Ep 122 Jarie Bolander of LabSensor Solutions is an engineer by training, entrepreneur by nature and leader by endurance. Presently, he is the founder and COO of Lab Sensor Solutions, a company bringing sensor technology to healthcare to prevent medical errors.
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3 Key Points:
- Know your industry.
- Quality, quality, quality.
- Start slow and do a LOT of research.
Episode Notes:
- 01:15 – Nathan’s introduction to today’s Show with Jarie Bolander
- 01:25 – Lab Sensor Solutions
- 02:27 – Five founders discovered a need for their product
- 03:14 – How equity is split
- 04:10 – 4 year vesting period
- 04:22 – Sales process
- 05:09 – 85% margins
- 06:08 – Raised $420k seed money from friends and family
- 06:24– Who are the customers?
- 07:31– Break down of membership and service
- 07:33 – Business was launched in January after working on the sales platform for 2 years
- 07:47 – Current monthly earnings
- 08:30 – High touch sales process
- 08:45 – Growth hacking methods
- 09:25 – Average sale per customer after trial period
- 11:25 – $3k/month revenue
- 11:48 – Effect of affordable care act on Lab Sensor Solutions
- 12:44 – The Famous Five
Resources Mentioned:
- Lab Sensor Solutions—Jarie’s new venture, a B2B medical company that ensures blood sample integrity in transit.
- Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects without hiring full time employees.
- The Pumpkin Plan—By Mike Michalowicz
Famous 5
- Favorite Book?— The Pumpkin Plan By Mike Michalowicz
- What CEO do you follow?— Brian Clark
- What is your favorite online tool?— Slack
- Do you get 8 hours of sleep?—Trying
- If you could let your 20 year old self know one thing, what would it be?—Be confident that you can be your own boss. The people who tell you that you can’t are probably just jealous that you’re doing it.
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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.
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