In Episode #358, Nathan interviews Khuram Hussain, founder of Inbox 2 and now Fileboard. The two companies reached multi-million-dollar worth, and Khuram provides insight into his two businesses and how they have succeeded. He gives us an idea of Fileboard’s revenue and what factors go into his company, which has grown to be worth millions in just a few short years.
Fileboard Revenue: $10 Million in 2015
- Favorite Business Book? – Zero to One
- What CEO do you follow? —Elon Musk
- Favorite online tool? — Trello
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be? — Not to go and run for corporate
Time Stamped Show Notes:
- 01:16 – Nathan introduces Khuram Hussain
- 01:44 – Khuram started Inbox 2 in his twenties.
- 02:31 – Khuram explains the history of how Inbox 2 started
- 03:15 – Inbox connects everyone from one single platform (Facebook, Twitter, etc.)
- 03:44 – Inbox grew to 60 million users
- 04:22 – Inbox was bought by MyLife
- 04:44 – Khuram valued the business by user base and engagement
- 05:05 – Inbox was a team of 12 people and self-funded when it sold.
- 05:46 – Inbox was a 6-figure sell
- 06:20 – Then Khuram moved to starting a new business, Fileboard
- 08:44 – Fileboard is a sales tool to improve the sales process of a company.
- 09:40 – It was launched in 2012.
- 10:03 – First year’s revenue was $0, and they grew over the years to about $10 million
- 11:06 – Khuram shares about a typical process with a company that purchases File Board
- 11:54 – Khuram explains their customer base.
- 12:35 – Average business pays $20k to $30k per year
- 13:14 – Khuram explains Fileboard’s investors
- 13:52 – Customer worth is two to three years
- 14:56 – Customer acquisition cost.
- 15:50 – Nathan talks with Khuram about MRR
- 17:30 – The company is based in Europe. Khuram discusses his team.
- 18:00 – You can connect with Khuram on LinkedIn
- 19:22 – Nathan goes over the Famous Five with Khuram
3 Key Points:
- Khuram had decided that the money from his first business would not mark the end of his business endeavors.
- Fileboard’s profits increased from nothing to millions within just a few years.
- The company’s customer acquisition cost is extremely low compared to what each business will pay to use Fileboard.
- 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