SaaS Interviews with CEOs, Startups, Founders

EP 351: $50K Monthly Revenue, Finally Designers Can Quickly Give File to Developers with Anh Vu of Avocode

10 Jul 2016

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Anh Vu, the founder and CEO of Avocode - a tool to connect front-end designers and back-end developers and make fantastic collaboration simple. Anh's background is in design, but he's building a SaaS business with negative churn and great profits by being totally on top of his numbers. Famous 5: Favorite Business Book? – The Startup Playbook What CEO do you follow? — Hiten Shah Favorite online tool? — Chart Mogul Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? —Measure everything, be really data driven, and focus on retention Time Stamped Show Notes: 01:13 – Nathan's introduction 01:50 – Avocode makes it easy for front-end designers to share information with back-end developers 02:50 – The designer uploads the design into Avocode, where all the team can access it, leave notes, and make revisions. Then the developer can access all the design assets through Avocode 03:25 – As of May 2016, $50k MRR 03:57 – Launched in February 2015 03:54 – $250k annual revenue in 2015 04:20 – Currently working with the 500 Startups accelerator 04:53 – 2800 customers on one of two plans 06:00 – Average revenue per customer is $27 06:40 – Some users were on boarded in a pre-order process and pay less than average 07:17 – User churn is 7% monthly 07:28 – Net revenue churn is -1% 07:50 – Some users stay and purchase more and more seats - so revenue churn is negative 08:40 – Upselling more seats to your current customer base is a KEY SaaS strategy 09:23 – There are 14 people in An's team, based in the Czech Republic 09:43 – Monthly expenses are $35k 10:10 – They're profitable 11:20 – Currently spending nothing on customer acquisition 12:01 – The average business-plan customer stays for 18 months 13:12 – Most of the customer base is startups and enterprise businesses 14:00 – Growing at 15% month over month 14:18 – Planning to start their first capital raise in August 2016 15:20 – Discussing partnerships with companies like Adobe and Sketch 16:07 – Follow Anh on Twitter 18:45 – The Famous Five 3 Key Points: Upsell your current customer base Plan partnerships and exit strategies - early Measure everything Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Show Notes provided by Mallard Creatives

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