Scott Hansbury, CEO of YouStake, a company that gives poker fans the ability to stake their favorite players in real, fully-licensed tournaments. As a 53 year-old entrepreneur and former Sun Microsystems executive, Scott is a goldmine of business insight—listen as he shares those insights with us on today’s show.
Time Stamped Show Notes:
01:18 – Nathan’s introduction
01:45 – Welcoming Scott to the show
02:00 – Giving up the corporate world
02:46 – Talking successful exits
03:32 – Mezzanine round of funding
04:00 – ARR was $15M when they sold to Sun Microsystems at $400M—during the silly days of the internet ‘99
05:31 – Staying motivated when you’re “Set for life”
07:15 – Staking in the poker industry
08:19 – Person to Person sponsorship—IRS approved!
08:44 – Bootstrapped to launch
10:25 – How the betting/staking works
11:08 – So far, YouStake has garnered $2.8M stakes and $1.4M pledges
12:30 – There are a shitload of poker fans worldwide
14:24 – The average stake is $340
15:13 -- %5 goes to YouStake and 2.9% goes to fee processors
15:53 – Registered and Active Users are the two metrics that matter most to YouStake
16:41 – User acquisition is done through social media
17:53 – Scott@YouStake.com
Favorite Book? – The Innovator’s Dilemma
What CEO do you follow?— Jeff Bezos
What is your favorite online tool?— Wunderlist
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be?—Spend more time conducting 24-sponges, filter, and then apply.
3 Key Points:
Think about building a business overseas—America isn’t always the best place.
Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for.
Host Gator - Powerful web hosting made easy and affordable.
Wunderlist – The online tool Scott can’t live without
The Innovator’s Dilemma – Scott’s favorite business book
Jeff Bezos – The CEO Scott closely follows
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