20 min listen
EP 327: This B2B SaaS Companies Prevents Death With Wearables
EP 327: This B2B SaaS Companies Prevents Death With Wearables
ratings:
Length:
21 minutes
Released:
Jun 16, 2016
Format:
Podcast episode
Description
Nathan Klarer, CEO at Bridgecrest Medical. Nathan’s building a B2B SaaS company that uses wearable technology to minimise accidents in mines and oil rigs. He’s 25 years old and has already raised $1.3 million. Tune in to hear about what’s next for wearable technology, how Nathan’s driving sales, and why he wishes he’d started sooner. Famous 5: Favorite Book? – Influence What CEO do you follow? — Larry Ellison Favourite online tool? — Nova Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? — To have more confidence in myself and start earlier Time Stamped Show Notes: 01:10 – Nathan’s introduction 01:50 – Welcoming Nathan to the show 02:17 – Before Bridgecrest, Nathan worked in equity finance 02:51 – Bridgecrest is a B2B SaaS company that incorporates wearable technology into a platform that helps heavy industries prevent accidents 03:38 – Currently using wearable technology to minimise the fatigue risk of oil rig operators 04:20 – Sell directly to the operations or tech managers of oil and gas companies 04:50 – Annual contracts are in 5-6 figures 05:12 – Customers pay monthly 05:37 – Companies take 3 or 4 year contracts 06:02 – Nathan’s background is in engineering - he saw wearable technology being used for health and decided to bring it onto heavy industrial sites 07:10 – Nathan is the sole founder but has given equity to important team members 08:10 – Have raised about $1.3 million in total 08:36 – “We needed to raise that capital to build the product we wanted to build” 09:07 – Most of the costs are engineering for analytic software 09:34 – Launched the product last year 09:48 – Currently have 10-20 customers 09:40 – “We’re looking to build deep relationships with our customers” - no one has churned yet 10:50 – Sales can come through a single site in heavy industry - followed by upsales at the corporate level 11:30 – Launched in the last quarter of 2015, and made less than $1 million 12:40 – Keen to be adopted by big industry players in 2016 13:45 – As the CEO, Nathan now spends more time working on sales than engineering 10:30 – Connect with Nathan on Twitter 15:20 – The Famous Five 3 Key Points: If you’re building a product, raise enough capital to get it right Getting the right team around you is all-important. Make sure your founding team complements your weaknesses and buys into the company’s vision Have confidence in your skills and your abilities. Start your company sooner. 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. Show Notes provided by Mallard Creatives
Released:
Jun 16, 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