EP 540: Cliently Hits $8k MRR, Aims for $5m Valuation Next Round with CEO Spencer Farber

Published: Jan. 15, 2017, 10 a.m.

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Spencer Farber. He is the CEO and founder of Cliently and he\\u2019s been in the industry for 10+ years working across many spaces. He discovered one thing\\u2014the constant pain for companies is to define creative ways to generate leads and THAT is what he\\u2019s trying to solve with Cliently.

Famous Five:

  • Favorite Book? \\u2013 Marc Benioff\\u2019s books
  • What CEO do you follow? \\u2013\\xa0 Mikita Mikado
  • Favorite online tool? \\u2014 Trello
  • 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 People are going to throw curveballs and you just need to understand how to deal with them

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Time Stamped Show Notes:

  • 01:42 \\u2013 Nathan introduces Spencer\\xa0 to the show
  • 02:12 \\u2013 Cliently helps a client engage with prospects
  • 02:23 \\u2013 A lead is only valuable if you\\u2019re able to do something with it
  • 02:33 \\u2013 Cliently is a SaaS model
    • 02:40 \\u2013 Cliently\\u2019s subscription plans starts at $99 to $599 a month
  • 02:50 \\u2013 Average RPU
  • 03:18 \\u2013 There are clients who pay annually
  • 03:45 \\u2013 They currently have 70-80 customers
  • 04:02 \\u2013 Cliently is bootstrapped with $30K and friends and family with $75K
  • 04:22 \\u2013 Cliently was launched in February 2016
  • 05:00 \\u2013 Spencer shares about a client in Australia and how they are using Cliently
    • 05:20 \\u2013 The client is BigReviewTV
    • 05:28 \\u2013 Cliently creates custom campaigns for them
  • 06:10 \\u2013 \\u201cWe are not trying to be a CRM but we are trying to put the pieces together that are essentially going to help engagement\\u201d
  • 06:45 \\u2013 Cliently is using different APIs
  • 07:00 \\u2013 Spencer is looking to partner with Bond.co in the future
  • 07:21 \\u2013 Spencer shares how Cliently is going to beat the \\u201cother guys\\u201d in their space
  • 08:12\\xa0 - Spencer wanted to raise capital
  • 08:54 \\u2013 Cliently is using multiple sources for their leads
  • 09:49 \\u2013 Cliently\\u2019s target MRR
  • 09:58 \\u2013 Spencer would raise $500K on an equity round
    • 10:30 \\u2013 Spencer would give up 10-15% to get the target MRR
  • 11:06 \\u2013 Spencer shares how Cliently\\u2019s system is unique
  • 11:34 \\u2013 Team size
  • 12:05 \\u2013 Gross customer churn
  • 13:05 \\u2013 Team location
  • 15:00 \\u2013 The Famous Five
  • 17:18 \\u2013 Connect with Spencer through email

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3 Key Points:

  • A lead is only valuable if you\\u2019re able to do something with it.
  • Stand out in your space\\u2014give your client more reasons to stick with you.
  • If you have a dream, pursue it.

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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
  • Spencer@Cliently.com \\u2013 Spencer\\u2019s email address
  • Show Notes provided by Mallard Creatives
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