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Ep 121 Chad Wittman joins Nathan Latka. Chad sold EdgeRankChecker for about $3m and then founded\\xa0Dolly, an app built to bring moving into the 21^st century. Listen as Chad talks about abandoning the \\u201csecurity\\u201d of a job, bootstrapping a start-up, and managing a business with partners.

Click here to join the top tribe and instantly learn how Nathan made his first $10k at 19 years old: http://nathanlatka.com/startertribelive

3 Key Points:

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1. If you want to reap 100% of the rewards, you need to bootstrap your business.
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2. The sharing economy has touched a variety of markets, but not every market\\u2014find your niche.
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3. Valuations are insanely high right now.
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Episode Notes:\\xa0

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• 01:02 \\u2013 Nathan\\u2019s introduction to today\\u2019s show with\\xa0 Chad Wittman
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• 01:25 \\u2013 Edge Rank Checker
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• 02:19 \\u2013 Making $50-60K in the agency
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• 03:00 \\u2013 How Edge Rank Checker made money
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• 03:30 \\u2013 Launched in 2012 with a $30/month price point
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• 04:22 \\u2013 Two co-founders
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• 05:40 \\u2013 Within 2 months they were making $20K per month
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• 08:20 \\u2014 $60K a month at its peak before selling to Social Bakers
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• 08:44 \\u2013 Selling the technology but not the team
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• 09:10 \\u2013 Negotiating Sale Price
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• 11:30 \\u2013 6 month earnout
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• 11:55 \\u2013 75-25 cash-equity split
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• 12:50 \\u2013 Chad was paid out 100% b/c they were 100% bootstrapped
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• 13:20 \\u2013 MRR x $60k x 12 x 4
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• 13:44 \\u2013 The moving business digitized\\u2014Dolly
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• 14:15 \\u2013 The financial model of Dolly
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• 15:00 \\u2013 Valuations are high right now\\u2026some as high as $25X
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• 16:05 \\u2013 The sharing economy has touched a lot of form factors, but not the pack-up truck market
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• 17:48 \\u2013 The Famous Five
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Resources Mentioned:

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• Growth Geeks \\u2013 The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects without hiring full time employees.
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• Edge Rank Checker \\u2013 Chad Wittman\\u2019s original foray into entrepreneurship
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• Dolly\\u2014Chad\\u2019s new venture, an app for moving your stuff intelligently
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Famous 5

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• Favorite Book?\\u2014 Getting Real\\xa0(I\\u2019m listening to How to Win Friends and Influence People for free using Audible while I travel for the holidays)
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• What CEO do you follow?\\u2014 Elon Musk
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• What is your favorite online tool?\\u2014 Slack
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• Do you get 8 hours of sleep?\\u2014Yes
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• If you could let your 20 year old self know one thing, what would it be?\\u2014Do not overvalue an idea
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Listen to The Top if you want to hear from the worlds TOP entrepreneurs on how much they sold last month, how they are selling it, and what they are selling - 7 days a week in 20 minute interviews! Join the Top Tribe at http://NathanLatka.com/TheTop

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.

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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