Interview With Michael Beauchamp
Describe your product or service:
“GO is a first-of-its-kind car subscription that is around 20% less than traditional lease/finance. Order online, free delivery, zero down.”
Describe your company values and mission:
“Frustrated with the current car shopping experience, we built the company we wanted to be a customer of. We started by removing all the annoying things about car shopping that add cost with no value. No brick and mortar. No massive overhead. No long price negotiations. No catch. Then we incorporated a proprietary system that combines technology, data science, and fleet management to increase efficiency and reduce cost.
The result: Get your next car in less time and for less money than you’ve ever experienced before.
GO is led by a group of former executives from marketing and advertising, automotive, car rental, dealers, and startups. The GO subscription is currently available in Pennsylvania, Delaware, New Jersey, and Florida. Additional states coming soon.”
How are you funded? I.e. venture capital, angel investors, etc.
“VC (Venture Capital) and PE (Private Equity)”
How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)
- COO [has] over 20 years experience in traditional automotive retail.
- CAO [has] over 20 years in car rental in data science and analytics.
- CTO is [a] former CTO at a large advertising and data agency.”
Did you always want to start your own business? What made you want to become an entrepreneur?
“Yes I've been a lifelong entrepreneur. Being able to solve your own problem and the problem shared with many others in a profitable way is a great way to spend my days.”
How did you come up with your startup idea? How did you decide to actually act on the idea? What gave you confidence that you were on the right track?
“The process for getting a car is not pleasurable. Most would agree the experience has not changed in decades. I set out to change that. It turns out that millions of other people share my frustration and want a better way to get a car.”
How did you come up with your company name? Did you have other names you considered?
“We used to be called Frank, but it was too confusing. GO is all positivity. It's not about the process of getting your car but about where you GO in it.”
What is the greatest challenge you faced in starting your business, and how did you overcome it?
“Raising capital for a massive, asset-heavy idea was extremely challenging.”
Who is your product or service made for? Who is your target market?
“Our average age is actually 40, but we market to 26 to 54-year-olds. Everyone needs a car, and GO is a simple and affordable way to do it, so our TAM is quite large.”
What's your marketing strategy?
“FB, Google, aggregators, partnerships, PR and more.”
How did you acquire your first 100 customers?
“FB and Google.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
“CPC, CTR, website conversions, CAC, on-time deliveries, happy customers, unit economics on the cars.”
What is something that surprised you about entrepreneurship?
“Seems obvious now, but stuff always takes way longer than you think. And never think an investor is here to help you. This isn't charity.”
How do you achieve work/life balance as a founder?
“Play with my kids after work and on the weekends but then work early and late to make time for family and friends.”
How do you stay motivated?
“To build a multi-billion company that improves the lives of hundreds of thousands of customers.”
What are you most proud of as an entrepreneur?
“Being crazy enough to build something that never before existed.”
More on GO
We were fortunate enough to hear some valuable insights during our interview with Michael Beauchamp of GO that will inspire, motivate, and teach aspiring and established entrepreneurs alike.
Startup company GO recently secured new seed funding from investors for its car subscription business.