Ticket Items

When people buy big-ticket items such as 4K TVs, high-end smartphones, and gaming laptops, they buy them only once. Their next purchase of these kinds of products will probably be in the next two to three years.

These are big investments, after all, and people are much more reluctant to spend huge amounts so often. However, accessories are much more common purchases and people are relatively more agreeable to spending more often on these items. Especially when they’re meant to increase the performance or ensure the longer life of the bigger product.

Think about HDMI cables and switchers for TVs, charging cables and power banks as well as cases and protectors for smartphones, and gaming accessories like a mouse, a keyboard, and a good pair of headphones.

If you already sell the big-ticket items, then it’s a wise decision to add the accessories to your online catalog. If you’ve yet to choose what to sell on your online shop and/or you have a limited capital, you should consider selling these kinds of accessories first.

4. Consumables Mean Customers That Keep Coming Back

Consumables mean that you will have a steady customer base and a rather reliable revenue stream. What’s more, when people need to order products from you regularly, it’s much easier to build a loyal customer base.

Think about specialty cooking ingredients (Himalayan pink salt, anyone?), supplies for arts and crafts, and even cosmetics. Just make sure you’re able to deliver each and every time, since you don’t know when your customers will run out of their stock or order in bulk in advance.

Of course, choosing which product to sell is just one part of a thriving online business, since you should also take into consideration the demand, potential competition, and reliable suppliers, among others. However, it’s also undeniable that finding a saleable item is a huge contributor to your business success. Good luck on your journey as an online entrepreneur!

If you're into ecommerce, you might be wondering what product to sell on your online store. Here are 4 great ideas that are sure to make you money and bring you loyal customers: #ecommerce #onlinestore #makemoneyonline #sidehustle