Blue Stream Analytics revenue, CEO Maureen McGarry, team size, customer count, churn, and more in 2023.

she's a top broker in Minnesota already her secret power is this offer she built for herself blue stream analytics generated over 4 million bucks in Deal value for her in 2022 of which she keeps three percent of so called 150 000 bucks there of Revenue now she has been frustrated investing over 100 000 bucks of her own money in the engineering on our third iteration but you know what now it's working it's paying for itself and the only question is who should she start selling this to she wants to sell it to other folks other brokerages but also doesn't want to lose the advantage it brings her we'll see what she does next hey folks my guest today is Maureen McGary she is the she's a realtor and broker since 1995 passionate about working with investors and developed blue stream analytics or software company it's proprietary software that pinpoints Investments and delivers analytics quickly as a market leader in residential investing she's eager to help investors succeed in reaching their goals marine radio tickets to the top sure absolutely so so how do you decide to go from you know making six percent commissions to you going you know what I want I want software margins instead let me build software that's a good question um it was pure frustration um you know trying to find investment property for my clients and sitting there with spreadsheets punching in numbers uh you know after a few hours of that you start pulling your hair out and when you have clients sitting there with hundreds of thousands of dollars saying find me something and you can't get through the properties fast enough I literally just one day so there has to be a a faster way to do this and that's where the idea was born um so I never intended to be a a software developer but that's that's what happened now is blue stream does it have customers or are you the only customer use it to support your customers right so I developed it to support my customers but then the work got out and so now we're we're working to uh spread it around to other parts of the country and get it out there to other Realtors and eventually other investors um so that they can use it too but right now just you just us yes okay all right help me understand a little bit about sort of when you made a decision to start writing the code so you you got into the sort of this space in 1995 when did you write the first line of code for blue stream so um we started the the initial code probably um let's see I have to think like prior to covet uh 2020. um no it was probably 2017 2017 2017. yes and what did you do did you code it yourself you learned how to code or you're hired no no I I learned the hard way how to get your ideas out of your head to a developer you know I had to go through that whole process of learning how to explain to a developer exactly what I wanted to do um and so we had a software that was working for us but it didn't really have a user interface um and so then I learned what a user interface was [Music] um yeah so that's so that's where we started and um who'd you hire I mean how did you find a person engineer well we we interviewed a lot of Engineers and um you know security was a big thing for us because um as it turned out obviously we couldn't find anybody else that was doing this so we wanted to make sure we had somebody we could trust and that was not as easy as we thought um so we ended up hiring somebody that was related to me and that was great because I I 100 trusted him and we worked with him for a couple years until um he had some health issues and then we um went with another recommendation that we had um that we're working with now you Source these folks directly yourself you went on LinkedIn Etc right right yeah okay yeah and what did you learn the software world so he helped and he he kind of guided me too your husband is from the software world and sort of helped you find the first Engineers yeah kind of kind of kind of what to look for what questions to ask that shinsan what um you know what I needed to to be aware of yeah that helped a lot I mean the thing with a lot of folks make mistakes here because it says you're speaking a different language so you end up spending a bunch of money on a spec that isn't what you need then you have to fire that person and the next person needs to start from scratch because they have you know they want to build on python instead of SQL or whatever right it's a whole different set I mean how did you go through these iterations and I mean I don't want to ask this question I hope it's no dollars but how much money do you feel like you wasted sort of before you figured it out we're on uh the third uh revolution of this software I I would say we probably have a hundred thousand into it that was a waste oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this year now the secret valuation is there's many different ways to value a SAS business so the reason you're going to see three or four different evaluations inside of your founder path dashboard this is all free by the way is because depending on who's doing the buying of your SAS company you're going to get a different valuation a VC is going to pay a different valuation private Equity Firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when I hover over here here right so the teal is what a VC would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on YouTube all these datas are built from real-time valuation data points Founders share with us on the show so traction 1.2 million seed round 3.7 raise they sold 22 percent of their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of SAS valuation than what you can get now inside of founder path and we're thrilled to bring it to you all right we're gonna go back to the YouTube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash valuations or if you go to founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform I hope to see you there all right let's jump back into the interview yeah yeah but I mean look it's a waste but also you sort of needed to do that to learn right right yeah it's it was a process that because of what we're doing and how we're doing it um it was tricky to put it together too so what percent of your time last year was spent on the traditional brokerage business versus trying to build the software company I would say um probably a third of my time was just on software and a lot of that was just making contacts finding data because expanding it nationwide means finding the right data to do that and that took a while um and then I also but I also used what does that mean you're identifying sources for the engineer to build into the tool yes yes okay um one of the one of the pieces that I use here in Minnesota which is where I am and by the way today is a snow day so I'm working from home because we got this much snow um the um we have a direct feed of the MLS coming into our system so if you've ever worked with the MLS which I don't know that you have um there's I think 500 or 600 mls's in the country and you can't just go in and sign up for that and get that data feed you have to be licensed in that area you have to jump through all kinds of Hoops it's not easy to do so um tracking that Source down and figuring out how to expand to multiple markets is not easy see yeah so that that that was spent a lot of time on what pieces do I need to put all this together so that when we roll it out into other markets we're ready to go well so how do you do that I mean don't you you either have to sort of figure a way to scrape it or have a local contact in every area who's got all the certifications to get you direct access and in that case why do they need blue...