RevBoss $700k 2015 Revenue, Now $90k MRR to Help Customers Drive Revenue with CEO Eric Boggs

ericboggs

In Episode #544, Nathan interviews Eric Boggs. He’s the CEO at RevBoss – a sales prospecting SaaS company. RevBoss helps B2B sales teams grow pipelines and win more customers. Prior to RevBoss, he was the founder and CEO at Argyle Social and was a one-man sales team at Bronto Software. Eric is in North Carolina with his wife and 3 small children.

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Famous Five:

  • Favorite Book? – The Hard Things About Hard Things
  • What CEO do you follow? – Matt Williamson
  • Favorite online tool? – Stripe
  • Do you get 8 hours of sleep? – No
  • If you could let your 20-year old self, know one thing, what would it be? – “To not worry so much about the long term—that things just have a way of working themselves out”

Time Stamped Show Notes:

  • 01:35 – Nathan introduces Eric to the show
  • 02:10 – Eric shares what happened to Argyle
    • 02:42 – Argyle raised $1.5M
    • 03:52 – Argyle’s buyers
  • 05:32 – Eric was only 22 when joined he Bronto
    • 05:39 – Eric was a one-man sales team for 2 and half years
    • 06:32 – Eric went to business school after Bronto
    • 07:05 – Bronto is now an Oracle company
  • 07:12 – RevBoss is a SaaS company that helps B2B seller relations find more prospects and win more customers
  • 07:45 – In between the Argyle wind down and RevBoss, Eric was a consultant for a year
  • 08:20 – RevBoss’ competitors
  • 09:20 – RevBoss started as a services company and launched in September 2016
    • 09:47 – Building a services business is easy, growing it is hard and turning it into a SaaS business is much harder
  • 10:26 – Eric shares the weird things he encounters in the business
  • 11:07 – “We’re cannibalizing ourselves a little bit” in the short term, in regards to services revenue vs. recurring Saas revenue
  • 12:12 – Average customer pay per month
  • 12:28 – Weighted MRR
  • 12:39 – RevBoss raised a seed round for $1.1M
  • 13:45 – Eric sold 20% of the business for $1.1M
  • 14:50 – Total 2015 revenue
  • 15:01 – Team size and location
  • 15:41 – Projected LTV
  • 16:27 – CAC
    • 16:34 – All inbound sales
  • 17:20 – Gross churn
  • 17:59 – Eric plans for the worst after his experience with Argyle
  • 19:50 – The Famous Five

3 Key Points:

  1. Recurring SaaS revenue will beat out services revenue in the long run.
  2. Your worst experiences are your greatest teachers.
  3. Don’t worry too much about the long term—things just have a way of working themselves out.

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
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Show Notes provided by Mallard Creatives