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Lauren Sullivan. She\\u2019s the co-founder of Flightfox, a site which Nathan recently used to book multi-country travel. Flightfox helped him understand the best way to leverage his points from his Chase Credit Card for travel purposes. Flightfox helps you search flights, manage your trip, and leverage your loyalty points, to help ease your trip planning experience and it is growing fast.

Famous Five:

• Favorite Book? \\u2013 Good to Great
• What CEO do you follow? \\u2013\\xa0 John Mackey
• Favorite online tool? \\u2014 PocketSmith
• Do you get 8 hours of sleep?\\u2014 Yes, currently
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 Lauren wished she had stopped working for someone else and started building her own company earlier

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Time Stamped Show Notes:

• 01:25 \\u2013 Nathan introduces Lauren to the show
• 02:02 \\u2013 Flightfox is an online and real-time platform that manages travel for individuals, companies and organizations
• 02:15 \\u2013 Flightfox\\u2019s revenue model is to charge per trip and they make money from commission
• 02:32 \\u2013 Flightfox\\u2019s expert will help match and plan a trip and they will authorize the credit card you use
• 03:33 \\u2013 Flightfox books for companies, too
• 03:50 \\u2013 The more complex the trip, the more expensive it is
• 05:10 \\u2013 If Flightfox can\\u2019t find you a trip, they won\\u2019t charge you
• 05:34 \\u2013 Flightfox was launched in 2012
• • 05:45 \\u2013 Flightfox was originally launched as a contest based, cloud source system
  • 06:10 \\u2013 There were a small number of the majority winning the contest
  • 06:21 \\u2013 The model was switched to a one-on-one
• 07:04 \\u2013 The experts are contactors
• • 07:15 \\u2013 The experts get a fee per trip
  • 07:40 \\u2013 Most of them are full-time
• 07:50 \\u2013 Flights metrics
• • 08:03 \\u2013 Flightfox is focused on companies and organizations
• 08:14 \\u2013 CAC is a bit high
• 09:20 \\u2013 There are at least 50 companies who have booked with Flightfox
• • 09:35 \\u2013 5-10 companies are booking at least 30 trips per month
  • 09:50 \\u2013 Companies usually have 80 people
• 10:20 \\u2013 In 2012, Flightfox has raised $850K
• 10:50 \\u2013 Four Team members
• 11:50 \\u2013 Flightfox has pivoted a couple of times already
• 13:19 \\u2013 Lauren has been through alot with her company thus far, and has chosen to carry on
• 14:14 \\u2013 2016 total revenue
• 14:40 \\u2013 Flightfox is close to breaking even
• 14:53 \\u2013 Average MRR
• 15:11 \\u2013 Raising another round will depend on the things that will happen in the future
• 17:00 \\u2013 The Famous Five

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3 Key Points:

• Changing your business model isn\\u2019t easy \\u2013 but, it\\u2019s very normal to have to do so.
• Going through the most difficult times will test not just your patience, but your ability to make the best decisions.
• If it\\u2019s what you really want, just keep going.

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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
• Freshbooks \\u2013 Nathan doesn\\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives