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Amanda Parker, the founder of Simply Insight - a high-end data analysis service that\\u2019s six months old and making $30k in MRR from just 10 clients. Amanda previously ran a successful marketing agency whose clients included Pepsi and 20th Century Fox, and she\\u2019s leveraging that experience to build her SaaS business incredibly fast. Listen in to hear how Amanda\\u2019s managing her first angel investment round, how she signed her first client before even having a software platform, and how she\\u2019s getting unbelievable return on CAC.

Famous 5:

Favorite Business Book? \\u2013 Predictable Revenue
What CEO do you follow? \\u2014 Jason Lemkin
Favorite online tool? \\u2014 Zoom
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? \\u2014Relax and stop worrying: do the work, but stop stressing about it

Time Stamped Show Notes:
01:13 \\u2013 Nathan\\u2019s introduction
01:50 \\u2013 \\u201cWe found that data was a huge problem for our clients, and a huge opportunity\\u201d
02:54 \\u2013 Amanda shut down her growing marketing company to focus on Simply Insight
03:09 \\u2013 They make money from monthly subscription of $2.5-5k
03:57 \\u2013 Simply Insight started 6 months ago - they got their first client before even building their platform
04:53 \\u2013 Clients are on annual contracts that pay monthly
05:14 \\u2013 Currently cash flow positive
05:35 \\u2013 Growing over 20% month over month
06:07 \\u2013 Currently at an MRR of $25-30k
06:20 \\u2013 Hoping for an MRR of $50k by the end of the year
06:50 \\u2013 They have around 10 clients
07:01 \\u2013 CAC? Currently paying one sales rep salary and commission - \\u2018He\\u2019s almost paid for himself for the year and he\\u2019s been around for 6 weeks\\u201d
07:43 \\u2013 Amanda\\u2019s been able to sell to her old client list from her agency to keep her CAC low
08:40 \\u2013 Paying less than $5k to acquire a $30k contract
09:13 \\u2013 \\u201cWe currently have no churn at the higher levels\\u201d
09:43 \\u2013 Revenue in 2015 was $7k from deposits
10:12 \\u2013 Team of 6 people based in Toronto
10:45 \\u2013 Doing an initial round of angel investment
11:01 \\u2013 \\u201cYou\\u2019re married to angel investors - so you need to find people that you really want to work with. It\\u2019s all about the team.\\u201d
11:52 \\u2013 Finding a lead investor is the hardest part
12:12 \\u2013 Raising $500k via convertible note
14:00 \\u2013 \\u201cIt\\u2019s never been a better time to start a company\\u201d
15:05 \\u2013 The risk of convertible notes?
15:56 \\u2013 Hustle, drive, and personality are everything
16:07 \\u2013 Follow Amanda on Twitter or connect with her at Simply Insight
18:10 \\u2013 The Famous Five

3 Key Points:
Find a pain point. Test the market to see if other people feel it. Market your solution.
Don\\u2019t be scared to do what you really want.
If you\\u2019re going into a changing market, you\\u2019d better understand how it\\u2019s going to change.
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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