Top SaaS Planning Tool Hits $600k in MRR, 1800 Customers, $13M Raised, Growing Fast With CEO Liz Pearce

liz-pearce

In Episode #434, Nathan talks to Liz Pearce, CEO of LiquidPlanner–a fast-growing, Seattle based, maker of dynamic project management technology—and an active member of the Seattle startup and technology community. Listen as Liz talks about her passion in mentoring and advocating for technology and leadership.

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Famous Five:

  • Favorite Book? – Search Inside Yourself
  • What CEO do you follow? – “My Top 5 Customers”
  • Favorite online tool? — Mint
  • Do you get 8 hours of sleep?— No
  • If you could let your 20 year old self know one thing, what would it be? – “Don’t let go of your interest and you will always get something back when you give”

Time Stamped Show Notes:

  • 01:38 – Nathan introduces Liz to the show
  • 02:02 – What LiquidPlanner is and how it generates revenue
    • 02:08 – Project management software
  • 02:28 – How does the customer use Liquid planner
  • 03:13 – LiquidPlanner is a SaaS business model charge per user
    • 03:30 – Pricing
  • 03:52 – First year revenue in 2007
  • 04:01 – Worked as a marketing contractor of the business
    • 04:32 – What happened to founders
  • 05:13 – Raised total of $13 million
    • 05:39 – Liz raised the $10 million
  • 06:05 – Former CEO still active in the company
  • 06:30 – 2015 revenue
  • 07:16 – Negative revenue churn
    • 07:35 – Inbound driven model
    • 08:05 – Transactional business
  • 08:37 – Document storage
    • 08:50 – Team function
  • 09:16 – Average revenue
  • 09:29 – Gross monthly churn
    • 10:01 – Negative revenue churn
    • 10:09 – SMB market
  • 10:30 – CLTV
  • 10:48 – Lifetime value
  • 11:30 – Some are remote
    • 11:37 – Total team size
  • 11:43 – Number of customers
    • 12:01 – How many are enterprise?
  • 12:18 – Talking about acquisition or raising the next round?
  • 12:45 – Interested in raising more capital in the future
  • 14:07 – Microsoft project
    • 14:45 – Invest in scheduling engine
  • 15:03 – Revenue goal in 2016
  • 15:20 – Acquisition money expenditure
    • 16:05 – Total monthly expenditure
  • 17:15 – @lizprc
  • 19:30 – The Famous Five

3 Key Points:

  1. Believe in your product and what it can do to change the industry.
  2. Remember that karma bus drives in circles.
  3. Keep priority focus tight.

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • 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.
  • @lizprc – Liz’ twitter handle
  • Show Notes provided by Mallard Creatives