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Kenneth Lee, founder of TravelFlan. Kenneth has a bachelor\u2019s degree in computer engineering and has developed a business that makes travelling easier. TravelFlan has partnered with major airlines as well as thousands of individual customers to give them a personal digital travelling assistant.

Famous 5:

Favorite Book? \u2013 Zero to One
What CEO do you follow? \u2014 Elon Musk
Favorite online tool? \u2014 Evernote
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 Quit school faster.

Time Stamped Show Notes:
01:10 \u2013 Nathan introduces Kenneth
01:30 \u2013 TravelFlan
01:55 \u2013 Customers pay on average $15
02:30 \u2013 Three sources of revenue
03:05 \u2013 History of the business
03:30 \u2013 He and his partner loved to travel
04:14 \u2013 First-year revenue in 2015 $120k
04:50 \u2013 They have a free service and a premium service
05:15 \u2013 2000 customers
05:25 \u2013 May 2016 revenue from commissions from airlines was $25k
06:00 \u2013 Two large airlines use their data
06:30 \u2013 May total revenue was $50k
06:55 \u2013 Fundraising
07:30 -- $5 Million valuation
07:40 \u2013 Most of the team is in Asia
08:25 \u2013 Churn is not as applicable in this type of business
09:30 \u2013 Customer acquisition
09:57 \u2013 Team of 11 people
10:10 \u2013 travelflan.com or Kenneth.lee@travelflan.com
23:40 -- The Famous Five

3 Key Points:
Start with a very focused business and then expand as you see success.
If you have a good idea, pursue it immediately.
Find different ways to make revenue.

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.
Evernote \u2013 Kenneth\u2019s favorite online tool
Show Notes provided by Mallard Creatives