21 Year Old Invests $500k To Re-Invent Webinars with Demio CEO Wyatt Jozwowski

wyatt-jozwowski

In Episode #509, Nathan interviews Wyatt Jozwowzki, co-founder and CEO of Demio, a smart, webinar platform on a simple mission. He’s passionate about creating a great customer and user experience. Listen as Wyatt shares about Demio; from its inception to a Wyatt creating a working, webinar platform that is earning a revenue from only a few days on the market.

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Famous Five:

  • Favorite Book? – The Hard Thing About Hard Things
  • What CEO do you follow? – Jason Lemkin
  • Favorite online tool? — Clarity.fm
  • Do you get 8 hours of sleep?— seven to eight hours
  • If you could let your 20-year old self, know one thing, what would it be? – “That it was going to be 10 times harder than I thought”

Time Stamped Show Notes:

  • 01:42 – Nathan introduces Wyatt to the show
  • 02:08 – Demio is a web-based webinar platform built for marketing
  • 02:18 – “We wanted to create a webinar platform that is actually easy and ready to use”
  • 02:35 – Demio was just launched in November 9th of this year
  • 02:54 – Wyatt has a company called Drip Apps as well
  • 03:12 – Demio is the biggest software project that Wyatt has ever  taken on
    • 03:15 – Wyatt has been working with Demio for 2 years now
  • 03:28 – Demio was in free beta for 3-4 months
    • 03:38 – People used Demio for their webinars for free
    • 03:48 – This was done to test Demio’s reliability and performance
    • 04:02 – Wyatt wants simplicity to be Demio’s platform
  • 04:51 – Wyatt has invested about half of million on Demio
  • 04:48 – Demio has a team of 3 developers, 1 designer, and 1 QA manager
    • 05:40 – Some of the team members are from Upwork and other online job postings
  • 06:21 – Wyatt got his funding from Drip Apps’ revenue
  • 06:53 – Wyatt got the idea of Demio from a suggestion
  • 07:30 – First software project of Wyatt’s was a video ranking platform
  • 07:45 – Drip Apps has Drip Core which has a $47/month subscription
    • 08:09 – 470 users have signed-up
    • 08:23 – Drip Apps was launched 3 years ago
  • 08:53 – Drip Apps’ 2015 revenue
  • 09:15 – Drip Apps runs independently of Wyatt, freeing him up to work on Demio
  • 09:52 – Demio was not really planned
  • 10:20 – Nathan refers to Episode 252 and how Wyatt reminds him of Omar of Webinar Ninja
  • 10:38 – Demio already has paying customers
  • 10:46 – Demio is a SaaS business model and they currently have discounted annual pricing
  • 10:59 – On launch day, Demio’s price range was from $237 a year to $497 a year
    • 11:08 – Price range increased on November 16th
  • 12:20 – Wyatt’s strategy for Demio
  • 13:10 – Having a webinar is not that easy and is very challenging
  • 13:40 – Demio is web-based and does not require any desktop software to be installed
    • 13:42 – Wyatt is currently focused on expanding browser and mobile support
  • 14:05 – There are a number of unique customers that have signed-up
  • 14:30 – There are customers who have asked for refunds
  • 15:49 – Connect with Wyatt through Twitter
  • 17:20 – The Famous Five

3 Key Points:

  1. There are huge challenges in the tech industry, but it’s definitely worth it to keep pressing on.
  2. Streaming in real-time is one of the most difficult things to achieve in a webinar.
  3. Be consistent in working out those hurdles and challenges.

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • 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 the quality of Toptal
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens and follow-up with email sequences
  • @WyattJawz – Wyatt’s Twitter handle
  • Upwork – Where Wyatt found his team members
  • Show Notes provided by Mallard Creatives