EP 369: 22 Customers Pay $50K/Year SaaS AppZen.com with Anant Kale

Anant Kale, cofounder of AppZen. Anant had a job that paid him $200000 a year when he decided to go off on his own and start a business. Hear the success story of his artificial intelligence software which has "transformed the back office" for companies everywhere.

Famous Five:

• Favorite Book? – Who Says Elephants Can't Dance
• What CEO do you follow? — Elon Musk
• Favourite online tool? — Rapportive and Calendly

• Do you get 8 hours of sleep?—No
• If you could let your 20 year old self know one thing, what would it be? — Start a business earlier than you think you should.

Time Stamped Show Notes:

• 01:25 – Nathan introduces Anant Kale
• 01:55 – AppZen uses artificial intelligence software in offices
• 02:45 – It detects information on employees and statistics automatically
• 03:30 – Founded in 2013
• 04:00 – 2015 revenue was just under $1 million
• 04:45 – They have 22 customers
• 05:00 – Average contract price is $150000
• 05:20 – Capital raised is $14 million
• 06:10 – 14 people on the team
• 06:40 – No churn so far
• 07:15 – Average customer acquisition cost is very low
• 08:15 – Too early for lifetime value
• 09:05 – Evaluation for the company
• 10:15 – Goal is to double revenue in 2016
• 13:00 – Anant is a cofounder
• 13:50 – The company was split according to responsibilities and contributions
• 14:40 – He always wanted to really build a company on his own
• 16:00 -- The Famous Five

3 Key Points:

• Don't put off starting your own business.
• A large salary doesn't mean that you will be satisfied with your job.
• If you have an entrepreneurial spirit, follow that desire.

Resources Mentioned:

• Freshbooks – The online tool Nathan uses to keep track of receipts
• Hostgator – The program Nathan uses for his website
• Rapportive and Calendly – Anant's favorite online tools

• Show Notes provided by Mallard Creatives