Slater Victoroff. He’s the CEO and founder of Indico Data Solutions. He’s a poet, a coder, MMA fighter, vegan Buddhist, and Red Letter Christian.
Famous Five:
- Favorite Book? – n/a
- What CEO do you follow? – n/a
- Favorite online tool? — Stack Overflow
- Do you get 8 hours of sleep?— No
- If you could let your 20-year old self, know one thing, what would it be? – Slater hoped he had realized how much he loved programming
Time Stamped Show Notes:
- 02:26 – Nathan introduces Slater to the show
- 02:45 – Indico is a text and image analytics provider
- 03:25 – Indico’s business model
-
- 03:52 – The enterprise client is their main revenue channel
- 05:09 – Indico was founded in 2013
- 05:25 – Indico has raised $4.5M
-
- 05:30 – Indico started with a seed round
- 06:10 – How Slater managed having a bridge round
- 07:05 – First year revenue
- 07:31 – 2016 revenue
-
- 07:38 – Slater is hoping to hit a million dollar revenue for 2017
- 08:03 – Average MRR
- 08:22 – Indico is a SaaS company
- 08:42 – Indico currently has 20 customers
- 09:11 – Manulife is working with Indico
- 11:30 – Each client of Indico wants to have their own set of algorithms
- 12:00 – Nathan summarizes how Indico works
- 12:30 – Indico gives their customers an engine
- 13:20 – Slater worries about Facebook’s echo chamber
-
- 13:33 – “Facebook’s algorithm is not designed to create echo chambers”
- 15:17 – Customer churn
- 15:53 – Zero spent on marketing
- 16:00 – Most funding goes to the engineering team
- 16:12 – Team size is 10
- 17:40 – The Famous Five
3 Key Points:
- Having a bridge round does not mean you’re losing money—prove that you are growing and need more funding.
- Learn how to work around echo chambers.
- Find out what you love to do and go for it.
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