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Nathan interviews Joel Holland, founder of VideoBlocks - a company that distributes over a million clips of royalty-free stock video and audio each month to over 150K customers in the television and video production industry, ranging from professional outlets like NBC to video hobbyists and enthusiasts. They're a 5x INC 500 out of 5000 fastest growing company, and Joel has been named one of the Top 25 under 25 by Business Week, and INC magazine\u2019s prestigious 30 under 30 list.

Famous Five:

• Favorite Book? \u2013 Influence
• What CEO do you follow? \u2013 Elon Musk
• Favorite online tool? \u2014 Mailchimp

• Do you get 8 hours of sleep?\u2014 \u201cI do now\u201d
• If you could let your 20 year old self know one thing, what would it be? \u2013 \u201cI wish I have lived my college life\u201d

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Time Stamped Show Notes:

• 01:50 \u2013 Nathan introduces Joel to the show
• 02:57 \u2013 What is VideoBlocks and how does it generate sales
• • 03:00 \u2013 Stock media company
  • 03:22 \u2013 Elements that creative professionals can incorporate to their projects
• 03:45 \u2013 VideoBlocks was founded 2010
• • 04:00 \u2013 Idea of VideoBlocks
• 04:40 \u2013 VideoBlocks\u2019 model
• • 04:50 \u2013 Started selling by the collection
  • 05:10 \u2013 Launched subscription plan as a test in 2010
  • 05:20 \u2013 150,000 paying members
  • • 05:38 \u2013 Monthly and annual plan
• 05:43 \u2013 Total revenue in 2015
• 06:15 \u2013 Royalty-free
• • 06:30 \u2013 6,000 videographers now shooting for VideoBlocks
• 07:10 \u2013 RPU
• • 07:37 \u2013 Created more premium plans
• 08:00 \u2013 The 80/20 rule
• 08:30 \u2013 How much would a videographer get if National Geographic buys his clip?
• • 08:40 \u2013 Standard pricing
  • 08:50 \u2013 \u201cIf National Geographic bought it for 49 bucks, the videographer will get a check\u201d
  • 09:00 \u2013 2 types of libraries
• 09:38 \u2013 VideoBlocks buy clips to put in the library
• 10:10 \u2013 Customers only need to download 2 clips in a year to avail unlimited clips
• 11:00 \u2013 \u201cWe want shooters to make as much money as possible\u201d
• 11:24 \u2013 A few million dollars to acquire creative lights
• 11:40 \u2013 \u201cContent is king\u201d
• 12:00 \u2013 MRR
• 12:09 \u2013 Annual churn
• • 12:16 \u2013 Subscription business is like a puzzle
  • 13:05 \u2013 Churn on monthly plan
  • 13:26 \u2013 Returning cost acquisition
  • 14:10 \u2013 Customer insights operation
• 14:25 \u2013 Direct response marketing
• • 14:33 \u2013 Million dollars spent monthly
  • 14:40 \u2013 Example of direct response marketing
• 14:58 \u2013 Joel has a huge number of list
• 15:15 \u2013 Launching other products
• 15:42 \u2013 Weighted average cap
• 15:55 \u2013 Lifetime value on average
• 16:16 \u2013 Blended channels
• 17:17 \u2013 80 team members
• • 17:25 \u2013 Based in Virginia
• 17:36 \u2013 Funding history: Raised under 20 million to date
• • 18:02 \u2013 North Atlantic Ventures
  • 18:11 \u2013 SBA gives you leverage
  • • 18:40 \u2013 Interest rate
• 19:35 \u2013 \u201cCurrently, we are not raising nor in any acquisition talks\u201d
• 20:15 \u2013 \u201cGoing public is a tough process\u201d
• 21:07 \u2013 Connect with Joel through his LinkedIn and website
• 22:45 \u2013 The Famous Five

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3 Key Points:

• Work hard but don\u2019t forget to live your life.
• Give life to your ideas if you want your business to grow.
• Know your customers and the people who supports your products.

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Resources Mentioned:

• Toptal\xa0\u2013 Nathan found his development team using Toptal\xa0 for his new business Send Later. He was able to keep 100% equity and didn\u2019t have to hire a co-founder due to quality of Toptal\xa0 developers.
• Host Gator\xa0\u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
• Freshbooks\xa0\u2013 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\xa0\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
• LinkedIn \u2013 Joel\u2019s LinkedIn account
• VideoBlocks.com \u2013 Joel\u2019s business website
• Show Notes provided by Mallard Creatives