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Nathan Klarer, CEO at Bridgecrest Medical. Nathan\u2019s building a B2B SaaS company that uses wearable technology to minimise accidents in mines and oil rigs. He\u2019s 25 years old and has already raised $1.3 million. Tune in to hear about what\u2019s next for wearable technology, how Nathan\u2019s driving sales, and why he wishes he\u2019d started sooner.

Famous 5:

Favorite Book? \u2013 Influence
What CEO do you follow? \u2014 Larry Ellison
Favourite online tool? \u2014 Nova
Do you get 8 hours of sleep?\u2014 No
If you could let your 20 year old self know one thing, what would it be? \u2014 To have more confidence in myself and start earlier

Time Stamped Show Notes:
01:10 \u2013 Nathan\u2019s introduction
01:50 \u2013 Welcoming Nathan to the show
02:17 \u2013 Before Bridgecrest, Nathan worked in equity finance
02:51 \u2013 Bridgecrest is a B2B SaaS company that incorporates wearable technology into a platform that helps heavy industries prevent accidents
03:38 \u2013 Currently using wearable technology to minimise the fatigue risk of oil rig operators
04:20 \u2013 Sell directly to the operations or tech managers of oil and gas companies
04:50 \u2013 Annual contracts are in 5-6 figures
05:12 \u2013 Customers pay monthly
05:37 \u2013 Companies take 3 or 4 year contracts
06:02 \u2013 Nathan\u2019s background is in engineering - he saw wearable technology being used for health and decided to bring it onto heavy industrial sites
07:10 \u2013 Nathan is the sole founder but has given equity to important team members
08:10 \u2013 Have raised about $1.3 million in total
08:36 \u2013 \u201cWe needed to raise that capital to build the product we wanted to build\u201d
09:07 \u2013 Most of the costs are engineering for analytic software
09:34 \u2013 Launched the product last year
09:48 \u2013 Currently have 10-20 customers
09:40 \u2013 \u201cWe\u2019re looking to build deep relationships with our customers\u201d - no one has churned yet
10:50 \u2013 Sales can come through a single site in heavy industry - followed by upsales at the corporate level
11:30 \u2013 Launched in the last quarter of 2015, and made less than $1 million
12:40 \u2013 Keen to be adopted by big industry players in 2016
13:45 \u2013 As the CEO, Nathan now spends more time working on sales than engineering
10:30 \u2013 Connect with Nathan on Twitter
15:20 \u2013 The Famous Five

3 Key Points:
If you\u2019re building a product, raise enough capital to get it right
Getting the right team around you is all-important. Make sure your founding team complements your weaknesses and buys into the company\u2019s vision
Have confidence in your skills and your abilities. Start your company sooner.
Resources Mentioned:
Host Gator \u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
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

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