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Naeem Zafar

๐Ÿ‘ค Speaker
231 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

But we start setting up dealers.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

We set up two dealers already.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

The idea is to set up 20 dealers, bring the CAC down, customer acquisition costs of people who may not know CAC.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

So the idea is to be a typical customer should be...

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

let's say 20 to $30,000 upfront with about $10,000 recurring.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

And if you spend five to $10,000 in a customer like that, that's not too bad.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

I think if we, I have to compute more carefully, how many, uh, your idea is to make zero trips, send them a video and, and at FedEx box.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

And we have done that with few customer.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

It worked.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

So, you know, one of the largest companies, uh, you would know in the green is that's it.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

We send them five spears in a FedEx box for the video and a page and they installed it themselves.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

So my cap on that deal was literally like $200.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

Yeah.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

No, but CAC is different than my total expense.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

CAC is customer acquisition cost, which is the marketing spend to get that customer.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

Exactly.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

And as a professor of entrepreneurship, I'll insist they should have not mixed the two.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

That's a cloud scenario because I'm a professor.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

I teach this topic.

SaaS Interviews with CEOs, Startups, Founders
1753 "IoT AgTech Device Hits $1m Software Run Rate and $1.2m in Hardware Sales. Can He Get $60m Valuation? "

They must separate cogs from cack.