TapChief Passes 75,000 Minutes Of Experts Teaching Students, $150k Raised, Team of 10 with 23 yo CEO Shashank Murali

Shashank Murali

In Episode #601, Nathan interviews Shashank Murali. He’s a BITS Pilani alumni. He’s a co-founder and CEO at TapChief – a platform to seek advice from industry professionals. Previously, he built and sold Edvice, an on-demand tutoring app, to HashLearn. He had a product for HashLearn before he decided to set on a path to democratize knowledge sharing with TapChief. Apart from startups and tech, Shashank enjoys cricket, psychedelic music, and swears by Pink Floyd.

Subscribe_Buttons_iPhone

Subscribe_Button_Android

iTunes, Google Play, Stitcher, Soundcloud, How to Subscribe

Famous Five:

  • Favorite Book? – The Everything Store
  • What CEO do you follow? – Vijay Shekhar Sharma
  • Favorite online tool? – Trello
  • 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 persist more”

Time Stamped Show Notes:

  • 01:25 – Nathan introduces Shashank to the show
  • 02:11 – Shashank shares what TapChief is
    • 02:25 – TapChief charges from the expert’s pay
  • 02:36 – TapChief is similar to Clarity.fm
    • 02:44 – Shashank shares how TapChief is different from Clarity
    • 03:14 – TapChief has a various of offerings
  • 03:25 – TapChief is a marketplace
  • 03:39 – The 2 sides of TapChief:
    • 03:45 – Experts ask for a consultation charge and TapChief gets a fee from that
    • 04:30 – Experts monetize their knowledge using TapChief
  • 05:33 – Average order size
  • 06:14 – Shashank believes that their market would still grow
  • 06:40 – TapChief was launched in a B2C play
  • 07:07 – TapChief takes 20% from the experts’ charges
  • 07:21 – Average number of experts in the platform
  • 07:31 – TapChief was launched in February 2016
  • 07:48 – Average number of students who have purchased from TapChief
  • 08:28 – TapChief is giving the experts options to present themselves better
  • 09:05 – 1000 out of 5000 experts in TapChief had conversations already
  • 09:31 – Shashank shares how they measure their growth
    • 09:58 – What Shashank primarily measures
  • 10:16 – TapChief has raised $150K with a team of 10
  • 10:40 – The number of hours TapChief has crossed
    • 10:50 – Average monthly minutes of interactions
  • 11:25 – Shashank shares how they leverage the number of students
  • 12:25 – Revenue goal for 2017
    • 12:42 – Shashank’s focus is on the number of minutes of interactions
  • 13:02 – Shashank’s plan is to grow the number of minutes
  • 14:10 – Shashank is open to B2B collaborations
    • 14:45 – Shashank explains why a business would pay for collaboration
  • 15:18 – Where the majority of the revenue is coming from
  • 15:46 – 2016 total revenue
  • 16:35 – The Famous Five

3 Key Points:

  1. We are experts in our own field and there are platforms where you can monetize your knowledge.
  2. You don’t always have to focus on the revenue—there are metrics that should be considered.
  3. Be more persistent—especially in the things that are most important to you.

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
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives