SaaS Interviews with CEOs, Startups, Founders

LTV, CAC, ARPU Numbers from SaaS CEO Michael Perry of Kitcrm.com EP 222

03 Apr 2016

Audio

Description

Michael Perry, owner of Kit, an online marketing software that lets people connect eCommerce sites to different social media platforms. Listen as Nathan and Michael talk about how they started their respective businesses, how they’re using Facebook to target clients today, and why Kit should be so attractive to entrepreneurs. Famous 5Favorite Book? – Search Inside YourselfWhat CEO do you follow?— Mark ZuckerburgWhat is your favorite online tool?— ClaraDo you get 8 hours of sleep?— NoIf you could let your 20 year old self know one thing, what would it be?— Nothing f****** matters Time Stamped Show Notes:01:15 – Nathan’s introduction01:43 – Welcoming Michael to the show01:47 – Defining small business survivalist 02:20 – How Michael currently makes money02:23 – The idea for Kit03:37 – How Kit started and how many clients currently working with it04:32 – No one wants to invest in technology for SMB—But they should!05:20 – “We didn’t want to be an agency, we wanted to become a software company and create a digital person that can work for SMB owners 24/7”06:16 – Right now, Kit has about 2000 paying customers08:22 – People have this misguided notion that everything on the internet should be free—this is simply not the case09:03 – Acquisition cost per customer is at $21 via Facebook11:26 – Kit is not a non-profit—it’s all about revenue11:48 – What revenue number would you love to hit in 2016? -$150,000-$200,000 MRR12:19 – Hitting those metrics is not an option13:26 – 99% of the time it’s the people behind the business that make the business GREAT13:34 – It’s better to have a good team than a good idea15:05 – @MichaelPerry [email protected] 3 Key Points:SMB business owners would be wise to invest in technology early—the long-term gains outweigh the upfront expense.Just because something is on the internet, doesn’t mean that it should be free.It’s your team—not your ideas, not your products—that make your business great. Resources Mentioned:Kit –an online marketing assistanceHost Gator - Powerful web hosting made easy and affordable. The Top is FOR YOU if you are: A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4) STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7) An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1) The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14). Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries. Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at http://NathanLatka.com/TheTop

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