In Episode #309 Nathan interviews Nicholas Haase, founder and CEO of Loot and Startup Drugz. Nick’s come out of the private equity industry and now wants to change the direction of marketing by tapping into the power of user-generated content. Tune in to hear what Nathan should invest his next million dollars into, why augmented reality is the future of tech, and where to buy a “9 to 5 is for the weak” T-Shirt.
- Favorite Book? – How to Win at the Sport of Business
- What CEO do you follow? — Elon Musk
- Favorite online tool? —Shopify
- Do you get 8 hours of sleep?—No. I’m trying.
- If you could let your 20 year old self know one thing, what would it be?—I wish I knew how important computer science major would have been
Time Stamped Show Notes:
- 01:13 – Nathan’s introduction
- 01:40 – Welcoming Nicholas to the show
- 02:20 – Worked in the private equity industry after an internship
- 03:10 – The people Nicholas worked with loved what they were doing
- 03:40 – Nicholas would invest $100 million in augmented reality if he had the juice
- 04:50 – Loot uses incentivised user-generated content to promote a brand
- 05:30 – People can upload photographs or actions and receive rewards according to their following
- 06:30 – Founded in 2012 and had only $200 topline revenue
- 06:50 – Topline revenue in 2015 was $500k
- 07:30 – Bootstrapped the app’s creation and raised capital following proof of concept
- 08:20 – Augmented reality can be many things – a Snapchat filter is augmented reality
- 08:46 – How do people value brands in the space that Loot works in?
- 09:30 – By recurring revenue or by number of contracts
- 09:55 – What’s Startup Drugz?
- 10:20 – An e-commerce company that sells merchandise based on entrepreneur humour
- 11:20 – In February 2016, total sales revenue was in mid-5 figures
- 12:30 – Connect with Nicholas via Twitter
- 14:05 – The Famous Five
3 Key Points:
- Understand some computer science. Even if it’s not your core competency, you’ll be grateful for the background.
- Nicholas thinks that augmented reality is the future of tech and entertainment
- Leverage your users and fanbase – marketing is effective when it connects users to other user-generated content
- 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