BROADCASTS.com

b'

Hank Leber, founder and CEO of Vytamin. Vytamin is a marketing technology software that provides an end-to-end marketing solution. The business made $460,000 the first year and is excelling in its industry. Hank will share his insights from failing with his first business to succeeding with the next. He is a great example of an entrepreneur who has persevered to create a service that works.

Famous 5:

\\xa0

• Favorite Business Book? \\u2013 The Lean Startup
• What CEO do you follow? \\u2014Jason Lemkin
• Favorite online tool? \\u2014 Google Apps

• Do you get 8 hours of sleep?\\u2014 No way
• If you could let your 20 year old self know one thing, what would it be? \\u2014 Cheat a little

\\xa0

Time Stamped Show Notes:

• 01:28 \\u2013 Nathan introduces Hank Leber, founder and CEO of Vytamin
• 01:55 \\u2013 Hank worked with Travelocity before Vytamin
• 02:16 \\u2013 Vytamin is marketing technology software for an end-to-end marketing solution
• 02:47 \\u2013 The service starts at $1000/month
• 03:24 \\u2013 Vytamin is a SAS company
• 03:54 \\u2013 Hank\\u2019s first business was founded at the beginning of 2015, because Hank wanted to move to greater things beyond his original goals
• 05:14 \\u2013 You can get out of the corporate world, but it is a leap of faith
• 06:45 \\u2013 Hank quickly exhausted his life savings with his first startup, Gonnabe, and the company failed
• 09:14 \\u2013 His cofounders found outlets at other successful companies.
• 09:52 \\u2013 Hank then took a year in the agency world to make back the money he lost and get on his feet again.
• 11:05 \\u2013 First year revenue for Vytamin was $460,000
• 11:30 \\u2013 They now have 85 paying customers, with $102,000/month coming in.
• 12:41 \\u2013 Gross churn is about 4% per month, but at first it was over 20%.
• 13:48 \\u2013 Their goal is 4% annual churn
• 14:49 \\u2013 They don\\u2019t have to spend on marketing because they use their own software. There is no real inside sales team.
• 16:08 \\u2013 There are nine on the team now, with $650,000 revenue last year.
• 18:26 \\u2013 Monthly headcount is about $10k
• 18:53 \\u2013 Revenue is 18%
• 19:30 \\u2013 Hank does the Famous Five

3 Key Points:

• Even if a business idea fails, use your new knowledge to continue seeking a concept that works.
• Starting a business will require savings or funding as well as a big leap into the unknown.
• Give appropriate value to your employees and they will work harder and stick around.

\\xa0

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\\xa0 \\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.

\\xa0

• Show Notes provided by Mallard Creatives

\\xa0

\\xa0