In Episode #252 Nathan interviews Omar Zenhom, co-founder of Webinar Ninja. Omar and his partner Nicole used their years of education experience to develop software and training resources for webinars. Omar also hosts the $100 MBA show, a top-ranked podcast with over 50,000 downloads per day. Listen as Nathan and Omar talk through the process of building up Webinar Ninja – as always, with an eye on the numbers.
- Favorite Book? – Anyone Can Do It
- What CEO do you follow? — Myself
- What is your favorite online tool? — Slack
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be? — You’ll do better if you rely on your own strengths and skills – don’t look for a path through other people.
Time Stamped Show Notes:
- 01:10 – Nathan’s introduction
- 02:20 – Welcoming Omar to the show
- 02:30 – “Education is a performance”
- 03:00 – Of Omar’s projects, Webinar Ninja is currently generating the most revenue
- 03:30 – Over 500 episodes of the $100 MBA show since 2014
- 04:10 – What you really need to know about getting sponsorship for your podcast
- 05:05 – Currently use an agent, Midroll, to negotiate sponsorship deals
- 06:15 – Making around $15-16k in sponsorship per month
- 07:20 – Discussion of sponsorship models
- 08:10 – Webinar Ninja: “I was scratching my own itch”
- 08:50 – Omar and Nicole launched Webinar Ninja in April 2014
- 09:15 – From $65, $115, or $165 per month
- 09:40 – “We’re still testing prices and collecting data”
- 10:20 – Moved away from Google Hangouts to Web RTC
- 11:00 – Currently working with 2500 customers, 1900 of whom are monthly customers
- 11:30 – Average customer pays $115 per month
- 12:20 – MRR $200,000 from Webinar Ninja
- 12:30 – “We’re really into making everything we release completely stable”
- 13:15 – Churn rate of around 7% – that means 93% of customers stay on month-to-month
- 14:20 – Advertise through Facebook ads, public speaking, event sponsorship
- 15:00 – Paid $15,000 to sponsor Heroic Public Speaking
- 16:00 – Advertising spend of around $3.20 per customer
- 17:20 – 8 full-time team members on Webinar Ninja, all remote
- 18:00 – Total salary cost per month around $9500; all costs around $20,000 a month
- 19:15 – “I’m happy growing slow – I don’t really want to blow up”
- 19:30 – Omar says he wouldn’t sell Webinar Ninja right now
- 20:30 – Right now Omar’s investing profits back into his business
- 21:15 – How the affiliate program works
- 22:30 – Other major costs include security and server infrastructure
3 Key Points:
- Forge your own path. Success comes from relying on your own strengths and skills, not by following other people.
- It’s okay to grow slowly. You get to decide what you want from your business: stable, slow growth is no better or worse than being explosive.
- Some of the best business ideas come from solving your own problems.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- 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