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Dimitris Giannoccaro. He founded IAMIP, in 2013, after an extensive career in engineering and intellectual property together with some of the strongest leaders and inventors at ABB. The urgent need for digitizing an intellectual property world and maximizing the potential of intellectual property successfully has been felt during his work at his company.

Famous Five:

• Favorite Book? \u2013 n/a
• What CEO do you follow? \u2013 Bj\xf6rn Lilja of Kundo
• Favorite online tool? \u2014 Slack
• How many hours of sleep do you get?\u2014 5
• If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cI would never do this again\u201d

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Time Stamped Show Notes:

• 00:44 \u2013 Nathan introduces Dimitris to the show
• 01:31 \u2013 IAMIP is a typical SaaS company
• 01:56 \u2013 IAMIP is where users can collaborate in real-time in order to access all the patents
• 02:49 \u2013 IAMIP has 3 target groups: small startups, medium-size companies and corporations
• 03:06 \u2013 Small startups still need to know how to protect their solution
• 03:22 \u2013 Medium and corporations are big companies and they want to make sure no one is infringing on their rights
• 04:12 \u2013 If you want to get acquired later on, you want to make sure you don\u2019t infringe on other\u2019s rights
• 04:42 \u2013 Patents are important for product
• 04:58 \u2013 Patents are also filed on services
• 05:32 \u2013 As a consumer, the focus is on the usability of the product or service
• 05:40 \u2013 If you want to make money right and keep growing, you want to have your IP
• 06:08 \u2013 Team size is 14
• 06:19 \u2013 IAMIP was launched 3 years
• 06:23 \u2013 Average MRR is $60K
• 06:38 \u2013 IAMIP currently has 500 users
• • 06:54 \u2013 There are 62 paying customers
• 07:18 \u2013 IAMIP raised 2 years ago, but it was initially bootstrapped
• 07:34 \u2013 Dimitris was 37 when he launched IAMIP
• 08:05 \u2013 IAMIP managed to have their first client after a few months
• 08:22 \u2013 IAMIP has 2 founders and the split is 50/50
• 08:59 \u2013 Dimitris regretted not inviting more people
• 09:55 \u2013 IAMIP has raised $1M on the first round
• 10:01 \u2013 IAMIP is in the process of raising an equity round
• 10:27 \u2013 Dimitris based the valuation on the future number of customers
• 11:08 \u2013 IAMIP didn\u2019t give a discount on their first round which is an equity round
• 11:44 \u2013 Gross customer churn
• 12:16 \u2013 Dimitris\u2019 tactic on having 0 churn
• 12:46 \u2013 2016 revenue
• 13:08 \u2013 2017 goal
• 13:16 \u2013 IAMIP has recently been accepted by the UCLA Amazon program
• 13:33 \u2013 CAC
• 13:59 \u2013 Everybody is part of the sales team
• • 14:30 \u2013 All of the people on the team are engineers and the 7 spend additional time in sales
• 14:51 \u2013 LTV
• 16:17 \u2013 The Famous Five

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3 Key Points:

• Patents are important for growing businesses in order to protect your solutions.
• Having co-founders has its advantages and can be much better than doing it solo.
• You CAN acquire new customers without an expert salesperson.

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Resources Mentioned:

• The Top Inbox\xa0 \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\xa0\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\xa0\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Show Notes provided by Mallard Creatives