SaaS Interviews with CEOs, Startups, Founders
EP 532: $1m Raised, $70k MRR to Record Sales Calls and Coach with ExecVision's Steve Richard
07 Jan 2017
Chapter 1: What is the main topic discussed in this episode?
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.
Chapter 2: What is ExecVision and how does it help sales professionals?
I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000 unit sold mark.
Chapter 3: How does ExecVision utilize call recordings for coaching?
And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the 100 bucks that I give away every Monday is Kim Dust. She's in the entertainment industry and is currently working a full-time day job and doing her side hustle on the side. Kim, congrats.
Chapter 4: What was the revenue growth strategy for ExecVision?
For you guys' chance to win 100 bucks every Monday, simply subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to officially enter. Again, text the word Nathan to 33444 after you've subscribed. So folks, something very nerve-wracking happened while I was on my way home for Christmas. I was on American Airlines Flight 1272, Flight 12D.
I get off the plane and I realized I left my MacBook Air 11 inch in that back seat pocket. I panicked because I have so much sensitive data on this computer because of all these companies I'm acquiring. I mean, hundreds of due diligence docs. So I needed that stuff secure.
Chapter 5: What challenges did ExecVision face in customer adoption?
I'm using a tool called Jamf Now, which allows me to manage on my Apple devices. I'll tell you what happened and you'll learn if I got my MacBook Air back. Midway through this episode. In the meantime, try Jamf now at NathanLatke.com forward slash secure. That's NathanLatke.com forward slash secure. Nathan Latke here. This is episode 532.
Coming up tomorrow morning, you'll learn from Kate and Tim.
Chapter 6: How does ExecVision measure customer success and retention?
They've raised $1.5 million and just passed $100,000 in monthly recurring revenue by helping 800 customers manage and track documents. Top Tribe, good morning. Nathan Lackey here. Our guest today is Steve Richard, and his mission and life's work is to help as many sales professionals as possible become wildly successful.
He's been featured in numerous publications, including the Harvard Business Review, the Washington Business Journal, and the Washington Post. Outside of work, Steve enjoys scuba diving, skiing, running, and watching lots of football. He lives in Arlington, Virginia with his wife, Ellen, and their four kids, all under the age of seven. Steve, are you ready to take us to the top? Let's do it.
Your company's CEO and for kids, what are you drinking in the morning?
Believe it or not, not coffee.
Generally, I'm out of the house morning at 5.30.
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Chapter 7: What is the significance of the $1M funding for ExecVision?
Try to get back just in time for the kids to start waking up and getting breakfast.
That's great. All right. Tell everyone real quick. So you're founder and CEO of execvision.io. Tell us what it does and how you make money.
Yep, exactly. So the whole idea is business and sales organizations have all these conversations. These conversations are assets to a company.
Chapter 8: How does ExecVision maintain a competitive edge in the market?
And what we're missing is the way sports coaches use game film on the field, going back to football in the bio where you started out. And as a business owner myself, I was always frustrated. We've got a lot of people on the phones, a lot of people doing demos, screen sharing meetings. I was frustrated that we didn't have the ability to do anything with those.
There was this call reporting paradox. So it's a exact vision is a software as a service product. And it's being used by about 50 organizations at this point.
Those are 50 paid organizations, Steve. 50 paid. Correct.
That's right.
Okay. And then walk us through exactly what they're paying for. Tell us about the product.
Sure. Sure. It allows you to access, analyze and share call recordings.
and understand what's going on inside because there's like i mentioned before this call recording paradox i always our business had call recording nathan and nobody did a darn thing with them we had this big pile of unusable call recordings even doing something simple like listening to it and saying oh you really need to hear a minute 309 something interesting happens here
was virtually impossible. So we solved all those problems. And we're also solving problems around reporting on things like, are your salespeople talking too much versus are they listening enough? Are they asking questions? How can you build a library of the best calls for onboarding new people in your organization?
And okay, so I have some questions about the product. Before I do that, though, help us understand just kind of customer size. So on average, what's kind of the average customer paying you per month?
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