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Vinay Patankar. He\\u2019s the CEO of Process Street, the simplest way to manage your teams\\u2019 recurring processes and workflows. Vinay sets up new clients, onboard employees and manages content publishing with his tool. He also co-host the podcast Business Systems Explored where he deep dives into business systems with industry experts.

Famous Five:

• Favorite Book? \\u2013 The Hard Thing About Hard Things
• What CEO do you follow? \\u2013 Elon Musk, Zach Nelson and Marc Benioff
• Favorite online tool? \\u2014 io
• How many hours of sleep do you get?\\u2014 8
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cThat you can make money on the internet\\u201d

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Time Stamped Show Notes:

• 00:50 \\u2013 Nathan introduces Vinay to the show
• 01:28 \\u2013 Process Street is a tool that helps companies build and manage their workflows and processes
• 01:34 \\u2013 Process Street is a SaaS product, charging on a monthly or yearly subscription based on the number of users one has
• 01:44 \\u2013 The vision is to make workflows easy
• 02:28 \\u2013 Process Street is from an intuitive perspective
• 02:53 \\u2013 Average customer pay
• 03:42 \\u2013 Process Street has options for pricing and incentives for annual contracts
• 04:04 \\u2013 Process Street was launched in 2013 as a side project
• 04:10 \\u2013 Seed round was raised a year and a half ago
• 04:20 \\u2013 Team size is 21
• 04:30 \\u2013 Total raised was $1.3M
• 04:47 \\u2013 Process Street went through Angel Cloud
• 05:10 \\u2013 Nathan thinks that the one who will win the space is the one who is better at distribution
• 05:42 \\u2013 Distribution is the key in finding a scalable sales process and getting the pricing right
• 05:57 \\u2013 The space is very fragmented
• 06:34 \\u2013 Vinay thinks they don\\u2019t need to beat the competition, they just need to grab enough volume of shares
• 06:52 \\u2013 Process Street focuses on SEO
  • 07:04 \\u2013 They measure their rank from targeted keywords
• 07:28 \\u2013 Process Street has a marketing team that helps with distribution
  • 08:13 \\u2013 SEO is cost-effective
• 08:35 \\u2013 CAC from the SEO efforts
• 09:06 \\u2013 MRPU
• 09:17 \\u2013 Process Street doesn\\u2019t spend in other marketing channels
• 09:26 \\u2013 Process Street invests in sales deeper into their funnels
• 10:00 \\u2013 Expansion rate varies depending on the size of the customer
• 10:28 \\u2013 Process Street has a healthy expansion revenue
• 11:26 \\u2013 15 of the team are focused on marketing
• 11:35 \\u2013 Process Street is still working on their headcount expenses
• 11:56 \\u2013 Process Street will adjust and optimize pricing
• 12:29 \\u2013 Average number of customers
• 12:41 \\u2013 MRR
• 13:03 \\u2013 Process Street\\u2019s goal is to raise an A round at the first or second quarter of 2018
• 13:20 \\u2013 Target MRR by the end of 2017
• 13:35 \\u2013 Process Street has no paid acquisition
• 14:50 \\u2013 The Famous Five

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3 Key Points:

1. The one that will scale in the project management space is the one that is better at distribution.
2. You don\\u2019t always need to beat your competitors, just gain your shares and increase your volume.
3. There is real money that can be made on the internet.

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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
• 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\\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

Show Notes provided by Mallard Creatives