EP 532: $1m Raised, $70k MRR to Record Sales Calls and Coach with ExecVision's Steve Richard

Published: Jan. 7, 2017, 10 a.m.

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Steve Richard whose mission in life is to help as many sales professionals as possible to become wildly successful. He has been featured in numerous publications including The Harvard Business Review, The Washington Business Journal, and The Washington Post. Outside of work, Steve enjoys scuba diving, skiing, running, and people-watching. He\\u2019s from Arlington, VA, with his wife Ellen and their 4 kids all under the age of 7.

Famous Five:

  • Favorite Book? \\u2013 RSVP Selling
  • What CEO do you follow? \\u2013\\xa0 Tony Bates
  • Favorite online tool? \\u2014 Owler
  • 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 \\u201cYou got to start with the technology company in the beginning because you\\u2019re going to create much more impact on people\\u2019s lives\\u201d

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Time Stamped Show Notes:

  • 01:58 \\u2013 Nathan introduces Steve to the show
  • 02:45 \\u2013 Steve shares the idea of ExecVision
  • 03:17 \\u2013 ExecVision is a SaaS business
    • 03:20 \\u2013 There are 50 organizations who are currently using ExecVision
  • 03:34 \\u2013 ExecVision allows you to access, analyze, and share call records
  • 04:20 \\u2013 Average pay per user per year and how it ranges per sales person
  • 04:54 \\u2013 Average MRR
  • 05:24 \\u2013 Sales professionals love ExecVision
  • 06:04 \\u2013 ExecVision has coaching requests for their customers
  • 06:37 \\u2013 Every month there\\u2019s a high volume of requests for coaching
  • 07:13 \\u2013 ExecVision has voice recognition
  • 07:52 \\u2013 Richard shares how their customers find valuable keywords in ExecVision
  • 09:15 \\u2013 Richard was running Vorsight before ExecVision
    • 09:50 \\u2013 People pay per meeting
    • 10:02 \\u2013 Richard used the profitability of Vorsight to fund ExecVision
  • 10:15 \\u2013 Richard has raised capital for ExecVision
  • 10:58 \\u2013 Richard shares what drives them
  • 11:38 \\u2013 They have raised around $1M
  • 11:50 \\u2013 Richard acquired ExecVision in April, 2015
  • 12:07 \\u2013 None of the original people from ExecVision are still working with the company, but they have equity
  • 12:26 \\u2013 Retention is 90% annually\\xa0
  • 13:38 \\u2013 CAC
  • 14:42 \\u2013 Total head count is 15
  • 14:55 \\u2013 ExecVision is based in Arlington, Virginia
  • 15:27 \\u2013 First year revenue
  • 16:08 \\u2013 Connect with Richard through Call Camp
  • 18:30 \\u2013 The Famous Five

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3 Key Points:

  • Use your stress to CREATE an idea to relieve that stress.
  • Sales professionals who analyze and assess feedback well WILL improve in their field.
  • Make something that adds value to people\\u2019s lives.

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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 keep his Macbook Air 11\\u201d secure even when he left it in the airplane\\u2019s back seat pocket
  • Call Camp \\u2013 Steve\\u2019s Call Camp Movement website
  • Show Notes provided by Mallard Creatives
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