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Tracy Hazzard, CEO of Hazz Design. Tracy is the co-designer of over 250 products, generating over $1 billion at retail. She also co-hosts the WTFFF?! Podcast, and writes for Inc magazine. Listen as Nathan and Tracy talk about her wildly successful design business, the ins and outs of starting a podcast, and just how the profits from an office chair are broken down.

Famous 5
Favorite Book? \u2013 Rembrandts in the Attic
What CEO do you follow? \u2014 Ken Courtright
What is your favorite online tool?\u2014 Get Pocket
Do you get 8 hours of sleep?\u2014 Absolutely not! I got two copies of Thrive for Christmas
If you could let your 20 year old self know one thing, what would it be?\u2014 Recognise the power of not having to do everything yourself. Team up with experts.

Time Stamped Show Notes:
01:00 \u2013 Nathan\u2019s introduction
01:44 \u2013 Welcoming Tracy to the show
01:46 \u2013 What came first?
02:00 \u2013 Tracy worked for two of the world\u2019s largest design companies from \u201892
02.50 \u2013 Having a great CV helped her to strike out on her own
03:20 \u2013 Won an IP battle... but lost money
03:58 \u2013 Created Hazz Design as a design consulting business
04:45 \u2013 Tracy has helped launch over 253 retail products
04:50 \u2013 Those products generated $758,457,260 of client sales
04:55 \u2013 Tracy and her team have racked up over 98,688 design hours
05.30 \u2013 \u2018Platinum record\u2019 product is the Metrex office chair at Costco
06.00 \u2013 Received a royalty of 2-3% on chair sales
06:30 \u2013 Charge a monthly retainer to a client - $10-20,000 per month
08:30 \u2013 Breaking down the Metrex chair, which retails for around $99
08:55 \u2013 Chair costs: $50 to build; $10 to transport; $2 design royalty; $8 sales royalty
09:56 \u2013 From Costco\u2019s perspective: profit per chair around $29 gross
11:22 \u2013 Metrex sales from 2010 to date - around 1 million units; $1 million profit
12:20 \u2013 Their business model: fees cover costs; royalties on a product line generate profits
13:16 \u2013 \u201cGhost design\u201d - why Tracy designs for known brands
14:00 \u2013 86% of their designs have sold successfully in the last 10 years
14:55 \u2013 Tracy and her husband run the business together
15.15 \u2013 Total 2015 revenue: $500,000
15:30 \u2013 Currently investing in brand building: WTFFF?! is a podcast on 3D printing
16:24 \u2013 30,000 total downloads per month
16:40 \u2013 Costs around $200 per episode to produce
17:40 \u2013 Landed first sponsor for $4,000 per month
20:40 \u2013 Just started writing for Inc in January - recent article hit 15,000 views
23:50 \u2013 Famous Five

3 Key Points:
You don\u2019t have to do everything yourself. Team up with consultants, experts and mentors to be more effective.
Invest in brand building by educating people about your area of expertise.
Working for a recognised company gives you a pedigree and contacts to strike out on your own.

Resources Mentioned:
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Host Gator \u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Leadpages \u2013 The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible \u2013 Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

Show Notes provided by Mallard Creatives

The Top is FOR YOU if you are:

A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4)

STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7)

An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1)

The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).

Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries.

Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at http://NathanLatka.com/TheTop

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