EP 525: Orangedox Doubles Down on Enterprise with $7.5k in MRR with CEO Chad Brown

Published: Dec. 31, 2016, 10 a.m.

Chad Brown, CEO and head of product along with his co-founder at Orangedox.com. He has a strong background in business intelligence and technology startups and has a passion for business documents and the color orange.

Famous Five:

  • Favorite Book? \u2013 Good to Great
  • What CEO do you follow? \u2013\xa0 Drew Houston
  • Favorite online tool? \u2013\xa0 Stack Exchange
  • Do you get 8 hours of sleep? \u2013\xa0 Yes
  • If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cBe more confident\u201d

\xa0

Time Stamped Show Notes:

  • 01:32 \u2013 Nathan introduces Chad to the show
  • 02:07 \u2013 Orangedox started as document tracking and was originally on Dropbox
  • 02:17 \u2013 Orangedox has premium services on top premium products
  • 02:48 \u2013 Why would people choose Orangedox over PandaDoc
    • 02:55 \u2013 Orangedox is integrated into your account
  • 03:22 \u2013 Orangedox is a SaaS business
  • 03:55 \u2013 Orangedox has over 20K product signups
  • 04:05 \u2013 Orangedox was in beta in 2014 and pre-launch in early 2015
  • 04:25 \u2013 Average weekly active customers: 2000
  • 05:05 \u2013 Average number of paying customers: about 300
  • 05:30 \u2013 Average pay per customer is $25-30 a month
  • 06:00 \u2013 MRR
  • 06:17 \u2013 Chad was looking at raising capital but still undecided about their focus
  • 06:55 \u2013 Chad is looking at their current customer base
  • 07:30 \u2013 Chad shares how the customers are using Orangedox and the commonality in paying customers
  • 09:15 \u2013 Team size: 2 full-time and few part-time workers
  • 09:30 \u2013 Gross customer churn around 5%
  • 09:57 \u2013 Chad shares how they acquire their new customers
  • 11:52 \u2013 Orangedox is based in Vancouver
  • 12:25 \u2013 Chad and his co-founders\u2019 plan on the company
  • 12:45 \u2013 Chad hasn\u2019t focused on a lot revenue at the moment, but is working on closing key enterprise clients
  • 13:21 \u2013 Connect with Chad through his email and Twitter
  • 14:55 \u2013 The Famous Five

\xa0

3 Key Points:

  • At first, focus on the betterment of your product as opposed to revenue.
  • Analyze your product\u2019s effectivity through your customers\u2019 activities.
  • Have the confidence and motivation to do what you want.

\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
  • @Orange_dox \u2013 Chad\u2019s business\u2019 Twitter handle
  • Chad@Orangedox.com \u2013 Chad\u2019s email address
  • Show Notes provided by Mallard Creatives