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Greg Raiz, founder of Raizlabs \\u2013 a technology innovation firm for design custom applications, web platforms and other cutting-edge software. Listen how Greg earned the respect of startups and Fortune500 companies through his business.

Famous Five:

• Favorite Book? \\u2013 Blink
• What CEO do you follow? \\u2013 Elon Musk

• Favorite online tool? \\u2014 Invision
• 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? \\u2013 \\u201cJust make sure to stop and smell the roses\\u201d

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Time Stamped Show Notes:

• 01:41 \\u2013 Nathan introduces Greg to the show
• 02:10 \\u2013 What Raizlabs does and how it makes money
• • 02:14 \\u2013 It is a software design company
  • 02:21 \\u2013 Build iphone and android apps
• 02:45 \\u2013 Average project size and price
• • 03:10 \\u2013 Raizlabs as a product business service
  • 03:22 \\u2013 Raizlabs helps with the technology side of the business
• 03:35 \\u2013 Greg started Raizlabs in 2003
• 03:47 \\u2013 Greg was making $ 60-70,000 when he was working with Microsoft
• • 03:57 \\u2013 Greg was 23 when he left Microsoft
• 04:11 \\u2013 First year revenue in 2013
• • 04:25 \\u2013 Greg was living off his savings
• 04:55 \\u2013 Total revenue in 2015
• 05:10 \\u2013 80 people in team
• 05:35 \\u2013 Business has been cash deposited for more than a year
• • 05:44 \\u2013 Margin and business capital
• 06:09 \\u2013 \\u201cPaying yourself as a CEO has always been a challenge\\u201d
• • 06:23 \\u2013 Reasonable salary
  • 06:58 \\u2013 Total annual personal expenses
• 07:37 \\u2013 Total savings back then
• 07:53 \\u2013 Greg had a day job when he was just starting his company
• 08:20 \\u2013 Total monthly headcount expenses on an average
• 08:55 \\u2013 Greg uses Basecamp and other tools
• • 09:24 \\u2013 Spending on tools
• 09:47 \\u2013 How Greg feels when their client earns more than them
• • 10:00 \\u2013 They did some good stuff for HubSpot
• 10:25 \\u2013 Just released an interesting product for The Perkins School for the Blind\\xa0
• • 10:35 \\u2013 Challenge for micro-navigation
  • 10:50 \\u2013 How to get people to the bus stop
  • 11:10 \\u2013 Launched earlier this week
• 11:30 \\u2013 RunKeeper as a client
• • 11:37 \\u2013 Fitness mapping idea
  • 12:10 \\u2013 Design development of the product with the iphone GPS
  • 12:40 \\u2013 Success to take in-house
• 13:04 \\u2013 Equity with the companies
• 13:25 \\u2013 How much RunKeeper pays Greg
• • 13:40 \\u2013 Charged 15K early on
• 14:20 \\u2013 Exploring apps that can help the employees betterment
• • 14:41- Methodology on how to facilitate feedback
• 14:48 \\u2013 Product exploration and incubation
• 15:05 \\u2013 Connect with Greg on his website and Twitter
• 16:40 - The Famous Five

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3 Key Points:

• As an entrepreneur, you have to manage your stability and your company\\u2019s.
• It is not about how much other companies earn \\u2013 it is about how you become a part of their success.
• You can never turn back time \\u2013 pause and enjoy the beauty of the present.

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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.
• @graiz \\u2013 Greg\\u2019s Twitter handle
• Raizlabs.com \\u2013 Greg\\u2019s business website
• Show Notes provided by Mallard Creatives