He’s Taken No Funding, Doing $2,600,000 Per Year With SaaS Business Webinar Ninja With Co-Founder Omar Zenhom

Omar Zenhom

Summary:
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.

Famous 5

  • 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:

  1. Forge your own path. Success comes from relying on your own strengths and skills, not by following other people.
  2. 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.
  3. Some of the best business ideas come from solving your own problems.

Resources Mentioned:

  • 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.