What’s your background and what are you working on?
Back in 2009 I was a spiritual coach to entrepreneurs. I tried to make it easy for entrepreneurs to access my content and I didn’t find an easy way to do it, so I invented Simplero. I’ve focused on the product for about 1 hour a day over the last several years and have built it to more than 700 customers paying about $150/mo on average.
What is Simplero and how do you make money?
Simplero is a tool for people to sell courses online and other things that don’t have to be shipped. We do email marketing, marketing automation, everything related to money and getting paid, delivering content at the right time, and money and landing pages, all in one package.
We make money by selling a subscription.
How many customers in January 2017?
A little under 700. The average customer pays us about $150 per month.
We charge a monthly fee and a percentage of revenue. The more money our customers make, the more money Simplero makes. That makes our incentive structure aligned with our customers.
The average customer stays with us between 15 and 16 months.
How much money do you make each month?
We’re doing north of $100,000 per month in revenue.
10% comes from transaction fees and 90% from subscription fees. We max out at $333/mo paid annually where you pay 0% transaction fees.
Our annual average per customer is about $2100 per customer. We do between $100,000 and $150,000 per month.
What does your team look like today?
I’m based in NYC. We also have 2 people in Denmark, and 3 people on west coast, part time. The company started in Denmark. All together we have 6-7 full and part time teammates.
I’m proud that we do almost $500,000 per employee per year and that we’ve raised no outside money.
How’d you build the initial product?
I built the initial product based off my own need back in 2009. I’ve been able to do everything in under 1 hour a day generally. I launched Simplero in 2009 because I selling spirituality courses to entrepreneurs and couldn’t find an easy way to host my course material online.
You’re hugely profitable, what do you do with annual profits?
I invest heavily in myself. I spend a lot of money buying other peoples courses and I pay a healer $4,000 per month to keep me balanced.
We also continue to invest heavily in features and developing out the product.
This may sound cheesy but I really want to show the world a different way to live by integrating the right and left sides of the brain. The spiritual side with the entrepreneurial side. My big dream is to be special advisor to the President of the United States.
If I was advising the President right now I’d ask them the question:
“How do we maximize the contribution and happiness of each person?”
You’re advising me in the Oval Office right now, how do we measure happiness?
I’m not a big metrics guy Nathan. I just know that there is a sweet spot where people are supremely happy where work doesn’t feel like work and where people also happen to be contributing the most to society.
This sort of balance ranges from schools to work life to institutions. I want to help people find that magical flow spot.
How can you measure happiness?
The only way to measure happiness is to ask people. This is troublesome because its not best way to get data.
The point is happiness should also lead to higher productivity. So we could measure productivity if we argue that happiness and productivity are directly related.
What’s your favorite business book?
“There’s Nothing Wrong With You” by Cheri Huber.
What tool do you rely on to run Simplero?
Fastmail for email. Switched from gmail. Fastmail is super streamlined and easy to use. Very straightforward.
What do you wish your 20 year old self knew?
I would have invested in getting to know myself sooner!