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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
Oct 16, 2016

Don Breckenridge, a life-long entrepreneur and the founder of Hatchbuck. Listen as Don shares how he made Hatchbuck a successful company and the struggles he endured to bring it to life. 

Famous Five:

  • Favorite Book? – Good to Great
  • What CEO do you follow? – N/A
  • Favorite online tool? — Lean Canvas
  • Do you get 8 hours of sleep?— No
  • If you could let your 20 year old self know one thing, what would it be? – “I wish I had mentored earlier”

 

Time Stamped Show Notes:

  • 01:41 – Nathan introduces Don  to the show
  • 02:00 – What is Hatchbuck and how it generates revenue
    • 02:05 – Sales and marketing software that  helps small businesses grow their revenue
    • 02:11 – CRM + email marketing
  • 02:39 – Price point starts at $59 a month
    • 02:50 – Subscription model as recurring revenue
    • 02:55 – Discount for semi-annual and annual subscriptions
  • 03:17 – Price increase is based on number of users and contacts
  • 03:55 – Average revenue per customer per month
    • 04:10 – When customers see results, they’ll start to use more of the product
  • 04:23 – Launched in 2012
  • 04:40 – Don had a SaaS company prior to Hatchbuck
    • 05:10 – The business was running smoothly
    • 05:20 – Don saw the need for SMB apps that could actually help businesses
  • 06:04 – Number of current users
    • 06:20 – Average number of users per customers
  • 06:40 – First year revenue
  • 06:58 – Self-funded before raised capital
    • 07:10 – Raised over $5 million
  • 07:28 – Series A or series B
    • 07:45 – Their investors are great supporters
  • 08:18 – The market of SaaS is an attractive business to invest in
  • 08:30 – Under $2M revenue in 2015
  • 09:00 – MRR computation
  • 09:32 – Churn
    • 09:59 – Have a product customer fit
    • 10:16 – “We tried to focus on who our customer is”
  • 10:51 – Gross customer monthly churn
    • 11:15 – Around 3% churn
    • 11:34 – In SMB, there’s an average of 3-4% churn
    • 12:00 – Hubspot 0% revenue churn
    • 12:25 – Companies that has negative churn that are not MSB
  • 13:00 – Fully inbound marketing
    • 13:10 – Produce a lot of content on the web
  • 13:40 – CAC ratio
    • 13:50 – “If your MRR churn rate bounces around, it starts to be really difficult”
    • 14:25 – Healthy ratio
  • 14:44 – Lifetime value
  • 14:48 – Acquisition cost
  • 15:00 – Paid media
    • 15:10 – Marketing courses, Google Adwords
  • 15:29 – Don is based in Missouri
  • 15:34 – Team size is 30
    • 15:40 – Some remote employees
  • 15:55 – The $5 million funding
    • 16:06 – “We’re always raising funds”
  • 16:32 – Goal for the company
  • 17:10 – Monthly revenue growth
  • 17:35 – Connect with Don through Hatchbuck.com
  • 19:05 - The Famous Five

 

3 Key Points:

  • Find a space to fill.
  • Aim for positive results – that is what will make customers hold onto your product.
  • It’s never too late to learn.

 

Resources Mentioned:

  • 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 quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • Hatchbuck.com – Don’s company
  • Show Notes provided by Mallard Creatives
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