SaaS Interviews with CEOs, Startups, Founders
EP 325: She Sold Her Busines to Bill Gates
14 Jun 2016
Chapter 1: How did Beate Chelette go from debt to selling her business to Bill Gates?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per talk. Five and six million. He is hell-bent on global domination.
Chapter 2: What unique business model allowed Beate to build her company without owning assets?
We just broke our 100,000 unit soul mark. And I'm your host, Nathan Latka. Okay, Top Tribe, remember, every Monday I give one of you a hundred bucks to invest in your idea to help get it to the top.
Chapter 3: What lessons did Beate learn about success and sharing information?
To enter, subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to prove it. Again, that's Nathan to 33444 to prove it. Last week's winner was Mike Shcherbakov. Mike runs his own internet business. He's doing between 100 and 500K per year. He's a blogger, author, and influencer building his business listening to the top.
Chapter 4: What is the significance of gender equality and diversity in business according to Beate?
This is episode 325. Coming up tomorrow morning, you will hear from Ilias, who breaks down how he quit his job during the Greece financial crisis and launched a media business. Top Tribe, good morning to you. I'm so good to be with you guys again. I love it. And our guest today, I think you're really going to love.
Chapter 5: How did Beate market her book 'Happy Woman, Happy World'?
Her name is Beate Chayet, and at her lowest point, she was $135,000 in debt, a single mother, and forced to leave her home. 18 months later, she showed her image licensing business to Bill Gates in a multi-million dollar deal. She's a nationally known gender decoder, respected speaker,
business coach mentor and consummate entrepreneur she's the author of happy women happy world as well as founder of the women's code a unique guide to balanced leadership personal and career success offering a new code of conduct for today's businesses private and digital worlds she's determined to build a community of women helping each other and took her formula and turned her life around into a book brian tracy calls an amazing handbook for every woman who wants health
happiness, love, and success. She spends her time supporting creative entrepreneurs to establish the business structure behind their ideas and has helped turn talents into six and seven figure businesses through online courses, live events, and one-on-one mentoring. Beate, are you ready to take us to the top?
Absolutely. Fire away, Nathan. I'm so excited to be here.
Chapter 6: What strategies did Beate use to build her email list and audience?
Very good. I'm excited to have you. So there's a lot of different things we can talk about here. Here's what I want to talk about first. The deal with Bill Gates. What was that image licensing company and why did Bill buy it?
Chapter 7: How does Beate define success after selling her business?
Well, it's all about supply and demand. So Bill Gates had been buying up a lot of stock licensing companies. One of them was a flagship company by the name of Outline, which was all into celebrity stuff. And I had figured out and how to sort of corner the market in the area of architecture and interior photography.
What I did not know when I started that is that as sort of a side product, we would be getting a lot of celebrity homes because duh, the best architects work for celebrities and the best interior designers, duh, work for celebrities. So next thing I have Madonna's house and I have Francis Ford Coppola, Simon Baker, Terry Hatcher, and a celebrity story after celebrity story.
And because my background is as a photo editor from Elle magazine in Germany, I knew exactly what to do. And suddenly, you know, we became the industry leader licensing these celebrity stories into 76 countries.
Chapter 8: What advice does Beate have for aspiring entrepreneurs?
And, uh, the Bill Gates company, Corbis was trying to find new revenue streams. And so they said, well, we want to add that to our celebrity licensing business. And I said, you can't have it unless you buy it. And then they said, we want it. And I said, I'm not cheap. And they said, we don't expect you to be. And then they paid me a whole bunch of money for it.
Interesting. Yeah. He Corbis was Corbis. He founded, I believe in 1989. Right. So, I mean, this was separate from Microsoft, but still a business that, you know, again, he created and started.
Well, you know, Bill Gates has several businesses that he owns himself. And Corbis, that actually was just sold about six weeks ago to a Chinese company. That was one of the businesses he owned himself outright.
That's Visual China Group, right?
Yes, yes, yes. The industry is crying. Yes.
Yeah. And then I think what they're going to do, probably license it back out to Getty outside of China or something.
Exactly. Which now effectively puts a monopoly in the hand of Getty Images, more or less, which is why the industry is very upset.
Yeah, that's interesting. Tell me real quick, because I'm not familiar with this business. The one that you built, I mean, when you sold it to Bill Gates, how much revenue had you done that previous year in the business?
We had done, we were at about a million dollars in revenue.
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