EP 530: Shut Down $2m Business, Why with CEO Shawn Livermore

Published: Jan. 5, 2017, 5:18 a.m.

Shawn Livermore. He\u2019s an author and technology consultant and more recently, the founder and CEO of tech startup Ziptask which has generated nearly $2M in revenue. He has raised 4 rounds of funding and closed it down to take on new opportunities.

Famous Five:

  • Favorite Book? \u2013 Tipping Point
  • What CEO do you follow? \u2013\xa0 Mark Fields
  • Favorite online tool? \u2014 Acuity Scheduling
  • 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 \u201cCalculate risk carefully\u201d

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Time Stamped Show Notes:

  • 02:00 \u2013 Nathan introduces Shawn to the show
  • 02:30 \u2013 Ziptask is a fully-managed outsourcing with a progressive effort to fix the problem of outsourcing technology projects
  • 03:23 \u2013 \u201cWe succeeded in the goal, but we failed as a company\u201d
  • 03:31 \u2013 Shawn raised 4 seed rounds
  • 04:18 \u2013 Shawn also had his day-time clients as a technology consultant
  • 04:50 \u2013 Ziptask dissolved in September 2016, and was launched in 2010
  • 05:05 \u2013 Ziptask\u2019s MRR was $107K
  • 05:30 \u2013 Shawn shares why they shut down Ziptask
    • 06:59 \u2013 Shawn launched Ziptask prematurely
    • 08:35 \u2013 Shawn also did NOT try to sell the business
  • 09:30 \u2013 Shawn is now working with Carvana
  • 10:00 \u2013 Connect with Shawn through Twitter. Medium and email
  • 10:15 \u2013 Shawn is currently working on a book called Obscurity
  • 12:45 \u2013 The Famous Five

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3 Key Points:

  • The time will come when you have to pull the plug \u2013 and when it happens, just do it.
  • Reaching your goal is NOT the peak of success.
  • Calculate risk carefully.

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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
  • Jamf \u2013 Jamf helped Nathan kept his Macbook Air 11\u201d secure even when he left it at the airplane\u2019s back seat pocket
  • Carvana \u2013 Shawn\u2019s current employer
  • @shawnypants \u2013 Shawn\u2019s Medium handle
  • @shawnypants \u2013 Shawn\u2019s Twitter handle
  • ShawnLivermore@gmail.com \u2013 Shawn\u2019s email address
  • Show Notes provided by Mallard Creatives