In Episode #193, Nathan speaks with Jared Fuller (Recovering) CEO of PandaDoc, a company that’s focused on making the digitization of documents a simply smooth process. Listen as Nathan and Jared talk about venture debt, the hidden value of recurring revenue, and Jared’s famous title of “Recovering CEO”.
- Favorite Book? – Leadership and Self-Deception
- What CEO do you follow?— No
- What is your favorite online tool?— YesWare
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?—Understand the value of recurring revenue—stop relying on project based fees
Time Stamped Show Notes:
- 01:05 – Nathan’s introduction to today’s show
- 01:28 – Living as a “Recovering CEO”
- 01:55 – Recurring revenue is the way to go
- 02:09 – Screwed up lots of stuff, but that’s OK
- 02:23 – MRR before everything crashed
- 02:50 – Fought over stupid stuff that had nothing to do with getting customers
- 03:20 – Make sure you start a company with someone who’s done it before
- 04:12 – Get focused on getting shit done
- 05:55 – Talking about PandaDoc—going after the document as a whole
- 06:50 – How PandaDoc makes money
- 06:55 – Panda could be profitable tomorrow if it wanted to be
- 07:50 – Talking venture debt (Square1 and Silicon Valley Bank)
- 08:12 – The revenue and books on PandaDoc are SO good venture debt made sense
- 09:35 – 4% interest rate
- 11:00 – People raise money in a short-sighted way—huge mistake
- 11:45 – 25 team members in Belarus and 40 people in San Francisco
- 13:20 – The library of free templates is the secret sauce of PandaDoc’s SEO success
- 14:35 – The big deals are in outbound client acquisition
- 15:40 – Jared@PandaDoc.com
3 Key Points:
- Recurring revenue is the key to happiness and success.
- Start a business with people you can REALLY trust and (ideally) people that have done it before.
- Do NOT raise money in a short-sighted way.
- Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for.
- Host Gator – Powerful web hosting made easy and affordable.
- Leadership and Self-Deception – Jared’s favorite book
- YesWare — The tool Jared couldn’t live without
- Square1 and Silicon Valley Bank – The big players in venture debt
Show Notes provided by Mallard Creatives