Adam Robinson, CEO and co-founder of Hireology where’s he’s on a mission to help business owners make better hiring decisions using data and processes. He’s known in the recruiting industry, an expert speaker, and author with over 20 years of experience in the field of hiring and selection management. Famous Five: Favorite Book? – Crossing the Chasm What CEO do you follow? –  Phil Knight Favorite online tool? — Evernote Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – “Take more risks”   Time Stamped Show Notes: 01:35 – Nathan introduces Adam to the show 02:03 – Hireology is a talent technology platform built specifically for owner/operators 02:14 – Hireology helps the owner with the technology they need in their hiring and employment process 02:30 – Hireology has a monthly subscription plan 02:36 – Hireology is a SaaS business model 02:46 – Hireology is different from Toptal and Upwork 03:03 – Hireology was founded mid 2010 and the product was launched in January 2012 03:13 – Adam had a recruitment and outsource business before Hireology 03:28 – Adam learned from this business that their clients had terrible interviewing skills 03:32 – Adam created an interviewing system and clients started asking to buy it 03:44 – Adam sold the business 04:13 – Hireology first customers were from Adam’s personal and professional network 04:40 – Hireology is currently working with under 4000 individually owned businesses in USA 04:50 – Around 100 brands 06:20 – How Adam sees Hireology’s future 07:15 – Adam had a client who was responsible for 40% of their revenue for 3 years 07:35 – Hireology ended up doing 4000 hires for the company 08:00 – Average RPU per month is $300 per location 08:14 – Kickers Hireology is using to increase RPU 08:18 – Based on employee count per location 08:39 – Hireology doesn’t increase the price of modules but increases its numbers 08:50 – Most of Hireology’s system is proprietary technology 09:15 – Hireology has 7 close partners that they white-label and sell through their platform 09:30 – Average MRR is $1.2 million 09:47 – Gross monthly customer churn 10:35 – Hireology is an all-inside sales operation for up-selling 11:05 – Team size is about 100 11:11 – Based in Chicago 11:27 – CAC 11:40 – Between $7-10 depending on the client’s industry 12:22 – Lifetime value 12:45 – Adam wants a business whose name is on a sign and whose personal balance sheets are invested in the business 13:15 – “There are 7 million employers in the USA that nobody is talking to and that’s the market we want to be in” 13:27 – Find Adam in Twitter, LinkedIn and his website. Shoot him an email at arobinson@hireology.com 16:00 – Hireology was bootstrapped for the first 2 years and did an institutional raise in 2014 16:12 – Raised $26 million in 2 round from 2014-16 16:45 – The Famous Five   3 Key Points: Find your target market and tap into that market. Don’t rely on a client to stay with you forever—the sooner you accept that it’s part of the business, the better.  You need to TAKE more risks!   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 build