Problem Solvers with Jason Feifer features business owners and CEO’s who went through a crippling business problem and came out the other side happy, wealthy, and growing. Feifer, Entrepreneur’s Editor in Chief, pulls these stories out so other business can avoid the same crippling problems.
Hear the dynamic voices behind our featured podcasts. Our hosts interview experts in the field, founders who solved real problems in their businesses, sports icons that translated their success on the field into serial business achievements, and influencers that help us understand what makes excellence possible.
1094 How he bought 15 people off cap table, hit $9m in ARR in workflow space
Brian Reale is a serial entrepreneur. Prior to founding ProcessMaker Brian founded and later sold Unete Telecom, a long distance voice and data carrier in South America. Brian graduated from Duke University in 1993 and was a Fulbright scholar in linguistics in Ecuador 1994.
1093 If you're under 30, is agency/coaching a good way to make money?
Being one of Forbes' & Influencive.com's Top 30 Entrepreneurs Under 30, Jeremy C. Adams is not timid to climb the ladder of ultimate success. Armed with an impressive background in sales & digital marketing, at 22 years old, Jeremy went on to become the founder of Prestige Food Trucks, along with launching many other successful businesses including one with Kevin Harrington, a past investor from Shark Tank. Today Jeremy is focused on an exciting new venture with his close friend, Maxwell Finn, called Unicorn IQ.
1092 Why Chef Creator Raised $30m to Replace Walkie Talkies
1091 Founded in 1999, How He's Managed a 20+ Year "Overnight Success"
A serial entrepreneur, CEO and public company senior executive with 20 years of experience inInternet technology, VoIP, online marketing, eCommerce and mobile applications.
1090 CEO Eating Own Dog Food for $25m Revenue, $5.5m Gross Profit, $3m Net
Chris Ingham Brooke is the founder and CEO of Pub Ocean, a venture-backed technology company that helps digital publishing become profitable. Our mission is to provide publishers with the toolkit to automate and simplify audience development and ad operations, ultimately creating better content and building more sustainable companies.
1089 Workato CEO: "We're Enterprise Version" of Zapier, Segment, Elastoic
Vijay has led the creation of market leading integration technologies for over 25 years. Prior to Workato, he was the CEO of Qik, a consumer video communications company acquired by Skype. Before Qik, he helped create two multi-billion dollar integration products. He was part of the team that created world's first middleware platform, TIB (The Information Bus) at Teknekron Software Systems, which was acquired by Reuters Plc, in 1994. He was also on the founding team and SVP, Engineering of TIBCO through its IPO. As Chief Strategy Officer, he then helped launch Oracle's Fusion Middleware platform in 2005.
1088 How Ex-Salesforce Leader Launched Video for Salespeople Growing 100% YoY
Sati is a seasoned entrepreneur who loves building product, growing people and delivering customer value. He has both enterprise and start-up experience that enables him to transform an idea into a scalable company. He founded Zenkraft (the leading shipping platform for Salesforce), Eversauce (CRM for PR industry) and most recently OneMob, which has earned the support of Salesforce Ventures and was awarded Gartner Cool Vendor and Aragon Hot Vendor. OneMob makes video recording, sending and tracking easy for any professional, with powerful integrations into platforms like Salesforce, Cisco Spark, LinkedIn and more. Before starting OneMob, Sati spent 8 years at salesforce.com, where he built and grew the AppExchange from an idea to 2000 apps.
1087 Yeah I'd sell (Live negotiation)
Designer and entrepreneur who loves solving problems using technology.
1086 Sales outreach tool hits $1.2m ARR, would you sell for $4m? No!
1085 We're #1 In Salesforce for Call Routing, Tech with $10m+ in ARR
Joshua Tillman began building DialSource in 2005, while studying at the University of California, Davis, to seal the gap between business and consumers through analytics and automation. The engineering firm has since changed the way modern enterprises communicate, earning Product of the Year honors in 2016 and 2017. Tillman received the Sacramento Business Journal '40 Under 40' award in 2016.
1084 Bulgarian company spends $45k of $65k MRR on paid spend, working!
Murry founded Metrilo in 2014 to help eCommerce store owners grow their businesses. Other than spending lots of time with his customers and his team, he love to do trail running in the beautiful Vitosha mountain.
1083 How she 2x ARR yoy in mobile testing space to $6m in ARR
I'm the CEO of Apptimize! We're probably installed on your phone right now because we work with top 10 apps in every category in 100+ countries. Prior to co-founding Apptimize, I led the Fixed Income Quantitative Strategies team at GETCO after studying Math with CS at MIT.
1082 Why Public Sizmek Went Private to Fuel Growth via M&A in Buy Side Programmatic Space
Mark Grether is CEO of Sizmek. He focuses on guiding the company, and accelerating the growth of the business. Before Sizmek, Mark was cofounder and global COO of Xaxis. Under his leadership, Xaxis grew into the world's largest programmatic media company, with over $1 billion in revenue in five years.
1081 With $2m in ARR and $16m Valuation for 7+ Years, Do You Feel Stuck?
Eric Frankel is an innovative business leader with a proven track record in both traditional media and new-and-emerging technologies. He is the CEO and founder of AdGreetz, the industry's leading SaaS video personalization platform that is disrupting the $560b advertising marketplace by empowering brands worldwide to build stronger relationships with customers and exponentially increase engagement, activation and revenue by deploying billions of never-before-available, hyper-relevant, one-to-one, personalized video and display ads and messages, utilizing brand, social, third-party, geo/browser, publisher and user-generated data, delivered on the Internet and mobile via 18 channels. Prior to AdGreetz, spent 20-plus years at Warner Bros., most recently serving as President of Warner Bros. Domestic Cable Distribution (2000-2008). There he created new strategic architecture in the broadcast, cable and pay-TV landscapes, as well as advancements in new technologies including: VOD, HD and the internet. Frankel made numerous record-breaking sales and ground-breaking deals at WB.
1080 15,000 Customers at $35 ARPU is $500k+ in MRR right? "No"
1079 How He's Pivoted 3 Times Since 1996, Moving to Cloud Based SaaS w/ $10m in ARR
CEO & Co-Founder of CoreMedia. Recipient of the German Fairness Prize 2009. Co-Editor of eEnterprise 2.0 - The Art of Letting Go. Married, father of 4
1078 How agile content marketing solution Turtl hit $125k/mo
1077 We Bootstrapped Our Way to $2m in ARR, Now $10m ARR
Collin Holmes, founder and CEO, started chatmeter in August, 2009. Prior to chatmeter, Mr. Holmes was VP of Product Management and Marketing at V-Enable (now xAD). His extensive experience in the local search industry, both online and mobile, provides a solid foundation for the direction of the company. He has worked in leadership roles at several other startup companies and held other notable positions in product and marketing roles at Akamai Technologies and AT&T Wireless. He earned his MBA from San Diego State University and a BA from UC Riverside.
1076 We pivoted to pure play SaaS, now $1m in ARR growing 100% yoy
1075 LogicBay CEO: Love Venture Debt! Helped us pass $10m in ARR
As CEO of LogicBay, John works with leading companies to develop and implement strategies for scaling indirect sales channels using a combination of services and technology that LogicBay offers. He is also the co-founder of VetToCEO, a non-profit focused on helping veterans transition into being entrepreneurs.
1074 I left Wall Street trenches to do Email Business Intelligence
Michael Johnston is founder of Notablist.com, a competitive intelligence platform for email marketers. Prior to Notablist, Michael was VP of Technology at Critical Mention, where he led development of the firm's broadcast monitoring platform. Prior to his involvement with startups, Michael spent a decade in the Wall Street trenches.
1073 Are 5 Companies at Once Too Many?
Dr. Foroutan is a parallel entrepreneur and philanthropist with over 30 years of experience in Information Technology, Software Design and Entertainment industries. He is the Founder, Chairman and CEO of Contest Factory, Classitech, ZipTech Media, Virtual NGO and Invitation Records. He holds multiple US patents on Online Contest Systems.
1072 Boston CEO: "I'd think hard about selling for 2-3x ARR"
Matt Benati is CEO and Co-founder of LeadGnome, the market-leading Reply Email Mining web service that generates account-specific contacts, enhances existing leads, and identifies sales trigger events. Matt believes sales and marketing alignment, transparency, and communication optimize revenue generation, and he champions this philosophy in his teams and writings.
1071 His AI Tool Tells You How To Price Realtime
Adam is the CEO/founder of Arjuna Solutions, an artificial intelligence company. He invented and patented numerous AI technologies used today. At Arjuna, Adam is productizing specific applications of AI, starting with pricing. Adam is also a professor of Business Analytics at Johns Hopkins University and speaker on AI/predictive analytics for businesses.
1070 Navy Vet Makes Loads Via Lifetime Fitness, Now Digital Asset Management
Mike is the founder, Chief Enthusiasm Officer and inventor of the patented FISION digital asset management/ sales enablement platform. He attributes his experience serving as a US Navy Submariner and US Navy diver as the foundation to his success as a corporate executive and entrepreneur.
1069 Elastic CEO: We're A More Professional Zapier
Co-Founder and CEO of elastic.io
1068 SiteCake: We Rely on Whitelabel Partners With Unique Kickback Structure
1067 Vero CEO: "We're API Driven Email Marketing" with $150k+ in MRR
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"
Pini Yakuel is founder and CEO of Optimove, provider of the science-first Relationship Marketing Hub. Pini's extensive experience in analytics-driven customer marketing, business consulting and sales, along with his innovative approaches to entrepreneurship, business-building and marketing, have earned him recognition as a thought leader.
1065 He should sell for $300k. You agree?
655: Expensify 450k Customers Paying $9/mo for Expense Reports that Don't Suck with CEO David Barrett
David Barrett. He started programming at the early age of 6 and has been inspired to become an expense reporter ever since. He attended the University of Michigan where he worked in a virtual reality lab before moving to Texas to write a 3D graphic engine for the industry. Then, he moved to California to join a name that is probably familiar to many of you, Travis Kalanick, in building a peer-to-peer file transport technology called, Red Swoosh, which was acquired by Akamai in 2007. In 2008, David left that company to start Expensify—where he is today—and he’s trying to figure out the world’s frustrations, one expense report at a time. Famous Five: Favorite Book? – The Innovator’s Dilemma What CEO do you follow? – Travis Kalanick Favorite online tool? — G Suite How many hours of sleep do you get?— 6-8 If you could let your 20-year old self, know one thing, what would it be? – “I wish I had dropped out of college” Time Stamped Show Notes: 01:13 – Nathan introduces David to the show 02:36 – David was working on a debit/credit card idea and the banks weren’t happy with it 02:50 – Expensify is the corporate card for the masses 03:08 – David got into the space when there was so much room for disruption and pain points 03:40 – Travis’ first company is called Scour, which is an early file sharing network that got sued 04:06 – When David got into Red Swoosh, Travis was the only guy there 04:48 – David thinks that Travis is very articulate in communicating his vision 05:12 – David had equity from Red Swoosh 05:31 – Red Swoosh didn’t have a big exit 06:14 – Expensify charges $9 per active user per month 06:20 – Expensify is a mobile app—you take a picture of your receipts and the app will read all the details on the receipt, automatically 06:29 – The information will then be categorized, sent to your account, and you’ll get reimbursed the next day 07:10 – The company is only paying the active users 07:29 – Expensify’s price points are $5 and $9 07:40 – David started Expensify’s idea after Red Swoosh’s acquisition 07:56 – David left Akamai in 2008, then he worked on Expensify 08:00 – Expensify’s official launch is 2008 08:05 – Expensify’s team size is around 110 08:18 – Expensify has raised capital 08:27 – Expensify has raised a total of $25M 08:36 – Expensify has been a break even business for a long time 08:39 – “We grow primarily through revenue” 08:52 – The vast majority of Expensify’s growth is through self-finance 09:54 – The business itself is breaking even, but they’re always raising and experimenting on big experiments 10:31 – There are about 25K companies who use Expensify 11:03 – There are millions of individuals who use Expensify, too 11:32 – 10% of Expensify’s user base are paying customers 10:43 – 10% of 4.5M are paying customers 12:12 – “Churn is complicated” 12:33 – Expensify has a net negative revenue churn 13:05 – Expensify doesn’t advertise and they have 100% organic traffic 13:37 – Expensify had a few fundraising rounds 13:41 – In 2008, they had their first $1M round 13:43 – They did a few more in a couple of years 14:25 – David doesn’t talk with investors and hasn’t talked with them in years 15:27 – Expensify is something totally different from Salesforce 15:53 – Expensify doesn’t have salespeople 16:16 – Expensify’s primary revenue generator is their support team who follow up on deployments 16:43 – Pricing has been difficult and Expensify is still working on it 16:53 – Expensify was originally free and customers didn’t understand why 17:18 – David thought they needed a reasonable price point 17:31 – After choosing a price point, people became more comfortable and trusting 17:51 – Expensify’s competitors followed their pricing 18:37 – Expensify’s focus is on mastering the dynamics 19:06 – David thinks that, realistically, their pricing should be much higher 19:34 – David is planning on increasing their pricing 19:52 – “Because we don’t need the money, we’re focused on something else” 19:58 – “Maintaining an incredibly low price right now for the industry actually helps keep the competition out” 20:29 – People find Expensify through word-of-mouth 20:51 – “All of our emphasis is on building a product in a brand that generates an incredibly strong word-of-mouth” 21:34 – 99% of Expensify’s traffic is people searching for us 21:40 – The Famous Five 3 Key Points: Adding a paid option to your product can actually make your customers more confident in your product. Word-of-mouth is one of the best and cheapest ways to grow your traffic and client base, but your business has to be valuable for people. A college degree is NOT the only road to success. Resources Mentioned: 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 Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia Klipfolio – Track your business performance across all departments for FREE Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments 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 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
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