SaaS Interviews with CEOs, Startups, Founders
EP 361: 61 Customers $700k In Revenue, The Ultimate Sales Training Tool with Sam Caucci
20 Jul 2016
Chapter 1: What innovative approach does Sales Huddle use for training?
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 top. Five and six million.
Chapter 2: How did Sales Huddle evolve from consulting to a product?
He is hell-bent on global domination. We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the 100 bucks is Daniel Al-Soudini. He's based overseas. He's an employee at a current company and can't wait to break free.
Chapter 3: What revenue model does Sales Huddle implement?
For your chance to win 100 bucks, Top Tribe, simply subscribe to the podcast now and then text the word Nathan to 33444 to prove that you did it. Again, text the word Nathan to 33444 to prove that you did it. I give away 100 bucks every Monday. Top Tribe, this is episode 361. Coming up tomorrow morning, you'll hear from Tony Leonard.
He has 10,000 nurses paying him $110,000 per month to get certified. How does he do it?
top tribe good morning our guest today is sam kayuchi he's the found he founded sales huddle a training and development team that is using game technology to help organizations better prepare their people for the workforce with work delivered across north america europe and asia sales huddle has impacted people across organizations in a wide array of sectors with clients that include professional sports teams politics and government hospitality retail colleges and many more
They're applying an innovative approach to preparing people for the workforce, and Sam has oversaw the creation of the Training Game Platform, the first game-based platform that transforms the way an organization onboards, trains, and develops team members. Sam, are you ready to take us to the top?
Chapter 4: What is the customer acquisition strategy for Sales Huddle?
Ready to roll. I love competition, so anything that says game or platform, I like. Tell me what this thing is and how do you make money?
Yeah, so, you know, most corporate training today is, you know, either pretty antiquated, outdated, or just, you know, all out boring. You know, the way that we've been training people today has not really been disrupted or advanced training.
Still 90 plus percent of companies do training through, you know, the standalone Tony Robbins style trainer that they bring in or they they make you watch, you know, clunky, outdated learning videos. So what we do is we take companies, we help companies convert all of the information you need to know to be a high level sales or service rep.
We convert them into interactive trivia based games so companies can take the big clunky manuals, convert them into interactive games that are both mobile and web based. push games live to reps and create competition around something like training, which traditionally is not the most competitive topic in the office.
Yep, so talk dollars to me here.
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Chapter 5: How does Sales Huddle ensure customer retention?
How do you make money from this?
Yeah, so we have an upfront license fee. Clients pay an upfront license fee for us to build out their platform. Of how much? Anywhere between starting at $10,000 all the way up to $100,000.
Okay, got it.
And then there's an annual license fee, which covers the number of users. It starts at $10 per user per month and escalates up from there. We have companies that are...
So this is like a SaaS platform, Sam.
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Chapter 6: What challenges does Sales Huddle face in scaling?
You got it. Got it. Okay, cool. Now that that's helpful. Cause I was on the, I was on the site and I'm seeing a lot of really kind of great things. You talk about age 21 millennials have 10,000 hours playing games.
The magic number, according to Gladwell, you've got the game, the download, but the revenue model is a SaaS revenue model with, you know, your, your upsell and the way you get to negative churn is by adding more seats. Yeah, you got it. Okay. Okay.
Chapter 7: What are the financial goals for Sales Huddle's fundraising efforts?
So that's good. Now that people have a little bit of kind of a sense of, of kind of where the company is and what it does, what year, give us some more background. What year was the company founded in? We're founded in 2010. Oh, wow. Okay. 2010. And is this, is this your baby? Do you have co-founders?
Nope.
Chapter 8: What insights does Sam Caucci share about his entrepreneurial journey?
My baby. So yeah, I started the company. We started as a consulting company and, you know, spent our first two to three years running around the country, realizing that, And, you know, this is kind of a pain in the ass to do trainings one by one by one. So we started building the product and, you know, we launched the product in early part of 2014. And I've been kind of at the race ever since.
Okay. And one of my questions I always love asking, do you remember what your first year revenue was in 2014? I'm sure it's probably embarrassing, but.
2014, first year selling the games. We sold 20 platforms in year one. So we were just around $250,000.
Okay, so not horrible. That's actually pretty good. So what did you guys grow to in 2015 total revenue?
2015, we're just shy of 700.
Okay, 700. And is most of this coming from the kind of the setup fee or the monthly recurring seat plans?
Yeah, so, I mean, the biggest challenge for us has been most of our revenue with a new product has been up front, right? Because we didn't take any outside funding.
You're still self-funded, right?
Yeah, so we bootstrapped. We're now only starting to begin the fundraising process, but being totally bootstrapped, cash is king. We were trying to motivate everybody we sold to to pay us as much as they could up front.
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