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How Steve Gatena Is Building Pray.com To Become The Next Multi-Billion Dollar Company

Published: Sept. 14, 2020, 1 p.m.

Steve Gatena, CEO of Pray.com, joins us today to talk about entrepreneurship and what it takes to run the world’s #1 app for daily prayer and biblical audio content. For Steve, being a successful entrepreneur is all about starting simple, building momentum and experience, practicing extreme ownership, and never forgetting the value of one’s networks. Our guest has an impressive background, and he starts by explaining the different companies he was a part of in media production, and how he made the transition from these service-based business models to becoming the CEO of a venture-backed tech firm. He talks about how some business models are more difficult than others to run and how fortunate he was to cut his teeth on easier ones which gave him the skills he needed to launch a software product firm, the most complex of all. We get into some of Steve’s secrets for running Pray.com so well, talking about the relationship between religion and marketing, building a global A team of investors and executives for a remote-first firm, and the value of self-awareness in hiring and delegating to staff. Steve also weighs in on how he made multiple pivots before landing on Pray.com's premium subscription business model, and what listening to one’s customer means when the audience and amount of user personas that subscribe to Christianity is so humongous. For all this and so many more amazing nuggets from Steve as far as books, tools, and other resources for building agile systems, be sure to tune in!

TIME-STAMPED SHOW NOTES:

[00:41] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
[02:25] Steve’s journey from the media production world to being the CEO of Pray.com!
[06:10] Using one business as a platform for another and how to be an entrepreneur.
[08:31] The story behind the helicopter gimbals invented by Steve’s partner.
[09:39] The secret to entrepreneurship: Get experience and build more complex businesses.
[12:11] Vital resources for building a startup, from books to courses and one’s network.
[13:58] Mike Jones, networking events, and how Steve built his executive/investor teams.
[19:50] The Pray.com podcast and how they make their money through subscriptions.
[21:37] Figures Steve is free to share: Subscribers, figures per year, growth rates.
[22:50] How Pray.com is optimizing their funnels based on different user personas.
[25:33] The strategy going forward: Adding value through content and community.
[27:44] Unexpected challenges and blessings Steve has experienced along the way.
[28:52] Energy Steve gets from his cofounders and what building an A team means.
[32:22] How Pray.com sources their global team of engineers, making them a remote-first firm!
[34:28] The value of joining peer groups and how well helping others scales.
[35:14] Steve’s hiring process and the best books on refining this methodology.
[37:17] Tools and books Steve uses to optimize agile systems at Pray.com.
[38:12] Core values and how Steve handles areas his knowledge lacks in being the CEO.
[42:19] Steve’s favorite tools and why he is switching from Mixpanel to Amplitude.
[43:36] Business model pivots, and how Pray.com arrived at the premium content model.
[49:06] Steve’s favorite business book; why he loves The Personal MBA.
[49:47] The most compelling essay or blog post Steve read recently: ‘Startup=Growth’.
[50:36] How to get in touch with Steve and learn more about Pray.com.

Resources From The Interview:

YPO

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