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Mike Winn. He\\u2019s the CEO and founder of the company called DroneDeploy, the leading cloud-software platform for commercial drones and he\\u2019s on the mission to make the sky successful and productive for everybody. The company focuses on the agricultural and construction industries, but its large customers are from almost every industry across 130 countries. He has collected more than 8M acres of aerial imagery. Prior to joining Deploy, Mike worked at Google and was a RC helicopters hobbyist.

Famous Five:

• Favorite Book? \\u2013 The Effective Executive
• What CEO do you follow? \\u2013 Elon Musk
• Favorite online tool? \\u2014 Gmail
• How many hours of sleep do you get?\\u2014 7
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cYou can pretty much do whatever you set your mind to\\u201d

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Time Stamped Show Notes:

• 01:26 \\u2013 Nathan introduces Mike to the show
• 02:20 \\u2013 DroneDeploy has raised $31M from VCs
  • 02:26 \\u2013 DroneDeploy had 3 rounds and the last one was in July 2016
• 03:00 \\u2013 DroneDeploy was launched in 2013
  • 03:05 \\u2013 It stated in Edinburg, UK and was moved to the USA
• 03:25 \\u2013 Mike got married in the middle of the incubator program
• 04:03 \\u2013 Mike\\u2019s wife, Carrie, has always been supportive
• 04:15 \\u2013 Mike was an account manager and selling AdWords at Google
  • 04:30 \\u2013 After 18 months, he moved to another team
• 04:56 \\u2013 Mike was 27 when he started DroneDeploy
  • 05:24 \\u2013 Mike had \\xa3100K grant money to back him up
  • 05:39 \\u2013 Mike was paying himself \\xa31500
• 05:53 \\u2013 DroneDeploy\\u2019s Twitter has unbelievable aerial imagery
• 06:05 \\u2013 DroneDeploy make software for drones
  • 06:13 \\u2013 Primary industries are agriculture and construction, but they also touch other industries that exist
• 06:43 \\u2013 DroneDeploy only focuses on software
• 06:56 \\u2013 DroneDeploy is a SaaS business
  • 07:08 \\u2013 Customers can try DroneDeploy for free
  • 07:12 \\u2013 For commercial use, pay is $100 a month
• 07:26 \\u2013 DroneDeploy has 2 channels
  • 07:34 \\u2013 To get more accurate data and large 3D plans, try the business plan which is $300 a month
  • 07:44 \\u2013 The other channel is to expand by the number of seats
  • 08:21 \\u2013 One seat is $100
• 08:30 \\u2013 DroneDeploy has over a thousand paying businesses
• 08:56 \\u2013 The drone market is still young, but growing really fast
• 09:52 \\u2013 Team size is 60
• 10:15 \\u2013 Nathan publishes on Youtube\\u2014Check it out!
• 10:36 \\u2013 Mark Cuban predicted that the first trillionaire will be from the AI space
• 11:00 \\u2013 Mike\\u2019s co-founders have PhDs in machine learning
• 11:10 \\u2013 Mike sees the path of DroneDeploy becoming a trillion dollar business
• 12:03 \\u2013 In the future, you don\\u2019t only want drones to collect data but to take action as well
• 13:07 \\u2013 DroneDeploy currently works with B2B
• 13:32 \\u2013 What is interesting about drones is the technology community
• 13:50 \\u2013 Drone provides the bird\\u2019s eye view for the farmers
• 14:23 \\u2013 One of the farmers who used DroneDeploy found a fungus when he saw that a certain part of the land was different in color
• 15:02 \\u2013 In construction, it easier to work around with a drone especially when there\\u2019s a disaster, like an earthquake
• 15:47 \\u2013 CAC
  • 15:55 \\u2013 DroneDeploy has a successful blog
  • 16:17 \\u2013 DroneDeploy has an NPS of around 40
• 16:52 \\u2013 6 people in the team are on sales and the rest are engineers
• 17:15 \\u2013 Churn
  • 17:45 \\u2013 The use of a drone is seasonal
• 18:01 \\u2013 DroneDeploy is looking at what the customers want to do and how they can get consumers to use drones throughout the whole year
• 18:36 \\u2013 MRR is around $100K
• 18:58 \\u2013 DroneDeploy still burns cash monthly
  • 19:30 \\u2013 DroneDeploy can still manage until 2018 without additional capital
• 20:27 \\u2013 Mike would bet on DJI winning the drone hardware space
• 21:38 \\u2013 The Famous Five

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3 Key Points:

1. The drone market is still very young, but is growing rapidly.
2. The future of the AI industry is promising and it\\u2019s very likely that the first trillionaire will be from the AI space.
3. You can turn your hobby into a business, just put your mind to it.

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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