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    Business

    Top Founders

    What if you knew data behind the fastest growing SaaS companies today? Each morning join Nathan Latka as he spends 15 minutes interviewing SaaS founders. You’ll learn how SaaS CEO’s launched their startup and grew it into a real SaaS business. SaaS Founders range from bootstrapped to funded, MVP to 10,000 customers, pre revenue to pre IPO.

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    Copyright: © (C) The Latka Agency LLC

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    Latest Episodes:
    EP 380: She Makes $500k On Lice Treatments Franchise Aug 08, 2016
    Show notes

    Cody Bradstreet. Cody has a background in accounting and was working for Dell when she realized she needed a backup plan for work. She opened up her own franchise of The Lice Place, where people can have lice manually moved without harsh chemicals. Find out how an accountant got her hands into the lice industry.

    Famous Five:

    Favorite Book? – Her own future book What CEO do you follow? — No Favorite online tool? — Quickbooks Do you get 8 hours of sleep?—Yes If you could let your 20 year old self know one thing, what would it be? — Love yourself. Forward fixes everything.

    Time Stamped Show Notes: 01:00 – Nathan introduces Cody 01:20 – Started in accounting 01:40 – Worked at Dell 02:10 – She left Dell to "chase my dreams in the lice industry." 02:30 – Started as a backup plan for possible layoffs 03:20 – She approached a small business, The Lice Place 03:50 – The transition 04:25 – Franchising 04:40 – Total revenue for the year before she bought it was under $50k 05:10 – Service to manually remove lice 05:50 – She did her own valuation 06:50 – Royalties 07:10 – A standard franchise model 08:00 – A goal to buy the whole business 08:50 – Why to buy instead of build 09:10 – Revenue for the last year was $250k 09:50 – Employees are the biggest expenses 10:10 – Advice for future franchisers 10:40 – "Get a good lawyer." 10:55 – Connect with Cody on LinkedIn 12:45 -- The Famous Five

    3 Key Points: Put yourself out there to get into a certain industry or business. Consider buying a business instead of building a new one. Make sure you read the fine print before you start your own franchise. Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Quickbooks – Cody's accounting tool Evernote – Nathan's favorite online tool Show Notes provided by Mallard Creatives


    EP 379: Secret Travel App, $120k 2015 with Kenneth Lee Aug 07, 2016
    Show notes

    Kenneth Lee, founder of TravelFlan. Kenneth has a bachelor's degree in computer engineering and has developed a business that makes travelling easier. TravelFlan has partnered with major airlines as well as thousands of individual customers to give them a personal digital travelling assistant.

    Famous 5:

    Favorite Book? – Zero to One What CEO do you follow? — Elon Musk Favorite online tool? — Evernote Do you get 8 hours of sleep?—No If you could let your 20 year old self know one thing, what would it be? — Quit school faster.

    Time Stamped Show Notes: 01:10 – Nathan introduces Kenneth 01:30 – TravelFlan 01:55 – Customers pay on average $15 02:30 – Three sources of revenue 03:05 – History of the business 03:30 – He and his partner loved to travel 04:14 – First-year revenue in 2015 $120k 04:50 – They have a free service and a premium service 05:15 – 2000 customers 05:25 – May 2016 revenue from commissions from airlines was $25k 06:00 – Two large airlines use their data 06:30 – May total revenue was $50k 06:55 – Fundraising 07:30 -- $5 Million valuation 07:40 – Most of the team is in Asia 08:25 – Churn is not as applicable in this type of business 09:30 – Customer acquisition 09:57 – Team of 11 people 10:10 – travelflan.com or Kenneth.lee@travelflan.com 23:40 -- The Famous Five

    3 Key Points: Start with a very focused business and then expand as you see success. If you have a good idea, pursue it immediately. Find different ways to make revenue.

    Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Evernote – Kenneth's favorite online tool Show Notes provided by Mallard Creatives


    EP 378: $750k InfoMarketer Sells 130k Books with Peter Voogd Aug 06, 2016
    Show notes

    Peter Voogd. Peter helped several millennials make six figures and realized he could make a business out of it. His Gamechanger's Academy helps promising entrepreneurs become successful within months. Under 30 himself, Peter is a best-selling author and a recognized leader for entrepreneurs and millennials.

    Famous Five:

    Favorite Book? – The Millionaire Fastlane What CEO do you follow? — Elon Musk Favorite online tool? — Infusionsoft, ScheduleOnce, Kajabi 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 strategic and intentional.

    Time Stamped Show Notes: 01:10 – Nathan introduces Peter 02:05 – Gamechanger's Academy 02:30 – Launched in 2013 02:45 – Connections for young entrepreneurs 03:10 – His past experience 03:30 – "Built a culture of excellence" 04:20 – He helped several young professionals become successful 05:00 – "I wanted to shift the culture for millennials." 05:15 – gamechangersmovement.com 05:25 – Payment system 06:05 -- $297/month for the Platinum plan 06:50 – About 70% are on a yearly plan 07:10 – The Rookie plan 07:30 – Churn 08:00 – People typically stay for 7 to 8 months if they're not on the yearly plan 08:50 – A focus beyond just the numbers 10:10 – Good retention for the industry 10:30 – How to get new people to find the site 10:50 – Podcast, book, content 11:05 – Referral program 11:20 – Biggest expenses 11:30 – Affiliate costs 11:45 – Organic traffic 12:30 – 6 Months to 6 Figures 13:00 –Self-published 13:15 – 135000 books sold, plus audio books 13:30 – Marketing 14:45 – Bulk purchases 15:25 – Peterjvoogd on Instagram and peterjvoogd.com 17:45 – Peter's email list 18:00 -- The Famous Five

    3 Key Points: It starts with your own effort and drive. Consider how you can improve your own culture. Make a business out of what you are good at.

    Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Infusionsoft -- Peter's favorite online tool ScheduleOnce -- Peter's scheduling tool Kajabi – Peter's membership site portal Gamechanger's Academy – A top source for millennials and entrepreneurs Show Notes provided by Mallard Creatives


    EP 377: 6M Shoes Designed, $24M Raised, By Customer Shoe Maker Shoesofprey.com Aug 05, 2016
    Show notes

    Jodie Fox, a woman who has solved the problem of constantly hunting for the right pair of shoes. Her company Shoes of Prey has raised over $24 million for its system that allows every pair of shoes to be completely customized.

    Famous 5:

    Favorite Book? – Getting Things Done What CEO do you follow? — Tom Ford 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? — Do everything before you're ready.

    Time Stamped Show Notes: 01:13 – Nathan introduces Jodie 01:50 – Shoes of Prey—Women can design their own shoes 02:20 – Peer play 02:55 – Women wanted a physical interaction with their shoes 03:15 – First offline store 03:40 – Costs for stores 04:14 – Launched in 2009 04:20 – Funding to date is $24M 04:35 – Every pair is custom made 04:58 – Their website has a gallery for inspiration 05:10 – It's a social interaction about shoes 06:05 – Customization can start with an inspiration shoe or from scratch 06:40 – Customers have complete freedom 07:25 – How much time people spend making a shoe 08:15 – Acquisition costs 09:45 – Mass-produced shoes are cheaper to produce 10:30 – Pairs of shoes sold 10:55 – Some people design and never buy 11:15 – Their investors 12:00 – Competitors 12:25 – Average sale is $225 13:03 – Team of over 220 13:30 – Production in China 13:40 – They built their own factory there 14:15 – A video of the process at their factory 14:40 – First-year revenue was less than $50k 15:00 – Jodie was not in the fashion industry when she started her company 16:40 – She was brainstorming with friends on the beach 17:15 – Her cofounders are her ex-husband and their groomsman 18:10 – Shoes of Prey wants to eventually grow to other clothing 19:20 – Pay per customer 19:40 – 75% is word of mouth 20:05 – Campaigns 20:50 – Testing offline methods 21:25 – youtube.com/jodiefox 21:35 – jodieannfox on Instagram or @jodiefox on Twitter 23:40 -- The Famous Five

    3 Key Points: Find a niche and you'll have a business with no real competitors. Don't let complicated relationships get in the way of your business's success. Make your business a unique experience for the customer.

    Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Slack – Jodie's favorite online tool

    Show Notes provided by Mallard Creatives


    EP 376: $5M on $15M Pre Money Goal For BlockChain Based BurstIQ Aug 04, 2016
    Show notes

    Frank Ricotta, CEO of BurstIQ, which helps professionals and businesses in the healthcare industry connect. Frank has been through the grinder as an entrepreneur. Huge crash-and-burn businesses have gotten him to this point.

    Famous 5:

    Favorite Book? – The Executive in Action What CEO do you follow? — PayPal 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? — Trust your instincts, and don't lose your balance.

    Time Stamped Show Notes: 01:13 – Nathan introduces Frank 01:44 – BurstIQ is a platform service 02:00 – They help their customers create a network 02:53 – Founded in April 2015 03:05 – Frank had been working in health and saw an issue 03:24 – There are three founders 03:52 – First-year revenue was $150k 04:05 – Involvement in several other startups 04:25 – His "crash and burn" story 05:29 – The cofounders 05:55 – May 2016 customers: 10 06:20 – Average pay per customer is $250k to $1M 06:35 – A focus on the base plan 07:00 – $75k/month 07:35 – No patterns yet for churn 08:45 – Customer acquisition cost 09:00 – Inside sales and partners 09:15 -- $150k to $200k 09:40 – 12 team members 10:00 – What ratio Frank likes to see 10:40 – "Work to keep your head above water" 11:09 – The company's capital 11:37 – Valuation for BurstIQ 12:40 – They want to raise $5M 13:10 – Based in Denver 13:55 – Techstars 14:25 -- @fricotta or Frank Ricotta on LinkedIn 16:26 -- The Famous Five

    3 Key Points: Come up with a business that makes something simpler. Being an entrepreneur means experiencing failure along with success. If you don't stretch yourself to reach high goals, no one will believe that you can ever achieve them.

    Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Slack – Frank's favorite online tool to connect with coworkers and customers

    Show Notes provided by Mallard Creatives


    EP 375: Dad of 4 Holds Secret to Buying Time, Clearing Your Calendar With Ari Miesel of LessDoing.com Aug 03, 2016
    Show notes

    Ari Meisel, host of the Less Doing Podcast. Ari's book Less Doing, More Living has sold over 30,000 copies and has been translated into six other languages. Even with four children, Ari stays on top of his consulting business that continues to bring in more revenue every month.

    Famous 5:

    • Favorite Book? – The Art of War
    • What CEO do you follow? — Elon Musk
    • Favorite online tool? — Inbox by Google
    • Do you get 8 hours of sleep?—No
    • If you could let your 20 year old self know one thing, what would it be? — Test ideas before you jump into them.

    Time Stamped Show Notes:

    • 01:30 – Nathan introduces Ari
    • 02:00 – Ari is a productivity consultant/coach
    • 02:20 – Virtual company has brought in the most revenue
    • 02:35 – They offer on-demand project managers
    • 03:00 – Customers pay a membership fee and then an hourly fee for service
    • 03:30 – First-year revenue was $200000
    • 04:15 – 170 current customers
    • 04:40 – They find customers through Ari's following and the podcast
    • 05:50 – Ari is involved with his customers
    • 06:10 – It's an expensive service because of the quality and variety of what they can do
    • 06:45 – Ari likes connecting resources for other businesses and finding talent
    • 07:15 – They are really involved in all of the businesses that hire them
    • 07:35 – "An easy-bake oven for a business"
    • 08:40 – Average customer pays about $1150/month
    • 09:20 – In May they had $46000 in revenue, and they are growing every month
    • 10:00 – His business takes care of a lot of the daily tasks for business owners and companies
    • 10:50 – The company is self-funded
      • 11:05 – They decline anyone who wants to invest in the company
    • 11:58 – Less Doing Podcast
      • 12:10 – 30000 downloads per month
      • 12:20 – A weekly show
      • 12:35 – Average downloads per episode for the first couple months: 3000
      • 13:30 – Sponsorship revenue for the podcast
    • 14:08 – Ari's books, Less Doing, More Living and The Art of Less Doing
    • 15:00 – He got an advance with Random House/Penguin for Less Doing, More Living
      • 15:15 – How he got an advance as a first-time author
      • 16:20 – 30000 copies sold
    • 18:00 – Lessdoing.com
    • 20:00 – The Famous Five

    3 Key Points:

    • Create the best service and business that you possibly can.
    • Find your specific talent and put yourself in that industry.
    • It is possible to balance a busy life with your business.

    Resources Mentioned:

    • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
    • Freshbooks - The site Nathan uses to manage his invoices and accounts.
    • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
    • Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
    • Inbox by Google – Ari's favorite online tool
    • Show Notes provided by Mallard Creatives

    EP 374: 13 yo Starts Business, Now $1.2M in 2016 with Nick Kullin Aug 02, 2016
    Show notes

    Nick Kullin of Second Flight Consultancy. Nick started his first business at just thirteen years old. As he continued with tons of other jobs after high school, he realized he wanted to go back to how he felt as a thirteen-year-old. He wanted to be an entrepreneur again.

    Famous 5:

    • Favorite Book? – Think and Grow Rich
    • What CEO do you follow? — Elon Musk
    • 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? — Instead of working for people, just start your business at a young age.

    Time Stamped Show Notes:

    • 01:15 – Nathan introduces Nick
    • 01:35 – He started his first business at age 13
      • 02:15 – He connected people to new music artists
      • 02:45 – He automated his system
      • 03:05 – He got around $100 to $150 from each band
      • 03:30 – He made over $20k with that business
    • 03:50 – Then he worked for a golf resort doing marketing and sales
      • 04:50 – He helped the resort get a lot more publicity and better marketing
    • 05:25 – Then about a year later he went into health and fitness
      • 04:45 – He wanted to surround himself with successful people
    • 06:30 – He got an opportunity with Time Warner Cable
    • 06:40 – Later, he got out of corporate and worked with a small business
    • 07:10 – His next job paid him $120000, but he realized he wanted to get back into entrepreneurship
    • 07:55 – A lot of money does not make you happy.
    • 08:40 – Marketing was his passion, and people saw the value of his skills
    • 09:20 – His business was called Second Flight Consultancy
    • 10:00 – First-year revenue was $12000
      • 10:40 -- $175k in 2015, and projected to be over a million in 2016
    • 11:13 – Nick developed a "sales robot" that works with LinkedIn
    • 12:00 – Ten team members
    • 12:25 – Profit is usually 70% of the revenue
    • 13:10 – He started out doing a lot of the work on his own
    • 14:00 – You need to do really great work with proven results
    • 15:10 – He has a variety of customers
    • 15:40 – Nick's academy is a coaching product
      • 16:00 – 30% of their revenue
    • 16:15 -- secondflightacademy.com
    • 18:25 – The Famous Five

    3 Key Points:

    • Don't be afraid to start your own business from a young age.
    • A large salary doesn't necessary buy happiness.
    • Make your passion and your skills into a business.

    Resources Mentioned:

    • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
    • Freshbooks - The site Nathan uses to manage his invoices and accounts.
    • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
    • Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
    • Yesware – Nick's favorite online tool
    • Show Notes provided by Mallard Creatives

    EP 373: $1m+ On Green Contracting Company and Tech Executive Aug 01, 2016
    Show notes

    Lillie Cameron, a brand new mom who also runs her own business. She started EcoSafe Spaces with her now husband. The company provides design and building services for green, eco-friendly construction. She also works with Rackspace, which has recently revamped its policies for maternity and paternity leave.

    Famous 5:

    • Favorite Book? – The Advantage, with its six-question model
    • 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? — Surround yourself with people who lift you up. Don't be afraid to fail.

    Time Stamped Show Notes:

    • 01:13 – Nathan introduces Lillie
    • 01:50 – Green construction
      • 02:10 – They had a friend who lost a child during pregnancy because of construction chemicals
    • 02:30 – EcoSafe Spaces
      • 02:40 – Design and building services
    • 03:10 – Their recent project in downtown Austin
    • 03:50 – Around $500000 jobs
    • 04:15 – "The most energy efficient homes in the city"
    • 04:30 – The sales pitch
      • 04:50 – People in Austin understand sustainability
    • 05:35 – Opened in 2007
    • 05:45 – Margins vary – fixed rate vs. cost plus contract
      • 06:10 – Fixed rate
      • 06:45 – The contract is much more flexible
    • 07:20 – Fixed rate deal that went bad
    • 07:35 – Now they do mostly cost plus contracts
    • 07:50 – Up to 7 projects at a time
    • 08:30 – The plan for EcoSafe
      • 08:55 – There are benefits to being a small business
    • 09:20 – Lillie also works with Rackspace
    • 09:25 – Recruited in 2009 by a former boss
    • 09:55 – She did project management work, but wore multiple hats
    • 10:45 – It is utility-based computing
    • 11:10 – How this type of service was first received
    • 12:30 – There are many different types of customers
    • 13:20 – They have a unique angle
    • 13:35 – Rackspace is a great place for new parents to work
    • 14:10 – Maternity leave in this country
      • 14:45 – Canada does a year of leave
      • 15:00 -- Paternity and maternity leave needs awareness
    • 15:55 – ecosafespaces.com and Lillie Cameron on LinkedIn
    • 17:50 – The Famous Five

    3 Key Points:

    • Find a business idea that solves an important problem.
    • Consider maternity leave in the US and how it needs to improve.
    • You can balance it all, as a business owner and a parent.

    Resources Mentioned:

    • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
    • Freshbooks - The site Nathan uses to manage his invoices and accounts.
    • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
    • Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
    • Trello – Lillie's favorite online tool for staying organized
    • Show Notes provided by Mallard Creatives

    Ep 372: How to Run A Small, Happy, Profitable Agency With James Turner Jul 31, 2016
    Show notes

    James Turner, of Turner Creative. James started his business after the company he worked for picked up and moved five hours away. He didn't want to make the move, so he took his skills and created his own conversion rates optimization company. Now he's starting out another company, called Snap. He has caught the entrepreneurial bug and is making more money now than when he was working in the corporate world.

    Famous Five:

    • Favorite Book? – Influence
    • What CEO do you follow? — Elon Musk
    • Favorite online tool? — Airstory
    • Do you get 8 hours of sleep? — "I am trying really hard, but I also have a toddler."
    • If you could let your 20-year-old self know one thing, what would it be? — "You're not going to miss out if you stay home to work on yourself."

    Time Stamped Show Notes:

    • 01:20 – Nathan's introduction
    • 01:36 – What is conversion rate optimization?
    • 02:05 – Turner recently worked with Conversion Sciences
      • 02:45 – Getting more signups for a free trial
    • 03:45 – Good and bad conversion rates
    • 04:50 – "People have a hard time putting themselves in the heads of their customers."
    • 05:25 – The value of customer research
    • 06:20 – How to collect data
      • 06:30 – Talk to your customers
    • 07:04 – Using testimonials and reviews
      • 08:05 – Find which problem is most common in your reviews
    • 08:20 – How Turner Creative got started
    • 09:00 – First-year revenue was $36000
    • 09:30 – 2015 total revenue was about $45000
    • 09:40 – Payment per project: $10000 for 3 months
      • 10:00 – He will revamp/renew a company's website
    • 10:45 – Currently 2 customers
      • 10:55 – "I only want to do two retainers at a time."
    • 11:05 – James is starting a new company, Snap
      • 11:25 – Focusing on quick copy
      • 11:50 – His partner is Lianna Patch, of Punchlinecopy.com
      • 12:00 – "Conversion optimized copy on demand"
    • 12:20 – Contact him at turnercreative.ca or snapcopy.co.
    • 14:30 – The Famous Five

    3 Key Points:

    • Take your skills and find a way to be financially successful.
    • Take time to consider customer reviews and testimonials—utilizing this information will make your company better.
    • Set aside time to take care of yourself and better yourself.

    Resources Mentioned:

    • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
    • Freshbooks - The site Nathan uses to manage his invoices and accounts.
    • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
    • Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
    • Airstory – A new online tool for content writing
    • Show Notes provided by Mallard Creatives

    EP 371: $1M Raised, $40k/Mo Marketplace For Class Notes with Sieva Kozinsky Jul 30, 2016
    Show notes

    Sieva Kozinsky, founder and CEO of StudySoup. The online marketplace now has over 5000 buyers and 1000 sellers. These sellers provide their notes and study guides for college courses. StudySoup helps their sellers learn how to be entrepreneurs and provides a unique service to college students everywhere.

    Famous 5:

    • Favorite Book? – Elon Musk's biography
    • What CEO do you follow? — Elon Musk
    • Favorite online tool? — Slack
    • Do you get 8 hours of sleep? — "I get 6.5 to 7.5 hours."
    • If you could let your 20-year-old self know one thing, what would it be? — "Pay attention to the signs. If something isn't working, ditch it and move forward."

    Time Stamped Show Notes:

    • 01:05 – Nathan's introduction
    • 02:25 – StudySoup is "an education marketplace for college students"
    • 01:55 – It's a monthly subscription
    • 02:25 – Sellers take notes, and the buyers use those class notes
    • 03:10 – Students get "karmas" to access notes and study guides
    • 04:10 – the "karma" system
    • 05:10 – The backstory
      • 05:45 – StudySoup was tested at a few schools and took off
    • 06:10 – Year-one revenue was $45k
    • 06:25 – Now they have over 5000 subscribers
    • 06:45 – 1000 note takers
    • 07:09 – Funding is over a million
      • 07:35 – They used convertible notes
    • 08:15 – Team size
    • 08:30 – The team is distributed and remote
      • 09:05 – Slack, Google Hangouts
    • 09:25 – Trajectory
      • 09:55 – They will hit almost $4 million this year
    • 10:05 – A focus on getting more note takers
    • 10:40 – The revenue is seasonal according to class schedules
    • 11:15 – Revenue February to May is pretty consistent
    • 11:45 – About 4000 buyers used the service in March
    • 12:25 – All buyers and sellers are very active
    • 12:45 – Average purchase size is $42
    • 13:15 – A study guide is the best-selling item
    • 13:40 – What happens after a student graduates?
      • 14:15 – Expanding into grad school and high school in the future
    • 14:40 – Buyers pay 15 to 20 dollars each month
    • 15:25 – Churn is 8% to 12%, lower than the average for the industry
    • 16:20 – Acquisition cost
      • 16:30 – Training sellers to be entrepreneurs
    • 17:10 – It's too early to see lifetime value of a customer
    • 17:40 – Contact Sieva on Twitter: @SievaKozinsky
    • 19:40 – The Famous Five

    3 Key Points:

    • When you find an idea that works, go for it.
    • Distributed, remote teams are very doable with today's online tools.
    • Look for the signs that tell you the direction your business is headed.

    Resources Mentioned:

    • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
    • Freshbooks - The site Nathan uses to manage his invoices and accounts.
    • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
    • Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
    • Slack and Google Hangouts – The online tools that StudySoup uses to stay in touch with a distributed team.
    • Show Notes provided by Mallard Creatives

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