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Overview:
In this insightful interview, Nick, Co-founder of Snow Forecast (and TerraDat Geophysics):
Summarises the purpose of his website with an insight of its scale of users and the site’s business model.
Explains the website’s different revenue streams, and his preference for subscriptions and direct deals over advertising an income revenue.
Details the turnover of the business and the vast increase in subscribers following the Covid-19 pandemic, recognising the impact of Snow Forecast’s sister websites on the increase in users.
Recounts how his education and personal life led him and his partners to create forecasts for specialist activities, and the decisions that led them to launch a public website.
Enthuses about the community served by the website, and that community's impact on decisions they make in operating the website.
Pinpoints the moment when he realised the business was sustainable and successful, as the website started to create revenue.
Highlights the new challenges involved operating the five sister websites and shares his hopes for the growth of the websites, and some new innovations for future proofing.
Stresses the importance of a strong company culture and how their own company culture allows them to turn issues into advantages.
Reveals lessons he’s learned from the business, including not pursuing side streams that aren’t lucrative, and the importance of consulting other sources for innovation and technical input.
Timeline:
0:00 | Alan introduces the show by talking briefly about his history in business. He continues by describing the format and purpose of the show.
1:13 | Alan invites listeners to get in touch with questions and comments, and gives contact details.
1:33 | Alan welcomes Nick Russill back to the show, and invites him to introduce the company that he will be discussing in the interview.
2:18 | Nick explains the purpose of his website, snow-forecast.com, and gives an approximation of the number and type of users.
3:36 | Nick gives insights into the site's business model, and talks about website monetisation.
4:58 | Nick discusses the different functions of the website, and the variety of its users.
6:56 | Nick summarises the size of the company. He goes on to explain details of its different revenue streams. This includes programmatic advertising, subscriptions, and direct deals. He explains why he prefers subscription and direct deal to advertisement as an income revenue.
14:43 | Nick outlines the turnover of the business, revealing that following the Covid-19 pandemic, subscription has vastly increased. He recognises the impact of snow-forecast's & sister websites'; on the increase in users.
16:03 | Nick details the functions of the five sister websites.
18:46 | Nick reveals that all operations have been carried out internally, and the strengths this has offered.
20:44 | Nick recounts how his education and personal life led him and his partners to create forecasts for specialist activities. He describes the decisions that led them to launch a public website.
26:31 | Nick enthuses about the community served by the website, and talks about the community's impact upon decisions made in operating the website.
27:21 | Nick explains how the website developed into a business that creates revenue. He pinpoints the moment when he realised the business was sustainable and successful.
32:22 | Nick explains that the subscription service created a demand for customer service, and discusses how the company grew and developed to meet this demand.
34:05 | Nick outlines the timeline of launching the five sister websites. He talks about some of the new challenges involved in operating these sister websites.
36:55 | Nick recognises the imperative nature of moving towards revenue streams beyond advertising, due to changes in advertising legislation. Alan and Nick discuss the challenges that these changes have presented. Nick continues by describing their response to problems, and explains how the company culture allows them to turn issues into advantages.
42:12 | Alan and Nick discuss the importance of a strong company culture.
44:23 | Nick shares his hopes for the growth of the websites, and some new innovations for future proofing.
49:32 | Alan discloses his experience with defending patent and gives some advice.
51:06 | Nick reveals the lessons he has learned from the business. These include include not pursuing side streams that aren’t lucrative and the importance of consulting other sources
for innovation and technical input.
54:12 | Nick shares the URL for all the forecast websites, and his contact details.
55:40 – Alan thanks Nick for coming on the show, wrapping up the interview. He ends by reminding listeners where to get in touch.