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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
Nov 27, 2016

Rob Nelson, founder and CEO of Grow – a business intelligence platform. Nathan came across Rob when he was doing research in the intelligence space and Grow provided a lot of good feedback. Rob is a listener of The Top and happily accepted Nathan’s invitation to be a guest on The Top.

Famous Five:

  • Favorite Book? – The ONE Thing
  • What CEO do you follow? –  Aaron Skonnard
  • Favorite online tool? — Calendly
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – “Don’t ever quit”

 

Time Stamped Show Notes:

  • 01:25 – Nathan introduces Rob to the show
  • 02:00 – Grow is a powerful business intelligence platform and made specifically for SMBs
  • 02:13 – Rob founded Grow in 2014
  • 02:25 – Rob had a software company which was bootstrapped
    • 02:34 – Rob struggled pulling up data from different platforms
    • 03:29 – Rob sold the company and had a great exit
  • 04:10 – Grow is a SaaS model and has subscription based pricing
  • 04:20 – Grow doesn’t charge based on the number of users
  • 05:10 – Grow charges based on the number of metrics used
  • 05:20 – Grow’s RPU is $600 a month
  • 05:30 – Users pay monthly but there’s a 12-month commitment
    • 06:06 – “If we can’t get them hooked with the product in the first 3 days, they can walk away”
    • 06:18 – 75% of the people continue after the 30-day trial period
  • 07:05 – Rob doesn’t know their exact churn
  • 07:29 – Grow’s usage stats
    • 07:44 – Half of their customers log-in everyday
    • 07:50 – 92% of the customers are logging in at least twice a month
  • 08:00 – Grow is currently serving 600 customers
  • 08:08 – Rob started with the concept in January 2014
  • 08:30 – Rob hired a technical co-founder and gave him 20% of the business
  • 09:00 – Rob and his team are based in Utah
  • 09:45 – Team size is 70
  • 09:58 – Grow raised a series A round and seed round
    • 10:12 – Total amount raised was $13 million
    • 10:14 – Total of $9 million was raised in series A
    • 10:25 – Both are priced equity round
  • 10:44 – Rob is a huge fan of bootstrapping during his first venture
  • 11:28 – Rob decided to raise for Grow because bootstrapping just wouldn’t work
  • 11:50 – Total 2014 revenue is about $80
  • 12:20 – 2015 revenue is $150,000
  • 13:00 – Goal for 2016 revenue 
  • 13:33 – Rob closed the series A in July
  • 14:03 – Fully-weighted CAC is about $3,500
  • 15:00 – Why do you think Dasher didn’t work out?
    • 15:20 – “It’s hard to build a company on $20 or $30 a month”
  • 16:35 – Connect with Rob through his website
  • 18:05 – The Famous Five

 

3 Key Points:

  • USE your experience to IMPROVE your business.
  • Explore other options—if bootstrapped worked first, that doesn’t mean it will work again.
  • Don’t EVER quit.

 

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 the quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the 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.
  • Assistant.to – The site Nathan uses to book meetings with one email.
  • 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.
  • Grow.com – Rob’s business website
  • Show Notes provided by Mallard Creatives
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