20 min listen
EP 383: Prospect.io $0 to $17k in MRR in 6 Months, 400 Customers
EP 383: Prospect.io $0 to $17k in MRR in 6 Months, 400 Customers
ratings:
Length:
22 minutes
Released:
Aug 11, 2016
Format:
Podcast episode
Description
Vincenzo Ruggiero, founder of Prospect.io. Vincenzo has a wife and two children, with one born just days ago. With the chaos of a new baby, Vincenzo has still found a way to support himself and his family and manage a new and growing business. Famous Five: Favorite Book? – Getting Real, Rework What CEO do you follow? — Joel Gascoigne Favorite online tool? — Freshbooks, Slack, Trello, Appear Do you get 8 hours of sleep?—No If you could let your 20 year old self know one thing, what would it be? — Be humble. Time Stamped Show Notes: 01:15 – Nathan introduces Vincenzo 01:40 – Prospect.io is a sales software 02:00 – Recurring revenue from monthly plans 02:20 – Launched in January 2016 02:40 – June revenue was $17k 03:15 – Customer pays more the more they use it 04:10 – Average is $45/month 04:30 – How they have driven customers 04:50 – word of mouth 05:50 – Different types of customers 06:20 – Self-funded 06:45 – Team of 3 07:30 – The system in Belgium makes Vincenzo the sole founder 08:00 – Vincenzo started with other web businesses before he started Prospect.io 09:10 – His family (two kids) 09:35 – How he supports himself 09:45 – He lives off of savings and a very low salary 11:10 – The company breaks even 11:30 – Growth each month 11:50 – How they got such fast growth 13:15 – Customer churn is 6% monthly 14:25 – Customer acquisition cost is $50 15:00 – Lifetime value is $570 15:30 -- @VincenzoR on Twitter 17:35 -- The Famous Five 3 Key Points: Plan out financially how you be able to afford to start a new business. Don’t let your arrogance get in the way of your success. A success work life does not have to take away from a success home life. Resources Mentioned: 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. Slack, Trello, and Appear – Online tools that Vincenzo uses for his business Show Notes provided by Mallard Creatives
Released:
Aug 11, 2016
Format:
Podcast episode
Titles in the series (100)
Aweber Shares Revenue Numbers, Customer Count, Future: Nathan Latka brings you top entrepreneurs daily inspired by Tim Ferriss, Pat Flynn, John Dumas, Entrepreneur on Fire, Chalene Johnson, NPR, HBR, the StartUp podcast, Art of Charm, Dave Ramsey, Planet Money, APM Marketplace, Mixergy, Seth Godin, #AskGaryVe by SaaS Interviews with CEOs, Startups, Founders