EP 184 - Frenchie Ferenczi
EEllen YinMar 3, 2023 at 12:19 am55min
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00:00Ellen Yin
You're listening to cubicle to CEO episode 184. The Pareto principle more commonly known as the 8020 rule states that 80% of our outcomes result from only 20% of our efforts. With this in mind, it's vitally important for entrepreneurs to know what to amplify in their business, and what to ruthlessly eliminate Business Growth strategist Frenchie florenzi conducted an experiment in pursuit of this truth implementing a decision filter she dubbed staying close to the money to measure everything she spent time on in relation to how likely it was to produce a sale. Doing this helped Frenchie 4X her revenue in one year, and her case study today reveals the five key decisions she made to stay close to the money that resulted in rapid revenue growth. Keep listening to discover how you can borrow Frenchie's approach to stay close to the money in your own business.
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00:56Ellen Yin
Welcome to cubicle to CEO the podcast. I'm your host, Ellen Yin. I quit my job without a backup plan and bootstrapped my first $300 freelance project into $2 million in revenue by age 28. On the show, you'll hear weekly case study interviews with leading entrepreneurs and CEOs who share one specific strategy that successfully grew their business revenue. Skip the expensive and time consuming learning curve of testing everything yourself by borrowing what actually works from the best and brightest mentors. You'll also get a front row seat to my founders journey through transparent income reports and behind the business solo episodes, subscribe now so we can grow together every Monday.
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01:43Ellen Yin
Hey, Frenchie, I'm so happy to have you here. As we were discussing in the green room. Frenchie is a real testament to how long term relationships matter in this business. She told me right before we hit record that two years ago, actually, she had pitched our podcast. And at the time, the content wasn't we didn't have a content opening that was the right fit. But we did keep her pitch in our database and circled back two years later. And here we are. So Frenchie, welcome to the show.
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02:13Frenchie Ferenczi
I love it. I love it. I'm so glad to be here. Thank you for having me.
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02:17Ellen Yin
Of course, we're thrilled to have you. And I love the way you laid out your case study and your pitch, it was so detailed, so step by step and easy to digest. So I can't wait for our listeners to hear how you were able to 4x your revenue in one year, by following this concept that you call staying close to the money, which will we'll have you define in just a moment. But first, we got to start with your cubicle, the CEO story. You have a really expensive 10 years plus background in working in startups and some of the startups you all listening may recognize like being or Newman house. So tell us what made you decide to leave the startup world as an employee and create your own startup instead, I had
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03:06Frenchie Ferenczi
always kind of had this idea that I was gonna start my own business. And I kind of saw what other people were doing. And I was really waiting for my million dollar idea. So I thought that I was going to be a founder in the VC backed Founder World. And with that, you need a really good idea, right? Or a really unique idea disruptive idea. Everybody wants their ideas to be disrupted. And I kind of just kept waiting for that idea to materialize. And then in 2020, I was still working at the way I had been there for a year and a half at that point. And 2020 was a just challenging year for the world. We all know that it was also a challenging year for the wing. And as the year went on, things got more challenging. I ended up getting laid off in the end of June of 2020. So there were two rounds of layoffs as part of second round of layoffs. So I had some time I had a long window before I actually left, right. So I got laid off. But then it was like my last day was in September. So I had some time to think about it right to think about what I really wanted to do. And I had a baby at home, I knew I wanted to have other children. I had been working from home. And so I couldn't imagine going back into an office, there were so many factors that kind of came together. But the missing piece was my million dollar idea, which still had not materialized. And after I as I was thinking about and as I was brainstorming, I was thinking about the way and what happens when you have so much invested capital, and all of that. And I realized that I really didn't want that I didn't want that kind of pressure. And that really helped me find my million dollar idea which was essentially a million dollar bet on myself right that my 10 years of experience in startups could help other business owners grow and scale their businesses and I could take all the mistakes that I learned from the businesses I worked for as well as the fact that I was working for co working spaces. So there were so many more entrepreneurs that I was serving and working With along the way, I kind of learned from all of them. And I came into this space really ready to help people grow their businesses make more money and keep it for themselves rather than giving it back to investors.
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