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Dr. Milton Chen. He\u2019s the co-founder and CEO of VSee, and has a PhD from Stanford on the design of video collaboration. Additionally, he was the co-founder of XMPP Video Standard which is now used by Google Talk and Facebook Chat. He has deployed VSee for Hillary Clinton, Angelina Jolie, Linkin Park and UN Secretary General Ban Ki Moon.

Famous Five:

• Favorite Book? \u2013 Zero to One
• What CEO do you follow? \u2013\xa0 Marc Benioff
• Favorite online tool? \u2014 Rapportive
• 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 Milton would tell himself not to be as na\xefve and clueless

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Time Stamped Show Notes:

• 01:40 \u2013 Nathan introduces Milton to the show
• 02:20 \u2013 Vsee is a SaaS company
• • 02:31 \u2013 Vsee offers mobile app and call center workflow
• 03:04 \u2013 Price range is $49-499 per medical provider per month
• 03:30 \u2013 Milton explains how VSee provides a service to client, Trinity Health
• 04:30 \u2013 Milton assures their client security and confidentiality
• 05:05 \u2013 Vsee was launched in 2008
• 05:33 \u2013 Milton went to graduate school because he wanted to become a professor
• 05:46 \u2013 Milton now loves everything about startups
• 06:03 \u2013 Vsee\u2019s initial investment
• • 06:24 \u2013 It was an equity investment
• 06:42 \u2013 Milton was clueless about valuations and didn\u2019t know what he was doing
• • 06:59 \u2013 Milton started VSee after graduate school with zero knowledge about business
• 07:15 \u2013 Milton was just grateful that people wanted to invest in VSee
• 07:35 \u2013 Vsee currently had a thousand paying customers
• 09:00 \u2013 Average number of nurses in VSee
• 09:23 \u2013 First year revenue
• 10:11 \u2013 Average amount raised
• 10:40 \u2013 Team size is 52 and they are based in Sunnyvale, CA
• 12:12 \u2013 VSee is currently cash flow mutual
• 12:51 \u2013 Vsee invests in making sure their customers feel secure
• 13:18 \u2013 Milton shares how their technology is built into Facebook Messenger
• 14:00 \u2013 Milton doesn\u2019t get royalties
• 14:40 \u2013 Vsee started as a general video conference market
• 14:50 \u2013 Milton shares how they pivoted to the health industry
• 15:34 \u2013 Vsee has an inside sales team
• • 15:41 \u2013 Vsee has 3 sources for sales
• 16:22 \u2013 Vsee is currently not into paid marketing
• 17:40 \u2013 Vsee has close to 100% customer retention
• 18:17 \u2013 Vsee is on a net negative churn
• 19:20 \u2013 2017 revenue target
• 20:56 \u2013 Vsee\u2019s last closed round was in 2011
• 21:10 \u2013 Milton is just focused on acquiring more customers and is not interested in any acquisition talks
• 22:47 \u2013 The Famous Five

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3 Key Points:

• Everyone has to start somewhere \u2013 even if it means being na\xefve and clueless.
• Getting into a market with less competition could mean more customers and sales.
• Paid marketing won\u2019t always work so test everything, first, before investing in a certain marketing strategy.

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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