From Consultant to $300k SaaS with Amit Kothari of Tallyfy

Amit Kothari

In Episode #365, Nathan interviews Amit Kothari. He spent ten years in London dealing with some of the largest companies and organizations in the world and helping them with collaboration technology. After seeing a lot of failures in that industry, he realized he needed a very structured process with unstructured, human conversations to make his business succeed.

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Famous 5:

  • Favorite Book? – The Innovator’s Dilemma
  • What CEO do you follow? — Jack Welch and Warren Buffett
  • Favorite online tool? — DropBox, Xero
  • Do you get 8 hours of sleep?—Yes
  • If you could let your 20 year old self know one thing, what would it be? — “Never confuse movement with action.” –Hemingway

Time Stamped Show Notes:

  • 01:10 – Nathan introduces Amit
  • 01:45 – Tallyfy
  • 02:05 – The company’s program helps remove routine processes throughout the day
  • 02:30 – They started in Chili with a grant in 2014
  • 03:00 – Then they got a grant from the US
  • 03:30 – First year had no revenue
  • 03:45 – $300k in 2015, with $600k total
  • 04:15 – Paying customers
  • 04:50 — $39/month is the average that customers pay
  • 05:15 – Monthly revenue
  • 06:00 – They have several different services and processes
  • 06:35 – Pure MRR in April — $4000
  • 07:10 — Professional services is a huge chunk of revenue
  • 08:20 – Starting out with professional services brings in a lot of revenue
  • 08:50 – Team size is 5, with a few freelancers
  • 09:05 – Total capital $500000
  • 10:10 – Amit and his wife are cofounders
    • 10:25 – They have a rule to stop talking about work after 6 pm
    • 11:00 – They believe in their business
  • 11:45 — tallyfy.com and @tallyfy on Twitter
  • 12:00 – Consistency is the secret to a growing company’s success
  • 14:20 – The Famous Five

3 Key Points:

  1. Start a business that you believe in.
  2. Look for grants and funding opportunities.
  3. If you want to scale your business, you have to put effort into consistency.

Resources Mentioned:

  • 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.
  • The Innovator’s Dilemma – Amit’s favorite business book
  • DropBox – One of Amit’s favorite online tools, that allows businesses to share files online
  • Xero – Online accounting tool
  • Show Notes provided by Mallard Creatives