Prospect.io $0 to $17k in MRR in 6 Months, 400 Customers

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.

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Famous Five:

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:

  1. Plan out financially how you be able to afford to start a new business.
  2. Don’t let your arrogance get in the way of your success.
  3. A success work life does not have to take away from a success home life.

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.
  • Slack, Trello, and Appear – Online tools that Vincenzo uses for his business
  • Show Notes provided by Mallard Creatives

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