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In Episode #623, Nathan interviews Richard Brasser. He\u2019s the foremost expert in helping companies increase the effectiveness and influence of their Salesforce\u2019s strategic use of social communication. He does this through his company, rFactr. Richard pursues his focus in enabling salespeople to leverage social communication and build more meaningful relationship.\xa0

Famous Five:

• Favorite Book? \u2013 Crossing the Chasm
• What CEO do you follow? \u2013\xa0 Tony Robbins
• Favorite online tool? \u2014 Outlook
• Do you get 8 hours of sleep?\u2014 Very rarely
• If you could let your 20-year old self, know one thing, what would it be? \u2013 Richard wished he knew the concept of compounding interest and the concept of deferred asset allocation

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Time Stamped Show Notes:

• 01:34 \u2013 Nathan introduces Richard to the show
• 02:15 \u2013 Companies need to engage their buyers in a more meaningful way
• 02:32 \u2013 rFactr is focused on enhancing sales people\u2019s ability to connect with people
• 02:51 \u2013 rFactr\u2019s platform is called a social port
• • 03:15 \u2013 rFactr has a per month/per user model
• 03:26 \u2013 rFactr is not a marketplace
• 03:33 \u2013 rFactr is directly plugged into companies\u2019 CRMs
• 03:55 \u2013 Average customer pay per month
• • 04:15 \u2013 rFactr has channel activations
• 04:40 \u2013 rFactr\u2019s starting price is $5K a month
• 04:49 \u2013 rFactr was launched in 2009
• 04:57 \u2013 rFactr was bootstrapped for the first 8 years
• 05:04 \u2013 rFactr had a seed round and will probably have a series A
• 05:17 \u2013 rFactr has raised a total of $9M
• 05:32 \u2013 Richard played golf on tour for 7 years
• • 05:45 \u2013 Richard made a good amount from playing golf
• 06:01 \u2013 Richard was already 7 years in business when he needed someone for the operations and finance side of the company
• 06:08 \u2013 Richard\u2019s partner was just exiting his software company when he joined rFactr
• 06:25 \u2013 Nathan tells Richard about Episode 615 where he had Shin as a guest whose company makes carbon fiber golf shafts
• • 06:47 \u2013 Richard hasn\u2019t seen Shin\u2019s product
• 07:05 \u2013 The seed round is an equity round
• • 07:17 \u2013 The last round was in 2010
• 07:40 \u2013 The company has been around for 16 years, but the main product was developed 9 years ago
• 07:51 \u2013 Richard\u2019s company started as a strategy and consulting firm
• 08:33 \u2013 Richard shares how the first company was valuated
• 09:31 \u2013 Team size is 18
• 09:39 \u2013 rFactr has 220 paying customers
• 09:44 \u2013 Average MRR
• 10:29 \u2013 Richard shares why they\u2019re having the small companies together with the biggest ones
• 11:25 \u2013 Gross customer churn
• 11:37 \u2013 CAC
• • 12:08 \u2013 rFactr has no paid marketing
• 12:23 \u2013 Team\u2019s location
• 13:45 \u2013 The Famous Five

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3 Key Points:

• Small companies may not be able to pay as much as the big companies, but the level of help they need is similar.
• Use your money from your exit for your new company.
• Paid marketing isn\u2019t always necessary\u2014know your options to better decide if it\u2019s right for you.

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Resources Mentioned:

• 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
• Organifi \u2013 The juice was Nathan\u2019s life saver during his trip in Southeast Asia
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• 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
• 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