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The Top Entrepreneurs in Money, Marketing, Business and Life

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon
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Now displaying: February, 2017
Feb 3, 2017

Andrew Gryaznov. He’s an artificial intelligence and a cloud computing evangelist based in Dublin, Moscow. He’s the founder of JSX Exchange – the cloud computing commodity exchange and has built several other services and tools ranging from SshTo.net, Plottico, and many others. Andrew is also a telecom and Linux expert and finalist at the GSOC 2005 Summit.

Famous Five:

  • Favorite Book? – Startup Owner’s Manual
  • What CEO do you follow? –  Brad Katsuyama
  • Favorite online tool? — Trello
  • Do you get 8 hours of sleep?— That depends
  • If you could let your 20-year old self, know one thing, what would it be? – Andrew wished he was more mindful of the global market

 

Time Stamped Show Notes:

  • 01:09 – Nathan introduces Andrew to the show
  • 01:48 – Andrew shares his vision for why he built JSX Exchange
    • 01:51 – Computation will be the most influential resource
  • 03:05 – JSX Exchange has invented a way to commoditize cloud computation
  • 03:53 – Andrew shares what people without JSX Exchange are doing
  • 05:02 – Andrew mentions how the financial exchange space can use JSX Exchange
    • 05:48 – Banks may own supercomputers
  • 07:03 – JSX Exchange works with financial institutions who want accurate trade
  • 07:46 – JSX Exchange wants to expand out of the financial space
  • 08:18 – JSX Exchange is currently in pre-seed stage
    • 09:15 – Irish investors have put out less than $1M
    • 09:24 – It is an equity round
  • 09:34 – Andrew was a solo founder for a period of time, but expanded
  • 10:15 – Andrew has a team of 5 people who are all co-founders
  • 10:50 – The Famous Five

 

3 Key Points:

  • There is a possibility that computation will be the most influential resource.
  • Credibility is needed if you want to be successful in your space.
  • Believe in your product.

 

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
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives
Feb 2, 2017

David Darmanin.  He’s the CEO and founder of HotJar. Over the 12 years before founding HotJar, he generated hundreds of millions of dollars in growth consulting small to Fortune 500 businesses. He’s got multiple teams, developed brands, and ran hundreds of tests for his clients spanning across 19 languages, 12 currencies, and 13 different industries. HotJar is now used in over 150 sites around the world and the company is growing to €3 million euros in just under one year.

Famous Five:

  • Favorite Book? – The 22 Immutable Laws of Marketing
  • What CEO do you follow? – Jay Simons
  • Favorite online tool? — Intercom
  • 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 wished I truly understood what marketing was

 

Time Stamped Show Notes:

  • 02:18 – Nathan introduces David to the show
  • 03:03 – HotJar is a tool that allows site owners to see how their users are using their websites
    • 03:30 – Once you know the customer experience, it is easier to see what to improve next
    • 03:45 – Nathan experienced HotJar himself, in his website
    • 04:10 – HotJar is careful about what data to show in regards to privacy
  • 05:05 – HotJar’s technology was expensive
  • 05:30 – HotJar has a premium model
  • 05:51 – Average customer pay per month is €50
    • 06:10 – It was only €30 when HotJar started
  • 06:33 – HotJar is currently serving 10K customers
  • 06:50 – The number of sites each customer has
  • 07:30 – ARR
  • 07:40 – MRR
  • 07:55 – Revenue goal for 2017
  • 08:15 – HotJar currently has a team of 22 people and 8 on the leadership team
    • 08:35 – There are 5 people in the founding team
    • 09:14 – There are 4 big pillars: marketing, customer success, product, and operation
  • 09:57 – Gross customer churn is higher than net negative churn
    • 11:05 – “We are the dropping the smaller customers, but we are retaining and expanding the bigger customers”
    • 11:20 – Both have less than 10% monthly churn
  • 11:41 – HotJar was founded in 2014
  • 12:20 – “If you truly want to create a premium company and not just like a trial model which is disguised as a premium, you really need to think about how does that free package stand on its own 2 feet”
  • 12:43 – HotJar minimized the number of interface and allowed users to delete them and create new ones
  • 13:21 – David does not track the time the customer has converted from free to premium, but they track the cohorts
  • 14:00 – CAC is extremely conservative
  • 15:04 – The premium aspect Hotjar offers is brand building
    • 15:50 – There is brand value in doing different types of campaigns
  • 16:17 – HotJar is bootstrapped
  • 16:25 – HotJar sees other players who have raised capital
    • 17:14 – HotJar does not see raising capital as an advantage
  • 17:34 – HotJar gets a lot of referrals
  • 18:10 – HotJar just recently started with paid advertising
    • 18:40 – HotJar has an investment target model
    • 19:10 – HotJar has used this model to offer flexibility and freedom
  • 20:40 – The Famous Five

 

3 Key Points:

  • Churn is one of the biggest challenges of a SaaS business.
  • If you truly want to create a premium company and product—think about how that free package stands on its own two feet.
  • Check your options because NOT raising capital can be very possible and advantageous for you.

 

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
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives
Feb 1, 2017

Rami El Chamaa. He’s the CEO and founder of Appointlet. He started earlier as a digital marketing manager at Eastline Marketing where he led lead generation, SEO, email marketing, and content marketing. Before that, he was with Ernst & Young.

Famous Five:

  • Favorite Book? – Lean Startup
  • What CEO do you follow? –  Elon Musk
  • Favorite online tool? — Intercom
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – N/A

 

Time Stamped Show Notes:

  • 01:30 – Nathan introduces Rami to the show
  • 02:03 – Appointlet is an appointment scheduling software
  • 02:34 – Appointlet is a SaaS based business and makes money through subscriptions
  • 02:40 – Appointlet has monthly and annually pricing depending on the team price
  • 02:51 – Average monthly revenue per customer is $50
  • 03:17 – Appointlet’s pricing has been set since 2012
  • 04:18 – Rami’s co-founder was working for his previous company and saw the tedious process of appointment scheduling through different websites
  • 05:17 – Rami saw his co-founder’s thread in Reddit regarding his webapp and Rami replied to him
  • 05:31 – Rami is from Lebanon and met his co-founder through Reddit
  • 05:45 – Rami is in charge of marketing growth and his co-founder is in charge of the coding
  • 06:20 – The Reddit thread
  • 07:05 – Rami and Jared don’t talk much about equity
  • 07:30 – Rami didn’t have any idea about equity and just focused on marketing
  • 08:05 – Rami now has 25% of the company
  • 08:27 – Appointlet has 1100 paying customers
  • 08:55 – Rami had been working with Appointlet for a year when he realized he needed to be compensated
  • 09:16 – First year revenue
  • 10:19 – Average RPU
  • 10:35 – Rami focuses on listening to customers and creating a flow that lets the customer feel that they are being taken cared of
  • 11:08 – Startups grow through support
  • 12:08 – Rami has integrated branding techniques
  • 13:00 – “The lifetime value of a customer usually drives the lifetime value of a new customer as well”
  • 14:00 – Gross customer churn
  • 14:10 – Appointlet is doing paid, targeted, marketing campaigns
  • 14:40 – Appointlet spent $2-3K on a marketing campaign
  • 15:07 – LTV
  • 15:30 – Appointlet just hired their first customer support manager
  • 15:58 – Appointlet is currently looking for software developers located in USA
    • 16:05 – Salary range
  • 16:49 – Appointlet is bootstrapped
  • 16:59 – Appointlet is not interested in raising funds until they need it
  • 17:36 – Appointlet is currently cash flow positive
  • 18:55 – The Famous Five

 

3 Key Points:

  • Opportunities can now be found on the internet – just look for someone with whom you share the same passion.
  • Working for free isn’t that bad as long as you make yourself indispensable.
  • The lifetime value of a customer usually drives the lifetime value of a new customer 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
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives
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