In Episode #383 Nathan interviews Vincenzo Ruggiero, founder of Prospect.io. Vincenzo has a wife and two children, with one born just days ago. With the chaos of a new baby, Vincenzo has still found a way to support himself and his family and manage a new and growing business.
- Favorite Book? – Getting Real, Rework
- What CEO do you follow? — Joel Gascoigne
- Favorite online tool? — Freshbooks, Slack, Trello, Appear
- Do you get 8 hours of sleep?—No
- If you could let your 20 year old self know one thing, what would it be? — Be humble.
Time Stamped Show Notes:
- 01:15 – Nathan introduces Vincenzo
- 01:40 – Prospect.io is a sales software
- 02:00 – Recurring revenue from monthly plans
- 02:20 – Launched in January 2016
- 02:40 – June revenue was $17k
- 03:15 – Customer pays more the more they use it
- 04:10 – Average is $45/month
- 04:30 – How they have driven customers
- 04:50 – word of mouth
- 05:50 – Different types of customers
- 06:20 – Self-funded
- 06:45 – Team of 3
- 07:30 – The system in Belgium makes Vincenzo the sole founder
- 08:00 – Vincenzo started with other web businesses before he started Prospect.io
- 09:10 – His family (two kids)
- 09:35 – How he supports himself
- 09:45 – He lives off of savings and a very low salary
- 11:10 – The company breaks even
- 11:30 – Growth each month
- 11:50 – How they got such fast growth
- 13:15 – Customer churn is 6% monthly
- 14:25 – Customer acquisition cost is $50
- 15:00 – Lifetime value is $570
- 15:30 — @VincenzoR on Twitter
- 17:35 — The Famous Five
3 Key Points:
- Plan out financially how you be able to afford to start a new business.
- Don’t let your arrogance get in the way of your success.
- A success work life does not have to take away from a success home life.
- 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.
- Slack, Trello, and Appear – Online tools that Vincenzo uses for his business
- Show Notes provided by Mallard Creatives