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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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Aug 1, 2017

Mariano Suarez-Battan. He’s the founder and CEO of MURAL, a digital whiteboard for exploring complex challenges visually. Global 2000 companies like IBM, Intuit, Steelcase, and Autodesk have deployed MURAL at scale to enhance collaboration in their digital workplace. A former startup in residence at IDEO, Mariano also founded Three Melons, a game studio that designed and published online games like Bola, which was acquired by Playdom and Disney in 2010.

Famous Five:

  • Favorite Book? – Purple Cow
  • What CEO do you follow? – Aaron Lewis
  • Favorite online tool? — LinkedIn
  • How many hours of sleep do you get?— 8
  • If you could let your 20-year old self, know one thing, what would it be? – To trust in your gut always

 

Time Stamped Show Notes:

  • 02:12 – Bola has created games for large brands like Lego
  • 02:23 – Back then, the social games industry was moving fast with Zynga, Playfirst and Playdom
    • 02:31 – Mariano thought that, strategically, it made sense to grow bigger with those companies
    • 02:45 – It was also a great decision, financially and professionally
  • 03:00 – Mariano started Bola in Argentina
  • 03:24 – Acquisition price was with stock and equity
    • 04:12 – The cash was $4-5M
    • 04:26 – $600K was the payback for the investors
  • 04:44 – MURAL was a startup in residence in IDEO
    • 05:03 – IDEO brought in Collaborative Fund as a funder for MURAL
    • 05:10 – MURAL’s vision is to make every designer share their design thinking globally
    • 05:36 – IDEO was like an incubator
    • 05:49 – Prior to IDEO, MURAL has raised closed to $1M
    • 05:59 – Collaborative Fund invested money on MURAL while IDEO made MURAL known to big companies like IBM
    • 06:33 – Some of IDEO’s DNA are in MURAL
  • 07:00 – MURAL’s pricing
    • 07:02 – $12 per member per month and billed annually, $16 billed monthly
    • 07:10 – The pricing on the website is for online customers
  • 07:23 – A quarter of their customers are online and the rest are enterprise costumers
  • 07:46 – MURAL is a SaaS business
  • 08:22 – MURAL has over 40K active users monthly
  • 08:58 – MURAL has no free plan but has introduced a free education plan to help kids
  • 11:00 – MRR is around $280K
  • 11:11 – Average ARR
  • 12:06 – Currently, MURAL has raised a total of $2.4M
  • 12:16 – Team size is 35
    • 12:45 – Most are in product development and engineering
    • 12:55 – Office is located in San Francisco
  • 13:30 – Gross monthly churn
  • 14:17 – Some of the customers are entrepreneurs selling to multiple departments
  • 15:23 – MURAL churn on online customers is quite high
  • 15:38 – Average cost per new customer
    • 15:55 – One of MURAL’s new customer is from an event they’ve sponsored
    • 16:04 – The cost of the sponsorship with other expenses was $3K
    • 16:29 – What Mariano does is split up general cost with the number of new customers
  • 16:50 – Gross margin is around 85%
  • 18:45 – The Famous Five

 

3 Key Points:

  1. The investment in your company doesn’t always need to be cash.
  2. Before going into an acquisition or partnership, go on a vacation and think about it with a clear head.
  3. Having different revenue sources leads to different churn sources—focus on where churn is the least.

 

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
  • GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
  • 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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