The Koerner Office - Business Ideas and Deep Dives with Chris Koerner - 026: Exercise App Making $1,000/Month

Episode Date: September 29, 2023

Today, we've got a captivating tale to share, one that unravels the journey of success behind MoveWell, the fitness app founded by Joel Runyon. But this isn't just a story; it's a roadmap to success. In the next few minutes, we'll not only narrate the story but also identify the pivotal moments when everything fell into place. We'll dissect what went right for MoveWell and offer you practical tips that you can implement in your own business. So, grab your notebook, for this episode is a treasure trove of entrepreneurial wisdom waiting to be uncovered.Introduction:In this episode of Startup Gems, we delve into the remarkable journey of MoveWell, the fitness app that has taken the industry by storm. Discover how Joel Runyon turned his vision into a thriving business and learn the key principles that contributed to MoveWell's success. We'll share valuable insights and actionable tips for entrepreneurs looking to make their mark in the world of startups.Segment 1: Build an Audience FirstJoel Runyon's journey began with his blog, IMPOSSIBLE, where he attracted a dedicated audience.Building an audience before launching a product offers several advantages.Concrete Application: Identify your target audience, create valuable content, and engage with them to build a loyal following.Segment 2: Adapt Your Business Model for SustainabilityMoveWell initially offered individual paid routines but transitioned to a subscription-based system.Adapting the business model improved sustainability and profitability.Concrete Application: Regularly assess your business model, consider different pricing structures, and stay open to change.Segment 3: Focus on Continuous Content UpdatesMoveWell's commitment to providing fresh, relevant content contributed to its success.Regular content updates keep existing customers engaged and attract new ones.Concrete Application: Prioritize content updates and enhancements based on customer feedback and market trends.Conclusion:The MoveWell success story serves as a roadmap for aspiring entrepreneurs. By building an audience, adapting your business model, and focusing on continuous content updates, you can pave the way for your own business triumph. Stay tuned for more valuable insights on Startup Gems.

Welcome to Startup Gems where we find undiscovered startup growth hacks, stories, and case studies from every random nook and cranny of the internet. Whether you're a seasoned entrepreneur, an aspiring startup expert, or simply someone seeking inspiration, startup gems is your source for the stories that ignite the flames of innovation. Today, we've got a captivating tale to share, one that unravels the journey of success behind Move Well, the fitness app founded by Joel Runyon. But this isn't just a story, it's a roadmap to success. In the next few minutes, we'll not only narrate the story, but also identify the pivotal moments when everything fell into place.

We'll dissect what went right for Move Well and offer you practical tips that you can implement in your own business. So grab your notebook for this episode is a treasure trove of entrepreneurial wisdom waiting to be uncovered. Let's meet Joel Runyon, the founder of Move Well, and dive into his journey in the fitness app industry. Move Well, an exercise app based in Austin, Texas, was born in January 2017 as a solution for those seeking improved movement, strength,

and injury prevention. Initially, the app generated modest monthly revenue, ranging between $1,200 to $1,800. Despite its relatively small income compared to other ventures, Movewell cultivated a devoted following. After a recent buyout of his business partner, Joel Runyon set his sights on expansion. His plan included the addition of coaches, continuous content updates, and strategic partnerships within the next six to 12 months. The inception of Move Well can be traced back to Joel's blog, impossible.

This platform served as a testing ground for personal challenges and attracted like-minded individuals eager to tackle fitness and mindset obstacles. One of Joel's most significant challenges, the 777 project, involved running seven ultramarathons on seven continents to fund the construction of seven schools. During his first ultramarathon in Patagonia, disaster struck when strong winds toppled Joel, injuring his leg. The subsequent recovery process led him to realize the importance of guided rehabilitation. He questioned whether others faced the same problem and envisioned creating an affordable app that served as a mobility coach, helping users through personalized routines. Drawing from his previous experience in the nutrition space, Joel decided to venture into the world of movement.

The development process aimed for speed and simplicity with several prior app building experiences under their belt. Initially, MoveWell featured free and paid individual routines, but this model proved unsustainable. Switching to a subscription-based system improved the business's viability, especially given the 30% cut taken by Apple on each purchase. Existing customers retained access to purchased routines, while additional content enhanced the subscriptions value. Joel launched Movewell primarily to his existing audience and contacts in the fitness and running communities. The app's focus on goal-specific mobility filled a gap in the market. Surprisingly, customer retention rates were impressive, standing at 84%.

Customers loved the app and desired more content, leading to regular content updates. Joel's current focus includes launching a Move Well, online version, creating an affiliate referral program, and developing an Android app. He aims to increase paid subscribers, enhance SEO, expand content, and explore brand partnerships for additional revenue. Joel's entrepreneurial journey provided valuable insights. He emphasizes the importance of selecting a business partner in a similar life stage and shared motivations. Building an audience before developing a product is another key lesson he advocates. Move Well Custom built its app and runs its marketing site on WordPress.

Joel's recommended resources include Tropicalmba.com, comma, Noah Kagan's podcast, and Chris Giebauds Side Hustle School. The book, Profit First, significantly influenced his financial management practices. In conclusion, Joel Runyon's story of founding and growing Move Well highlights the power of audience building, adapting business models for sustainability, and the importance of having a compatible business partner. This fitness app, founded by Joel Runyon, has three years. arrived and continues to grow. Let's uncover the three key principles behind Move Well's success and explore how any business owner can apply them to their own ventures. Principle 1. Build an audience first. Joel Runyon's journey began with his blog Impossible,

where he conducted personal experiments and attracted a dedicated audience. This audience formed the foundation for Move Well's success. Building an audience before launching a product offers several advantages. To emulate this principle, start by identifying your target audience. Create valuable content, whether it's blog posts, videos, or social media content that resonates with your audience's interests and pain points. Engage with your audience through comments and discussions, gradually building a loyal following. When you eventually launch your product or service, you'll have a receptive audience ready to support you. Principle 2, adapt your business model for sustainability. Movewell initially offered individual paid routines, but Joel Runyon and his

team recognized the limitations of this model. They adjusted their approach, transitioning to a subscription-based system. This adaptation improved the app's sustainability and profitability. Regularly assess your business model. Pay attention to customer feedback and market trends. If your current model isn't sustainable or scalable, be open to change. Consider different pricing structures, subscription options, or value-added services that align with your customer's needs. Adapting to evolving circumstances can be the key to long-term success. Principle three, focus on continuous content updates.

One of Movewell's strengths lies in its commitment to providing fresh, relevant content. Joel Runyon's team realized that customer retention depended on adding value continuously. In your own business, prioritize content updates and improvements. Whether you offer products or services, make it a habit to listen to customer feedback and incorporate their suggestions. Regularly refresh your offerings with new features, enhancements, or additional resources. This not only keeps existing customers engaged, but also attracts new ones looking for up-to-date solutions. Incorporating these principles into your business strategy can pave the way for growth and success, just as they did for Move Well. Remember, building an audience, adapting your business model, and focusing on continuous content updates are actionable steps that can transform your business and propel it to new heights.

Thank you for being part of today's adventure through the world of startups and innovation. Did this episode ignite any fresh perspectives or ideas? Share your reflections and favorite takeaways in a review wherever you're listening now. Remember to stay curious. Continue to forge your own path. and subscribe and follow startup gems to be the first to access stories that will fan the flames of your entrepreneurial passion.