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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
Dec 11, 2016

Johnny Reinsch of Qwil which is a company that provides instant pay for the growing freelancer segment of the work force. He’s the co-founder and CEO and also a cryptocurrency nerd. Listen as Johnny shares how he shifted his career path and why Qwil is different from most startups.

Famous Five:

  • Favorite Book? – Zero to One
  • What CEO do you follow? –  Elon Musk
  • Favorite online tool? — Toptal
  • 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 didn’t have to go to law school”

 

Time Stamped Show Notes:

  • 01:24 – Nathan introduces Johnny to the show
  • 01:57 – Johnny got tired of making rich people richer so he started his own startup
  • 02:28 – Johnny shares his learnings from the cryptocurrency company
  • 02:50 – Qwil helps freelancers collect their pay on time
  • 03:21 – Qwil has a low price point
  • 03:40 – Qwil is a transactional based model
  • 04:05 – Qwil started summer of 2015
  • 04:20 – First year total transaction volume is in low seven figures
  • 04:51 – Target transaction volume for 2016
  • 05:05 – Qwil’s funding rounds
    • 05:45 – It is an equitable note
  • 06:07 – “We are not disclosing a round at the moment”
  • 07:20 – 2016 total transaction volume
  • 07:40 – Qwil has a similar metric with GMD
  • 08:51 – Some freelancers won’t release their payment right away
    • 09:35 – If freelancers keep their money in Qwil for 30 days, they won’t be charged any fees
    • 09:50 – Qwil can’t touch the cash of the freelancers
  • 11:30 – Qwil offers conveniences to the users
  • 13:28 – Profit margin base
  • 13:44 – Team size
  • 14:10 – Number of contractors who have used Qwil is in the thousands
  • 15:21 – “We are trying to make a freelancer’s lifestyle much easier than it currently is”
  • 17:10 – Connect with Johnny through his website, blog, and Twitter
  • 18:50 – The Famous Five

 

3 Key Points:

  • Be sure to USE and APPLY what you learned well.
  • Be in a unique niche where competition is not very tough.
  • School does NOT always lead you to your future, don’t let it narrow your scope.

 

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
  • @Qwil – Johnny’s business Twitter handle
  • Blog - Johnny’s business Twitter handle
  • Qwil.co – Johnny’s business website
  • Show Notes provided by Mallard Creatives
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