Steve Cody is the founder and CEO of Bunking which is a marketplace for shared living and travel.
He also has another business called Marketplace Studio, which is a software development boutique firm focused on marketplace creation. He started in business as a teen with just $1,200. Then went on to create 17 more companies in just 30 years. Businesses that have generated over $750 million in sales.
KEY TAKEAWAYS
- Bunking launched in beta mode about 3 months ago and is pre-revenue.
- They are running 4 go to market tests to uncover the niche that has the lowest customer acquisition cost, with the highest network effect.
- Bunking connects like-minded people to get together to use shared living and travel to have adventures they could not otherwise afford.
- Bunking is focused on the travel retreats sector, followed by remote work and roommate living.
- Collaborative living is becoming a huge thing, especially themed homes. E.g., YouTubers or tech workers living together learning and bouncing off each other.
- The impact of network effects is huge. Bunking enables individuals e.g., retreat owners to tap into this far more.
- Be prepared to think out of the box and pivot. Bunking did not turn out to work much like the way the team first thought it would.
- When you have a business idea, ask what do you want to get out of it? E.g., more free time or something else. Answering that question impacts how you make it a reality.
- Leverage your data from the start. Think about what you need to know about your customers to improve how you serve them.
BEST MOMENTS
“We´re building supply and getting user feedback.”
“Post CoVid there’s a lot more people with their own schedules and more mobility”
“You have to start with the premise that you’re going to find a way to make it happen”
“Bunking is almost like a dating platform, because we’re connecting like-minded people to do joint bookings.”
Do You Want The Closing Secrets That Helped Close Over $125 Million in New Business for Free?” Grab them HERE: https://www.whalesellingsystem.com/closingsecrets
Ryan Staley
Founder and CEO
Whale Boss
312-848-7443
EPISODE RESOURCES
Bunking Website – https://bunking.com/
Steve Cody´s Website – https://www.stevencody.com/
Steve Cody LinkedIn – https://ca.linkedin.com/in/stevemcody
ABOUT THE SHOW
How do you grow like a VC-backed company without taking on investors? Do you want to create a lifestyle business, a performance business, or an empire? How do you scale to an exit without losing your freedom?
Join the host Ryan Staley every Monday and Wednesday for conversations with the brightest and best Founders, CEO and Entrepreneurs to crack the code on repeatable revenue growth, leadership, lifestyle freedom and mindset.
This show has featured Startup and Billion Dollar Founders, Best Selling Authors, and the World’s Top Sales and Marketing Experts like Terry Jones (Founder of Travelocity and Chairman of Kayak), Andrew Gazdecki (Founder of Micro Acquire), Harpal Sambhi (Founder of Magical with a previous exit to Linkedin) and many more.
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