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Matt Ekstrom. He\u2019s one of the founders of Prospectify and formerly co-founded HiringSolved. He\u2019s in-charge of all things revenue for Prospectify, which is a promising sales and intelligence platform.

Famous Five:

• Favorite Book? \u2013 Sales Acceleration
• What CEO do you follow? \u2013\xa0 Gary Vaynerchuk
• Favorite online tool? \u2014 Google Search and HubSpot
• 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 \u201cI would have studied more about startups and being an entrepreneur\u201d

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Time Stamped Show Notes:

• 01:30 \u2013 Nathan introduces Matt to the show
• 01:55 \u2013 Prospectify is a SaaS model
• 02:14 \u2013 Prospectify\u2019s long term goal is to be able to scale personalization from the sales standpoint
• 02:25 \u2013 Prospectify has monthly subscriptions
• 02:45 \u2013 Prospectify\u2019s pricing:
• • 03:25 \u2013 The prices from the website are $40, $190, $490, and $975
• 03:33 \u2013 Average customer pay per month is $352
• 03:50 \u2013 Prospectify was launched in February 2016, and was in beta in January 2016
• 04:16 \u2013 Current number of customers is around 100
• 04:46 \u2013 MRR is over $20K
• 05:09 \u2013 Prospectify is based in Phoenix
• 05:20 \u2013 Prospectify just closed their first month
• • 05:25 \u2013 It was in Angels and a million dollar round
• 05:45 \u2013 Matt shares why he decided on an equity round and not a convertible note
• 06:31 \u2013 Matt uses the trajectory to argue for higher valuation
• 07:29 \u2013 Prospectify is about to launch their company search which includes 12 million companies starting in the USA
• 08:10 \u2013 The people Prospectify has targeted
• 08:18 \u2013 Prospectify\u2019s customer base is diverse
• 08:45 \u2013 Annual customer churn
• 09:45 \u2013 Matt shares what he will do to keep customers paying and NOT cancel after receiving all the data
• 11:10 \u2013 Prospectify\u2019s top data sources
• • 11:22 \u2013 Matt shares what they used to validate the concept of Prospectify
• 12:18 \u2013 Fixed cost per month for crawling
• 13:11 \u2013 Matt shares where to get credits
• 14:00 \u2013 Customer LTV
• 14:34 \u2013 Current team size
• • 14:45 \u2013 Headcount expenses
• 16:30 \u2013 The Famous Five

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3 Key Points:

• Keep people up to date\u2014that way, they will keep on paying.
• Decide whether an equity round or convertible note will be most advantageous for you.
• Discern what is the right track and try to stay on it.\xa0 \xa0

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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
• Show Notes provided by Mallard Creatives