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Sunil Patro, founder of SignEasy, a technologist, product thinker and entrepreneur. He has a decade of experience as a member of multiple early stage product team at Microsoft, Juniper Networks and Tokbox. Putting enterprise communication apps to carrier great routing system to consumer focused video conferencing software. After facing many problems to sign an important job offer while traveling in Mexico, he was inspired to build a product that could solve this hindrance. Since bootstrapping SignEasy in 2010, he led SignEasy to a growing and profitable company that putting 3M downloads with a 5-star rating in over 150 countries, ranked 1 of the top 15 apps and in top 100 downloaded apps for business including Apple\u2019s Best New Apps and Editor Choice Picks.

Famous Five:

• Favorite Book? \u2013 Crucial Conversations
• What CEO do you follow? \u2013\xa0 Jason Fried

• Favorite online tool? \u2014 Slack
• Do you get 8 hours of sleep?\u2014 Not everyday
• If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cJust focus on being part of a great team and focus on learning things rapidly and just have an experience. Find the things you enjoy the most at work\u201d

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Time Stamped Show Notes:

• 01:32 \u2013 Nathan introduces Sunil to the show
• 02:33 \u2013 SignEasy is a cloud-based easy to use app
• • 02:50 \u2013 SignEasy allows users to be completely paperless
• 03:00 \u2013 SignEasy is a SaaS model and has a free trial for 14 days
• • 03:12 \u2013 Pay-as-you-go is also available
  • 03:17 \u2013 Businesses can subscribe to pro and premium plans
• 03:34 \u2013 Sunil started coding SignEasy in early 2010 and launched around July 2010
• 03:35 \u2013 First year revenue
• 04:02 \u2013 Current number of customers in 2016
• • 04:20 \u2013 40-45% are on subscriptions and the rest are on one-time payment
• 04:33 \u2013 Average monthly RPU is $ 4 \u2013 5 for pro and 80-90% are pro subscriptions
• 05:09 \u2013 Average monthly recurring revenue for SignEasy
• • 05:58 \u2013 The difference of their payment plans before and now and how it affects their MRR
• 06:41 \u2013 SignEasy has grown high double digit over the last few years
• 07:07 \u2013 SignEasy is totally bootstrapped
• 07:25 \u2013 Team size
• 08:00 \u2013 Sunil is based in the bay area
• 08:52 \u2013 Gross monthly customer churn
• 09:02 \u2013 SignEasy is focused on SMB
• 09:45 \u2013 Customers can only pay SignEasy annually
• 10:35 \u2013 Lifetime value
• 10:46 \u2013 SignEasy hasn\u2019t done paid user acquisition yet
• 10:55 \u2013 Almost 100% of SignEasy users are inbound based or app store driven
• 11:57 \u2013 Sunil shares how they are reaching high number of downloads in app store
• • 12:10 \u2013 SignEasy has been in the app store for 6 years
  • 12:30 \u2013 There are many factors that\xa0 app store considers
  • 12:43 \u2013 SignEasy has been using keywords for app store
• 14:10 \u2013 SignEasy gets 60K downloads a month from app store
• • 14:35 \u2013 In iOS, the conversion from free to paid users is 5-6%
  • 14:44 \u2013 In Android, the conversion from free to paid users is half of the iOS
• 14:50 \u2013 The free trial is either 14 days or limited to 3 documents
• • 15:15 \u2013 SignEasy\u2019s paid features
• 15:39 \u2013 SignEasy just launched a new feature wherein a user can send a document to sign to multiple people remotely and they can establish a work flow
• 16:00 \u2013 Sunil\u2019s philosophy
• 17:10 \u2013 Nathan made a mock offer of $ 15M and Sunil is open to it
• 17:47 \u2013 Find Sunil on Twitter and send him an email
• 19:27 \u2013 The Famous Five

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3 Key Points:

• Build something that people want.
• Follow your passion and do what you drives your passion.
• Focus on being part of a great team and focus on learning things rapidly.

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Resources Mentioned:

• 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
• Toptal\xa0\u2013 Nathan found his development team using Toptal 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
• Host Gator\xa0\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible\xa0\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• Show Notes provided by Mallard Creatives