Russ Heddleston. He’s the CEO and co-founder of DocSend. Previously, he was a product manager for Facebook. He arrived at the B2B acquisition of the product Pursuit.com. Russ also had roles in Dropbox, Greystripe and Trulia. He received a BS in Computer Engineering and MS Computer Science at Stanford along with an MBA from Harvard. Famous Five: Favorite Book? – Good to Great What CEO do you follow? –  Keith Krach Favorite online tool? — Gmail and Slack Do you get 8 hours of sleep?— Yes If you could let your 20-year old self, know one thing, what would it be? – “Do things well and be patient with them—and then, they will turn out well later”   Time Stamped Show Notes: 01:33 – Nathan introduces Russ to the show 02:03 – Pursuit was a human resources to management referral program for employees 02:22 – Russ shopped their company to Facebook 02:38 – Russ explains why they made this decision 03:38 – Russ was the product manager for Facebook’s pages team 03:55 – Russ worked both for the brands and personalities 04:15 – DocSend was launched in 2013 04:24 – DocSend’s first version was made in 2010 05:18 – First year revenue was zero 05:27 – “We were focused on growth” 05:50 – DocSend was doing something of very high value; not necessarily for a broad user base 06:40 – DocSend has been approached by a hedge fund 06:59 – Most salespeople are using DocSend long term 07:37 – Average customer pay per month 08:42 – Most deals of DocSend are outbound deals 09:00 – Average enterprise prices: 09:24 – The price varies from $50-90 per month 09:40 – Outbound target for a team of 30 and above 10:10 – Average contract value depends on the size of the company 10:30 – Team size is 25 with 6 sales people 10:42 – Team location is San Francisco with 1 in New York 11:08 – Pricing plan was introduced a year after DocSend launched 11:35 – The current number of DocSend’s paying companies 11:48 – There’s a mix of logo and seat count 12:04 – Average seats per company 12:45 – Total number of users under paid plan 13:03 – DocSend has raised capital for $10M in VC and $1M in venture debt 14:03 – Venture debt was done post-series seed 15:00 – Average MRR 16:16 – Possible minimum average MRR 17:00 – Russ shares the difference of inbound self-serve and outbound 17:25 – Russ gets excited with outbound 18:25 – Gross monthly customer churn 19:01 – The churn for self-serve is quite high, but not for outbound 19:45 – Net negative churn 20:12 – The expansion would benefit the team 20:38 – As the company gets bigger, the more they need DocSend 20:48 – DocSend closed their last financing last year 21:00 – DocSend doesn’t need to raise capital at the moment 21:25 – “We don’t need to get acquired” 23:00 – The Famous Five   3 Key Points: Focusing on growth rather than revenue is never bad thing. Improve your product until you are no longer expendable to your customers. Do things well and be patient with them—in time, they will turn out for the better.   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 Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your