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Colin Day. He\\u2019s the chairman and CEO of a company called iCIMS which he founded in 2000 with a vision to deliver applicant tracking software, emphasizing easy-to-use, unparalleled, customer service. iCIMS is the largest stand-alone provider of talent acquisition software in the industry and stands among Forbes top 100 fastest growing private cloud companies in the country

Famous Five:

• Favorite Book? \\u2013 Good to Great
• What CEO do you follow? \\u2013 Satya Nadella and Marc Benioff
• Favorite online tool? \\u2014 Office 365
• 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 \\u201cTrust your gut and trust your instincts\\u201d

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Time Stamped Show Notes:

• 01:08 \\u2013 Nathan introduces Colin to the show
• 01:47 \\u2013 iCIMS know they\\u2019re winning by customer base
• 02:02 \\u2013 iCIMS is next to Oracle
• 02:37 \\u2013 iCIMS has a bedrock product that is their applicant tracking system
• 03:07 \\u2013 iCIMS is a SaaS business
• 03:39 \\u2013 iCIMS has multiple products, but the main product is the tracking system
  • 03:52 \\u2013 It handles compliance around data
• 04:14 \\u2013 Pricing varies
• 04:21 \\u2013 Recruitment becomes an important part of a company when they reach 100 employees
• 04:37 \\u2013 iCIMS has price buckets that fit the smaller market, mid-sized and high-end markets
• 05:10 \\u2013 How Colin started a SaaS business in 1999
• 05:17 \\u2013 Colin graduated from Cornell with a degree in Psychology
• 05:23 \\u2013 Colin wanted to do something entrepreneurial
• 05:38 \\u2013 Colin\\u2019s first client was from New Jersey
• 05:56 \\u2013 Colin was logged into Comrise\'s proprietary system
• 06:21 \\u2013 Colin then thought to buy the rights to Comrise\\u2019s proprietary system to start his own company
• 06:48 \\u2013 Colin started as a recruiter in 1997
• 07:36 \\u2013 The CEO of Comrise believed in Colin
• 08:43 \\u2013 Colin saw an opportunity and bought the system
• 08:57 \\u2013 The CEO of Comrise loaned Colin the capital for iCIMS
• 09:40 \\u2013 When Colin was working as a recruiter, they couldn\\u2019t find enough technology to work
• 09:55 \\u2013 It was a \\u201chey day\\u201d when Colin spun out
• 10:20 \\u2013 The capital was called a payroll loan
  • 10:48 \\u2013 Colin will call the CEO every time he needed money
• 11:11 \\u2013 Colin didn\\u2019t negotiate equity upfront
• 11:37 \\u2013 iCIMS was charging monthly
• 12:23 \\u2013 Current team size is around 650
• 12:33 \\u2013 In November, they\\u2019ll be moving from New Jersey to Old Bell Labs HQ
• 13:06 \\u2013 iCIMS has grown without any outside money other than the loaned capital
• 13:17 \\u2013 iCIMS has brought in a private equity company
• 14:14 \\u2013 The money from the private equity company went directly towards the equity and not on the operational side of the company
• 14:29 \\u2013 Besides getting an outside investor, it is also a good choice to get a private equity company
• 15:22 \\u2013 Colin has a desire to win
• 16:12 \\u2013 iCIMS\\u2019s mandate is to convince the world to be contrarian
• 16:51 \\u2013 Colin wants iCIMS to be the definition of winning
• 17:30 \\u2013 Colin tries to always stay focused
• 18:18 \\u2013 CAC
• 18:43 \\u2013 Average annual contract price is around $30K
• 19:50 \\u2013 Average MRR
• 20:40 \\u2013 The Famous Five

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3 Key Points:

1. Don\\u2019t be afraid to ask someone about their business plan.
2. Always desire to win and stay focused \\u2013 it works.
3. Trust your instincts; don\\u2019t doubt yourself.

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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