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Phil Alexander, founder and CEO of ConceptDrop. His company has a mission to get your projects done while you\u2019re sleeping. You can send your project to ConceptDrop and expect to see the end result within mere hours. Listen as Phil tells us about the incredible growth of his business and what he sees for ConceptDrop in the future.

Famous Five:

Favorite Book? \u2013 The Wall Street Journal
What CEO do you follow? \u2014 Sundar Pichai
Favorite online tool? \u2014 Hubspot
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 You\u2019re not going to learn everything in business school. Start selling as soon as you can.

Time Stamped Show Notes:
01:05 \u2013 Nathan introduces Phil
01:40 \u2013 ConceptDrop
02:05 \u2013 Servicing over 300 brands
02:25 \u2013 A global network of sellers
02:58 \u2013 About 30% taken from the sellers
03:25 \u2013 They set the prices
03:48 \u2013 Upselling to the buyers
04:10 \u2013 The average buyer
04:25 \u2013 Started in 2012
04:50 \u2013 First-year revenue was a couple thousand
05:10 \u2013 Funds raised
06:00 \u2013 Valuation was between $5 to $7 million
06:20 \u2013 Reasons for the valuation come down mostly to growth rate
07:15 \u2013 Investors
07:30 \u2013 300 buyers, and under 100 sellers
08:00 \u2013 Average seller makes $500 per project, with 4 to 5 projects each month
08:55 \u2013 Seeing great growth
09:40 -- $10,000/month to much higher
10:35 \u2013 Repurchase rates
11:24 \u2013 Total revenue for 2015 was just under $300k
11:55 \u2013 Last month, 50 companies used the platform
12:45 \u2013 Small, high-quality pool of freelancers
13:10 \u2013 A lot of potential in the near future
14:20 \u2013 phil@conceptdrop.com, @philalexander1 on Twitter
16:30 -- The Famous Five

3 Key Points:
There is no perfect formula for starting a business.
High-quality service is a great way to make your business stand out.
Assess your business for its potential.

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.
Hubspot \u2013 Phil\u2019s favorite online tool for marketing and sales
Show Notes provided by Mallard Creatives