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SaaS Interviews with CEOs, Startups, 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 business. SaaS Founders range from bootstrapped to funded, MVP to 10,000 customers, pre revenue to pre IPO.
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Now displaying: Page 1
Jan 24, 2016

Ep 143 Pam OHara of BatchBook joins Nathan.

Pam O’Hara is the CEO of Batchbook social CRM, which she co-founded in 2006. She is responsible for setting the overall direction and product strategy for the company. As a businesswoman and mother, she is committed to running a company that can adapt to the unique needs of both its employees and its customers in order to foster better organization, increased productivity and more balanced lifestyles.

YOUR $100: Remember to subscribe to the show on itunes then text the word "nathan" to 33444 to confirm that you've done it to enter to win $100 every Monday on the show. Do this now. Stop reading this and do it!

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3 Key Points:

  1. As a business grows, it gains more sophisticated channels for customer acquisition.
  2. It’s important for small businesses to be able to easily add employees and partners to their online communication networks – and Batchbook does just that.
  3. Learning is a lifelong process, fail hard and fail fast instead of concentrating on getting every little thing right.

Episode Notes:

  • 01:00 – Nathan’s introduction to today’s show
  • 01:42 – Pam joins the show
  • 02:31–  Small businesses needed an online tool to keep up with their advertisers, customers, and speakers
  • 03:20 – Pam met her lead developer for Batchbook on the playground where their children played
  • 05:20 – Batchbook, an online service offers two pricings, 33$ or 46$ per month billed annually
  • 05:30 – They are a 9-year-old company that is self-funded and has around 20 team members
  • 05:50 – Batchbook is used by tens of thousands of clients – free and paid
  • 06:36 – Batchbook was the first online organizational and sharing service to offer an unlimited user plan
  • 08:19 – They charge by successful relationships that translate into contacts
  • 09:36 – The average business using Batchbook pays 42$ a month
  • 09:51 – Pam looked at things in terms of 10K increments while Batchbook grew
  • 11:00 – For the first 10K in revenue, Pam’s priority was getting Batchbook’s name out through word of mouth and telephone (this was before Facebook was popular)
  • 11:51 – As a business grows, it gains more sophisticated channels for customer acquisition
  • 13:01 – Batchbook uses channels like Facebook, Twitter, and LinkedIn for customer acquisition -Targeting a very specific type of customer is usually more successful
  • 13:31 – A big part of Batchbook is its integration with other software products
  • 14:28 – Batchbook’s churn rate is private, but the majority of customer’s will stay into the second month (mostly because of the free 30 day trial)
  • 15:45 – After the second month, Batchbook has over a 95% retention rate
  • 16:13 – Currently Batchbook isn’t seeking outside funding
  • 16:30 – Pam’s team is launching a new standalone product in the first quarter of next year
  • 17:25 – Currently Batchbook is not at break-even due to marketing spend investments
  • 20:07 – Famous Five

Related: Want to learn how to go from $0-$10k/mo in revenue fast? Join Nathan live on the Starter Tribe Beta free workshop.

Famous 5:

  • Favorite Book?— The Upside of Down by Megan McArdle and The Hard Thing About Hard Things by Ben Horowitz
  • What CEO do you follow?— Chris Schroeder
  • What is your favorite online tool?— Slack
  • Do you get 8 hours of sleep?— Pam gets 1 to 24 hours of sleep every night – highly dependent on her three kids.
  • If you could let your 20 year old self know one thing, what would it be?— Continue to learn and make mistakes instead of concentrating on doing everything right.

 

Resources Mentioned:

 

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! Join the Top Tribe at http://NathanLatka.com/TheTop

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 http://NathanLatka.com/TheTop

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