BROADCASTS.com

Yoseph West. He dreams of a world where accountants and bookkeepers never have to ask their clients for documents\u2014that\u2019s why he joined HubDoc to lead growth. He previously co-founded Vuru, a stock analytics platform for retail investors and led it into its acquisition by Wave Accounting in 2012. Listen as Yoseph shares his experience with Vuru\u2019s acquisition and how he ended up now with HubDoc.

Famous Five:

• Favorite Book? \u2013 The Hard Thing About Hard Things
• What CEO do you follow? \u2013\xa0 William Rockefeller

• Favorite online tool? \u2014 Text Expander
• 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 Stay patient

\xa0

Time Stamped Show Notes:

• 01:34 \u2013 Nathan introduces Yoseph to the show
• 02:10 \u2013 Yoseph co-founded Vuru to make investing easier
• • 02:33 \u2013 Vuru was making money off ads, they then supposedly reached out to Wave Accounting
  • 03:15 \u2013 The acquisition was a soft landing
  • 03:36 \u2013 \u201cAll of us want to work with people that we\u2019re excited about\u201d
  • 04:29 \u2013 Yoseph and his team got a little excited as they talked more with angel investors
  • 04:50 \u2013 Vuru was having a fundraising
• 05:30 \u2013 HubDoc offers SMBs a cloud accounting space
• 05:42 \u2013 There\u2019s a movement to make accounting space invisible
• 06:13 \u2013 There\u2019s a big shift in the accounting industry
• 06:40 \u2013 HubDoc has a feature similar to how bills and other documents are being consolidated in a bank
• 07:04 \u2013 HubDoc has over 700 web scrapers
• 07:50 \u2013 Business owners won\u2019t be bombarded with reminder emails from their accountants and bookkeepers using HubDoc
• 08:25 \u2013 HubDoc was re-launched in early 2014
• 08:55 \u2013 Number of HubDoc\u2019s paying customers
• 09:28 \u2013 HubDoc caters to bookkeepers and accountants who then add all their clients
• 10:40 \u2013 Average monthly RPU
• 11:20 \u2013 MRR
• 12:00 \u2013 CAC is quite low
• 12:18 \u2013 Customers stay for approximately 32 months
• 12:30 \u2013 Gross monthly churn is usually negative
• 12:40 \u2013 Bookkeepers are always continually adding new clients
• 13:45 \u2013 Lifetime value
• 14:10 \u2013 Team size is 22
• 14:27 \u2013 The Australian market is 3-5 times ahead of the American market
• 14:40 \u2013 HubDoc has raised capital
• • 15:00 \u2013 The funding market in Toronto described
• 15:40 \u2013 2017 revenue goal
• 16:49 \u2013 Follow Yoseph on Twitter and HubDoc is looking for content marketers and other marketing people so touch base if you\u2019re interested
• 19:00 \u2013 The Famous Five

\xa0

3 Key Points:

• The future of accounting and bookkeeping is far better with technology; it\u2019s much faster and paperless.
• Acquisition is sometimes painful but there are always new opportunities ahead.
• Stay patient AND optimize for learning\u2014there\u2019s time to learn and grow.\xa0

\xa0

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
• @YcWest \u2013 Yoseph\u2019s Twitter handle
• Show Notes provided by Mallard Creatives