SaaS Interviews with CEOs, Startups, Founders
1571 Can You Figure Out Why He Won't Pay $30 to Get A $60/mo Customer?
12 Nov 2019
Chapter 1: What is the main topic discussed in this episode?
Launched, call it a couple years ago, back in 2017. So really actually just about two years ago. Now about 100 customers paying $65 per month. They're doing $6,500 per month in revenue on $150,000 raised. Again, $30 CAC, really helping social media managers with content and understanding how to do content. Got his first 100 customers from LinkedIn and Facebook. Hello, everybody.
My guest today is Jan Torsu-Andersen. He is the founder of a company called Somi Central. Somi Central is the first Somi tool of its kind, and they help companies to work closely together with employees for the purpose of boosting marketing, sales, or employee branding. All right, Jan, are you ready to take us to the top?
Oh, yeah, I am.
Okay, so give me an example of what the company does and what your revenue model is. How do you make money?
Well, it's just based on our... A regular monthly fee, that's it, basically.
So how much do people pay per month on average?
Well, you can have a free version if you want to, but it starts off with $65 a month.
Is that an average, though? Is that what the average customer pays?
Yes.
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Chapter 2: What revenue model does SoMeCentral utilize?
How much are you growing revenue by each month right now?
I don't want to go into the revenue right now. I think it's just a thing to be honest, maybe as a Danish cultural thing.
Well, just be clear. I only ask because you say you're growing really fast every month. So I'm going to ask you to support statements like that, that you make.
I'm saying we are growing. We are growing. Things are growing slowly because, uh, what we solve is actually a thing that most social media people have been taking as a granted as a, uh, what'd you call it?
Uh,
I'm struggling with my English, but it's a fact of life that they are missing out on photos and videos and they have been turning into Canberra where you have stock photos and stuff like that. And we are actually changing that because normally the collection of content has been hard for social media people and they turned into all the kinds of, uh, doing it themselves. So we need to change that.
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Chapter 3: How much does a customer typically pay per month?
And that is actually quite a challenge.
Okay. And bootstrap the company or did you decide to raise capital?
Well, we raised some capital right now. We are on a 1.32 million Danish corners, which will be around 150,000, $200,000.
Okay. And did you, is that equity or is that venture debt or convertible note?
It's actually just from people in my, my network, not my, what you call fools, fools, friends, and family. But these guys actually not family. They are people that I know from my business life.
Oh, okay. Very good. And okay. So you raised some capital there and what's the team size today? You and anybody else?
Right now we have three people and we have an external coding partner and it's a Danish company based in Thailand.
Okay. But all the three full-time are all based in our waste where?
Where we are around a one hour drive from, from Copenhagen, which is the capital of Denmark.
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Chapter 4: What challenges does the guest face in scaling their business?
Number four, how many hours of sleep do you get every night? How many hours of what? Of sleep do you get every night?
Around eight hours. And what's your situation?
Married? Single? Do you have kids?
I have kids. I'm not married, but I have a fiance.
How many kiddos? One. One. And how old are you?
I'm 53. My daughter's 15. And I relocated to my mother's house. So I'm living on a camping bed to make this happening.
I love it. That's hustle. Okay, so you're 53. What do you wish your 20-year-old self knew?
Oh, that's a hard one. I think it was to be able to listen more to my gut feeling.
Listen more to your gut. There you guys have it. Somi Central launched, call it a couple years ago, back in 2017. So really actually just about two years ago. Now about 100 customers paying $65 per month. They're doing $6,500 per month in revenue on $150,000 raised. Again, $30 CAC, really helping social media managers with content and understanding how to do content.
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