EP 365: From Consultant to $300k SaaS with Amit Kotharie of Tallyfy

Amit Kothari. He spent ten years in London dealing with some of the largest companies and organizations in the world and helping them with collaboration technology. After seeing a lot of failures in that industry, he realized he needed a very structured process with unstructured, human conversations to make his business succeed.

Famous 5:

• Favorite Book? – The Innovator's Dilemma
• What CEO do you follow? — Jack Welch and Warren Buffett
• Favorite online tool? — DropBox, Xero

• Do you get 8 hours of sleep?—Yes
• If you could let your 20 year old self know one thing, what would it be? — "Never confuse movement with action." –Hemingway

Time Stamped Show Notes:

• 01:10 – Nathan introduces Amit
• 01:45 – Tallyfy
• 02:05 – The company's program helps remove routine processes throughout the day
• 02:30 – They started in Chili with a grant in 2014
• 03:00 – Then they got a grant from the US
• 03:30 – First year had no revenue
• 03:45 – $300k in 2015, with $600k total
• 04:15 – Paying customers
• 04:50 -- $39/month is the average that customers pay
• 05:15 – Monthly revenue
• 06:00 – They have several different services and processes
• 06:35 – Pure MRR in April -- $4000
• 07:10 -- Professional services is a huge chunk of revenue
• 08:20 – Starting out with professional services brings in a lot of revenue
• 08:50 – Team size is 5, with a few freelancers
• 09:05 – Total capital $500000
• 10:10 – Amit and his wife are cofounders
• • 10:25 – They have a rule to stop talking about work after 6 pm
  • 11:00 – They believe in their business
• 11:45 -- tallyfy.com and @tallyfy on Twitter
• 12:00 – Consistency is the secret to a growing company's success
• 14:20 – The Famous Five

3 Key Points:

• Start a business that you believe in.
• Look for grants and funding opportunities.
• If you want to scale your business, you have to put effort into consistency.

Resources Mentioned:

• Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
• Freshbooks - The site Nathan uses to manage his invoices and accounts.
• Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
• Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
• The Innovator's Dilemma – Amit's favorite business book
• DropBox – One of Amit's favorite online tools, that allows businesses to share files online
• Xero – Online accounting tool
• Show Notes provided by Mallard Creatives