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Khaled Naim. He\u2019s the CEO and co-founder of the company called Onfleet, a software company that makes it easy for businesses to manage local delivery operations. He holds an MBA from Stanford\u2019s Graduate School of Business and studied computer engineering at The University of Michigan. He grew up between London and Dubai. He\u2019s currently residing in San Francisco.

Famous Five:

• Favorite Book? \u2013 Venture Deals
• What CEO do you follow? \u2013 Elon Musk
• Favorite online tool? \u2014 Gusto
• How many hours of sleep do you get? \u2014 7-8
• If you could let your 20-year old self, know one thing, what would it be? \u2013 Khaled would tell himself to do something that he\u2019s really passionate about

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Time Stamped Show Notes:

• 01:14 \u2013 Nathan introduces Khaled to the show
• 01:47 \u2013 Onfleet is a B2B software product that helps delivery companies manage and analyze their local delivery operations
• 02:18 \u2013 Onfleet provides apps for drivers, dispatching dashboards for the dispatchers, analytics and write-up optimizations and algorithms
• 02:29 \u2013 Onfleet charges monthly depending on the delivery volume
  • 02:35 \u2013 The larger the business, the more deliveries they do
• 02:42 \u2013 Onfleet is a SaaS business
• 03:30 \u2013 Blue Apron is different because they don\u2019t deliver locally, but ship using FedEx
• 03:42 \u2013 Onfleet\u2019s focus is on companies who deliver their goods locally
• 04:16 \u2013 Onfleet was launched in April 2015
• 04:46 \u2013 Team size is 15 and all are in San Francisco
• 04:40 \u2013 Onfleet has raised $4.5M in total funding, so far
• 04:55 \u2013 If you can bootstrap, it is a good option
  • 05:13 \u2013 There are factors that lead to the decision to raise funds
  • 05:18 \u2013 If you\u2019re not generating enough money to support the team, then raising capital is a good option
• 05:45 \u2013 It was 30 years ago when Khaled launched Onfleet
  • 05:51 \u2013 Khaled, together with his co-founder, started Onfleet while he was still at Stanford\u2014this is also where they met their CTO
  • 06:28 \u2013 Khaled, with his co-founders, attended Stanford\u2019s Accelerator Program in 2012
• 07:17 \u2013 Onfleet raised a convertible note round and an equity round
• 07:38 \u2013 Onfleet offers a 30-day free trial for new customers
  • 07:48 \u2013 After 30 days, they need to enter their credit card information
  • 07:55 \u2013 Onfleet\u2019s pricing is very transparent and can be easily calculated on their website
  • 08:30 \u2013 The telephone services are the call and text messages that run through Onfleet
  • 08:38 \u2013 The customer receives notifications automatically regarding the driver\u2019s status
  • 09:16 \u2013 The cost varies primarily on the market
• 09:53 \u2013 Onfleet is currently serving 300 customers
• 10:10 \u2013 Onfleet\u2019s pricing page is really nice and easy to navigate
• 10:34 \u2013 Onfleet\u2019s average customer is between the standard and premium tier
  • 11:06 \u2013 Some of the customers are paying the north of 10K a month
  • 11:13 \u2013 Average customer pay per month is $400-500 a month
• 11:56 \u2013 Onfleet doesn\u2019t track the number of tasks during the free trial
• 12:38 \u2013 Onfleet helps businesses to scale their business
• 13:10 \u2013 Onfleet\u2019s net MRR churn is more negative than negative 5%
• 14:10 \u2013 Everything in Onfleet is pay-per-use or pay-as-you-go
• 14:40 \u2013 There are customers who start using Onfleet, then leave
  • 15:27 \u2013 Onfleet doesn\u2019t have much customer churn
• 16:05 \u2013 CAC is around $1500 per customer
• 17:08 \u2013 LTV is around 18 months
• 17:37 \u2013 Onfleet\u2019s customers are categorized
• 17:47 \u2013 Onfleet is slowly moving to more larger accounts
• 19:20 \u2013 The Famous Five

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3 Key Points:

1. You can start a business without a capital \u2013 just find a way to it.
2. If you\u2019re not generating enough money to support the team, then raising capital is a good option.
3. No matter what, follow your passion and you\u2019ll be alright.

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Resources Mentioned:

• The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Organifi \u2013 The juice was Nathan\u2019s life saver during his trip in Southeast Asia
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Freshbooks \u2013 Nathan doesn\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW

Show Notes provided by Mallard Creatives