On this episode of the Hustle and Flowchart podcast, host Joe Fier dives deep into the world of building iconic brands with community-led growth with special guest Lloyed Lobo. Lloyed, the co-founder of Boast.AI, shares his incredible journey from struggling startup to eight-figure success.
Lloyed discusses the challenge of relatability when showcasing successful companies like Tesla and Apple, and how he overcame skepticism from potential customers to build a thriving community around his own company. He reveals the strategies and tactics that propelled Boast.AI to reach $10 million in annual recurring revenue without relying on marketing or investors.
One key aspect Lloyed stresses is the importance of finding your tribe and building meaningful relationships with other founders. He shares how his meetup transitioned to an online format during the pandemic, resulting in a significant increase in subscribers and even catching the attention of investors.
The power of community takes center stage in this episode, as Lloyed highlights its role in creating purpose and fostering a sense of belonging. He also provides practical advice on organizing successful events, inviting the right speakers, and attracting sponsors.
Lloyed's new book, “From Grassroots to Greatness: 13 Rules to Build Iconic Brands with Community-led Growth,” serves as both a guide and a source of inspiration for entrepreneurs looking to skyrocket their businesses through the power of community.
Understanding the Challenges of Building a Community:
Lloyed highlights the difficult journey of finding a target audience and gaining their trust, emphasizing the significance of relatability when discussing successful companies like Tesla and Apple.
Leveraging the Power of Community:
Lloyed shares the remarkable story of how Boast AI reached $10 million in ARR without marketing or investors, completely relying on the power of community. He discusses the importance of passion, a sizable niche, propensity to pay, and ease of access.
Practical Tactics Lead to Success:
Rather than seeking high-level inspiration, Lloyed advocates for the practical guidance and support that can be provided by founders at a similar level of success. He highlights the need for actionable advice and specific tactics.
Community Growth During the Pandemic:
Lloyed explains how he transitioned his meetup to an online format during the pandemic, resulting in a significant increase in subscribers. This shift led to investors acquiring a majority stake in his company.
The Power of Purpose and Companionship:
Lloyed reflects on his experiences during a war in his childhood and how it taught him the importance of community and companionship in driving impact and purpose.
Nurturing a Community for Sustainable Success:
Lastly, Lloyed shares insights on the importance of consistency, understanding the customer's circle of influence, and creating a sense of community and purpose to attract and retain people.
Two Other Episodes You Should Check Out
-
Mastering the Art of Letting Go: Finding Clarity in Business with Joe Fier
-
How To Be Seen & Unleash Your Authentic Brand with Jen Gottlieb
Resources From Episode
- Accelerate growth with HubSpot's Sales Hub
- Check out other podcasts on the HubSpot Podcast Network
- Grab a copy of “From Grassroots To Greatness”
- Check out Boast.ai
- Contact Joe: joe@hustleandflowchart.com
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