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Cody McLain

๐Ÿ‘ค Speaker
189 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

We've been experiencing 30% growth every single month

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

So from our level of growth and everything else that we've been able to do, as well as the fact that I haven't had to take any outside capital and been able to retain all my equity.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Yes.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

I, what, what, what that growth rate has been, has been kind of leveling off from, uh, it was actually quite, quite quicker.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Uh, I wouldn't say that we were even at a half a million in January.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

So, uh, 30% is kind of an average, uh, growth rate.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It wasn't even half a million.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Well, I like to actually refer to it.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It's actually not.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It's not a software product.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It's actually a service.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

The biggest barrier to entry was at first figuring out the actual market, trying to figure out exactly what is this that we're actually selling because we honestly didn't even know what we were selling the first few months.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

and then trying to figure out how to enter the market and trying to convince other startups to actually work with us i actually like to refer to it as oaas which is a term i coin called outsourcing as a service which is it's already a service but just trying to be in that that whole niche crowd but what i refer to it as is is scalable repeatable processes that need to be outsourced to a human

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And in our case, our barrier to entry was actually figuring out how to register a corporation in the Philippines, which is the place that we decided to go to and establish our own office over there.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And so we've been able to establish departments, people, hierarchy structure, et cetera, over there.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And then they were providing services to startups here based in the U.S.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Yes, and our profit margins are actually really, really good compared to what I was making in the hosting industry since there's no physical recurring leasing assets or anything like that.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

I like to say 40%.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Yeah, this is a whole new business.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

The other business is called supportmonk.com, and so that's still up and live and running.