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Johnny Reinsch of Qwil which is a company that provides instant pay for the growing freelancer segment of the work force. He\u2019s the co-founder and CEO and also a cryptocurrency nerd. Listen as Johnny shares how he shifted his career path and why Qwil is different from most startups.

Famous Five:

• Favorite Book? \u2013 Zero to One
• What CEO do you follow? \u2013\xa0 Elon Musk

• Favorite online tool? \u2014 Toptal
• 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 \u201cI didn\u2019t have to go to law school\u201d

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Time Stamped Show Notes:

• 01:24 \u2013 Nathan introduces Johnny to the show
• 01:57 \u2013 Johnny got tired of making rich people richer so he started his own startup
• 02:28 \u2013 Johnny shares his learnings from the cryptocurrency company
• 02:50 \u2013 Qwil helps freelancers collect their pay on time
• 03:21 \u2013 Qwil has a low price point
• 03:40 \u2013 Qwil is a transactional based model
• 04:05 \u2013 Qwil started summer of 2015
• 04:20 \u2013 First year total transaction volume is in low seven figures
• 04:51 \u2013 Target transaction volume for 2016
• 05:05 \u2013 Qwil\u2019s funding rounds
• • 05:45 \u2013 It is an equitable note
• 06:07 \u2013 \u201cWe are not disclosing a round at the moment\u201d
• 07:20 \u2013 2016 total transaction volume
• 07:40 \u2013 Qwil has a similar metric with GMD
• 08:51 \u2013 Some freelancers won\u2019t release their payment right away
• • 09:35 \u2013 If freelancers keep their money in Qwil for 30 days, they won\u2019t be charged any fees
  • 09:50 \u2013 Qwil can\u2019t touch the cash of the freelancers
• 11:30 \u2013 Qwil offers conveniences to the users
• 13:28 \u2013 Profit margin base
• 13:44 \u2013 Team size
• 14:10 \u2013 Number of contractors who have used Qwil is in the thousands
• 15:21 \u2013 \u201cWe are trying to make a freelancer\u2019s lifestyle much easier than it currently is\u201d
• 17:10 \u2013 Connect with Johnny through his website, blog, and Twitter
• 18:50 \u2013 The Famous Five

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3 Key Points:

• Be sure to USE and APPLY what you learned well.
• Be in a unique niche where competition is not very tough.
• School does NOT always lead you to your future, don\u2019t let it narrow your scope.

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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.
• The Top Inbox\xa0 \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens and follow-up with email sequences
• @Qwil \u2013 Johnny\u2019s business Twitter handle
• Blog - Johnny\u2019s business Twitter handle
• Qwil.co \u2013 Johnny\u2019s business website
• Show Notes provided by Mallard Creatives