EP 401: Quit $180k Microsoft Job to Launch Own Startup with KarmaCircles CEO Deepak Goel
SaaS Interviews with CEOs, Startups, Founders · Nathan Latka
August 29, 201621m 8sExplicit
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Show Notes
Deepak Goel, the mastermind behind his new company KarmaCircles. Deepak says the company is the next-generation LinkedIn. He believes he has found his calling in life as an entrepreneur in the social networking niche.
Famous Five:
- Favorite Book? – Give and Take
- What CEO do you follow? — Jeff Weiner, CEO of LinkedIn
- Favorite online tool? — Mint, Appear.in
- Do you get 8 hours of sleep? — Absolutely.
- If you could let your 20 year old self know one thing, what would it be? — Don't stay in a company for more than two years.
Time Stamped Show Notes:
- 01:05 – Nathan introduces Deepak
- 01:50 – KarmaCircles is an app that connects entrepreneurs with successful business people
- 02:55 – Pilots with business schools and corporate companies
- 03:15 – No money the first year
- 03:30 – What companies are similar to KarmaCircles
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- 04:20 – A LinkedIn of the future
- 05:00 – All free pilots right now
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- 05:45 – Why they are not charging for the app now
- 06:40 – Will the customers pay when they make that shift?
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- 07:10 – If customers like the product, they will stay
- 07:40 – Target annual contract value size
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- 07:55 – 500 users per month for business schools
- 08:45 – It can be used by any company that does networking
- 09:00 – Much larger contracts for corporate companies
- 10:10 – Capital from six angel investors
- 10:40 – 6 people on their team
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- 10:50 – They pay $3000/month for six engineers
- 11:40 – Differences between them and the company Clarity
- 12:00 – Social networking is Deepak's "life calling"
- 13:00 – Karmacircles.com/Deepak
- 15:00 – Giving of yourself for free will circle back to you
- 15:45 – The Famous Five
3 Key Points:
- Find the industry that you were made for.
- If you give to others freely, you will see karma come back around to you.
- Believe in your business and set high expectations.
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.
- Mint – Deepak's favorite online tool
- Appear.in – A video conversation tool that requires no download
- Show Notes provided by Mallard Creatives