In Episode #136, Nathan speaks with Vincent van de Poll of GROM—a company that does scalable, on-demand 3D printing for retailers. Listen as Nathan and Vincent talk about making the leap from $85K in annual revenue to $2.2 million, and why splitting equity 50/50 is hard, but not impossible.
- Favorite Book?— The Four Hour Work Week
- What CEO do you follow?— No
- What is your favorite online tool?— Asana
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?— Fail often, fail fast. Don’t be afraid to fail.
Time Stamped Show Notes:
- 01:00 – Nathan’s introduction to today’s show
- 01:29 – Vincent joins the show
- 02:00 – Grom did $20K in topline revenue during October 2015
- 03:40 – Search for “’Minion’ or ‘Inside Out’ phone case” on com to see some of GROM’s products
- 04:55 – What GROM does that’s different from other 3D printing companies
- 06:15 – GROM’s revenue percentages ranges per deal
- 07:15 – Net margins typically range between 40-60%
- 07:39 – Founded in 2012
- 08:28 – Splitting equity
- 09:00 – GROM consists of 7 team members at the moment
- 09:15 – Have raised $180K thus far
- 10:38 – Total revenue in 2015 is $85K
- 10:48 – Going from $85K in 2015 to $2.2 million in 2016
- 13:00 – The Famous Five
3 Key Points:
- Don’t be afraid to split equity 50/50, but know that it doesn’t come without consequences.
- Growing revenue by more than 20X isn’t impossible, but it takes WORK.
- Fail fast and often.
- Hey Top Tribe!—In case you missed yesterday’s episode (#135), check it out here!
- Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects
- @MrVandePoll – Vincent’s Twitter
- The Four Hour Work Week – Vincent’s favorite book
- Asana – Vincent’s favorite software tool
CoFounder of GROM: Make Things Personal @500 Startups Batch 13, Entrepreneur, 12 years’ experience Retail & ECommerce, 3D Printing. Football Player. Lived and worked in 4 continents. Specialties: Gettingshitdone, Deal Closer, Growth Hacker, Sales, Marketing, Business Development, putting a smile on your face.
- Show Notes provided by Mallard Creatives