Episode #31: Building Refine Labs, An Operational Perspective - Megan Bowen
Behind the scenes on creating the B2B marketing juggernaut
Refine Labs has had a seismic impact on B2B marketing.
Whether you agree with their philosophy or not, it's hard to deny its influence. They've set the agenda, defined the terms of the debate, and challenged many aspects of the status quo.
Former CEO Chris Walker catapulted the agency to prominence with his LinkedIn thought leadership. But behind the scenes, there's also been an intricate operational odyssey to scale Refine Labs from scratch to nearly 100 employees.
Today's guest, Megan Bowen, partnered with Chris from the beginning as COO before taking over as CEO in January of 2024. In this no-holds-barred episode, she shares an operational perspective on building Refine Labs, with candid stories and insights about scaling a service-based business, riding the hyper-growth rollercoaster, and weathering economic storms.
I could relate in many ways to the experiences Megan shared, having lived them in my own journey helping build an agency from <10 to 60+ people and an acquisition.
As Megan says during the discussion, building a service-based business is HARD.
Your people are your product, which makes it massively difficult to scale while retaining a consistent delivery quality.
You’re more likely to be bootstrapped, which in some ways is great, but it also makes it very difficult to walk the knife’s edge between supply and demand. You’re either pushing out work (and potentially losing revenue) or paying your excess talent to sit on the bench.
It can be quite challenging to find “service product fit” as market needs and conditions change, so considerable experimentation is required.
What works at 10 people doesn’t always work at 50. You need to continually reinvent your processes as the team grows.
At the same time, it’s also very rewarding work. You can build a profitable business and have a solid exit that’s much more achievable than trying to build the next SaaS unicorn.
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About Today's Guest
Over her 20+ year career, Megan Bowen has built and scaled go-to-market teams at eChalk, ZocDoc, Grubhub/Seamless (IPO: 2014), ManagedbyQ (WeWork Acquisition: 2019) and Platterz.
In 2020, she teamed up with the Founder of Refine Labs to change the way B2B companies go-to-market.
Today, she is the CEO of Refine Labs, A B2B Demand Generation Agency.
Key Topics
[00:00] - Introduction
[01:32] - Megan’s background
[07:06] - Building Refine Labs
[14:15] - Stepping into the CEO role
[16:34] - Prioritizing the health of your team
[21:56] - Segmenting clients and service levels
[23:54] - Packaging, pricing, and service design
[25:46] - Transparency in the sales process
[27:43] - Achieving consistent service quality when scaling the team
[31:21] - Onboarding process
[31:59] - Balancing supply and demand in agency staffing
[35:23] - Transparency around layoffs
[37:12] - Evolution of Refine Labs methodology
[40:36] - Partnership with Aspireship