$300k last 12 months To Help Sales People Find Perfect Gifts with CEO Greg Segall

Greg Segall

In Episode #552, Nathan interviews Greg Segall, the founder and CEO of Alyce – an AI-powered corporate gifting platform. He’s sold his previous company, One Pica, in December 2012, to one of the premier e-commerce agencies. He’s helped scale and aid several small retailers, taking them from smaller digit operations to hundreds of millions of dollars in sales.

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Famous Five:

  • Favorite Book? – Traction
  • What CEO do you follow? – Tim Cook and David Cancel
  • Favorite online tool? — Trello and Evernote
  • Do you get 8 hours of sleep?— Yes
  • If you could let your 20-year old self, know one thing, what would it be? – Greg would tell himself to network and stay focused

Time Stamped Show Notes:

  • 01:48 – Nathan introduces Greg to the show
  • 02:30 – Alyce is an AI-powered corporate gifting platform which suggests what to give somebody and the best time to give it
    • 02:40 – Greg shares why he built Alyce
  • 03:24 – Merchants pay Alyce
  • 03:49 – Alyce has partnered with over 450 merchants
  • 04:05 – If you buy a gift from Alyce, you’ll just pay for the SRP of the product
  • 04:27 – Alyce business’ model is subscription based and pay-as-you-go
  • 05:09 – Alyce gets more from subscriptions
  • 05:19 – Alyce was launched in December of 2015
  • 06:06 – Alyce was on beta until June 2016
  • 06:20 – First year revenue
    • 06:30 – Gross margin and net margin
  • 07:10 – Alyce just finished a round in September 2016
    • 07:19 – It was a convertible note
  • 08:02 – Nathan shares how it works with convertible notes
  • 08:36 – Greg shares the amount they will raise for an A round
  • 09:33 – Greg hopes to keep 60-70% after the convertible note
  • 10:04 – Number of merchants that work with Alyce
  • 10:22 – It is free for merchants to be part of Alyce
  • 10:29 – The gifter or companies pay Alyce on a transactional basis
    • 10:39 – There are around 100 companies
  • 10:50 – Alyce carefully curates the merchants who will be part of Alyce
  • 11:10 – Greg was asked by merchants if they can pay more for their product to appear on Alyce
  • 14:00 – The Famous Five

3 Key Points:

  1. Gifts that are chosen personally and at the right time make a significant impact.
  2. Use your problem as the motivation to find the best solution.
  3. Create a great network around you and stay focused.

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