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Ryan Urban, the founder and CEO at Bounce Exchange, a fast-growing consultancy that increases online conversion rates. Listen as Nathan and Ryan talk about investing in your own start-up, why some analytics aren\\u2019t worth it, and the best eateries in Tribeca.

Famous 5
Favorite Book? \\u2013 The Psychology of Persuasion
What CEO do you follow? \\u2014 None
What is your favorite online tool? \\u2014 Gmail
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? \\u2014 Drop out of college! I should have dropped out instead of going to grad school.

Time Stamped Show Notes:
01:20 \\u2013 Nathan\\u2019s introduction
02:20 \\u2013 Welcoming Ryan to the show
02:30 \\u2013 Best eateries in the Tribeca area?
02:54 \\u2013 Bounce Exchange makes money for e-commerce companies
03:20 \\u2013 Created a new category of marketing software to increase online conversion rates
04:00 \\u2013 Why Ryan left Bonobos when he was offered $300k to stay
04:40 \\u2013 It\\u2019s crucial to get the right co-founder for a start-up
06:10 \\u2013 In 2013 Ryan made a little over $30k: he couldn\\u2019t get a loan for a wedding
06:50 \\u2013 The co-founders of Bounce Exchange are both in business
07:30 \\u2013 Their developer has equity but doesn\\u2019t work for BounceX full-time
08:30 \\u2013 Ryan didn\\u2019t want to follow the model of big software companies
09:10 \\u2013 Bounce Exchange currently has around 150 employees
09:40 \\u2013 Bounce Exchange was initially self-funded
10:30 \\u2013 In August 2015, raised $6.3 million in a VC round
11:30 \\u2013 2012 made around $105k in revenue; 2015 made $17 million.
12:00 \\u2013 Aiming to make $3.3 million in December 2016
12:20 \\u2013 Currently working with 250-300 clients
13:40 \\u2013 It\\u2019s difficult to come up with average revenue per client
15:30 \\u2013 MRR January 2016 was between $1.5 and 2 million
16:50 \\u2013 Net revenue churn is roughly 0%
18:20 \\u2013 What are Bounce Exchange spending to acquire new customers?
21:30 \\u2013 CPA of around $2k
23:10 \\u2013 Why Ryan thinks CAK/LTV isn\\u2019t a useful analytic
24:40 \\u2013 What\\u2019s a better measure? Ryan likes to use CPA to acquire a qualified demo
25:10 \\u2013 Acquiring a customer for 20% of what the contribution margin dollars will be
26:00 \\u2013 85% of the team is in New York
26:45 \\u2013 Bounce Exchange is currently in the black
28:00 \\u2013 Calculating a PNL
22:30 \\u2013 Other major costs include security and server infrastructure

3 Key Points:
Put your energy into the right start-up. Lots of talented people waste their time making bad ideas work.
Everyone feels like they\\u2019re underachieving. Decide what goals matter to you.
Decide what analytics are relevant to your business. The numbers that everyone else is talking about might not be useful for you.

Resources Mentioned:
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Host Gator \\u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Leadpages \\u2013 The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible \\u2013 Nathan uses Audible when he\'s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

Show Notes provided by Mallard Creatives

The Top is FOR YOU if you are:

A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4)

STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7)

An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1)

The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).

Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries.

Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that\'s like an audio version of Pat Flynn\'s monthly income report. Join the Top Tribe at http://NathanLatka.com/TheTop

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