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Mark Abbott

๐Ÿ‘ค Speaker
698 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

Now, the reality is for every coach company that's out there, there's about nine times as many companies that can't afford a coach because coaches cost like $25,000 to $30,000 a year.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

And our software makes it almost easy to master the tools without hiring a coach.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

And we're only $14 a seat per month.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

All right, so talked about the book.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

Yeah, so we just pay a license fee to EOS to use the terms.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

So we pay 10% of our revenues to EOS to be able to use their trademark terms in our software.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

We've got about seven trademark terms.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

So we're paying almost $100,000 a month for seven trademark terms right now.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

Cool?

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

All right.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

So as you can see, what's interesting is at first all the clients were coming to us through coaches.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

But now we've got a bunch of companies out there running on us.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

They're aware of us.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

They're telling people about us.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

I'll give you a couple punch lines here ahead of time.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

Net promoter scores go up and down because sometimes, you know, in software, everything's not working perfectly.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

But we're typically between 50 and 70 on net promoter score, which in the SMB space is pretty damn good, right?

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

I'm going to give you the really big punchline.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

If you use our system and you cascade it all the way down so everybody in your company is using our tools, including the feedback tool, our churn rate annualized is less than 1%.

SaaS Interviews with CEOs, Startups, Founders
He Used Community to Hit $7m Revenue, VC's chased him

That's in SMB, guys.