
SaaS Interviews with CEOs, Startups, Founders
3,101 episodes — Page 52 of 63
EP 539: eTailInsights Bootstrapped, $1.4m ARR Ecommerce Data with CEO Darren Pierce
EDarren Pierce. He's the founder and CEO of eTailInsights. Prior to launching the business, he has spent many years working with B2B companies specializing in leadership, strategic development, client relationships, and maximizing revenue growth. Darren was the Director of Sales for First Research which was acquired by Hoover. Darren helped Bronto Software accelerate their revenue market share to become the leading email service provider in the ecommerce industry. He's a graduate of The Walker College of Business at Appalachian State University with 2 BSBAs in Management and Marketing. Famous Five: Favorite Book? – The Hockey Stick Principles What CEO do you follow? – N/A Favorite online tool? — Buffer Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Darren wished that his 20-year old self could have been more patient Time Stamped Show Notes: 01:50 – Nathan introduces Darren to the show 02:35 – Darren didn't want to leave Bronto Software, but he came up with the eTailInsights' idea and couldn't let it pass 02:53 – Darren joined Bronto, in 2008, to help sell their email marketing and make offers to online retailers 03:25 – One of the early problems in Bronto was how to find the companies/retailers 03:47 – eTailInsights is a database that indexed the e commerce companies 04:03 – eTailInsights is a SaaS business 04:10 – Average MRR/ARR 04:43 – The pay is manual upfront 04:48 – eTailInsights was launched in 2011 04:51 – Total 2015 revenue 05:15 – 2016 goal 05:50 – Average MRR 06:18 – Average churn is adjusted 06:50 – CAC 07:29 - eTailInsights' average pay per click 07:48 – LTV 08:25 – eTailInsights has been tracking hundreds of thousands of retailer globally 08:36 – eTailInsights will start indexing next year 08:58 – Number of current companies is 3000 09:09 – The three biggest competitors of eTailInsights 10:08 – Exit is not Darren's priority at the moment 10:16 – Darren's dream number is $100M 11:18 – Darren wants to know how far his business can go 11:30 – eTailInsights is completely bootstrapped and they have $100K in it 12:06 – Current head count 12:20 – Average compensation 12:36 – eTailInsights' location 12:52 – eTailInsights sourced their own data and they built their own tech 14:38 – The Famous Five 3 Key Points: When you become predictable, you lose SO much leverage. If the idea of a business strikes you, go with that passion and just do it. Be patient—it takes patience to be a successful entrepreneur. 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
EP 538: Nexd.io Raises $1m Pre-Rev, Aims $6M Series A For Smart Sales Automation with Founder James and CEO Larry
EJames and Larry of Nexd.io. James is the founder and the Chief Stratgey Officer of Next.io and has previously worked with IBM, Socialware, SailPoint Techologies. He has studied at Berkeley and now builds softwares that help people everyday. Larry is the President and CEO of Nexd and is highly experienced in leadership and operations. Famous Five: Favorite Book? – Peopleware (James) What CEO do you follow? – Jeff Miller (Larry) Favorite online tool? — Clearbit (James) Do you get 8 hours of sleep?— Yes (Larry) If you could let your 20-year old self, know one thing, what would it be? – James wished he built a network. Larry would tell himself that the most important thing is execution. Time Stamped Show Notes: 01:42 – Nathan introduces James and Larry to the show 02:10 – Larry just joined Nexd and he's the new CEO 02:26 – Larry helps James build a business around the idea 02:34 – Larry's background is multiple CEO 03:35 – James shares why he brought Larry in 03:59 – Nexd was founded 14 months ago 05:23 – Nexd's space is analytics 05:45 – Nexd analyzes which emails are effective 05:55 – Nexd is currently on pre-revenue 06:00 – Nexd raised a million dollars on a seed round 06:10 – It is a convertible note 06:12 – Nexd did 2 convertible notes 07:10 – Larry discusses what he thinks about CEOs and founders not being on good terms in a company 07:20 – Larry has been an advisor to VCs 07:30 – Larry shares his advice to entrepreneurs 07:56 – Founders and CEOs should agree on who is going to drive the steering wheel 08:43 – Larry shares how he and James would represent the company in a sample article with TechCrunch 09:15 – Larry shares how they would resolve a possible disagreement in a seed round 10:17 – It was James' own decision to get a CEO 10:48 – On the technical side, there is another co-founder 11:10 – "What Nexd is doing is going to be a game changer" 11:32 – Nexd targets sales manager and sales reps 12:58 – James and his co founder's background is enterprise integration problems 13:20 – "We're trying to be a system of engagement for multiples systems of work" 13:43 – Target for Series A is $6-7M 14:08 – A minimal viable product is needed to step forward—a pilot that has been tested 15:50 – Nexd is not interested on a quick exit and they are going to be the next great company 17:50 – The Famous Five 3 Key Points: Choose someone who can do something you're not good at and who you respect. Founders and CEOs should agree on who's going to drive the steering wheel – if issues come up, own your mistakes and deal with it. You need a minimal viable product with validation from potential customers to move forward with your business. 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
EP 537: Raised $150k Then CTO Left, Now He's Cruising $30k MRR with LeadFuze CEO Justin McGill
EJustin McGill. He's an entrepreneur and owned a startup in 2008 when he started a digital agency. After he scaled that out, he launched LeadFuze – a B2B lead generation platform. He's also the co-host of Zero to Scale Podcast which gives us a behind the scenes look at growing a startup with 200K per month in MRR. Famous Five: Favorite Book? – The Ultimate Sales Machine What CEO do you follow? – Elon Musk Favorite online tool? — ZenPayroll which is now Gusto and bench.co Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Justin would've told himself that entrepreneurship was a path in life he could take Time Stamped Show Notes: 01:50 – Nathan introduces Justin to the show 02:15 – LeadFuze is a software platform 02:21 – LeadFuze allows to you to search for contact information and automate the outreach to ideal and prospective customers—turning them into possible sales opportunities 02:35 – LeadFuze is a subscription-based company 02:55 – Average MRR is $175 03:08 – Early stage companies are using LeadFuze 03:25 – Average number of customers 03:45 – LeadFuze started off completely bootstrapped and had a small raise of $150K 03:56 – Two of three investors are Rob Walling of Drip and David Hauser of Grasshopper 04:26 – Justin shares why he decided to take capital 04:43 – Justin did a small equity round 06:10 – If you're trying to grow your sales, LeadFuze can help you 06:43 – LeadFuze is web-based 07:00 – LeadFuze wants to focus exclusively on lead generation 07:24 – LeadFuze is a software with a service 08:14 – Gross customer churn and revenue churn 08:35 – "Customers stay for 6 months or so" 09:15 – Why not just charge $175 upfront? 09:31 – LeadFuze is currently a product company without engineering help 09:47 – Justin is trying to look for a CTO 10:58 – Justin shares why his CTO left 11:57 – Current team size on remote 12:18 – About to open an office in Phoenix, AZ 12:30 – LeadFuze has 3 co-founders, one who was Justin's sales coach 13:55 – CAC 14:05 – Around $300 14:28 – Justin invested in content and that is what driving the signups at the moment 14:50 – LeadFuze offers 20 leads for free 15:02 – 8.5% of the signups convert from free trial to paid 15:10 – Free trial doesn't require a credit card 15:40 – Total 2015 revenue 15:50 - LeadFuze started totally free 16:11 – Average total cash flow by the end of 2015 is around $250K 16:45 – Some of the sources where LeadFuze pulls data are from ClearBit, Full Contact, and Tower Data 17:23 – Hit Justin up on Twitter 18:55 – The Famous Five 3 Key Points: As a startup, the pay-as-you-go model may be more beneficial than subscription plans. Entrepreneurs need to be more open about their people leaving. Don't waste time and TAKE the leap as early as you can. 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 ClearBit, Full Contact, and Tower Data Where LeadFuze pulls its data @Jus10McGill – Justin's Twitter handle Show Notes provided by Mallard Creatives
EP 536: HGData $24M Raised, $10M 2016 Revenue Helping B2B Companies Get Accurate Data with Mark Godley
EMark Godley. He has held leadership positions at technology companies of all different sizes from pre-revenue to publicly traded. He's best known for driving revenue and outpacing industry growth while rejecting herd mentality. Outside of work, Mark finds time daily to read, work-out, and cook—all the while, being an engaged father, spouse, and citizen. Famous Five: Favorite Book? – The Devil in the White City What CEO do you follow? – Henry Schuck and Yonatan Stern Favorite online tool? — Flipboard, Stitcher, GaggleAMP and Lead Forensics Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Living below your means gives you tons of options. Think about the life you want at age 50 and work backwards. We're running a marathon not a sprint, and it takes planning, sacrifice and resilience and then, don't define success and happiness by your paycheck" Time Stamped Show Notes: 01:42 – Nathan introduces Mark to the show 02:25 – HG Data is in a competitive and intelligent space 02:35 – HG Data build data sets, used by sales and marketing teams, to do precision targeting at scale 03:05 – The founder founded HG Data in 2012 after an exit 03:43 – Mark is the Chief Revenue Officer (CRO) at HG Data 04:02 – Mark handles all the market phasing for the company 04:31 – When HG Data was founded it served the enterprise space 04:49 – Last year is when they started to go down market 04:58 – Number of enterprise clients is 15-20 with 6-figure ARR 05:15 – HG Data had traditional customers, as well, that totaled 50 05:58 – HG Data transitioned from a data company to a product company 06:12 – Total ASP 06:50 – HG Data wants to increase the customer base, but lower the RPU 07:56 – HG Data created a use-space specific databases 08:19 – HG Data tries to keep the balance of enterprise and down market pricing 08:34 – 50% of the revenue is from direct clients and 50% is from the partners 09:22 – Mark shares what he is worried about in regards to their target 10:09 – Mark shares how their partners use their data 10:55 – Average pay per user annually 12:05 – There are 10-50 OEMs in the customer base 12:37 – Average number of customers 13:00 – Mark only follows ARR and not MRR 13:27 – Mark shares that they are focused on building the new space—they are currently spending and losing money by design, but hoping for a positive cash flow 14:00 – Gross annual customer churn is less than 10% 14:30 – "We've had one 6-figure churn in the last 4 years" 14:40 – CAC 15:23 – "We're looking for a more high-velocity sales model" 16:13 – The company is based in Santa Barbara, where they have 80 employees 16:42 – Connect with Mark through Twitter and LinkedIn 18:40 – The Famous Five 3 Key Points: "We're running a marathon, not a sprint, and it takes planning, sacrifice, and resilience." Be mindful of your partners BEFORE making decisions. Live without regrets. 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 @Mgodley21 – Mark's Twitter handle LinkedIn – Mark's LinkedIn account Show Notes provided by Mallard Creatives
EP 535: He's 24 yo Founder, Now VC at Hummingbird
EDominik Vacikar. He is currently an Associate at Hummingbird VC, but was previously the co-founder of Spaceship and some other startups, including Growth at Nestpick. Listen as Dominik gives us an inside look at the workings of Spaceship and why he was chosen by Hummingbird for a very specific task. Famous Five: Favorite Book? – Zero to One What CEO do you follow? – N/A 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? – Dominik wishes he wasn't so hard on himself, so long as he was progressing Time Stamped Show Notes: 01:35 – Nathan introduces Dominik to the show 02:00 – Spaceship started as a side project when Dominik had their lead generation tool in social media 03:02 – Dominik shares how Spaceship works 03:18 – Spaceship searches your entire target audience and provides you with prospect data 03:35 – Spaceship is pay-as-you go 03:51 – 10% of Spaceship's customers are on a monthly plan 04:10 – Spaceship was launched in October 2015 04:30 – 2015 revenue 04:55 – Current total revenue 05:12 – Dominik shares why he turned to Hummingbird 06:33 – Spaceship was bootstrapped 06:52 – Spaceship's current team size 07:20 – Dominik has been with Hummingbird for 2 months 07:30 – Hummingbird wants Dominik to build a radar for startups 07:54 – The radar will track interesting companies and identify them 08:29 – Dominik shares how their product is different from Crunchbase 09:31 – Dominik shares the variables they use to identify the startups 10:30 – The current biggest problem is updating the data as frequently as possible 11:45 – Hummingbird is good at identifying the funders' DNA 12:08 – Hummingbird's main area of expertise 13:00 – Hummingbird might be interested in a Series A 13:21 – Hummingbird's ARR target 14:05 – Nathan asks Dominik about Spaceship's founder 14:37 – Dominik is active on Twitter and LinkedIn 16:10 – The Famous Five 3 Key Points: Growth comes in many forms—sometimes from within your own company or from the help of others. Develop your expertise by drawing knowledge from other fields and markets. Your progress determines your future and YOU set the pace. 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 @chichikid – Dominik's Twitter handle LinkedIn – Dominik's LinkedIn account Show Notes provided by Mallard Creatives
EP 534: 29yo Radius CEO Raises $100M, Helping Expand B2B Sales Pipelines with Darian Shirazi
EDarian Shirazi. He's the CEO and co-founder of Radius. He was an early employee at Facebook and worked on the" Sell Your Item" Team at eBay. He's founded, invested, and advised many successful technology companies. Prior to starting Radius, Darian studied Computer Science and Philosophy at UC Berkeley. He's also a prominent keen speaker at Top of Technology Innovation. Famous Five: Favorite Book? – The Essays of Warren Buffet What CEO do you follow? – Marc Benioff Favorite online tool? — Yesware Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "How much harder building the business is than you originally thought and how once you get to scale how amazing it feels." Time Stamped Show Notes: 01:42 – Nathan introduces Darian to the show 02:15 – Darian shares about his time with Facebook 02:30 – Darian's favorite project on Facebook was Facelift 02:45 – Darian shares what he thinks of Mark Zuckerberg 03:30 – Darian can't think of a time when Mark was at odds with another team member 03:58 – Radius is about growing pipelines for B2B marketers 04:08 – The customers are typically enterprise and mid-market businesses 04:15 – Radius fixes data 04:30 – Radius' services 04:48 – The whole foundation of the product starts with the Radius business graph 05:17 – Darian shares how they help the client 05:40 – Darian shares how Radius is different with CB Insights 05:50 – Radius' data is powered by their customers which allows them to access their CRMs 06:20 – The activity data allows Radius to improve their data 06:50 – Radius doesn't rely on publicly available data 07:30 – Radius was founded in 2011 and launched in 2013 08:00 – Average number of customers 08:30 – It is not really a seat model 09:10 – Radius has a used cased expansion 09:41 – Team size is currently 150 people 10:00 – Radius has currently raised $100M 10:25 – Radius still has a lot of net capital left 10:42 – Radius' retention for enterprise customers is around 93% 10:50 – Gross monthly customer churn 11:24 – Darian shares what drives their revenue 11:48 – Radius's implementation day is only 18 days so customers see the value quickly 12:11 – Radius' pricing 12:23 – ACV 13:00 – First year revenue 13:25 – Darian has 2 co-founders 14:07 – Radius requires a team 14:28 – Darian hired people from enterprise companies 15:00 – Darian shares Radius's CAC to LTV ratio 15:36 – Radius's sales cycle 15:52 – "Customer trust is our number one value" 16:50 – It is difficult to measure CAC to LTV when enterprise companies rely on big events for marketing 17:53 – Radius's growth rate 19:14 – Radius' marketing budget 19:29 – The amount Radius spends on Dreamforce 20:27 – Dreamforce is an incredible way to grow a pipe 20:40 – Is Radius going to be the next Benioff's acquisition? 21:48 – Darian shares how Microsoft has been an incredible partner for Radius 22:36 – The last funding 23:05 – Darian discusses Radius' future 23:40 – Follow Darian at Twitter and email him 25:35 – The Famous Five 3 Key Points: It takes a great team to create a great product. Take what you've learned from your last employer, be grateful for it, and leave graciously. Acquisition requires planning, an exchange of ideas, and thorough researching. 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 [email protected] – Darian's email address @Darian314 – Darian's Twitter handle Show Notes provided by Mallard Creatives
EP 533: $1.5M Raised, $100k MRR Helping 800 Customers Manage and Track Documents with CEO Tim Samulet
ETim Saumet. He is the CTO of the company called Tilkee – a SaaS solution software for business proposals, follow ups, and sales process tracking. It is a super hot space. Before that, he was involved with OXFOC Technologies as the CEO. He is also a Manager of General Services in another company and a Project Manager at Travel Due. Famous Five: Favorite Book? –100 Conseils Pratiques Pour Couler sa Boite What CEO do you follow? – Bruno Bonnell and Elon Musk Favorite online tool? — Zapier Do you get 8 hours of sleep?— "Yes" for Kate and "No" for Tim If you could let your 20-year old self, know one thing, what would it be? – Tim would have focused more on personal development Time Stamped Show Notes: 01:37 – Nathan introduces Tim to the show 02:13 – Kate is developing the European market 02:30 – Tim used to be a salesman and it was difficult for him 03:03 – Tilkee is a simple SaaS software to analyze a prospect's behavior 03:30 – Tilkee works with any kind of document 03:50 – Tilkee started as a side project 3 and a half years ago 05:00 – First year revenue was $20K 05:15 – Tilkee is currently serving 800 customers 05:41 – Average customer pay per month 06:20 – December 2015 MRR 07:30 – Tim started with small companies, then progressed to enterprise companies 08:05 – Tim pivoted the product and customer base 08:12 – Tim raised, 2 years ago, a million and a half dollars 08:34 – Tim is thinking of raising more next year 09:08 – Tim won't go to a typical Series A round 09:35 – Employees have a part of the equity 10:15 – Tim wants a raise, but would still want more than 50% of the company 10:37 – Typical valuation in Europe 11:15 – Gross monthly customer churn 12:00 – Kate shares how they find their enterprise deals 13:22 – Tilkee is not doing an e-signature but a u-sign from the European market 14:14 – A customer lifetime value 14:45 – Average CAC 15:45 – Tilkee has an advertisement in one of the biggest French radio stations 16:20 – Current team size is 20 and 15 from them are salespeople 16:42 – Tim shares the stack they have built Tilkee on 17:15 – Kate is currently using Pipedrive to drive Sales 18:35 – Find Tilkee on Twitter and Facebook 20:19 – The Famous Five 3 Key Points: You CAN solve your own problems—you just need to do the work of finding solutions. Raising capital is always an option to take that next step forward for your business. Meditation is a great avenue for personal development. 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 kept his Macbook Air 11" secure even when he left it at the airplane's back seat pocket @TilkeeUs – Tilkee's Twitter handle Facebook – Tilkee's Facebook account Show Notes provided by Mallard Creatives
EP 532: $1m Raised, $70k MRR to Record Sales Calls and Coach with ExecVision's Steve Richard
ESteve Richard whose mission in life is to help as many sales professionals as possible to become wildly successful. He has been featured in numerous publications including The Harvard Business Review, The Washington Business Journal, and The Washington Post. Outside of work, Steve enjoys scuba diving, skiing, running, and people-watching. He's from Arlington, VA, with his wife Ellen and their 4 kids all under the age of 7. Famous Five: Favorite Book? – RSVP Selling What CEO do you follow? – Tony Bates Favorite online tool? — Owler Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "You got to start with the technology company in the beginning because you're going to create much more impact on people's lives" Time Stamped Show Notes: 01:58 – Nathan introduces Steve to the show 02:45 – Steve shares the idea of ExecVision 03:17 – ExecVision is a SaaS business 03:20 – There are 50 organizations who are currently using ExecVision 03:34 – ExecVision allows you to access, analyze, and share call records 04:20 – Average pay per user per year and how it ranges per sales person 04:54 – Average MRR 05:24 – Sales professionals love ExecVision 06:04 – ExecVision has coaching requests for their customers 06:37 – Every month there's a high volume of requests for coaching 07:13 – ExecVision has voice recognition 07:52 – Richard shares how their customers find valuable keywords in ExecVision 09:15 – Richard was running Vorsight before ExecVision 09:50 – People pay per meeting 10:02 – Richard used the profitability of Vorsight to fund ExecVision 10:15 – Richard has raised capital for ExecVision 10:58 – Richard shares what drives them 11:38 – They have raised around $1M 11:50 – Richard acquired ExecVision in April, 2015 12:07 – None of the original people from ExecVision are still working with the company, but they have equity 12:26 – Retention is 90% annually 13:38 – CAC 14:42 – Total head count is 15 14:55 – ExecVision is based in Arlington, Virginia 15:27 – First year revenue 16:08 – Connect with Richard through Call Camp 18:30 – The Famous Five 3 Key Points: Use your stress to CREATE an idea to relieve that stress. Sales professionals who analyze and assess feedback well WILL improve in their field. Make something that adds value to people's lives. 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 Call Camp – Steve's Call Camp Movement website Show Notes provided by Mallard Creatives
EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin
EAlex Babin. He's a serial entrepreneur who has more than 10 years of expertise in innovation, product development and artificial intelligence. He started his first hybrid vehicle company at the age of 24 funded by DFJ. He also founded an interactive video software company. Now, he's running an artificial intelligence, communication startup which is building a device-centric, secured, corporate email client called Zero. Famous Five: Favorite Book? – Steve Jobs What CEO do you follow? – Mark Daniels Favorite online tool? — HubSpot Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Trust your intuition" Time Stamped Show Notes: 01:45 – Nathan introduces Alex to the show 02:23 – Alex loves listening to podcasts 02:53 – Zero is currently on pre-revenue, but they have a list of pre-sales 03:12 – Zero is focused on the corporate market 03:28 – Zero helps people be more productive with the help of AI 03:38 – Zero charges per user per month on the corporate market 03:48 – Zero was launched 2 years ago, was in self-mode for 1 year, and launched the first version a year ago 04:00 – Zero had a seed round, in May, from angel investors 04:41 – Zero has 3 founders and a total of 6 on the team 05:19 – The one who will win the space in the market is the one who will penetrate the market with the most convenient product for the customer 05:33 – Customers don't want to change anything – they have strict security policies 07:15 – Zero has 30,000 downloads 07:30 – 2,000 active daily customers 07:37 – Alex shares the difference between daily and monthly active customers 08:55 – Zero has recently introduced exchange support 09:28 – Zero currently targets CIOs 09:48 – Zero's pricing 10:10 – Alex shares that they are open to another seed round 10:19 – Target to raise is $1M 10:22 – Convertible note CAP of $5M 11:00 – Some of the customers are converting into investors 11:38 – Find Alex on Twitter 13:05 – The Famous Five 3 Key Points: The one who wins the market is the one who penetrates the market with the best and most convenient product for the consumer. Be patient and respectful with your customers when explaining your product. TRUST your intuition—it's often the right direction to follow. 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 kept his Macbook Air 11" secure even when he left it at the airplane's back seat pocket @AlexBabin – Alex's Twitter handle Show Notes provided by Mallard Creatives
EP 530: Shut Down $2m Business, Why with CEO Shawn Livermore
EShawn Livermore. He's an author and technology consultant and more recently, the founder and CEO of tech startup Ziptask which has generated nearly $2M in revenue. He has raised 4 rounds of funding and closed it down to take on new opportunities. Famous Five: Favorite Book? – Tipping Point What CEO do you follow? – Mark Fields Favorite online tool? — Acuity Scheduling Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Calculate risk carefully" Time Stamped Show Notes: 02:00 – Nathan introduces Shawn to the show 02:30 – Ziptask is a fully-managed outsourcing with a progressive effort to fix the problem of outsourcing technology projects 03:23 – "We succeeded in the goal, but we failed as a company" 03:31 – Shawn raised 4 seed rounds 04:18 – Shawn also had his day-time clients as a technology consultant 04:50 – Ziptask dissolved in September 2016, and was launched in 2010 05:05 – Ziptask's MRR was $107K 05:30 – Shawn shares why they shut down Ziptask 06:59 – Shawn launched Ziptask prematurely 08:35 – Shawn also did NOT try to sell the business 09:30 – Shawn is now working with Carvana 10:00 – Connect with Shawn through Twitter. Medium and email 10:15 – Shawn is currently working on a book called Obscurity 12:45 – The Famous Five 3 Key Points: The time will come when you have to pull the plug – and when it happens, just do it. Reaching your goal is NOT the peak of success. Calculate risk carefully. 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 kept his Macbook Air 11" secure even when he left it at the airplane's back seat pocket Carvana – Shawn's current employer @shawnypants – Shawn's Medium handle @shawnypants – Shawn's Twitter handle [email protected] – Shawn's email address Show Notes provided by Mallard Creatives
EP 529: $10m Raised, Pre-Revenue, Notion.ai Adds AI to Email Messaging with Co-Founder Guy Suter
Guy Suter and he runs Notion.ai. His mission is to improve communication using artificial intelligence. Previously, he co-founded BitLeap and led the product to the world's top selling appliance after 2008 acquisition by Barracuda. He started venture data backup, cloud storage, group chat, file sharing with Copy.com and CRM with Nutshell.com Famous Five: Favorite Book? – Brand New World What CEO do you follow? – Jay Simons Favorite online tool? — Picasso Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "How early stage capital works...and influence management has been the biggest learning experience" Time Stamped Show Notes: 01:35 – Nathan introduces Guy to the show 02:10 – Guy and his co-founder started with a data backup company 02:46 – Notion.ai is currently on prerevenue 03:00 – Notion.ai started 3 years ago 03:47 – Notion.ai was launched in November 2016 04:18 – Digital communication was problematic 04:55 – Notion.ai has raised a total of around $10M 05:13 – Guy started with a lot of SaaS businesses 06:13 – Guy shares the revenue opportunities for Notion.ai 08:00 – There's a huge barrier in entry to Notion.ai's space 09:00 – Guy discusses the companies that are trying to make another category 09:40 – Notion.ai is beneficial to everyone who uses email to interact 10:40 – "Our goal is not to make the best email app In the world" 11:00 – Notion.ai has features that differentiate them from others and offer value 11:10 – Notion.ai is more "people-centric"; the focus is on relationships and what's important based on the message 11:43 – Average number of downloads 12:09 – Notion.ai helps clean-up inboxes quickly 13:00 – Less than a million but more than tens of thousands of downloads 13:39 – The number of downloads consistently grows daily 13:55 – Team size and location 14:20 – Guy shares why they chose Michigan 15:50 – Notion.ai has someone that was from LinkedIn 16:00 – Connect with Guy through Twitter 17:30 – The Famous Five 3 Key Points: The digital communication space has been problematic and we need a solution. Raising big capital on pre-revenue IS possible, if you have a great product that helps people become more efficient in communicating. Have patience, take time, focus on building the right culture, and get your team on board. 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 @GuySuter – Guy's Twitter handle Show Notes provided by Mallard Creatives
EP 528: ConvertKit Hits $480k MRR, Helping 10,000 Professional Bloggers Grow Email Lists with CEO Nathan Barry
ENathan Barry, CEO of ConvertKit – an email marketing company for professional bloggers. Listen as Nathan shares how he manages to stay self-funded while, at the same time, increasing the growth and bloggers' interest in using ConvertKit. Famous Five: Favorite Book? – Predictable Success What CEO do you follow? – N/A Favorite online tool? — Workable Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Pick just one thing you love to do and do it really well Time Stamped Show Notes: 01:50 – Nathan introduces Barry to the show 02:15 – ConvertKit is a SaaS company and has around 10,000 bloggers 02:47 – ConvertKit's pricing depends on the blogger's subscribers count 03:04 – Average revenue per user per month 03:24 – 65% of the users are on $48/month plan 03:48 – ConvertKit's cash flow is doing well 04:15 – Annual plan has a big impact on churn 04:50 – Barry pushes the annual plan on Cyber Monday 05:00 – Average annual plan total 05:30 – ConvertKit had a free 1 month promotion for new users 05:56 – ConvertKit has a 40K email list – half of it is from content marketing, the other half is from webinars 06:30 – ConvertKit has added 25K new people in their list this year from joint webinars alone 06:55 – Barry is using Google Hangout and Chatroll for the webinars 07:20 – ConvertKit is doing 10-20 webinars a month 07:53 – There are 2 people in Barry's team who are involved in the webinar process 08:28 – The team is trying to get people who use MailChimp or Aweber to switch to ConvertKit 08:38 – It is a 2-step direct sales process 09:54 – Barry shares how he mitigates the show up rate in their webinars 10:54 – Some of the bloggers reach out to ConvertKit and some find them through other bloggers 11:16 – Average expenses a month in affiliate payouts 11:33 – A quarter of ConvertKit's revenue comes from affiliate programs 12:10 – 2015 total revenue is around $300K 12:20 – 2016 average revenue 12:34 – ConvertKit is self-funded 12:44 – It was an intentional choice 13:03 – Barry shares what he did when they were almost running out of funds 14:15 – ConvertKit's gross profit and total money in the bank 14:38 – ConvertKit just had a big expense from the annual plan switch 15:15 – Gross monthly customer churn 16:15 – Expansion is ConvertKit's next focus 17:08 – Current CAC 18:28 – Team size and location 18:50 – Average headcount expenses 19:14 – ConvertKit was launched in 2013 20:18 – There are two advisers who have a share in the company 20:45 – Connect with Nathan through ConvertKit and his website 23:20 – The Famous Five 3 Key Points: You can stay self-funded with a fast growing business and by managing your funds properly. Joint webinars and 2-point direct sales are excellent options to increase mailing list. Pick one thing you love to do, focus in, and do it really well. 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 ConvertKit.com – Barry's business website NathanBarry.com – Barry's personal website Show Notes provided by Mallard Creatives
EP 527: Proposify Hits 3200 Customers and $150k in MRR with CEO Kyle Racki
EKyle Racki, co-founder and CEO of Proposify. He's passionate about design, SaaS, and marketing. He loves jamming out to 90s covers/tunes at open mic nights, and also has the unique ability to work in perfectly, cromulent Simpsons' references to any conversation. Famous Five: Favorite Book? – Lean Analytics What CEO do you follow? – Alex Turnbull Favorite online tool? — Heap Analytics Do you get 8 hours of sleep?— Sometimes If you could let your 20-year old self, know one thing, what would it be? – "That it's all going to be okay and…I'm going to give myself a hug" Time Stamped Show Notes: 01:40 – Nathan introduces Kyle to the show 02:24 – Proposify is a SaaS business and it helps people streamline their sales and close more deals 02:40 – Average customer pay per month is $40-$50 02:53 – Current number of customers 03:10 – Average MRR 03:25 – Proposify was launched in 2013 03:35 – Proposify had less than $1000 MRR for 17 months 04:03 – Kyle and his co-founder had an agency 04:22 – Kyle raised $250K in seed capital from a local investor 04:39 – Kyle and his team's pay is around $60K a month during that time 05:40 – Team size is 15 and are located in Halifax, Canada 06:20 – Kyle shares how the startup market is in Halifax 06:50 – Known startup companies from Halifax 07:24 – Kyle does weekly phone calls with customers to check in on them 07:50 – Kyle shares how one of their customers beat VaynerMedia in a proposal 09:15 – How Proposify creates proposals in a flash 09:40 – Proposify's competition 10:04 – Proposify is more focused on the digital agency space 11:25 – Average number of new customers per month 11:50 – Proposify has a free and no-credit card sign-up 12:00 – Proposify does inbound sales, but organic search is the biggest source of traffic 12:43 – Best podcast that drives Proposify's traffic 13:05 – Proposify has a general marketing budget 13:28 - $10K for paid marketing 13:45 – CAC is quite low 14:18 – LTV 14:40 – Gross monthly customer churn 15:00 – Proposify currently has 2 sales people 15:35 – Other system Kyle uses for business intelligence is Heap Analytics 16:16 – Total 2015 revenue is $551K 17:11 – Proposify is profitable and continually growing 18:30 – "We'll always entertain acquisition offers if it makes sense" 19:00 – The process Kyle will go through if there's a possible acquisition 19:47 – Number of Proposify's developers 20:00 – Connect with Kyle through their website and help Kyle look for Proposify.com's owner and he'll pay you 22:00 – The Famous Five 3 Key Points: There's a temptation to spend VC money; be decisive when you want to raise capital and stick to your goals. Organic traffic is good, but getting paid marketing can still drive more traffic and customers. There are a lot of things to consider in an acquisition – it should match your personal goals, be a cultural fit, and the numbers need to make sense. 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 Proposify.biz – Kyle's business website Show Notes provided by Mallard Creatives
EP 526: Yanado Hits $25k MRR, Helping 17000 Users Better Manage Tasks with CEO Ivan Mojsilovic
EIvan Mojsilovic, CEO and founder of Yanado.com – a teamwork collaboration tool that will truly change the way you work. He's also the CEO of E-75 IT Services, a project manager, and a media man who did a small stint at STARTeurope. He's very active in the startup space. Famous Five: Favorite Book? – n/a What CEO do you follow? – Jason Lemkin Favorite online tool? — Slack Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Move out my current city and go travel, travel the world" Time Stamped Show Notes: 01:40 – Nathan introduces Ivan to the show 02:17 – Yanado is a project management tool integrated into Gmail 02:40 – Yanado is SaaS business 02:54 – Average customer pay per year is around $3000 03:30 – Ivan has been in SaaS industry 04:09 – Ivan shares how they started Yanado 04:28 – Yanado started in 2014 04:40 – Total capital raised is $200K and currently fundraising 05:09 – Goal for the current fundraising is $500K in equity round 05:20 – Willing to give up 15% to 20% equity 05:30 – Yanado is based in Eastern Europe 05:40 – Ivan shares about the market in Eastern Europe 06:10 – Ivan shares what happened to their first business 06:30 – The business was doing €200K a year 07:05 – Yanado's average number of paying customers is a little under 100 07:15 – Average MRR 07:45 – Team size 08:10 – Number of total users 08:23 – Ivan shares how their customers find them 09:00 – Gross monthly churn is 7% 09:21 – Average customer stay is 14 months 10:05 – Ivan does the inside sales for Yanado and they just hired a person are planning to do outbound sales 10:40 – Ivan's plans for the company 10:59 – Ivan hopes Google will acquire them 11:45 – As of the moment, Ivan will only sell Yanado for $10M and no less than that 12:00 – Ivan shares how he will sell Yanado to Google 13:00 – Ivan shares how Google can't create something similar to Yanado 13:54 – Follow Ivan on their blog, sales and discussion groups 16:00 – The Famous Five 3 Key Points: Find a way to help people focus their tasks and make life easier. Create a software that is unique and cannot easily be imitated. When you're young and if you can, leave your city and travel the world. 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 Blog – Ivan's blog Show Notes provided by Mallard Creatives
EP 525: Orangedox Doubles Down on Enterprise with $7.5k in MRR with CEO Chad Brown
EChad Brown, CEO and head of product along with his co-founder at Orangedox.com. He has a strong background in business intelligence and technology startups and has a passion for business documents and the color orange. Famous Five: Favorite Book? – Good to Great What CEO do you follow? – Drew Houston Favorite online tool? – Stack Exchange Do you get 8 hours of sleep? – Yes If you could let your 20-year old self, know one thing, what would it be? – "Be more confident" Time Stamped Show Notes: 01:32 – Nathan introduces Chad to the show 02:07 – Orangedox started as document tracking and was originally on Dropbox 02:17 – Orangedox has premium services on top premium products 02:48 – Why would people choose Orangedox over PandaDoc 02:55 – Orangedox is integrated into your account 03:22 – Orangedox is a SaaS business 03:55 – Orangedox has over 20K product signups 04:05 – Orangedox was in beta in 2014 and pre-launch in early 2015 04:25 – Average weekly active customers: 2000 05:05 – Average number of paying customers: about 300 05:30 – Average pay per customer is $25-30 a month 06:00 – MRR 06:17 – Chad was looking at raising capital but still undecided about their focus 06:55 – Chad is looking at their current customer base 07:30 – Chad shares how the customers are using Orangedox and the commonality in paying customers 09:15 – Team size: 2 full-time and few part-time workers 09:30 – Gross customer churn around 5% 09:57 – Chad shares how they acquire their new customers 11:52 – Orangedox is based in Vancouver 12:25 – Chad and his co-founders' plan on the company 12:45 – Chad hasn't focused on a lot revenue at the moment, but is working on closing key enterprise clients 13:21 – Connect with Chad through his email and Twitter 14:55 – The Famous Five 3 Key Points: At first, focus on the betterment of your product as opposed to revenue. Analyze your product's effectivity through your customers' activities. Have the confidence and motivation to do what you want. 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 @Orange_dox – Chad's business' Twitter handle [email protected] – Chad's email address Show Notes provided by Mallard Creatives
EP 524: Podium Hits $1m MRR in 12 Months, $4m Raised with 6500 SMB Customers sub 1% Churn with CEO Eric Rea
EEric Rea, co-founder and CEO of Podium.com which is based in Utah. He's a software engineer at the International Atomic Agency and before that, the founder of FineGrain. He worked at Walmart as a software engineer and he has also interned at Orange Soda. Famous Five: Favorite Book? – Multipliers What CEO do you follow? – Phil Knight Favorite online tool? – Domo and Apple Notes Do you get 8 hours of sleep? – "I get 7" If you could let your 20-year old self, know one thing, what would it be? – "You can always tell them to go to hell tomorrow" – Warren Buffet Time Stamped Show Notes: 01:46 – Nathan introduces Eric to the show 02:20 – Podium helps businesses generate reviews which drives purchase decisions 02:30 – Podium charges $299 a month per location 02:48 – Podium is a SaaS business 02:58 – Average customer pays $499 03:20 – Podium was launched in 2013 03:25 – Eric started Podium because of his dad's business 04:01 – Team size 04:44 – All employees are working full-time 04:50 – Team is based in Utah 05:35 – Podium raised $4M in total 05:50 – First seed round was in 2014 and $500K was raised 05:57 – Raised $3.5M in December of 2015 06:36 – Eric has given up 20% of the business for the seed round 07:38 – Podium has 25000 customers per location 08:13 – Podium has $1M in MRR 08:45 – Podium's gross monthly customer churn is around 1% 09:10 – Net churn is negative 2% monthly 09:50 – Average CAC 10:12 – Average LTV is $12K 11:00 – 2015 ARR is $1.8M 11:30 – 2016 ARR is around $11M 11:41 – Goal for 2017 ARR is $25M 12:55 – Connect with Eric through his website and Twitter 15:05 – The Famous Five 3 Key Points: It's important to have some capital in case you make mistakes – with no capital, just 1 mistake will sink you. Find a solution to the simplest problems to streamline your business processes. The SMB market will continually grow, creating more opportunities for startups. 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 @EricWilliamRea – Eric's Twitter handle Podium.com – Eric's business website Show Notes provided by Mallard Creatives
EP 523: xIQ Using AI to Power Sales Teams with $1.1m Raised with CEO Usman Sheikh
EUsman Sheikh, CEO and founder of xIQ – an award-winning platform for personalized sales, marketing intelligence, and content marketing. He's the former vice president of SAP AG and he's pushing digital frontiers by delivering consumer grade experiences in B2B sales and the marketing space. xIQ is the winner of the prestigious 2016 Content Marketing Institute Award for best integration of mobile and content marketing. Famous Five: Favorite Book? – Zero to One What CEO do you follow? – Bill McDermott Favorite online tool? — Twitter and LinkedIn Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Take risks as early as you can. Time Stamped Show Notes: 01:49 – Nathan introduces Usman to the show 02:30 – xIQ is a next generation sales intelligence tool designed for B2B sales and marketing professionals 03:04 – Usman worked with the top leaders of the world in SAP 03:30 – xIQ extracts the most relevant content from the most reliable sources 04:00 – xIQ is a SaaS product 04:16 – xIQ was founded in 2014, and released in early 2016 04:44 – xIQ raised 2 rounds of seed round 05:08 – Total amount raised 05:37 – Team size is under 15 and is based in Silicon Valley 06:05 – xIQ has 10 corporate customers and thousands of individual customers 06:35 – Average pay of corporate customers 06:57 – Average MRR 07:24 – Usman discusses one of their clients, GenPact, and how they use xIQ 07:42 – First, xIQ is used as a marketing intelligence tool to track competitors 08:47 – All data is real-time 09:20 – xIQ uses Apache Solr technology to index and for natural language processing 09:50 – xIQ gets their corporate customers from organic traffic 10:32 – xIQ's process is the reason why corporate customers end up buying from them 11:12 – List size 11:24 – xIQ has 1 inside sales person 12:29 – No cancellations/churn yet for xIQ 12:53 – CAC 14:10 – LTV to CAC ratio 15:10 – Connect with Usman through LinkedIn, email and website 16:50 – The Famous Five 3 Key Points: Experience is a great teacher—continue to learn and hone your skill set. Building a business takes time and there is always room for improvement. Take risks as early on in life as you can. 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 LinkedIn – Usman's LinkedIn account [email protected] – Usman's email address xIQ.ai – Usman's business website Show Notes provided by Mallard Creatives
EP 522: Delivra $15M 2017 Goal, $700k MRR Now, Helping 450+ Customers Sell Things with CEO Neil Berman
ENathan interviews Neil Berman. This guy knows SaaS and launched his company called Delivra, in 1999, in the email marketing space. Listen as Neil shares how Delivra has grown exponentially in 17 years, without the need to raise funds and get into debt. Famous Five: Favorite Book? – Great CEOs are Lazy What CEO do you follow? – Mark Zuckerberg Favorite online tool? — Twitter and LinkedIn Do you get 8 hours of sleep?— "At least" If you could let your 20-year old self, know one thing, what would it be? – "Patience and determination will win the game" Time Stamped Show Notes: 01:37 – Nathan introduces Neil to the show 01:59 – Delivra is an email marketing software tool that helps clients "sell more stuff" 02:10 – They are a high break-even business with a low variable cost, so the more customers the better 02:15 – Delivra is a SaaS business 02:25 – Delivra currently has 500 direct paying clients, and a couple thousand resellers 02:33 – Average customer pays $800-900 per month 03:21 – Total revenue in 2016 about $4.8M 03:33 – Total revenue in 2015 is $4.2M 03:45 – Delivra has 3 marketing buckets 04:00 – Total team size is over 40+ 04:12 – Main team location in Indianapolis 04:23 – Gross customer churn per month is 1.5% 04:45 – A customer stays with Delivra for 42 months 05:00 – LTV 05:10 – CAC is $1.08 06:33 – Delivra hasn't raised yet and they have no debt, but are looking at options 06:45 – Neil's target for their first round 07:43 – Delivra has grown organically over the years 08:17 – Neil is meeting with a capital markets team to learn about how to take Delivra to the next level 08:50 – Neil would think seriously about an offer 09:40 – Neil shares how their customers are using Delivra 10:25 – Connect with Neil through his website Delivra 12:20 – The Famous Five 3 Key Points: Before you do your first round of raising, get advice from an expert. It's incredible growing through organic traffic, but always aim to know what is the next level for your company. Patience and determination will win the game. 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 Delivra.com – Neil's business website Show Notes provided by Mallard Creatives
EP 521: $5.5M Burger Business, Gets Into Monthly Subscriptions with BurgaBox CEO Chuck Sillari
EChuck Sillari: He was born and raised in Boston and is a graduate of Boston College and Law school. He's a lawyer and a real estate developer who is currently focusing full-time on the expansion of his nationally known Boston Burger Company – a new e-commerce business called BurgaBox.com. Burgabox is in the process of disrupting both the meal kit industry and full service casual dining experience. Famous Five: Favorite Book? – Quench Your Own Thirst What CEO do you follow? – Samuel Adams Favorite online tool? — Hotjar Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "I wish I knew that I should have travelled more and...spend a lot time meeting interesting people because that's where you get inspiration from" Time Stamped Show Notes: 01:40 – Nathan introduces Chuck to the show 02:21 – Boston Burger Company's 2015 revenue is around $5.5M for three locations 02:50 – Chuck has always loved the restaurant industry 03:39 – Chuck jumped into the burger business after 13 years in a law firm 03:45 – BurgaBox opened up in 2009, and Chuck went full-time in 2013 04:07 – "People really loved what we're doing" 04:17 – BurgaBox was in different TV shows 04:30 – BurgaBox became a must-try destination in Boston 04:50 – Chuck brought on 1 investor 05:13 – The investor approached Chuck for the second location 05:31 – The investor knew about the Boston Burger Company because of its popularity in Boston 05:56 – Chuck shares how much they've spent to open up a new location 06:20 – There was no full burger joint in Boston before 06:43 – Chuck shares why the second location costs 10x more than the first location 07:55 – The first location's growth was $700K in their first year 08:24 – It was 450 sq. ft. 08:30 – It is now doing a $1.85M 09:15 – The amount the investor gets in return 10:00 – Chuck has a good partnership with the investor 10:20 – A restaurant's gross margin 11:49 – For every dollar you bring in, 20% should go to your pocket 12:09 – The second location will do around $2.5M in 2016 12:27 – Average profit of each restaurant 12:45 – Chuck's plan for the business 13:03 – Chuck saw how the meal kit delivery industry was booming and wanted a piece of that market 13:20 – The biggest percentage of the diners are tourists and students 13:53 – Chuck started to get into the meal kit delivery in February 14:00 – The meal kit delivery sold around 100 kits in the first month, 2nd month: 150 kits, 3rd month: 400 kits 14:35 – Burger kit's pricing 15:36 – There's a subscription: a monthly box or as a gift 16:05 – Shipping process of the burger kits 16:33 – Follow Chuck by checking out Boston Burger and BurgaBox 18:00 – The Famous Five 3 Key Points: Do what you love and people will, in turn, love what you have to offer. Trust and believe in your business partners. Get your inspiration from people – learn and improve from their feedback. 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 Boston Burger & BurgaBox – Chuck's business website Show Notes provided by Mallard Creatives
EP 520: Agency Hits $6M 2016 Revenue Helping 60 Clients with SEO with PowerDigitalMarketing CEO Nick Bjorn
ENathan interviews Nick Bjorn. He is an entrepreneur by trade and digital marketer by evolution with over 8 years of professional agency experience. He has gained a national and global perspective on the evolving and digital world with an emphasis in search engine optimization or SEO. Nick is the co-founder of Power Digital Marketing which is based in San Diego, CA. Famous Five: Favorite Book? – Good to Great What CEO do you follow? – Eric Schmidt Favorite online tool? — Mixmax Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Commit to a skillset early on in life" Time Stamped Show Notes: 01:45 – Nathan introduces Nick to the show 02:12 – Power Digital Marketing is a full-service digital agency 02:15 – Power Digital Marketing was created 4 years ago 02:18 – Nick has 2 other business partners who handle finances and team management 02:35 – Power Digital Marketing has 3 employees 02:40 – Power Digital Marketing's types of services described 03:15 – First year revenue was around $500K 03:33 – Power Digital Marketing has humble beginnings 03:50 – 2015 total revenue is $3.2M 03:57 – Estimate 2016 revenue is around $6M 04:10 – Power Digital Marketing typically has 6-month contracts 04:35 – Minimum amount per contract is $5K 04:43 – Retainers are at $50K a month 05:14 – Power Digital Marketing currently has 60 clients 05:25 – Average MRR 06:10 – 2017 revenue goal 06:35 – Power Digital Marketing and what they do for their clients 06:56 – Soccer Loco is one of Power Digital Marketing's clients 07:35 – SEO, organic rankings, paid ad initiatives are important for Soccer Loco 08:17 – Power Digital Marketing uses the keywords "cheap soccer cleats" for Soccer Loco intentionally 08:50 – Power Digital Marketing benefits well from link building 10:30 – Power Digital Marketing has PR professionals that build relationships with the clients 10:50 – Google now tracks backlinking and is reaching out to editors 11:43 – Power Digital Marketing relationship with SoccerNation.com 12:42 – "How do you find terms to target?" 12:47 – Do your due diligence 13:37 – Power Digital Marketing is currently in the process of developing their own page analytics software 14:20 – Connect with Nick on Twitter and email 16:35 – The Famous Five 3 Key Points: Creating content for SEO requires an understanding of the technicalities associated with backlinking. Track every campaign's effectivity as you step forward. Do your due diligence when it comes to finding the right terms and keywords that sell. 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 [email protected] – Nick's email address @Nick_Bjorn – Nick's Twitter handle Show Notes provided by Mallard Creatives
EP 519: GetAccept Hits $44k MRR, Helping 1100 Companies Get Deals Signed with CEO Samir Samjic
ESamir Smajic, one of the founders of GetAccept. GetAccept recently moved to San Francisco from Sweden because they are part of YC—a solution where you design, send, track, and market your proposals to get more deals digitally signed. Samir has a bunch of experience in project management, consulting, CRM, IT, computer software, business and more. Famous Five: Favorite Book? – Never Split the Difference What CEO do you follow? – N/A Favorite online tool? —Trello Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Doing whatever I felt good to do" Time Stamped Show Notes: 01:55 – Nathan introduces Samir to the show 02:25 – Samir chooses skiing over snowboarding 02:35 – GetAccept helps sales reps close more deals by focusing on their sales document workflow 02:58 – GetAccept is a subscription-based SaaS business 03:07 – Average pay per user is $40/month or $200 per business/month 03:42 – GetAccept currently has 1,100 paying customers and 4,400 free customers 04:15 – Average MRR is $44K 04:20 – GetAccept was launched in December of 2015 04:47 – GetAccept already had revenue their first month 05:31 – Samir shares why GetAccept has a high conversation rate from free to paying customers 06:00 – GetAccept calls their customers to give them product information and ask them questions 06:50 – GetAccept helps their customers send their first contract 07:17 – Fully weighted CAC 07:35 – Total headcount expenses 08:28 – GetAccept has 200 new customers monthly 08:47 – GetAccept has paid marketing 09:09 – Spending is around $4000 for paid ads 09:20 – GetAccept's biggest competitors explained 11:00 - Gross customer churn 12:00 – LTV 12:25 – GetAccept is currently based in San Francisco 12:49 – GetAccept had raised capital and is still open 14:20 – Samir's focus is the growth of the company 14:34 – GetAccept has 4 co-founders 14:42 – If DocuSign offered to buy your business, would you accept? 15:30 – Connect with Samir on LinkedIn 17:10 – The Famous Five 3 Key Points: Focus on what YOU can do for your customers – assist them in ANY way possible. Doing the work you love and enjoy is more important than the bottom dollar. Let your competitors motivate you to improve what YOU are doing. 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 LinkedIn – Samir's LinkedIn account Show Notes provided by Mallard Creatives
EP 518: See 20 deals, invest in 2 between $75k-150k pre seed, likes b2b saas for investments
EDinesh Kandanchatha. He's a founder, mentor, speaker, and above all, an entrepreneur. He encourages founders to ask all questions, navigate challenging decisions, and find the right answer that is sometimes difficult to face. He has bought, built, sold, lent, and/or invested in over 13 companies. Famous Five: Favorite Book? – Essentialism What CEO do you follow? – Steve Jobs Favorite online tool? — Asana Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Don't be the smartest guy" Time Stamped Show Notes: 01:48 – Nathan introduces Dinesh to the show 02:32 – Dinesh makes money by investing and capital gains against those investments 02:52 – Dinesh does consulting work too 03:45 – A board member's average retainers 04:33 – Dinesh total revenue as a credit investor in 2015 04:48 – A credit investor is someone who has net assets greater than $5M and earnings in the last 2 years that are greater than $200K 05:35 – Dinesh has built startups; some failed and some are successful 06:04 – Dinesh invests $75K to $150K in a company 06:14 – Dinesh often invests during Pre-Series A or Pre-seed 06:20 – Dinesh takes his capital and amplify it with his network and experience 07:08 – Dinesh's biggest failure happened right after he sold Precise Software Technologies in the late 90s 07:46 – The person that acquired Precise sued Dinesh 08:09 – Dinesh spent hundreds of thousands of dollars in legal battles 09:04 – Dinesh's most spectacular success is yet to come 09:20 – The business Dinesh is currently proud of 10:50 – Dinesh's equity rate in Protus IP Solution 11:10 – Dinesh has helped Macadamian technology scale up 12:03 – Dinesh has invested in real estate 12:30 – "If you get a few over the fence, you can make up all the difference" 12:45 – Dinesh usually sticks to B2B and SaaS 13:22 – Dinesh is currently working on Patriot One Technologies 14:49 – Dinesh is very passionate about the potential of technology 15:04 – Connect with Dinesh through Twitter and at Clarity.fm 17:27 – The Famous Five 3 Key Points: "If you get a few over the fence, you can make up all the difference"—so, don't get discouraged if you lose some. Do what you know and stick to your strengths. When you get an idea that could meaningfully impact the society as a whole—it will not just be an investment, but your baby. 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 @DineshAtWork – Dinesh's Twitter handle Clarity.fm/DineshkAtWork – Dinesh's Clarity account Show Notes provided by Mallard Creatives
EP 517: $3.5M Raised, 6m Users Helping 47k Customers Sign Documents with HelloSign CEO Joseph Walla
EJoseph Walla, CEO and co-founder of a San Francisco based startup, HelloSign. The company launched in 2012 and it provides the easiest way for businesses to sign and collect legally binding documents online. The idea behind HelloSign was sparked by Joseph's first successful product alongside his co-founder, Neil O'Mara, of HelloFax. HelloFax launched in 2010 after attending the prestigious startup accelerator Y Combinator. Famous Five: Favorite Book? – High Output Management What CEO do you follow? – Bill Walsh Favorite online tool? — Google Apps Do you get 8 hours of sleep?— Yes If you could let your 20-year old self, know one thing, what would it be? – Joseph wished he had moved to the valley earlier Time Stamped Show Notes: 01:40 – Nathan introduces Joseph to the show 02:30 – Joseph first worked in HelloFax which is an on-the-go fax machine 02:43 – HelloSign has premium products and free products 03:00 – Pricing plans starts at $15 03:12 – API pricing plans differs by bucket 03:40 – HelloSign is cash flow positive in 2014 and 2015 03:50 – Total of $3.5M raised 04:24 – Joseph has been very disciplined with how they spend their money 05:15 – 2016 MRR 05:36 – HelloSign has 47,000 paying customers 05:46 – HelloSign has a 5-6M user base 06:05 – People convert from free to paid because of the volume of their transactions 06:54 – HelloSign team's operation 07:30 – Average salaries in the valley 08:45 – Total headcount expenses with 16 employees 09:35 – Average MRR from Nathan 10:00 – Average customer churn 10:55 – HelloSign is mainly in the SMB space but they also have some big clients 12:20 – Standard gross churn 12:40 – The amount HelloSign is willing to spend for a new user 12:49 – HelloSign doesn't spend much for a new user, but spends for a new paid user 12:55 – Joseph read an article on ForEntrepreneurs.com about SaaS metrics and acquiring customers that was beneficial for him 13:35 – HelloSign's CAC ratio 14:53 – Connect with Joseph through LinkedIn and Twitter 16:23 – The Famous Five 3 Key Points: Don't wait for a job or overcomplicate the process of getting started—get out there and figure it out as you go. Make that investment to turn a new user into a paid new user. Don't just sit and wait for something to happen, take action! 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 @JosephWalla – Joseph's Twitter handle LinkedIn – Joseph's LinkedIn account Show Notes provided by Mallard Creatives
EP 516: SalesHacker $2.5m 2015 Revenue Helping Sales Reps Get Smarter with CEO Max Altshculer
EMax Altschuler, CEO of Sales Hacker – a rapidly growing media company focused on the future of B2B sales. Max wrote the book Hacking Sales: The Playbook for Building a High Velocity Sales Machine which was recently published by Wiley. Aside from sales hack and angel investors, Max advises startups all around the globe. Famous Five: Favorite Book? – The 48 Laws of Power What CEO do you follow? – N/A Favorite online tool? — Boomerang Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Max wished he could have studied Psychology a bit more Time Stamped Show Notes: 01:40 – Nathan introduces Max to the show 02:07 – Sales Hacker is a media company ushering the future of sales 02:35 – Sales Hacker does crowdsourcing of content on their blog and holds conferences throughout the year 03:12 – The conferences are Sales Hacker's main revenue stream 03:20 – Sales Hacker's last conference was in June 2016 04:09 – The sponsored revenue for the last conference was $1.2 M 04:14 – Ticket sales was $300-400K 04:22 – Average ticket price was $400-500 04:28 – Total attendees 04:41 – The cost per conference is less than $1M 04:53 – Max shares how they manage the cost of the conference 05:51 – You need to find venue sponsorship 05:57 – Max helps clients with bigger conferences like Pulse 07:00 – Sales Hacker finds out which businesses are interested in the conference 07:33 – Have prospective sponsors sign up and pay early 09:15 – Sales Hacker's average revenue per event depends on the event 10:54 – Sales Hacker takes a percentage from the total profit of SaaSters 11:30 – 2015 total revenue is $2.5M 11:45 – Team size 12:04 – Max shares why he didn't build a SaaS business 12:59 – Sales Hacker's list size 13:55 – Max's goal for a VC round 14:07 – Max is from Udemy 14:35 – Max had 2 companies before Udemy 15:20 – Max's second business was Last Call 15:45 – Max's 3 favorite investments at the moment 16:50 – The average amount Max is investing in a business 18:00 – Max sets expectations of what he will and will not do for a company 18:36 – Max is trying to invest in B2B companies 19:21 – Connect with Max through LinkedIn, Twitter and his website 21:30 – The Famous Five 3 Key Points: Closing a business does NOT mean it was a failure – you gain experience and learn valuable lessons from that process. Take the time to research and know where to invest. Even if you're working with SaaS businesses, that doesn't mean you should or can build one as well. 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 @MaxAlts – Max's Twitter handle LinkedIn – Max's LinkedIn account Sales Hacker – Max's business website Show Notes provided by Mallard Creatives
EP 515: 0 to $300k MRR in 16 Months Helping 300 ECommerce Brands Streamline with Skubana CEO Chad Rubin
EChad Rubin. He builds e-commerce businesses. He owns a direct consumer e-commerce business called Crucial Vacuum and grew it from zero to a $20 million valuation in 7 years. He happens to be a Top 250 Amazon Seller. He co-founded Skubana with DJ Kunovac and built one of e-commerce's hottest operational software. Skubana is the only software that you'll ever need to manage and accelerate the growth of your ecommerce business. It's beautiful, intelligent, and highly intuitive and it also incorporates every feature imaginable to drive your future success, especially in ecommerce. Famous Five: Favorite Book? – Virtual Freedom What CEO do you follow? – Gary Vaynerchuk Favorite online tool? — Trello or Asana Do you get 8 hours of sleep?— Yes If you could let your 20-year old self, know one thing, what would it be? – Go after passion and change a major in college Time Stamped Show Notes: 01:28 – Nathan introduces Chad to the show 02:17 – Chad shares how he made the zero to $20M valuation for Crucial Vacuum 03:48 – Chad shares what he thinks is Walmart's biggest mistake 04:27 – Skubana is making 50,000 orders a month 04:47 – Chad shares a mistake he made and how he lost money 05:08 – Chad had to minimize his headcount from 20 employees to 2 05:40 – Skubana is a SaaS business 06:00 – Number of customers that Skubana is currently serving 06:46 – Skubana's pricing: 07:07 – Minimum of $999 a month 07:10 – Pricing is customized and is based on users 07:34 – Average RPU 08:00 – MRR 08:05 – Skubana did a seed round 08:41 – Raised 880,000 on the first seed round 08:45 – Chad put in $1M 08:59 – James Thompson is one of Skubana's investors 09:43 – Chad messaged 10 people that he looked up himself to try and get them involved 10:10 – Chad starting building Skubana for 3 years and it just went live last year 10:29 – Chad raised the $880K when they had the prototype 11:15 – First year revenue 12:30 – Chad wanted Skubana to be available for everybody 12:40 – When Chad raised their pricing, a lot of their customers churned off 12:53 – Skubana is not an entry level software 13:27 – Chad individually called customers to inform them about the increase in pricing and they got emails too 14:12 – Most of Skubana's RPU growth is coming from new customers 14:27 – Chad shares how people find Skubana 14:48 – Chad wrote a book and hit #7 bestseller 15:22 – Chad has a subscription list from their blog because they're adding value 15:45 – Number of people on their list 16:22 – Skubana is pairing with other companies for a win-win sale 17:30 – Chad cares more about the quality of the customers as opposed to the quantity 18:05 – Chad shares about the successful webinars he held for certain companies 19:00 – Chad spends a lot of time guest blogging 19:25 – CAC is currently zero 21:20 – Team size 21:40 – Total overhead cost 22:00 – Team location is in NYC and New Jersey 22:10 – Chad is still thinking of raising another round 22:29 – Chad wants to raise $1M 23:30 – Connect with Chad through Youtube, Twitter and his email 25:10 – The Famous Five 3 Key Points: Mistakes happen for us to LEARN from it. Make your product KNOWN to the public at low costs by INCREASING your online presence. Need direction? Go hard after your passion! 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 Youtube – Chad's business Youtube channel [email protected] – Chad's email address @Ecommrenegade – Chad's Twitter handle Show Notes provided by Mallard Creatives
EP 514: $120M Raised, Helping 1m Consumers Get $100m+ In Credit Who Have No Other Choice with KreditTech CEO Alexander Graubner-Muller
EAlexander Graubner-Müller. He's the current CEO of Kreditech and started off as their CTO. He was a senior business development manager at Groupon and he was very active in the financial space such as an internship at Equity Derivatives in UBS. Alex is now in the Fintech space and running Kreditech. Famous Five: Favorite Book? – The Lean Startup What CEO do you follow? – Elon Musk Favorite online tool? — n/a Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? Spend more time learning how to manage and build companies Time Stamped Show Notes: 01:40 – Nathan introduces Alexander to the show 02:20 – Kreditech is an end-to-end consumer lending company 02:45 – Kreditech has a powerful rating data 03:05 – Alex shares what kind of credit score they'd assign to a customer as opposed to what a bank would 04:15 – Kreditech is focused on consumers 05:28 – Kreditech is a lending company 05:55 – Current total loans outstanding 06:23 – Most of the loans are short in maturity 07:08 – The kind of person Kreditech loans to 08:25 – Kreditech is growing fast—around 100% every year 08:50 – Kreditech made $40M in revenue in 2015 09:30 – Kreditech explains their interest rates 10:15 – Kreditech offers higher loans with lower rates for specific consumers 12:07 – Some people who apply for a loan won't usually be able to pay 12:33 – The fraction Kreditech will assume 15:17 – Total amount raised in funding rounds 16:40 – Loan origination 17:12 – Alex had to make sure to run the company on a fully-funded business plan 18:21 – Connect with Alex through LinkedIn, Twitter and his email 20:30 – The Famous Five 3 Key Points: You can always work your way up – just give your ALL and embrace your company. Lending companies are different from the banks, but both have their advantages and disadvantages. Learn how to manage your company; NOT just how to manage people, but how to have your people work to make it more profitable. 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 [email protected] – Alex' email address @AGraubnerMuller – Alex' Twitter handle Show Notes provided by Mallard Creatives
EP 513: $50M Raised, Helping 50k Customers Get Accurate Contact Data with FullContact CEO Bart Lorang
EBart Lorang, a proven entrepreneur executive and manager in the global technology industry. He's very active in the startup community as an angel investor, strategic advisor, and speaker at many industry events. In fact, he supports entrepreneurs in his co-founder position and is managing director at V1.vc, a $5 million dollar, seed-stage fund dedicated to help crazy entrepreneurs change the world. More importantly, he's an entrepreneur himself. He's currently running FullContact which is responsible for communicating its vision and strategy. He's a visionary technologist with extensive experience conceiving, designing, building, marketing, and selling enterprise software solutions on a global scale. Famous Five: Favorite Book? – The Hard Thing About Hard Things What CEO do you follow? – Warren Buffett Favorite online tool? – DocuSign Do you get 8 hours of sleep? – No If you could let your 20-year old self, know one thing, what would it be? – It's about how you make people feel. Time Stamped Show Notes: 01:40 – Nathan introduces Bart to the show 02:35 – FullContact is a universal contact management platform 02:50 – FullContact is a SaaS business and payment is based on the number of contacts 03:08 – Developers can pay for a developer platform 03:17 – The developer access is Bart's largest revenue stream 04:00 – FullContact is continually building new features 04:14 – FullContact also offers KPI services 04:37 – HubSpot uses FullContact 05:10 – FullContact was founded in 2010 05:30 – There is no application yet that is focused on contacts 06:01 – First year revenue 06:28 – Bart had a couple of businesses before FullContact 06:56 – FullContact was funded through raised capital 07:17 – How can someone look at that market and tell that it is too big to bootstrap? 07:53 – "It's all about the size of your vision and how fast you want to execute" 08:30 – FullContact has millions of customers 08:55 – FullContact has above 50,000 paying customers 09:03 – Bart shares what's included in the free plan and paid plan 09:40 – Average monthly RPU 10:05 – Bart discusses the type of individuals using FullContact 11:05 – Average MRR 11:40 – FullContact in ARR 12:54 – Gross customer churn 13:18 – FullContact has an inside sales team helping their customers 13:37 – CAC 14:20 – Team location: they have a global presence 14:30 – Team size: 210-220 14:40 – FullContact had their Series C last August 2016 15:08 – How are investors in this space thinking about the SaaS valuation? 15:47 – They are looking at the SaaS business' multipliers 16:00 – FullContact's main competitors 16:35 – The MDM space 16:49 – Connect with Bart through FullContact and his email 18:18 – The Famous Five 3 Key Points: Analyze your business well and have a goal so you know where you're going to start. Funding is a very important part of business. It's NOT about how smart you are but how you make people feel. 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 [email protected] – Bart's email address Show Notes provided by Mallard Creatives
EP 512: $70M ARR B2B SaaS with DiscoverOrg CEO Henry Schuck
EHenry Schuck, CEO of DiscoverOrg. He's a leading entrepreneur in sales intelligence and lead generation. Under his leadership, DiscoverOrg built the industry's most accurate, highest quality, contact database through a mix of technology and a team of live researchers who continually call into thousands of IT, marketing, HR, and finance departments. Famous Five: Favorite Book? – Good Boss, Bad Boss What CEO do you follow? – N/A Favorite online tool? — Gmail Do you get 8 hours of sleep?— I do If you could let your 20-year old self, know one thing, what would it be? – "Work harder than you could ever imagine working" Time Stamped Show Notes: 01:40 – Nathan introduces Henry to the show 02:13 – DiscoverOrg provides deep intelligence on the company and the contact information of buyers of 60,000 companies worldwide 02:38 – DiscoverOrg is selling the data on a subscription basis 03:09 – Henry worked for a company similar to DiscoverOrg when he was an undergrad 03:28 – Henry's colleague asked him to build a similar company which is now DiscoverOrg 04:04 – Henry's acquired iProfile 04:40 – DiscoverOrg is owned by TA Associates 04:58 – DiscoverOrg was self-funded in annual contract value in 2014 05:56 – Henry was approached by different private equity firms in 2012-2014 06:26 – Henry shares the reason why they chose TA Associates 07:45 – Customers pay annual access to the platform which is a SaaS platform and they pay for specific data 08:22 – Average annual RPU 08:46 – Average ARR 09:20 – How Henry manages churn 10:46 – CAC 11:16 – Henry and his team are based in Vancouver, Washington 11:27 – Team size is 315 11:40 – Lifetime value 11:55 – Customers stay with DiscoverOrg for 3-4 years 12:23 – What keeps you motivated in doing this? 12:30 – Henry has a 6 month old daughter and he wants her to see that he works hard, he also wants to make it a success for TA 13:29 – Connect with Henry through LinkedIn and Twitter 15:27 – Annual renewal rate is over 90% 15:46 – DiscoverOrg is continually building new data 16:00 – The Famous Five 3 Key Points: Teach users not only how to use a platform, but how to utilize it to INCREASE their revenue. Have a business that is profitable. Work harder than you could ever imagine working, that's where you add value. 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 @HenryLSchuck – Henry's Twitter handle LinkedIn – Henry's LinkedIn account Show Notes provided by Mallard Creatives
EP 511: How to Pivot $50K MRR SaaS Company with Ian Cullen CEO of Leadiro
EIan Cullen, a demand generation expert and the co-founder of Leadiro, an account-centric data platform designed to enable account based marketing and sales development efforts at named accounts. Ian was previously the co-founder of Internal Results, which was acquired by Madison Logic in May 2016. He started his first business, Target 250 in 2001, grew it to a team of 130 staff and it was a leading B2B technology based, lead generation company which was sold in 2010. Famous Five: Favorite Book? – The Magic of Thinking Big What CEO do you follow – N/A Favorite online tool? — SimilarWeb Do you get 8 hours of sleep?— Yes If you could let your 20-year old self, know one thing, what would it be? – "Work hard because nothing happens overnight and if you really focus and you can achieve anything" Time Stamped Show Notes: 01:37 – Nathan introduces Ian to the show 02:25 – Ian says he sold Target 250 for simply "not enough" 02:35 – Ian received investments from bench capitalists for Target 250 02:48 – After 6 months, Ian sold with a soft landing 03:19 – One year, non-compete, Ian set up an another company and sold it 03:48 – Chris is a partner and cofounder of Leadiro 03:57 – What Leadiro does and how they make money 04:00 – New startup, four months old, Leadiro is a B2b service platform that offers account-based marketing 05:19 – You can send cold emails to leads that are relevant 05:41 – Customers pay monthly or quarterly basis 05:55 – Average customer pays $ 20,000-40,000 per year but can be much higher, $ 6-10,000 per month depending on customer's volume 07:00 – Launched July 2016 07:06 – Serving under 20 customers 07:29 – Customers are people we know in the industry 07:57 – Our customers are people that are launching certain products into the market to a specific audience 08:25 – Do they need help in reaching out to a larger audience as opposed to their first party list of possible customers? 08:35 – Why are people buying your data instead of others? 08:41 – Our platform is proprietary, easy to use 08:59 – "You can upload a list of domains within 10 seconds [of using our product] and pull out a specific audience within those accounts" and get their email addresses 09:12 – For example, there are 200 companies you want to target, upload that to our platform, and you have a list of everyone who works in those companies (job title, level, function), and can select what you want 09:52 – Very common product, that people that win are those who market better 10:18 – Like Siftery, but Siftery doesn't get you the leads 10:53 – Leadiro's current revenue: $50,000 11:06 – Leadiro is self-funded 11:09 – Ian does not want to raise 11:19 – Team size: 6 people 11:31 – Hired people to develop full-time, remote, in New Zealand 11:56 – 3 in UK, 1 in Ireland, 2 in NZ 12:56 – 50,000 in MR divided by 20 customers = Monthly RPU: $2500 per customer 13:11 – Early cancellations, because they're in a learning stage 13:25 – One big struggle with this particular product—companies can download everything they need and leave 13:46 – Nathan wonders if these types of companies are SaaS companies or should there be a one-time fee where customers get what they need and leave? 13:55 – Something they are still working out, perhaps a 1-2 month subscription 14:22 – Discussion of competitors and who is doing the same thing well 15:21 – To connect with Ian, go to his LinkedIn 16:53 – The Famous Five 3 Key Points: Always think of how your product sets you apart from your competitors and SELL to that strength. A startup and any business for that matter is a work in progress—just keep at it. Work hard, focus in on your task, and you can achieve ANYTHING. 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 @Qwil – Johnny's business Twitter handle Blog - Johnny's business blog site Qwil.co – Johnny's business website Show Notes provided by Mallard Creatives
EP 510: HubDoc Hits $132k MRR, 1200 Customers, $2M Raised to Help You Accountants Manage Their Documents with CEO Yoseph West
EYoseph West. He dreams of a world where accountants and bookkeepers never have to ask their clients for documents—that's why he joined HubDoc to lead growth. He previously co-founded Vuru, a stock analytics platform for retail investors and led it into its acquisition by Wave Accounting in 2012. Listen as Yoseph shares his experience with Vuru's acquisition and how he ended up now with HubDoc. Famous Five: Favorite Book? – The Hard Thing About Hard Things What CEO do you follow? – William Rockefeller Favorite online tool? — Text Expander Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – Stay patient Time Stamped Show Notes: 01:34 – Nathan introduces Yoseph to the show 02:10 – Yoseph co-founded Vuru to make investing easier 02:33 – Vuru was making money off ads, they then supposedly reached out to Wave Accounting 03:15 – The acquisition was a soft landing 03:36 – "All of us want to work with people that we're excited about" 04:29 – Yoseph and his team got a little excited as they talked more with angel investors 04:50 – Vuru was having a fundraising 05:30 – HubDoc offers SMBs a cloud accounting space 05:42 – There's a movement to make accounting space invisible 06:13 – There's a big shift in the accounting industry 06:40 – HubDoc has a feature similar to how bills and other documents are being consolidated in a bank 07:04 – HubDoc has over 700 web scrapers 07:50 – Business owners won't be bombarded with reminder emails from their accountants and bookkeepers using HubDoc 08:25 – HubDoc was re-launched in early 2014 08:55 – Number of HubDoc's paying customers 09:28 – HubDoc caters to bookkeepers and accountants who then add all their clients 10:40 – Average monthly RPU 11:20 – MRR 12:00 – CAC is quite low 12:18 – Customers stay for approximately 32 months 12:30 – Gross monthly churn is usually negative 12:40 – Bookkeepers are always continually adding new clients 13:45 – Lifetime value 14:10 – Team size is 22 14:27 – The Australian market is 3-5 times ahead of the American market 14:40 – HubDoc has raised capital 15:00 – The funding market in Toronto described 15:40 – 2017 revenue goal 16:49 – Follow Yoseph on Twitter and HubDoc is looking for content marketers and other marketing people so touch base if you're interested 19:00 – The Famous Five 3 Key Points: The future of accounting and bookkeeping is far better with technology; it's much faster and paperless. Acquisition is sometimes painful but there are always new opportunities ahead. Stay patient AND optimize for learning—there's time to learn and grow. 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 @YcWest – Yoseph's Twitter handle Show Notes provided by Mallard Creatives
EP 509: 21 Year Old Invests $500k To Re-Invent Webinars with Demio CEO Wyatt Jozwowski
EWyatt Jozwowzki, co-founder and CEO of Demio, a smart, webinar platform on a simple mission. He's passionate about creating a great customer and user experience. Listen as Wyatt shares about Demio; from its inception to a Wyatt creating a working, webinar platform that is earning a revenue from only a few days on the market. Famous Five: Favorite Book? – The Hard Thing About Hard Things What CEO do you follow? – Jason Lemkin Favorite online tool? — Clarity.fm Do you get 8 hours of sleep?— seven to eight hours If you could let your 20-year old self, know one thing, what would it be? – "That it was going to be 10 times harder than I thought" Time Stamped Show Notes: 01:42 – Nathan introduces Wyatt to the show 02:08 – Demio is a web-based webinar platform built for marketing 02:18 – "We wanted to create a webinar platform that is actually easy and ready to use" 02:35 – Demio was just launched in November 9th of this year 02:54 – Wyatt has a company called Drip Apps as well 03:12 – Demio is the biggest software project that Wyatt has ever taken on 03:15 – Wyatt has been working with Demio for 2 years now 03:28 – Demio was in free beta for 3-4 months 03:38 – People used Demio for their webinars for free 03:48 – This was done to test Demio's reliability and performance 04:02 – Wyatt wants simplicity to be Demio's platform 04:51 – Wyatt has invested about half of million on Demio 04:48 – Demio has a team of 3 developers, 1 designer, and 1 QA manager 05:40 – Some of the team members are from Upwork and other online job postings 06:21 – Wyatt got his funding from Drip Apps' revenue 06:53 – Wyatt got the idea of Demio from a suggestion 07:30 – First software project of Wyatt's was a video ranking platform 07:45 – Drip Apps has Drip Core which has a $47/month subscription 08:09 – 470 users have signed-up 08:23 – Drip Apps was launched 3 years ago 08:53 – Drip Apps' 2015 revenue 09:15 – Drip Apps runs independently of Wyatt, freeing him up to work on Demio 09:52 – Demio was not really planned 10:20 – Nathan refers to Episode 252 and how Wyatt reminds him of Omar of Webinar Ninja 10:38 – Demio already has paying customers 10:46 – Demio is a SaaS business model and they currently have discounted annual pricing 10:59 – On launch day, Demio's price range was from $237 a year to $497 a year 11:08 – Price range increased on November 16th 12:20 – Wyatt's strategy for Demio 13:10 – Having a webinar is not that easy and is very challenging 13:40 – Demio is web-based and does not require any desktop software to be installed 13:42 – Wyatt is currently focused on expanding browser and mobile support 14:05 – There are a number of unique customers that have signed-up 14:30 – There are customers who have asked for refunds 15:49 – Connect with Wyatt through Twitter 17:20 – The Famous Five 3 Key Points: There are huge challenges in the tech industry, but it's definitely worth it to keep pressing on. Streaming in real-time is one of the most difficult things to achieve in a webinar. Be consistent in working out those hurdles and challenges. 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 @WyattJawz – Wyatt's Twitter handle Upwork – Where Wyatt found his team members Show Notes provided by Mallard Creatives
EP 508: Siftery $4M Raised, 25,000 Users to Help You Find Software Tools with CMO Gerry Golyer
EGerry Colyer, head of growth at Siftery. He was previously the VP of growth at HealthSherpa and co-founder of two startups. He's a graduate of Yale and Stanford. The CEO of Siftery was convinced there was a better way for companies to discover, select, and make better use of their software and so began their journey into filling this particular need in the market. Famous Five: Favorite Book? – Hooked What CEO do you follow? – Elon Musk Favorite online tool? — Buffer Do you get 8 hours of sleep?— Not quite If you could let your 20-year old self, know one thing, what would it be? – Gerry wish he had studied more in Computer Science Time Stamped Show Notes: 01:32 – Nathan introduces Gerry to the show 02:11 – Gerry's 500 company is Central Mayoreo 02:57 – Siftery helps users discover and choose the right software to reach their needs 03:20 – Siftery is currently tracking 10,000 software programs 03:30 – Siftery gets data from their recommendation engines 03:57 – Siftery has a small team in SF 04:11 – Siftery has 30 team members in Bangalore and Kiev 05:24 – How Siftery collects data 05:59 – There's a combination of data scraping from the web and getting recommendations from actual software users 06:48 – Siftery is trying to create tools for software buyers 08:10 – Siftery has no pricing model yet and currently free 09:13 – Monthly headcount expenses 10:00 – Advantages of having a development team in Bangalore 10:12 – Cost of living is Bangalore lower than in SF 11:00 – What number are you focused on every day? 11:11 – Data points being contributed in the community 11:31 – Number of vendors engaged in the platform 12:00 – Launched earlier in 2016 12:30 – Siftery is more powerful than Techcrunch 13:00 – How are you able to get updates so quickly? 13:05 – We get feedback from software reviews, friends in the 500, and other software owners 13:43 – 25 data contributors 14:00 – Utility metric 15:15 – Siftery's target area 15:50 – Connect with Gerry through email, Twitter and Siftery 18:05 – The Famous Five 3 Key Points: Meet people and build connections or, better yet, build companies. There are opportunities in the B2B space—find the gap and fill it. Having a team in another country can help startups build their business at a lower cost but still maintain the quality of work. 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 [email protected] – Gerry's email address @Ggiaco – Gerry's Twitter handle Siftery.com – Gerry's company website Show Notes provided by Mallard Creatives
EP 507: $300k Raised, ChatBot Helps Your Audience Talk To You and Get Answer with CEO Abhimanyu Godara
EAbhimanyu Godara, founder and CEO of BOTTR.me. He previously managed portfolio investments at TLabs where he worked with over 40 startups around strategies and things similar to that. He's very well educated and now sitting on a platform that he thinks is going to be very exciting for him coming up. Famous Five: Favorite Book? – Zero to One What CEO do you follow? – Steve Jobs Favorite online tool? — Trello Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "The world doesn't work the way you want it to work" Time Stamped Show Notes: 01:31 – Nathan introduces Abhimanyu to the show 02:08 – BOTTR is a personal bot platform that one can converse with to ask questions they'd essentially want to be asking you (ex. How much for your services? When is the next podcast coming out?) 03:01 – BOTTR is like a personal assistant or replica of someone 03:09 – BOTTR is currently focused on influencers and celebrities 04:10 – BOTTR's current business model 05:05 – Still validating the potential of the business 05:40 – BOTTR currently has 250 paying customers 06:40 – BOTTR's next version will have all the data pre-filled for every user 06:58 – BOTTR will gather information from social media channels like LinkedIn 07:34 – BOTTR can make you save time because now you do not need to address every question that comes up in email as it can already answer most questions 07:44 – BOTTR had a funding round 08:25 – Current team size is 7-10 09:35 – Abhimanyu shares how users of BOTTR can get paid 10:00 – There are bloggers who have already reached out to BOTTR 11:15 – BOTTR is an ecommerce product to find information and services 12:16 – Connect with Abhimanyu through BOTTR.me/Abhimanyu 13:55 – The Famous Five 3 Key Points: Create something that is DIFFERENT in your space. Performing a pre-launch can help you gauge what you still need to improve upon. What you plan to do won't always work – ALWAYS have a plan B. 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 BOTTR.me/Abhimanyu – Abhimanyu's BOTTR account Show Notes provided by Mallard Creatives
EP 506: Klipfolio $7.9M Raised, 7000 Customers for Smarter Business Dashboards with CEO Allan Wille
EAllan Wille, co-founder and CEO of Klipfolio – a SaaS dashboard company headquartered in Ottawa. He's focused on making it easier and faster for SMBs (small to medium businesses) to monitor the health and performance of their businesses and they're taking an interesting approach. It is self-served, in the cloud, right to business users, eliminating them the need to work with IT procurement or make huge upfront investments. He has over 59,000 customers including Jet.com, Zendesk and Lifelock just to name a few. They also have the funding to back them. Famous Five: Favorite Book? – Good to Great What CEO do you follow? – N/A Favorite online tool? — Mixpad Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "I should have spent more time understanding people" Time Stamped Show Notes: 01:31 – Nathan introduces to the show 02:15 – Klipfolio is focused on SMBs or businesses that really want to grow 02:36 – There's a lot of difficult data a SMB just doesn't monitor 03:09 – Klipfolio helps SMBs monitor their business to make the best decisions 03:28 – Klipfolio is 100% SaaS and a subscription based business 03:35 – Average customer pays per month $70-80 03:57 – Klipfolio does not have outbound sales people 04:34 – Klipfolio is serving 7,000 customers for November 2016 04:57 – Average MRR 05:07 – Customers can start Klipfolio with payments as low as $24 a month 05:40 – Klipfolio was launched in 2001 05:56 – The cloud version was launched in 2012 06:03 – "We're always into monitoring real-time data" 06:30 – Klipfolio started out bootstrapped 07:06 – By the end of 2012, Klipfolio had 350 customers 07:12 – In the end of 2013, Klipfolio had 1,100 customers 07:54 – Klipfolio had their first seed round at the end of 2014 08:02 – Klipfolio did their Series A at the beginning of 2015 with a $6.2M 08:55 – Klipfolio is continuously raising capital 09:05 – Team size is 70 10:03 – Klipfolio is currently on Series B 10:55 – Allan thinks that they are in a good space 11:16 – SMB is a good field market for Klipfolio 11:50 – Allan shares why he thinks Dasheroo didn't do well in the dashboard space 13:30 – Allan shares his thoughts on their competitors 14:10 – Gross monthly customer churn 15:45 – CAC 16:00 – Lifetime value 16:46 – Klipfolio does webinars to educate their customers on their data 17:30 – 2016 revenue goal 18:22 – Connect with Allan through Twitter and his blog 20:30 – The Famous Five 3 Key Points: Focus on the needs of your customer in running their business AND be a part of their growth. It's important for businesses to have an editor or someone who can handle things that need to be customized. Spend more time understanding people, especially how they work in a team. 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 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 @Awille – Allan's Twitter handle Klipfolio.com/Blog – Allan's blog site Show Notes provided by Mallard Creatives
EP 505: Qwil.co Pre-Pays Contractors/Freelancers $10M in 2016 with CEO Johnny Reinsch
EJohnny Reinsch of Qwil which is a company that provides instant pay for the growing freelancer segment of the work force. He's the co-founder and CEO and also a cryptocurrency nerd. Listen as Johnny shares how he shifted his career path and why Qwil is different from most startups. Famous Five: Favorite Book? – Zero to One What CEO do you follow? – Elon Musk Favorite online tool? — Toptal Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "I didn't have to go to law school" Time Stamped Show Notes: 01:24 – Nathan introduces Johnny to the show 01:57 – Johnny got tired of making rich people richer so he started his own startup 02:28 – Johnny shares his learnings from the cryptocurrency company 02:50 – Qwil helps freelancers collect their pay on time 03:21 – Qwil has a low price point 03:40 – Qwil is a transactional based model 04:05 – Qwil started summer of 2015 04:20 – First year total transaction volume is in low seven figures 04:51 – Target transaction volume for 2016 05:05 – Qwil's funding rounds 05:45 – It is an equitable note 06:07 – "We are not disclosing a round at the moment" 07:20 – 2016 total transaction volume 07:40 – Qwil has a similar metric with GMD 08:51 – Some freelancers won't release their payment right away 09:35 – If freelancers keep their money in Qwil for 30 days, they won't be charged any fees 09:50 – Qwil can't touch the cash of the freelancers 11:30 – Qwil offers conveniences to the users 13:28 – Profit margin base 13:44 – Team size 14:10 – Number of contractors who have used Qwil is in the thousands 15:21 – "We are trying to make a freelancer's lifestyle much easier than it currently is" 17:10 – Connect with Johnny through his website, blog, and Twitter 18:50 – The Famous Five 3 Key Points: Be sure to USE and APPLY what you learned well. Be in a unique niche where competition is not very tough. School does NOT always lead you to your future, don't let it narrow your scope. 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 @Qwil – Johnny's business Twitter handle Blog - Johnny's business Twitter handle Qwil.co – Johnny's business website Show Notes provided by Mallard Creatives
EP 504: MailPlaneApp 10,000+ Customers With BetterGmail with CEO Lars Steiger
ELars Steiger, the co-founder of Mailplane. Nathan found Lars when he was searching in the Gmail space. Listen as Lars shares how he ended up managing Mailplane solo and the reason why he would never sell is company. Famous Five: Favorite Book? – N/A What CEO do you follow? – Jason Fried Favorite online tool? — Basecamp Do you get 8 hours of sleep?— Yes If you could let your 20-year old self, know one thing, what would it be? – "Stay calm" Time Stamped Show Notes: 01:38 – Nathan introduces Lars to the show 02:05 – Mailplane started as GmailSender in 2006, which was then an iPhoto plugin 02:28 – Mailplane was founded by Ruben, Lars joined in 2007 02:53 – Lars has an equity now with Mailplane 03:15 – Customers are more important for Mailplane 03:33 – Mailplane has an average of 10,000 customers 03:52 – Mailplane offers a 15 day free trial 04:17 – 5,000 users a month try the free trial 04:40 – Mailplane relies mostly on organic traffic 05:00 – Mailplane is a one-time purchase business model 05:30 – 10,000 people from Mailplane's email list have tried the free trial 05:57 – Lars does the coding for Mailplane 06:15 – Lars uses business development tactics from time-to-time 06:30 – Mailplane is completely bootstrapped 06:53 – Average revenue in 2007 07:40 – Ruben joined Evernote and left Mailplane to Lars in 2012 08:24 – Lars' goal for Mailplane 09:36 – How much will make Lars sell Mailplane? 10:37 – Lars won't sell Mailplane because of the customers 11:17 – The most important number for Mailplane is the number of users who are downloading updates 12:25 – Connect with Lars through his email and Mailplane 14:25 – The Famous Five 3 Key Points: Value and show appreciation to your customers, working to better address their needs. Sometimes, there's just no amount that can compensate for the hard work an entrepreneur has put into his business. Stay CALM, nothing to be gained by choosing the alternative. 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 MailPlaneApp.com – Lars' business website [email protected] – Lars' email address Show Notes provided by Mallard Creatives
EP 503: $125k for 5%, How To Grow Into $2m+ Valuation with InDemand CEO Alex Saidani
EAlex Saidani, founder and CEO of Indemand. Alex is a developer who started coding at the age of 11. He started his first business at the age of 13 and was the youngest founder of a team to participate in the DotForge accelerator program with Hashtrack. Indemand supports businesses with providing online ordering software and an hourly delivery network. On top of this, Alex also finds time to mentor people in their start-ups and provide them with the necessary support. Famous Five: Favorite Book? – Steve Jobs Biography What CEO do you follow? – Elon Musk Favorite online tool? — N/A Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Don't waste time pursuing people who are not going to help you or create value" Time Stamped Show Notes: 01:25 – Nathan introduces Alex to the show 01:52 – Alex went to the 500 startups program 02:12 – Indemand sells software to groceries and other retail stores 02:25 – Indemand charges the stores directly 02:36 – Indemand is a SaaS business 02:52 – Indemand started in 2015 03:14 – First year revenue 03:38 – Indemand's usual customers 04:15 – Indemand has worked with 150 companies and there are 25 active customers 04:28 – Most of the inactive customers are startups 05:04 – Indemand had to increase their fees to make money 05:10 – ARPU per month is around $250 05:22 – MRR 05:55 – October 2016 revenue was $25,000 06:45 – What do people get when they pay $400 a month? 06:51 – help with start-up, customize branding, end up with a customer facing application 07:14 – Users get to monitor all the orders in real-time 07:40 – Total transaction volume in October 2016, is around 200 orders 08:20 – Indemand had a capital raising 10:30 – Indemand's other expenses 10:46 – Indemand sources people from Fiverr to find information 12:00 – Alex and his team are based in California 12:18 – Connect with Alex through his LinkedIn and email 13:51 – The Famous Five 3 Key Points: An entrepreneur can start as early as 13 years old—you're never too young or old for that matter! Raising fees is often necessary to meet your clients' demands and update your services. Don't waste your time on "non-value creating" people. 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 LinkedIn – Alex's LinkedIn account [email protected] – Alex's email address Show Notes provided by Mallard Creatives
EP 502: 30% Annual Yield AirBNB Investing with Andrew Keene
EAndrew Keene, president and CEO of AlphaShark Trading which is originally founded as KeeneOnTheMarket.com in 2011. Prior to that, he grew up working as a proprietary trader at Chicago Board Options Exchange. He began his career on a trade program and would eventually co-found the KATL group. He currently actively trades future equity options, currency options present in commodities, and was a regular guest/market commentator on such networks as Bloomberg, CNBC and Fox Business. His first love will always be trading but he's arguably even more well-known for building a trading room. He is especially proud of having taught his personal strategies trading for over 50,000 guests for years. Famous Five: Favorite Book? – Automatic Customer What CEO do you follow? – Elon Musk Favorite online tool? — N/A Do you get 8 hours of sleep? — No If you could let your 20-year old self, know one thing, what would it be? – "Not to date a girl for 8 years and be engaged" Time Stamped Show Notes: 01:38 – Nathan introduces Andrew to the show 02:32 – Andrew is based in Austin and San Diego 03:17 – Andrew is part of Entrepreneur Organization 03:55 – Andrew purchased a place in San Diego and put it on Airbnb 05:18 – "This year I expect to make $20,000 from that $70,000 investment" 06:24 – Andrew wants to get the "Super Host" status on Airbnb 06:33 – Airbnb advertises Super Host's properties more 06:53 – Andrew looks at Airbnb hosting as an investment 07:25 – The risk of having your properties in Airbnb 07:31 – Stand-alone is not covered by HOA 07:48 – HOA wants to ban short-term rentals in San Diego 08:10 – Hosts can take advantage of their cash-flow situation 08:50 – Andrew has made $5M from trading 09:30 – Andrew shares how he got into trading 10:32 – Andrew has a place in Chicago, too 10:38 – Andrew is making around $8,000 a year for his place in Chicago 11:16 – Andrew is starting his second deal 11:41 – People ask Andrew how he makes money through the investment 12:04 – Andrew is working on a book with Airbnb 12:11 – AirBNBopen in LA 12:25 – There are around 7,000 people who paid Andrew for trading information 12:35 – Andrew has more than 50,0000 people in his email list 13:09 – Andrew shares how his cash flow works with his property in San Diego 13:45 – Andrew names software that he uses other than Revestor 13:50 – AirDNA is where you can buy reports of any city 14:23 – Mashvisor use to search for rental properties 14:45 – You can use analytics and research by Revestor to get into the market 15:50 – Standard percentage for payment fees 16:30 – Nathan makes an offer to Andrew 17:55 – Email Andrew to connect with him 20:05 – The Famous Five 3 Key Points: Find the right investment and STUDY it as best as you can. Go to someone who is an expert in a market that you want to be in. Stay independent as long as you can. 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 [email protected] – Andrew's email address Show Notes provided by Mallard Creatives
EP 501: Track Uninstalls with $325k in Funding, 15 Customers, with CEO Pritesh Vora of Uninstall.io
EPritesh Vora. He has over 10 years of experience specializing in building and growing innovative technology products. He was a formerly a partner at 1000Lookz and the business head at NotiPhi. He has also worked at TCS, one of India's biggest IT service companies across US, Europe and India. He has a Bachelor in Technology from MSIT. Famous Five: Favorite Book? – Zero to One What CEO do you follow? – Elon Musk Favorite online tool? — Buffer Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Definitely, knew more about how to see the business" Time Stamped Show Notes: 01:22 – Nathan introduces Pritesh to the show 02:10 – Uninstall.io is Pritesh's current company 02:14 – Uninstall.io is a niche analytics company 02:40 – Uninstall.io provides analytics to popular mobile apps 02:50 – Uninstall.io is a SaaS business with monthly subscription and fees depending on the number of users and modules 03:02 – Average pay per customer is $100,000 a month 03:11 – Uninstall.io was launched in 2015 03:22 – Uninstall.io was bootstrapped for the first 6-8 months and raised $365K 03:50 – Uninstall.io is currently serving more than 150 apps 04:36 – ARR is currently $100K 04:48 – MRR is around $10K 05:00 – Uninstall.io currently has 15-17 customers 05:23 – Pritesh shares why companies leave after just a few months 06:37 – Pritesh and his team are still working on how to make customers stay 08:30 – Pritesh and his team are learning more about their customers' needs and data so that Uninstall.io can become indispensable to them 09:00 – People have a typical analytic scheme in their company 09:25 – Uninstall.io has 10 people on their team 09:44 – Uninstall.io is using shared resources to take the data from each account 10:00 – Average CAC 10:38 – Average monthly salary 11:12 – Pritesh and his team are based in India 12:00 – Lifetime value 12:47 – Pritesh still has around $150K in the bank 13:02 – Pritesh is currently spending $20,000 for the expenses 13:40 – 2015 revenue is around $45,000 14:12 – Connect with Pritesh through his Twitter, website and blog 15:55 – The Famous Five 3 Key Points: Work to know your niche and target market on a deeper level. Having a business is a continuous experiment—it's how one learns and adapts. Focus on your team first and look after them well. 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 @PriteshVora – Pritesh's Twitter handle Uninstall.io – Pritesh's business website Blog.Uninstall.io- Pritesh's blog site Show Notes provided by Mallard Creatives
EP 500: $5M Funding, $1.3M Revenue For LGBT Lifestyle Traveling like AirBNB with CEO Matthieu Jost
EMatthieu Jost, who founded his first company when he was 17 and exited it when he was 21. Most recently, he started Misterb&b in 2015 and has become the world's largest gay hotel brand in the world. Listen as Matthieu shares how he managed his first business at an early age and how Misterb&b grew exponentially in less than 4 years. Famous Five: Favorite Book? – N/A What CEO do you follow? – Brian Chesky Favorite online tool? — RJ Metrics Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Being less naïve maybe" Time Stamped Show Notes: 01:31 – Nathan introduces Matthieu to the show 02:00 – Matthieu's first company that posted TV series was sold to PlanetSeries (French equivalent of IMDB) for about $1 million 02:33 – The team composed of 4 people 02:53 – The company sold series' merchandise 03:18 – Matthieu built the company 03:38 – Matthieu studied Computer Science for two years to work in a radio station 04:38 – Matthieu shares how Misterb&b is different from Airbnb 05:00 – Misterb&b is a marketplace 05:25 – The sellers are the homeowners 05:36 – "It's not only for gay men, we are open to everyone in the LGBT community" 05:45 – There are straight women using Misterb&b because they find it cool and much safer 06:10 – Misterb&b is taking 4% from the host and 12% from the traveler 06:27 – Average booking for 3 nights is $300 06:40 – Misterb&b was founded at the last quarter of 2014 06:50 – Misterb&b was bootstrapped for 6 months and went on raising capital 07:02 – Total funds raised was $5 million 07:10 – Team size is 22 07:44 – Currently, there are 80,000 hosts in Misterb&b in over 135 countries 08:00 – Misterb&b has an average of 80,000 bookings per month 08:22 – Most of the travelers are solo travelers 09:16 – First year total transaction volume is 300K 09:35 – Total transaction volume for 2015 is $3M and 2016 total transaction volume goal is $7M 09:58 – Misterb&b is seasonal 11:00 – Misterb&b's 2015 average revenue is $480,000 11:12 – Misterb&b's 2016 revenue aim is $1.3 million 11:24 – Misterb&b is working on different types of ads 12:05 – There are around 300K people on Misterb&b's email list 12:12 – Average opening click-thru rate is 14% 12:50 – People are paying Misterb&b a flat-rate and they are getting 15,000 clicks 13:00 – Misterb&b also works with non-media companies 13:46 – 40% of Misterb&b's travelers are repeaters 14:28 – Follow Matthieu's company on Facebook and visit the website 16:33 – The Famous Five 17:16 – RJ Metrics was at The Top Episode 233 3 Key Points: It is always advantageous to start your business as EARLY as possible. Life is about making a choice; don't be afraid to step out and make that decision. Misterb&b is about building a worldwide community that promotes safe travel without discrimination. 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 Facebook – Matthieu's business Facebook account Misterbandb.com – Matthieu's business website Show Notes provided by Mallard Creatives
EP 499: GetSignEasy Passes $200k MRR and 130k Customers To Help Sign Documents withCEO Sunil Patro
ESunil Patro, founder of SignEasy, a technologist, product thinker and entrepreneur. He has a decade of experience as a member of multiple early stage product team at Microsoft, Juniper Networks and Tokbox. Putting enterprise communication apps to carrier great routing system to consumer focused video conferencing software. After facing many problems to sign an important job offer while traveling in Mexico, he was inspired to build a product that could solve this hindrance. Since bootstrapping SignEasy in 2010, he led SignEasy to a growing and profitable company that putting 3M downloads with a 5-star rating in over 150 countries, ranked 1 of the top 15 apps and in top 100 downloaded apps for business including Apple's Best New Apps and Editor Choice Picks. Famous Five: Favorite Book? – Crucial Conversations What CEO do you follow? – Jason Fried Favorite online tool? — Slack Do you get 8 hours of sleep?— Not everyday If you could let your 20-year old self, know one thing, what would it be? – "Just focus on being part of a great team and focus on learning things rapidly and just have an experience. Find the things you enjoy the most at work" Time Stamped Show Notes: 01:32 – Nathan introduces Sunil to the show 02:33 – SignEasy is a cloud-based easy to use app 02:50 – SignEasy allows users to be completely paperless 03:00 – SignEasy is a SaaS model and has a free trial for 14 days 03:12 – Pay-as-you-go is also available 03:17 – Businesses can subscribe to pro and premium plans 03:34 – Sunil started coding SignEasy in early 2010 and launched around July 2010 03:35 – First year revenue 04:02 – Current number of customers in 2016 04:20 – 40-45% are on subscriptions and the rest are on one-time payment 04:33 – Average monthly RPU is $ 4 – 5 for pro and 80-90% are pro subscriptions 05:09 – Average monthly recurring revenue for SignEasy 05:58 – The difference of their payment plans before and now and how it affects their MRR 06:41 – SignEasy has grown high double digit over the last few years 07:07 – SignEasy is totally bootstrapped 07:25 – Team size 08:00 – Sunil is based in the bay area 08:52 – Gross monthly customer churn 09:02 – SignEasy is focused on SMB 09:45 – Customers can only pay SignEasy annually 10:35 – Lifetime value 10:46 – SignEasy hasn't done paid user acquisition yet 10:55 – Almost 100% of SignEasy users are inbound based or app store driven 11:57 – Sunil shares how they are reaching high number of downloads in app store 12:10 – SignEasy has been in the app store for 6 years 12:30 – There are many factors that app store considers 12:43 – SignEasy has been using keywords for app store 14:10 – SignEasy gets 60K downloads a month from app store 14:35 – In iOS, the conversion from free to paid users is 5-6% 14:44 – In Android, the conversion from free to paid users is half of the iOS 14:50 – The free trial is either 14 days or limited to 3 documents 15:15 – SignEasy's paid features 15:39 – SignEasy just launched a new feature wherein a user can send a document to sign to multiple people remotely and they can establish a work flow 16:00 – Sunil's philosophy 17:10 – Nathan made a mock offer of $ 15M and Sunil is open to it 17:47 – Find Sunil on Twitter and send him an email 19:27 – The Famous Five 3 Key Points: Build something that people want. Follow your passion and do what you drives your passion. Focus on being part of a great team and focus on learning things rapidly. 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. Show Notes provided by Mallard Creatives
EP 498: $130M Raised Wealthfront Crosses 100,000 Investors, $4.4B in AUM with CEO Andy Rachleff
Andy Rachleff, president and CEO of Wealthfront. He served as a member of the board of trustees and vice chairman of the Endowment Investment Committee for the University of Pennsylvania and as a member of the faculty for Stanford Graduate School of Business where he teaches course on Technology Entrepreneurship. Prior to Wealthfront, Andy co-founded and was general partner of Benchmark Capital, where he was responsible for investing number of successful companies. He has also spent 10 years as a general partner for Merrill, Pickard, Anderson & Eyre - MPAE. Andy earned his S from University of Pennsylvania and his MBA from Stanford Graduate School of Business. Famous Five: Favorite Book? – The Innovator's Dilemma What CEO do you follow? – N/A Favorite online tool? — N/A Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Associating myself with great people" Time Stamped Show Notes: 01:41 – Nathan introduces Andy to the show 03:03 – Andy is retired for his Venture Capital business so he wants to give back 04:07 – David Swensen has been an investor on Andy's 2 venture capital firms 04:37 – The way Wealthfront generates investment mix is the same method David Swensen uses 05:09 - Wealthfront manages a diversified of portfolio of low-cost index funds in behalf of their client 05:20 – Minimum is $ 500 to open an account 05:55 – "If you like Vanguard, you're going to love Wealthfront" 06:00 – Wealthfront can minimize taxes using a software that Vanguard can't do 07:59 – Software works 24/7 so you can monitor your losses daily 08:36 – Wealthfront has been managing around $ 4.4B assets 08:53 – Wealthfront's asset management worth is much smaller than Vanguard 09:25 – "With every new technology that succeeds, it gets adopted at a faster rate" 09:47 – Automated Investment Services has been adapted at a faster rate than ETF 10:09 – Automated Investment Services are actually managing more assets than ETF 10:21 – Volume of individual metrics 10:54 – Wealthfront manages the first $ 10,000 for free and charges a quarter of a percent on a amount managed excessing $ 10,000 11:10 – Sample model is Dropbox 12:00 – "It is more of the client's satisfaction of our service" 12:25 – Percentage of sent invites by users 13:01 – The number of people actually invested in Wealthfront 13:51 – Average MRR 14:04 – Overtime, Wealthfront will introduce new services 14:51 – Wealthfront is a hybrid of old model and also new channels in the software 15:28 – "We want to build services that benefit our clients 16:03 – Wealthfront was launched in Dec 2011 16:12 – Team size is about 140 16:15 – Total capital raised is $ 130M 17:15 – "I'm willing to sacrifice some growth for a far more sustainable model" 17:55 – Connect with Andy through his email and Twitter 16:10 – The Famous Five 3 Key Points: With every new technology that succeeds, it gets adopted at a faster rate. Sacrifice some growth for a far more sustainable model. Associate yourself with great people. 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 [email protected] – Andy's email address @Arachleff – Andy's Twitter handle Show Notes provided by Mallard Creatives
EP 497: Woopra $1M Raised, $1.6M 2015 Revenue, $300k MRR To Help Businesses Get Smarter with CEO Elie Khoury
EElie Khoury, co-founder and CEO of Woopra – a customer intelligence platform that helps businesses essentialize customer engagement across all channels. He studied Computer Science in Lebanese American University where he booked the first generation of Woopra in 2007. In addition to Woopra, he co-founded YallaStartup, a non-government organization establish to proper entrepreneurship in the Middle East and North Africa. Famous Five: Favorite Book? – The Hard Thing About Hard Things What CEO do you follow? – Steve Jobs Favorite online tool? — Google Calendar Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "I won't change a thing" Time Stamped Show Notes: 01:32 – Nathan introduces to Elie the show 02:09 – Woopra is designed for businesses to help them consolidate their customer activities across channels 02:22 – Woopra is a SaaS model and has monthly subscription 02:34 – Woopra is self-funded but they raised an Angel round few years ago 02:43 – Raised about a million dollars in the Angel round 02:48 – It was an equity round 02:58 – There are 12 people in the team 03:08 – All are based in SF 03:18 – Woopra mainly focused on SaaS businesses but they cater to wide-range of businesses 03:39 – Woopra has around 1000 customers at the moment 03:50 – Woopra has 100,000 active projects and 1000 of that are paying customers 04:10 – Average RPU is around $30,000 a year for enterprise and $ 3000 a year for SMB 04:30 – Woopra introduced their enterprise edition a couple of years ago 05:05 – Average MRR 05:27 – Gross customers monthly churn is lower on enterprise than SMB 06:15 – CAC is $ 1-2,000 on enterprise 06:35 – Lifetime value 07:39 – Average monthly lifetime value 07:53 – Woopra has a sales team that engages with enterprise customers 08:08 – Woopra was launched in 2008 08:25 – Woopra has 15,000 active projects that are running for free 09:25 – 2015 total revenue around $ 1.5 million 09:50 – Woopra is in a good place at the moment 10:02 – "Raising funding is always an option. We are just waiting for the right fit and the right time" 10:13 – Woopra has to scale in a faster pace and identify the perfect marketing tool 10:44 – Connect with Elie through their blog and his email 12:20 – The Famous Five 3 Key Points: Raising fund is always an option. Just wait for the right fit and the right time. There is time to polish things out. Take things slowly. Embrace your ignorance. 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. [email protected] – Elie's email address Woopra.com/Blog – Elie's business blog Show Notes provided by Mallard Creatives
EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
ECamilo Acosta, CEO of Pay By Group, which is based out of San Francisco. Their team is working with global brands to make it easier for people to minimize the cost of any purchase at the online checkout. One of their customers expresses their gratitude for the company by saying that their "family reunion [wouldn't] happen without Pay By Group." Listen as Camilo shares how Pay By Group's revenue grew from zero in 2011 to nearly $30 million in 2016. Famous Five: Favorite Book? – High Output Management What CEO do you follow? – N/A Favorite online tool? —Hubspot Sales Do you get 8 hours of sleep?— "Now, I do" If you could let your 20-year old self, know one thing, what would it be? – "I wish I moved to San Francisco earlier" Time Stamped Show Notes: 01:36 – Nathan introduces Camilo to the show 02:05 – Pay By Group is a worldwide payment solution that allows families and friends to split the cost of their online purchases 02:20 – Pay By Group is plugged-in directly to online merchants 02:33 – Pay By Group is a checkout option 02:47 – Pay By Group charges the business and consumers 03:07 – Camilo gives an example on how to use Pay By Group using Walmart's website 03:44 – Pay By Group makes more money on the consumer charges 03:50 – Pay By Group is active on vacation rental sites like CaboVillas 04:19 – The organizer is free but every invite will be charged 2.9% 05:17 – Pay By Group is a pay-as-you-go model 05:34 – Pay By Group was founded in 2011 05:38 – Team size is 20 05:41 – Pay By Group raised $3.4 million in the second round 05:56 – The first round of raised capital 06:28 – Average order value: 06:46 – There's no one number because it depends on the merchants 06:56 – Vacation rentals is Pay By Group's current "bread and butter" 07:08 – Number of merchants currently using Pay By Group is over 300 07:20 – Pay By Group tracks the number of groups/families that have used their system 07:52 – Pay By Group had tens of millions of transactions 08:11 – 2011 total transaction volume number is zero 08:25 – Pay By Group was in 500 startups in 2012 08:58 – Pay By Group's first merchant was Rent Like A Champion 10:04 – 2012 total transaction volume number is less than a hundred thousand 10:30 – 2013 total transaction volume number is around $3 million 10:45 – Goal transaction volume number in 2016 is $30 million 10:57 – Pay By Group is seasonal 11:33 – The Top: Ep. 489 is the episode where Rent Like A Champion's CEO was featured 12:38 – Pay By Group's team is based in San Francisco 12:56 – Camilo's goal for Pay By Group 13:40 – Connect with Camilo through LinkedIn and his website 16:20 – The Famous Five 3 Key Points: Enjoy WHAT you do and WHO you work with—learn from them. The secret is simplicity; less is always more. Dream it and do your best to achieve it. Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. LinkedIn – Camilo's LinkedIn account PayByGroup.com – Camilo's business website CaboVillas – One of Pay By Group's vacation rental merchant Rent Like A Champion – Pay By Group's first merchant Show Notes provided by Mallard Creatives
EP 495: WebEx Killer +$5M In Revenue, 1.7M Users For Better Online Meetings with BusinessHangouts CEO Gary Guseinov
EGary Guseinov, an investor, operator, and advisor in various technology companies including Business Hangouts, InCast, Playsino and Revenue.com. During his career, he has over $100 million in growth capital and structured complex financial transactions. He's also acquired over 300 million users for global technology product and services. Famous Five: Favorite Book? – Power the Mind What CEO do you follow? – Mark Zuckerberg Favorite online tool? — 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? – "I knew how to start a business with very little capital" Time Stamped Show Notes: 01:26 – Nathan introduces Gary to the show 02:08 – Business Hangouts is a web-conferencing and webinar platform 02:17 – It is specifically designed for Google apps 02:47 – Gary has raised capital for USTechSupport in 2003 03:07 – Private from 2003 to 2007 03:15 – From September 2007 to 2012, it became public in Nasdaq 03:22 – It was bought out by a big marketing company in LA 03:29 – Gary was the co-founder and left the company because he needed a break 04:24 – "It takes a lot of processes when it comes to legal and accounting when you shift from private to public" 05:05 – SDC reviews the applications and processes 05:20 – Gary was in his mid-thirties when he started USTechSupport and didn't have any experience running a company 05:29 – Gary is now 46 05:40 – Gary acquired Business Hangouts from the previous owner 05:51 – Business Hangouts had 1.7 million enterprise users when it was acquired 06:02 – Over 700,000 registered users and 70,000 enterprise users 06:40 – Number of paying users 07:10 – Business Hangouts' competitors usually separate web conferencing and webinar leading to 2 different subscriptions 07:48 – Consumers wouldn't know what their monthly expenses were going to be 07:54 – Business Hangouts is not as complicated as their competitors 08:10 – "Our pricing model is very simple" 09:07 – Average monthly RPU is $70 10:40 – Business Hangouts is currently getting offers from investors 11:45 – "We try to build a business based on purely economics" 12:06 – "We think that we are a strong contender to multi-million dollar entities" 12:54 – Gary does not wish to disclose their MRR because they are not looking for capital at the moment as they are still a small company 13:57 – Gary's goal is to stay "at the radar" 14:18 – "You want to be good at what you're doing and you want the market to recognize that" 14:55 – Churn is less than 10% yearly 15:32 – Gary acquired the company for less than $10 million 17:00 – Gary can afford to put inside sales representatives in the demo 17:36 – Business Hangouts is completely bootstrapped 18:15 – Current CAC is zero 18:55 – Team size is less than 10 19:16 – Connect with Gray through LinkedIn 20:42 – The Famous Five 3 Key Points: Choose a business that is viable in the marketplace. Staying "at the radar" while doing an excellent job at what you do will help you become recognized by the marketplace. You CAN start a business without raising capital. Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. LinkedIn – Gary's LinkedIn account Show Notes provided by Mallard Creatives
EP 494: PDFFiller $10M+ Revenue, 200k Customers To make Document Signing/Management Easier with CEO Borya Shakhnovich
EBoris Shakhnovich, president of PDF Filler. He manages the daily operation and marketing campaigns but he is also responsible for the mission and vision of the company. Prior to his work at PDF Filler, Boris earned a PhD in Bioinformatics and he's a Bioinformatics Professor at Boston University. He later moved to Harvard University to work with Systems Biology. Famous Five: Favorite Book? – Guerilla Marketing What CEO do you follow? – Marc Benioff Favorite online tool? — Google Analytics Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "That doing is more important than knowing" Time Stamped Show Notes: 01:40 – Nathan introduces Boris to the show 02:30 – Boris is the president and co-founder 02:47 – PDF Filler is a document management platform 02:51 – It allows people to do end-to-end document generation 03:40 – PDF Filler is a SaaS business model and they charge per month 03:46 – 3 tiers: professional, non-professional, and business 03:50 – Business is the most expensive at $15 a month 03:58 – Average customer pays per month 04:10 – In 2008, the founder started the business and ran it by himself until the end of 2011 04:25 – Boris joined the company 5 years ago and applied marketing technology to it 04:39 – PDF Filler has now close to 200,000 customers 04:58 – Monthly RPU 05:16 – PDF Filler was needed when it launched so it grew organically 05:30 – Gross customer churn per month is low 06:28 – PDF Filler works with the government institutions 06:58 – PDF Filler's digital marketing platform 07:08 - PDF Filler runs 60 million keywords on top of SEO and other SEM platforms 07:19 – Brings 4 million website views monthly 07:30 – Internal CRM with A/B Testing 08:22 – "We have a marketing technology that allows us to find sites that would be interested in collaborating with us and we have that as a partnership program" 09:00 – It is part-human and part-code 09:36 – Semantic search technology 10:06 – They write every code in house 10:50 – They have one of the largest SEM platforms and account in Google 11:44 – PDF Filler makes money on the first payment of their customers 12:20 – There are 160 team members divided across Boston 12:52 – PDF Filler is completely bootstrapped 13:14 – First year revenue was about $20,000 13:36 – 2015 total revenue is double digit millions 13:55 – Future plans with the business: 14:17 – Doing a lot of partnerships with private and government companies 14:43 – PDF Filler is a zero salespeople company 15:45 – Do you have an appetite for acquisition? Have you done it before? 15:50 – Absolutely, but we haven't done it before and are in the process of doing that now 16:05 – "Looking for companies that are complimentary to us and we can add value" 16:40 – "We would buy a competitor of a part of the business, not the whole business" 17:28 – They are currently looking into mail merge space, CRM space, and signature space 17:56 – Connect with Boris through his LinkedIn and website 20:28 – The Famous Five 3 Key Points: If you can, strive to have a partnership with BOTH private and government agencies. A GREAT marketing technology will create TONS of organic website visits. DOING is extremely more important than knowing. Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. PDFfiller.com – Boris' business website LinkedIn – Boris' LinkedIn account Show Notes provided by Mallard Creatives
EP 493: DocHub $90k MRR, 15M Users To Make Document Signing Easy with CEO Chris Devor
EChris Devor, founder of DocHub and other extensions. DocHub allows you to view, edit, and sign PDFs online for free to streamline the exchange of documents. Listen as Chris shares how DocHub is different from their competitors and why he won't easily jump into offers for a share of his company. Famous Five: Favorite Book? – N/A What CEO do you follow? – Elon Musk Favorite online tool? — New Relic Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "I would have taken Computer Science and it would probably make my life easier" Time Stamped Show Notes: 01:40 – Nathan introduces Chris to the show 02:16 – Chris started DocHub 3 years ago 02:57 – DocHub integrates with different providers 03:17 – DocHub can be opened directly from Gmail 03:30 – The signature looks real 03:48 – Number of users is 15.4 million and 52.2 documents 04:18 – What does 15 million users mean? 04:29 – For every one document opened up equates to one user 05:08 – The monthly recurring expense led Chris to having a paywall 06:57 – Chris runs several of the operations 07:16 – Number of paying users in October is around 5,000 08:00 – MRR in October is about $95,000 09:30 – Chris owns 100% of DocHub 09:43 – Team size 11:00 – In the last 30 days, DocHub had 1600 new subscriptions and 650 new cancellations 11:21 – DocHub has 30-day free trial 11:40 – DocHub's revenue churn is 75% 12:23 – When can an investor invest or buy DocHub? 12:40 – It is still too early and Chris hasn't tried new features 13:38 – Chris is finding a good valuation for their company 15:40 – Nathan shows Chris a $200,000 check asking how much equity Chris is willing to give 16:25 – "It's too complex" 17:10 – Would you consider an offer for $5 million? 17:13 – "I will think about it" 18:50 – Connect with Chris through his website 20:19 – The Famous Five Key Points: A free trial is an EXCELLENT way to attract new customers—including a paywall helps, too. Always continue to BUILD and EXPAND your company. Choose a type of degree or diploma that will give you MORE opportunities in the future. Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. DocHub.com – Chris's business website Show Notes provided by Mallard Creatives
EP 492: $2M Raised, $12k MRR with DocuFirst CEO Randall Nachman
ERandall Nachman of DocuFirst, who has over 15 years of experience in mortgage lending and software development with a strong focus on business processes, work-flow, operation, sales and marketing. He founded a mortgage brokerage company in 2003 which grew from 2 loan officers to 135 loan officers and ranked 2nd in the region for total loan closings and volume. He then founded ATLOS, a document management in 2008 which is used by lenders and borrowers. Famous Five: Favorite Book? – Trump: The Art of the Deal What CEO do you follow? – Elon Musk Favorite online tool? — Trello Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – "Pay attention in class" Time Stamped Show Notes: 01:34 – Nathan introduces to the show 02:31 – DocuFirst focuses on 3 core functions within software 03:12 – DocuFirst also focuses on document storage and management 03:39 – The files are stored securely that they can access anytime 03:44 – ATLOS and DocuFirst was launched in 2015 04:13 – First year for DocuFirst was close to $100,000 04:21 – DocuFirst's is a SaaS model and is subscription-based 04:58 – Average monthly RPU is $150 05:35 – ATLOS is for mortgage space but DocuFirst handles any type of forms 06:40 – DocuFirst is currently serving 80 unique companies 06:54 – Each company has an average of 6-7 users 07:06 – ATLOS has 4 companies they're serving 07:18 – ATLOS markets directly to the mortgage lending space 07:38 – DocuFirst's monthly revenue is $12,000 08:07 – Randall started in the document space because he wanted to automate his own business 08:43 – Why create a new brand if they are both running on the same software? 08:45 – ATLOS stands for Automated Tracking Loan Origination Software which is dedicated in the real estate space 09:18 – Team size for DocuFirst is 16 10:11 – DocuFirst's churn rate is low 10:33 – Average CAC is less than $100 11:00 – Randall has raised capital for both brands 11:31 – Randall raised capital because he wants to speed up the way they develop 12:08 – Randall and his team are based in Louisiana 12:51 – Randall considered spinning out DocuFirst as a separate entity 13:46 – DocuFirst's valuation 15:03 – Randall will not sell the business or get an offer 15:28 – Randall has been focus on developing DocuFirst 16:03 – DocuFirst is adding at least 10 customers a month 16:19 – Connect with Randall through DocuFirst and ATLOS 19:02 – The Famous Five 3 Key Points: You can create a business with SIMILAR software, but DIFFERENT target market. Always work to develop and improve your business MORE. Education can lead you somewhere, so pay attention in class! Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. DocuFirst.com – Randall's second business website ATLOS.com – Randall's first business website Show Notes provided by Mallard Creatives
EP 491: $13M in Funding, Grow.com Hits $300k MRR, Helping 600 Customers w/ Better Dashboards with Rob Nelson CEO
ERob Nelson, founder and CEO of Grow – a business intelligence platform. Nathan came across Rob when he was doing research in the intelligence space and Grow provided a lot of good feedback. Rob is a listener of The Top and happily accepted Nathan's invitation to be a guest on The Top. Famous Five: Favorite Book? – The ONE Thing What CEO do you follow? – Aaron Skonnard Favorite online tool? — 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? – "Don't ever quit" Time Stamped Show Notes: 01:25 – Nathan introduces Rob to the show 02:00 – Grow is a powerful business intelligence platform and made specifically for SMBs 02:13 – Rob founded Grow in 2014 02:25 – Rob had a software company which was bootstrapped 02:34 – Rob struggled pulling up data from different platforms 03:29 – Rob sold the company and had a great exit 04:10 – Grow is a SaaS model and has subscription based pricing 04:20 – Grow doesn't charge based on the number of users 05:10 – Grow charges based on the number of metrics used 05:20 – Grow's RPU is $600 a month 05:30 – Users pay monthly but there's a 12-month commitment 06:06 – "If we can't get them hooked with the product in the first 3 days, they can walk away" 06:18 – 75% of the people continue after the 30-day trial period 07:05 – Rob doesn't know their exact churn 07:29 – Grow's usage stats 07:44 – Half of their customers log-in everyday 07:50 – 92% of the customers are logging in at least twice a month 08:00 – Grow is currently serving 600 customers 08:08 – Rob started with the concept in January 2014 08:30 – Rob hired a technical co-founder and gave him 20% of the business 09:00 – Rob and his team are based in Utah 09:45 – Team size is 70 09:58 – Grow raised a series A round and seed round 10:12 – Total amount raised was $13 million 10:14 – Total of $9 million was raised in series A 10:25 – Both are priced equity round 10:44 – Rob is a huge fan of bootstrapping during his first venture 11:28 – Rob decided to raise for Grow because bootstrapping just wouldn't work 11:50 – Total 2014 revenue is about $80 12:20 – 2015 revenue is $150,000 13:00 – Goal for 2016 revenue 13:33 – Rob closed the series A in July 14:03 – Fully-weighted CAC is about $3,500 15:00 – Why do you think Dasher didn't work out? 15:20 – "It's hard to build a company on $20 or $30 a month" 16:35 – Connect with Rob through his website 18:05 – The Famous Five 3 Key Points: USE your experience to IMPROVE your business. Explore other options—if bootstrapped worked first, that doesn't mean it will work again. Don't EVER quit. Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. Grow.com – Rob's business website Show Notes provided by Mallard Creatives
EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
ETommy Sowers, who worked for McKinsey & Company and was the youngest senate confirmed assistant secretary in the Obama administration. On top of this, he is the founder of GoldenKey. Famous Five: Favorite Book? – Getting Things Done What CEO do you follow? – Yvon Chouinard Favorite online tool? — Evernote Do you get 8 hours of sleep?— I try to If you could let your 20-year old self, know one thing, what would it be? – "There is no risk and don't wait for it to be easy" Time Stamped Show Notes: 01:40 – Nathan introduces Tommy to the show 02:01 – GoldenKey is a no-commission real estate network 02:30 – Tommy didn't want to commission a real estate agent 2 years ago 02:50 – "People hack real estate agents in a lot of different ways" 03:49 – GoldenKey's revenue model is a marketplace 03:55 – Consumers pay on the services that they need 04:22 – "When you buy or sell your home, the commission rebate will go to you" 04:44 – In GoldenKey's platform, the supply are agents 04:50 – Agents offer unbundled services 04:56 – From zero, GoldenKey managed to have 1798 agents in 47 states, much higher than Red Fin 05:25 – The consumers are the home buyers or sellers 05:30 – GoldenKey currently has 1/3 buyers and 2/3 sellers 05:39 – Average of 1900 buyers and sellers 05:44 – GoldenKey has currently executed over 900 service transactions 06:11 – GoldenKey has saved consumers over $100,000 of commission 06:25 – GoldenKey doesn't share the number of monthly transactions publicly 07:30 – They get different fees for different types of services 07:45 – "This is not a do-it-yourself real estate and you actually have an agent with you" 08:25 – If I buy a property for $500,000, how much would go to GoldenKey? 08:30 – For search services, it is $50 which goes to the agent 08:50 – On average the consumers pay $2000 to have agents represent them through the transactions 09:07 – "The entire agent commission will be rebated back to you, which is usually 3% of the total transaction" 09:30 – Agents choose GoldenKey because they get something rather than nothing at all 09:40 – Agents can still do the traditional real estate commissioning 09:58 – "There are a lot of consumers in the USA who don't want to pay commission but need an agent's help" 10:31 – There are millions of real estate agents but they won't always have a client 11:51 – GoldenKey was founded in April 2015 11:58 – 18 full-time employees 12:00 – GoldenKey raised $3.4 million in venture capital 13:13 – GoldenKey is not a brokerage and CAC is zero 13:59 – GoldenKey is not a big technology company so they need money for the appropriate platform 14:33 – The product design team is based in San Francisco 14:54 – Others are distributed to other states 15:13 – "Rule of thumb is when you don't need to ask for money when you need money" 15:35 – GoldenKey spends around $100,000 a month 16:14 – GoldenKey joined NFX guild which is for companies building network and network effects 17:01 – Connect with Tommy on Twitter and his website 19:25 – The Famous Five 3 Key Points: Rule of thumb is you don't need to ask for money when you need money. A LOT of consumers in the USA want an agent's help, but DO NOT want to pay commision. There is NO risk. Don't wait for it to be easy—just jump right in! Resources Mentioned: 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 developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the 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. Assistant.to – The site Nathan uses to book meetings with one email. 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. @Sowers – Tommy's Twitter handle GoldenKey.com – Tommy's business website Show Notes provided by Mallard Creatives