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Frank Ricotta, CEO of BurstIQ, which helps professionals and businesses in the healthcare industry connect. Frank has been through the grinder as an entrepreneur. Huge crash-and-burn businesses have gotten him to this point.

Famous 5:

Favorite Book? \u2013 The Executive in Action
What CEO do you follow? \u2014 PayPal
Favorite online tool? \u2014 Slack
Do you get 8 hours of sleep?\u2014No
If you could let your 20 year old self know one thing, what would it be? \u2014 Trust your instincts, and don\u2019t lose your balance.

Time Stamped Show Notes:
01:13 \u2013 Nathan introduces Frank
01:44 \u2013 BurstIQ is a platform service
02:00 \u2013 They help their customers create a network
02:53 \u2013 Founded in April 2015
03:05 \u2013 Frank had been working in health and saw an issue
03:24 \u2013 There are three founders
03:52 \u2013 First-year revenue was $150k
04:05 \u2013 Involvement in several other startups
04:25 \u2013 His \u201ccrash and burn\u201d story
05:29 \u2013 The cofounders
05:55 \u2013 May 2016 customers: 10
06:20 \u2013 Average pay per customer is $250k to $1M
06:35 \u2013 A focus on the base plan
07:00 \u2013 $75k/month
07:35 \u2013 No patterns yet for churn
08:45 \u2013 Customer acquisition cost
09:00 \u2013 Inside sales and partners
09:15 -- $150k to $200k
09:40 \u2013 12 team members
10:00 \u2013 What ratio Frank likes to see
10:40 \u2013 \u201cWork to keep your head above water\u201d
11:09 \u2013 The company\u2019s capital
11:37 \u2013 Valuation for BurstIQ
12:40 \u2013 They want to raise $5M
13:10 \u2013 Based in Denver
13:55 \u2013 Techstars
14:25 -- @fricotta or Frank Ricotta on LinkedIn
16:26 -- The Famous Five

3 Key Points:
Come up with a business that makes something simpler.
Being an entrepreneur means experiencing failure along with success.
If you don\u2019t stretch yourself to reach high goals, no one will believe that you can ever achieve them.

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.
Slack \u2013 Frank\u2019s favorite online tool to connect with coworkers and customers

Show Notes provided by Mallard Creatives