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Neha Sampat. She\\u2019s the CEO of Built.io, a 2017 Gartner Magic Quadrant Vendor and 2016 Gartner Cool Vendor that provides a digital business platform that helps organizations excel their digital transformation. She\\u2019s a recognized industry leader and has led product marketing, cloud computing and online experiences for Sun Microsystems and VMware. She\\u2019s a proponent of diversity and outspoken advocate for nurturing women leaders in her industry. She was named the San Francisco Business Times\\u2019 40 Under 40 honoree and one of 50 Women in Tech Dominating Silicon Valley in 2015. She is part of SF Business Times 2017 List of Most Influential Women in Business.

Famous Five:

• Favorite Book? \\u2013 Moneyball
• What CEO do you follow? \\u2013 Elon Musk
• Favorite online tool? \\u2014 Alfred
• How many hours of sleep do you get?\\u2014 6-7
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cDo not start questioning yourself, you\\u2019re confident now. Keep that confidence, anything else will just slow you down\\u201d

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Time Stamped Show Notes:

• 01:42 \\u2013 Nathan introduces Neha to the show
• 02:42 \\u2013 Built is a digital transformation platform
• 02:37 \\u2013 Neha started Built 10 years ago when digital transformation wasn\\u2019t a thing yet
• 03:21 \\u2013 Built sells products to enterprise companies
• 03:24 \\u2013 Built is mainly a SaaS model, but they also offer services and license deals that may not be SaaS
• 03:37 \\u2013 Built started as a professional services company
• 03:44 \\u2013 Built is still bootstrapped
  • 03:59 \\u2013 \\u201cWe\\u2019re not a typical Silicon Valley company at all\\u201d
• 04:08 \\u2013 Built was made based on the real needs of customers
• 04:27 \\u2013 Team size is around 200, spread across India and San Francisco
  • 04:50 \\u2013 The team in India is mainly the R&D team and the professional services team
  • 05:20 \\u2013 Built has a real economic advantage having the majority of their team in India
  • 05:49 \\u2013 Built is in the remote part of Mumbai
  • 06:16 \\u2013 The office in India is where Neha\\u2019s co-founder\\u2019s family is from
  • 06:48 \\u2013 Neha shared how they started building their office with a not-so-good internet speed in India
• 08:12 \\u2013 Built is slowly transitioning mainly to SaaS model
• 08:45 \\u2013 First million dollar year was in 2013
• 09:13 \\u2013 Neha started Built with her co-founder in 2007, and Neha took an advisory role at first
• 09:42 \\u2013 Neha used her own money to fund Built
  • 10:03 \\u2013 Neha was very careful in handling her money
• 10:16 \\u2013 When Neha and her co-founder started Built, they wanted it to be a product company
  • 10:30 \\u2013 Neha\\u2019s co-founder was from the integration space and gave her the idea of transitioning to Built in 2013
• 11:30 \\u2013 Average customer pay per month is $50K
• 12:00 \\u2013 Built currently has thousands of trial signups and hundreds of paying customers
• 12:30 \\u2013 Neha is a certified sommelier and when they go to conferences, they\\u2019ll have wine tasting events to get new customers
• 13:40 \\u2013 Gross logo churn
  • 13:48 \\u2013 Built has a 90% retention rate and has maintained it
• 14:12 \\u2013 Fully weighted CAC and payback period is less than 10 months
• 14:43 \\u2013 Built tries to always get paid cash upfront
• 15:10 \\u2013 Gross margin
  • 15:24 \\u2013 Some of the services are used to fund their SaaS
• 16:06 \\u2013 Most of the marketing is for conferences
• 16:54 \\u2013 End of 2017 revenue goal
  • 17:28 \\u2013 They\\u2019re focusing on doubling their SaaS revenue
• 19:11 \\u2013 The Famous Five

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3 Key Points:

1. If you build a product that begins by addressing people\\u2019s needs, you will always have customers.
2. Don\\u2019t raise funds if you don\\u2019t need to, staying bootstrapped is an advantage.
3. Cash is king, always try to get paid upfront.

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Resources Mentioned:

• Simplero \\u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
• 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
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• 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