SaaS Interviews with CEOs, Startups, Founders
SalesProcess Did $1m Last Month Helping Brands Drive Sales, 40% Net Profit
20 Nov 2020
Chapter 1: How did SalesProcess achieve $1 million in monthly recurring revenue?
Yeah, so it's already past a million in terms of monthly recurring revenue the last few months. So the last few months have been, you know, probably month on month been growing about, I'd say, 15%.
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And you'll get interviews three weeks earlier from founders, thinkers, and people I find interesting. Like Eric Wan, 18 months before he took Zoom public.
We've got to grow faster. Minimum is 100% over the past several years.
Or bootstrap founders like Vivek of QuestionPro. When I started the company, it was not cool to raise. Or Looker CEO Frank Bien before Google acquired his company for $2.6 billion.
We want to see a real pervasive data culture, and then the rest flows behind that.
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My guest today is Darren Ong. He's a passionate executive director and co-investor for high growth SaaS and private equity and the private debt sort of ecosystems. He invested in food, fintech and sales process.io early on. Darren, you ready to take us to the top?
Yep.
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Chapter 2: What growth strategies does SalesProcess implement for clients?
I'm actually expanding for the Asia Pacific and Middle East.
Yep. Interesting. Okay, got it. So what would you say Nick helped you do to grow from $5 million in total transactions volume in 2017 to $18 million in 2019?
Yeah, okay. Great question. So in terms of the website, the landing page, the branding... What the foundational copyright for our solutions for Fluid FinTech was harnessed and re-emphasized to the target audience, which were the B2C users. So that was the first. Second was our packaging in terms of the services, basic, intermediate, advanced services.
Then also use cases, case studies, a lot of work went into driving the outbound prospecting at traffic.
Darren, sorry, the website gets like no traffic. I mean, I'm in the reports right now for Ahrefs and SEMrush. You don't even register on Alexa Traffic Rank as a top site, not even in the hundreds of millions. There's only two sites linking into the site. There's very little design. I don't even see pricing plans that you just described. Why don't I see any of that?
Are you at F-L-U-I-D-F-I-N-T-E-C?
Dot com, yes.
Sometimes it's, yeah.
I mean, I'm looking at the reports right now. There's no traffic. I mean, so when you say he drives you traffic via ads and built your inbound engine, well, there's nothing here to show for it. There's no traffic.
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Chapter 3: How does SalesProcess help companies identify product market fit?
You're filing a tax return. You put this number.
Yeah, $16 million.
$1.6 million?
Yeah, $1.6 million.
And what do you guys think it'll do in 2020?
Going by the $800,000... Going to touch easily... Easily about $20 million. Okay.
You said in 2019 it was doing $800,000 a month in revenue on average?
Yeah. So it's already past a million in terms of monthly recurring revenue the last few months. So the last few months have been probably month on month been growing about I'd say 15%.
How did you do $16 million in total revenue in 2019 if the average monthly recurring revenue was $800,000 per month? That would be about a $9.6 million in revenue, not $16 million. Where did the extra $6 million, $7 million come from?
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Chapter 4: What pricing strategies does SalesProcess recommend for SaaS companies?
$7,900? And how did he get to that number?
So... we've, we've got valuation, we've got, you know, uh, in fact, you know, the IRR and the, how, how he's, um, like doing the financial statements and so forth. So, so he takes it from, you know, the financial statements that, uh, come in, uh, you know, it's quarterly.
So, so what, I mean, maybe a better question is last month, what, what was profit? How much hit the bottom line is cashflow?
I think for each engagement at, say, $21,800, the profit looks at... Can we just look at the whole business?
So just all last month, September of 2020, what was total profit in September of 2020?
September, in percentage, it would have been around 40%.
What is it in a flat number?
Because we pay the commissions, right? So that's about, you know, it prorates to 20% or whatever. I understand that.
What's the flat number? Percentages are hard. 40% of a dollar is 40 cents. That's not that impressive, even though if it's profit, what is the actual profit number?
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Chapter 5: Who is Nick Cosman and what role does he play in SalesProcess?
the percentage of the... Darren, this month just happened.
Sorry, I don't understand why you're talking about percentages on projections. If you just look at September, you're about to close out September. What will total profit be in September?
It's not being computed yet. That's what I'm trying to say.
What was it in August? What was it the month prior then? The last month that you completed, what was profit?
In August, Give or take about $440,000. Okay.
And why do you guys decide to pay that out instead of reinvesting it back into the business? How do you make those decisions?
Yeah, so Nick actually has a lot of mastermind events now. So he's reinvesting a lot more on the strategies for the premium, the diamond package, where he's going to actually have a lot more tracks in terms of the mastermind events, seminars, and so on. So these are more on the...
uh, his diamond program, uh, that he, he meant, uh, sort of, uh, gives a, a very harnessed look in terms of, you know, uh, and so on. He, if you know the background, he, he was also, you know, previously mentored by all the, the greats, you know, like high low, high low pairs and, and so on.
Got it. I think people will make their own judgment.
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