EP 544: RevBoss $700k 2015 Revenue, Now $90k MRR to Help Customers Drive Revenue with CEO Eric Boggs

Eric Boggs: He's the CEO at RevBoss – a sales prospecting SaaS company. RevBoss helps B2B sales teams grow pipelines and win more customers. Prior to RevBoss, he was the founder and CEO at Argyle Social and was a one-man sales team at Bronto Software. Eric is in North Carolina with his wife and 3 small children.

Famous Five:

• Favorite Book? – The Hard Things About Hard Things
• What CEO do you follow? – Matt Williamson
• Favorite online tool? – Stripe
• Do you get 8 hours of sleep? – No
• If you could let your 20-year old self, know one thing, what would it be? – "To not worry so much about the long term—that things just have a way of working themselves out"

Time Stamped Show Notes:

• 01:35 – Nathan introduces Eric to the show
• 02:10 – Eric shares what happened to Argyle
• • 02:42 – Argyle raised $1.5M
  • 03:52 – Argyle's buyers
• 05:32 – Eric was only 22 when joined he Bronto
• • 05:39 – Eric was a one-man sales team for 2 and half years
  • 06:32 – Eric went to business school after Bronto
  • 07:05 – Bronto is now an Oracle company
• 07:12 – RevBoss is a SaaS company that helps B2B seller relations find more prospects and win more customers
• 07:45 – In between the Argyle wind down and RevBoss, Eric was a consultant for a year
• 08:20 – RevBoss' competitors
• 09:20 – RevBoss started as a services company and launched in September 2016
• • 09:47 – Building a services business is easy, growing it is hard and turning it into a SaaS business is much harder
• 10:26 – Eric shares the weird things he encounters in the business
• 11:07 – "We're cannibalizing ourselves a little bit" in the short term, in regards to services revenue vs. recurring Saas revenue
• 12:12 – Average customer pay per month
• 12:28 – Weighted MRR
• 12:39 – RevBoss raised a seed round for $1.1M
• 13:45 – Eric sold 20% of the business for $1.1M
• 14:50 – Total 2015 revenue
• 15:01 – Team size and location
• 15:41 – Projected LTV
• 16:27 – CAC
• • 16:34 – All inbound sales
• 17:20 – Gross churn
• 17:59 – Eric plans for the worst after his experience with Argyle
• 19:50 – The Famous Five

3 Key Points:

• Recurring SaaS revenue will beat out services revenue in the long run.
• Your worst experiences are your greatest teachers.
• Don't worry too much about the long term—things just have a way of working themselves out.

Resources Mentioned:

• Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip – Nathan uses Drip's email automation platform and visual campaign builder to build his sales funnel
• Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn't have to hire a co-founder due to the quality of Toptal
• Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Jamf – Jamf helped Nathan keep his Macbook Air 11" secure even when he left it in the airplane's back seat pocket
• Show Notes provided by Mallard Creatives