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The Top Entrepreneurs in Money, Marketing, Business and Life

Listen to The Top if you want to hear from the worlds TOP entrepreneurs on how much they sold last month, how they are selling it, and what they are selling - 7 days a week in 20 minute interviews! The Top is FOR YOU IF you are: A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4) STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7) An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1) The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14). Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries. Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at NathanLatka.com/TheTop
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Now displaying: Page 1
Jul 28, 2017

Tye Schlegelmilch to the show. Tye is the founder of Hinged following a 16-year career in finance, and most recently as co-CIO for Fortress Investment Group which has about 70B assets in their management. Prior to that, Tye was with a variety of different finance firms including Goldman Sachs.

Famous Five:

  • Favorite Book? – The Snowball
  • What CEO do you follow? – Jeff Bezos
  • Favorite online tool? — Skype and GoToMeeting
  • How many hours of sleep do you get?— 5 to 6 hours
  • If you could let your 20-year old self, know one thing, what would it be? – “I wish I’ve been more measured with certain things in my life”

 

Time Stamped Show Notes:

  • 01:08 – Nathan introduces Tye to the show
  • 01:48 – Tye has a lot of friends who entered the entrepreneurial space
  • 01:58 – As an engineer, he’s always been curious about how he can make things work better
  • 02:13 – He moved out to Connecticut and bought a house
  • 02:17 – Tye saw an opportunity in being able to get things done, understanding what needed to be done, and when it needed to be done in a home
  • 02:37 – Diving into entrepreneurship was just a result of his curiosity
  • 02:55 – Hinged is a holistic online platform for homeowners to better understand, manage, and control all aspects of home ownership
  • 03:43 – Hinged’s business model is providing a full software solution for the service providers
  • 04:05 – Hinged is highly selective with who they want (service providers) on their platform
  • 04:20 – They take 5% of the revenue that goes through the platform to the provider that’s providing the maintenance or repair
  • 04:39 – Hinged is a marketplace
  • 05:23 – They have several hundred homeowners on the platform
  • 05:43 – Across Fairfield and Westchester Country, they have a few hundred service providers in 50 different categories
  • 06:57 – On an average user basis, there are 20%-40% who have spent money on the platform
  • 07:31 – Hinged launched in Feb 2017
  • 08:32 – Appliance repairs are the hottest category on their platform
  • 09:40 – The average price of services done on Hinged is about $1500
  • 10:19 – Tye funded everything on Hinged
  • 10:54 – Internally, they just discussed capital-raising
  • 11:13 – The industry Hinged is in is a “land-grab” so they’re looking into raising capital to expand
  • 11:47 – Today there are 5 full-time employees and a development team from Cogniance
  • 12:48 – They started with a sales team for service providers
  • 13:02 – Teams are continuing to ramp on Hinged
  • 13:35 – Hinged was very well thought out before Tye put money into it
  • 14:05 – Tye’s salary in finance ranged from back office administration to major league baseball players
  • 16:06 – The Famous Five

 

3 Key Points:

  1. There will always be better ways to do things—keep on brainstorming.
  2. Don’t hold yourself back from your own curiosity.
  3. Be selective with who you work with; this will affect the quality of your product.

 

Resources Mentioned:

  • 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
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • 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

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