$100m Deck Builder: Bootstrapped to $100M Valuation

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Top Founders 24 min 3 speakers 8 chapters transcribed

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Transcript generated automatically by AI and may contain errors.

What insights did the founder share from the Founder 500 event?

Nathan Latka 0:00

Hey folks, hope your Q3 and Q4 is off to a good start. We just wrapped up Founder 500 in Austin, Texas. Hundreds of bootstrap founders showed up. It was an amazing time. I loved meeting so many of you. This interview today is a recording from that session, which you're gonna love because now we have visuals, we have the founder teaching, and I made every single speaker include their revenue graphs and real artifacts in their presentations. Without further ado, let's jump in. You are listening to Conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, CAC, valuation, or other metrics, the easiest way to do that is to go to getlatka.com and use our filtering tool.

How did Review Wave start and what was the initial business model?

Nathan Latka 0:51

It's like a big Excel sheet for all these podcast interviews. Check it out right now at getlatka.com. Please help me in giving Matt Prados from Review Wave a warm round of applause. Welcome, Mike. Welcome, welcome. This will be your mic. We'll grab a seat for you, get up here, get you featured. All right, so talk first. Guys, who knows about Review Wave? Have you used the product?

What strategies did Review Wave implement to automate patient reviews?

Nathan Latka 1:18

You've seen the product? You've heard about it? Okay, how would you describe Review Wave? Okay. You know this guy? New customer? All right.

Matt Prados 1:32

Perfect. Our product is definitely not for the SaaS market. It's for doctors.

How has the pricing model evolved for Review Wave over the years?

Matt Prados 1:40

So tell us more about that.

Nathan Latka 1:42

Yeah. What's the product do? ReviewWave. Doctors.

Matt Prados 1:45

Sure. So about six years ago, I was running a digital marketing agency and did an analysis of all our clients who was getting the most new patients. And I found who had the most reviews, got the most new patients because we're using the same website and same ads, all this kind of stuff. And so it literally started as a little side hustle. Let's just show them how to get reviews.

What key lessons can founders learn about team dynamics and co-founder relationships?

Matt Prados 2:03

Coaching didn't work. Everything we went to technology. It was manual. That kind of worked. But then we automated it by connecting to the electronic health records that they already use, which you've heard that strategy over the last couple of days, integrating into their stack. It was magic. We just automatically started asking the reviews. The reviews came in. They got more new patients. And, you know, that was the kind of the aha moment where we're on to something.

How does the founder manage financial growth and personal wealth?

Matt Prados 2:26

We've certainly grown way beyond just asking for reviews. We're in a complete recovery. Patient engagement engine, online scheduling, appointment reminders, automated campaigns. You know, it's a beast now.

Nathan Latka 2:38

Vertical integration is beautiful. Now, everyone wants to, I don't know about you guys, but some people my age, us millennials, they wake up in their bed and the first thing they look at is Snapchat on their phone or Instagram. Me, it's the Stripe dashboard. It's always the Stripe dashboard. It's did I sell while I was sleeping? And then I have a good day if you sell.

What are the implications of secondary funding for founders?

Nathan Latka 2:53

Everyone wants to wake up and see this on their Stripe dashboard. So what are we looking at right here? What does 25.53 in gross volume look like?

Matt Prados 2:59

Yeah. So, I mean, as you can see, it's not the hockey stick yet. We're still in the small, you know, upward tick, but it's doing the hard things over and over again, consistently growing. We've doubled year over year, every year for the first five years. And, you know, that's what it looks like. And it got us to, you know, these different graphs. I'm not a big graph guy.

How does giving back to the community influence business success?

Matt Prados 3:21

I'm actually in PowerPoint jail right now. Nathan had to walk me through because I don't do decks.

Nathan Latka 3:26

I'm like, Matt, you have such a fucking good story, but this deck is just not going to work. Just let me do the deck and let me just interview you. And he was game.

Matt Prados 3:33

You're letting us do it. So that's good. So, I mean, I'm just, I'm an operator. I don't go around. I don't speak on stages. You know, literally Nathan asked me to speak and I was like, no, I'm actually not going to come. I just... archive that email i was like i got too much shit going on i went home that night and then i felt guilty because i've been exactly where you guys are in these seats and needing to hear one or two nuggets that will allow you to go home and do something that'll change your business so uh i guilted myself into coming uh had no time to be here literally was he was trying to get me to do this deck while i was on my 25 year wedding anniversary in laguna beach and i was like i look really bad now