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Randall Nachman of DocuFirst, who has over 15 years of experience in mortgage lending and software development with a strong focus on business processes, work-flow, operation, sales and marketing. He founded a mortgage brokerage company in 2003 which grew from 2 loan officers to 135 loan officers and ranked 2nd in the region for total loan closings and volume. He then founded ATLOS, a document management in 2008 which is used by lenders and borrowers.

Famous Five:

• Favorite Book? \u2013 Trump: The Art of the Deal
• What CEO do you follow? \u2013\xa0 Elon Musk

• Favorite online tool? \u2014 Trello
• 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 \u201cPay attention in class\u201d

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Time Stamped Show Notes:

• 01:34 \u2013 Nathan introduces to the show
• 02:31 \u2013 DocuFirst focuses on 3 core functions within software
• 03:12 \u2013 DocuFirst also focuses on document storage and management
• • 03:39 \u2013 The files are stored securely that they can access anytime
• 03:44 \u2013 ATLOS and DocuFirst was launched in 2015
• 04:13 \u2013 First year for DocuFirst was close to $100,000
• 04:21 \u2013 DocuFirst\u2019s is a SaaS model and is subscription-based
• 04:58 \u2013 Average monthly RPU is $150
• 05:35 \u2013 ATLOS is for mortgage space but DocuFirst handles any type of forms
• 06:40 \u2013 DocuFirst is currently serving 80 unique companies
• • 06:54 \u2013 Each company has an average of 6-7 users
• 07:06 \u2013 ATLOS has 4 companies they\u2019re serving
• • 07:18 \u2013 ATLOS markets directly to the mortgage lending space
• 07:38 \u2013 DocuFirst\u2019s monthly revenue is $12,000
• 08:07 \u2013 Randall started in the document space because he wanted to automate his own business
• 08:43 \u2013 Why create a new brand if they are both running on the same software?
• • 08:45 \u2013 ATLOS stands for Automated Tracking Loan Origination Software which is dedicated in the real estate space
• 09:18 \u2013 Team size for DocuFirst is 16
• 10:11 \u2013 DocuFirst\u2019s churn rate is low
• 10:33 \u2013 Average CAC is less than $100
• 11:00 \u2013 Randall has raised capital for both brands
• 11:31 \u2013 Randall raised capital because he wants to speed up the way they develop
• 12:08 \u2013 Randall and his team are based in Louisiana
• 12:51 \u2013 Randall considered spinning out DocuFirst as a separate entity
• 13:46 \u2013 DocuFirst\u2019s valuation
• 15:03 \u2013 Randall will not sell the business or get an offer
• 15:28 \u2013 Randall has been focus on developing DocuFirst
• 16:03 \u2013 DocuFirst is adding at least 10 customers a month
• 16:19 \u2013 Connect with Randall through DocuFirst and ATLOS
• 19:02 \u2013 The Famous Five

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3 Key Points:

• You can create a business with SIMILAR software, but DIFFERENT target market.
• Always work to develop and improve your business MORE.
• Education can lead you somewhere, so pay attention in class!

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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 the quality of Toptal\xa0 developers.
• Host Gator\xa0\u2013 The site Nathan uses to buy his domain names and hosting for the 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.
• Assistant.to \u2013 The site Nathan uses to book meetings with one email.
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip \u2013 Nathan uses Drip\u2019s email automation platform and visual campaign builder to build his sales funnel.
• DocuFirst.com \u2013 Randall\u2019s second business website
• ATLOS.com \u2013 Randall\u2019s first business website
• Show Notes provided by Mallard Creatives