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