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Scott East. He founded his company MSIGHTS in 2004 to help marketers make better decisions with better data and reporting. His experience includes global ads and digital agencies of Fortune 20 telecom and AOL prior to founding MSIGHTS. He understands how to engage marketers as he has 20+ years in this area. His new book, The Cuttlefish Marketer: The Five Essential Traits of a Modern Marketer, focuses on helping marketers transform themselves into modern marketing leaders.

Famous Five:

• Favorite Book? \\u2013 E-Myth
• What CEO do you follow? \\u2013 Jason Fried
• Favorite online tool? \\u2014 LinkedIn Sales Navigator
• 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 Scott wished he had focus more on \\u201cpull goals\\u201d, not \\u201cpush goals\\u201d

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Time Stamped Show Notes:

• 01:54 \\u2013 Nathan introduces Scott to the show
• 02:38 \\u2013 Scott wrote a book because it was on his bucket list
  • 03:00 \\u2013 Scott\\u2019s publisher is Advantage Media
  • 03:46 \\u2013 The book is now available on Amazon and Apple
  • 04:06 \\u2013 It has sold around a couple of hundreds of copies
  • 04:20 \\u2013 Scott worked on his book for 10 solid months
• 05:05 \\u2013 MSIGHTS provides data management and performance reporting services for large marketing departments
• 05:21 \\u2013 MSIGHTS\\u2019 primary model is a SaaS model and they charge based on the data they integrate
• 05:38 \\u2013 \\u201cWe giveaway licenses for free in our platform\\u201d
• 05:58 \\u2013 Scott wants as many enterprise companies as possible to use their reporting for decision making
• 06:18 \\u2013 MSIGHTS charges based on the volume that they\\u2019re integrating onto the system (in bulk)
• 07:00 \\u2013 MSIGHTS\\u2019 professional service is a recurring service
• 07:40 \\u2013 Scott shares why the SaaS model is different from a professional service, even if both services are recurring
• 08:24 \\u2013 ACV is $250K per client
• 08:47 \\u2013 MSIGHTS has 35 people
• 09:20 \\u2013 Scott shares how the data they receive needs to be analyzed
  • 10:15 \\u2013 MSIGHTS integrated the data and added the translation key, but it took the founders more than an hour to decide if they would take it
• 11:03 \\u2013 Scott self-funded the company
• 11:33 \\u2013 MSIGHTS was officially launched in 2003
• 12:00 \\u2013 First year revenue is around $150K
• 12:10 \\u2013 2013 revenue
• 12:31 \\u2013 2016 revenue was $3.21M
• 13:04 \\u2013 Churn is less than 5% annually
• 13:30 \\u2013 Some of their clients have been with MSIGHTS for five years plus
• 13:50 \\u2013 MSIGHTS is still bootstrapped
• 14:15 \\u2013 Blended gross margins is a low 85%, platform side is 80% plus and 70% on professional service
• 15:05 \\u2013 Last month total revenue is around $264K
• 15:30 \\u2013 CAC
• 15:54 \\u2013 Payback period is around a month
• 17:53 \\u2013 The Famous Five

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3 Key Points:

1. If you want something and it\\u2019s within your reach, GO for it!
2. Having a great product could mean you\\u2019re bootstrapped for years, even a decade.
3. Professional services can be a recurring service.

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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