Quit $180k Microsoft Job to Launch Own Startup with KarmaCircles CEO Deepak Goel

Deepak Goel

In Episode #401, Nathan interviews Deepak Goel, the mastermind behind his new company  KarmaCircles. Deepak says the company is the next-generation LinkedIn. He believes he has found his calling in life as an entrepreneur in the social networking niche.

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Famous 5:

  • Favorite Book? – Give and Take
  • What CEO do you follow? — Jeff Weiner, CEO of LinkedIn
  • Favorite online tool? — Mint, Appear.in
  • Do you get 8 hours of sleep? — Absolutely.
  • If you could let your 20 year old self know one thing, what would it be? — Don’t stay in a company for more than two years.

Time Stamped Show Notes:

  • 01:05 – Nathan introduces Deepak
  • 01:50 – KarmaCircles is an app that connects entrepreneurs with successful business people
  • 02:55 – Pilots with business schools and corporate companies
  • 03:15 – No money the first year
  • 03:30 – What companies are similar to KarmaCircles
    • 04:20 – A LinkedIn of the future
  • 05:00 – All free pilots right now
    • 05:45 – Why they are not charging for the app now
  • 06:40 – Will the customers pay when they make that shift?
    • 07:10 – If customers like the product, they will stay
  • 07:40 – Target annual contract value size
    • 07:55 – 500 users per month for business schools
    • 08:45 – It can be used by any company that does networking
    • 09:00 – Much larger contracts for corporate companies
  • 10:10 – Capital from six angel investors
  • 10:40 – 6 people on their team
    • 10:50 – They pay $3000/month for six engineers
  • 11:40 – Differences between them and the company Clarity
  • 12:00 – Social networking is Deepak’s “life calling”
  • 13:00 – Karmacircles.com/Deepak
  • 15:00 – Giving of yourself for free will circle back to you
  • 15:45 – The Famous Five

3 Key Points:

  1. Find the industry that you were made for.
  2. If you give to others freely, you will see karma come back around to you.
  3. Believe in your business and set high expectations.

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.
  • Mint – Deepak’s favorite online tool
  • Appear.in – A video conversation tool that requires no download