How Earnr Reached $240K Revenue With a 20 to 50% Free-to-Paid Conversion Rate (Interview with CEO Enzo Ottens)

Intro and Company Overview

Nathan Latka

00:00At Earnr, they're building a tool called earnr, which is helping accountants serve SMBs faster. They've got between 1,000 and 10,000 registrations, and they convert 20 to 50% of registrations to paid customers at $35 a month. So north of $20,000 in revenue today. They just launched last year, so healthy growth. They've only raised with the accelerator or sorry. Under a million bucks. Right? So pretty capital efficient. Team of 10 today with five engineers as they look to continue to

00:22scale. Hey, folks. My guest today is Enzo Ottens. He's the cofounder and CEO of earnr, the robo accountancy for small businesses. He's a recovering management consultant, a delivery rider, and former chief of staff at Loot, Bó, and Mettle. I'm sure I butchered that name. Enzo, you ready to take us to the top?

Guest Introduction: Enzo Ottens

Enzo Ottens

00:38>> Yeah. Let's go.

Nathan Latka

00:39Come on. Give me the real how do you pronounce

Enzo Ottens

00:42>> All the different challenging bank names?

Nathan Latka

00:45Yeah.

Enzo Ottens

00:46>> Yeah. It's you did you did perfect. Bó, Mettle, and Loot.

Nathan Latka

00:49Ah, okay. I nailed it. Very good. Alright. So tell us what earnr is and and why SMBs? You know, SMBs go out of business all the time, so your churn's gonna be an issue.

What Earnr Does and Why SMBs

Enzo Ottens

00:59>> Yes. It's growing kind of part of the business markets. Like, a lot of people are turning to self employed income as well as starting small businesses after the pandemic. So the kind of trends are gig economy, your passion economy, and your sharing economy. And what does earnr really do? So what we've seen is that a lot of these people still use accountants. They're very, very expensive expensive. Why can't you have software that does the work of

01:23>> an accountant for you for a fraction of the cost?

Nathan Latka

01:26Mhmm. Mhmm. And so how how do you model this? And what's the average customer pay you per month, would you say?

Pricing Model and Average Revenue Per User

Enzo Ottens

01:32>> So a traditional accountant for most users costs anywhere between 500 to 1,000 if you're a sole trader and up to £1,000 if you're a small business. We charge them subscription wise £30 if you're a sole trader, and then limited companies anywhere between 50 and 100.

Nathan Latka

01:48What do you mean sole trader? Do you have a lot of bankers, traders who use you, stock market people?

Enzo Ottens

01:53>> So sole trader is the the British term for someone that's self employed.

Nathan Latka

01:58Ah, I see. Okay. But but it's about 35 United States dollars per month on average?

Enzo Ottens

02:03>> Yeah. Exactly.

Nathan Latka

02:05Very cool. Okay. Put this on a timeline for me. When did you launch the business?

Launch Timeline and First Customer

Enzo Ottens

02:09>> So we first launched the business in 2021. And then we kinda went through one tax return season at the end of the year in 2021. So in UK every January, and now going to our second tax return season.

Nathan Latka

02:25That's awesome. How did you get your first customer?

Enzo Ottens

02:30>> Our first customer was through a small business community called Mindful Markets.

Nathan Latka

02:36Mindful Markets.

Enzo Ottens

02:38>> Yeah. Exactly. So during the pandemic, a lot of markets that were first in person turned online, so a lot of new business propped up that helped people move from a in person marketplace to online. So they were doing Zoom calls, and that's kinda how we got our first customers.

Nathan Latka

02:56Yeah. But was it like a Facebook group or a LinkedIn group? Or how did you find this group?

Enzo Ottens

03:01>> It was initially, we found the person that ran it through a Facebook group, and then we started doing calls with them over Zoom, helping them with their taxes, and then they were the first customers that then started using the app.

Nathan Latka

03:14That's amazing. And I'm sorry. What was the name again?

Enzo Ottens

03:16>> Mindful Market.

Nathan Latka

03:18Mindful Market. Very interesting. Okay. And then fast forward to today, how many customers are you working with?

Enzo Ottens

03:23>> So we now have thousands of customers. We don't like to disclose the exact amount because we're still quite early, but we're doing pretty well.

Nathan Latka

03:30Is it fair to say, like, between 1 and 2,000, something like that?

Enzo Ottens

03:34>> Between 1 and 10,000.

Nathan Latka

03:36Oh, okay. 10,000. Very cool. Now that's not easy to go from, you know, a thousand or, you know, nothing to over a thousand customers in under a year and a half. So how did you do that? How are you growing today?

Growth Channels and Tax Season Marketing

Enzo Ottens

03:46>> It's a bit of a mix. So our most effective channels is when the need is highest, which is during tax return season and this classic performance marketing. Something to keep in mind is that your average retention when it comes to accounting is ten years. And on a product that you pay anywhere between 30 to £100 a month for, we can be quite effective when it comes to performance marketing during tax return season. Outside, we just use

04:13>> a collection of referrals and SEO that works best.

Nathan Latka

04:16What do you consider effective during tax season on your paid marketing? Right? What are willing to spend to get a new $35 a month customer?

Enzo Ottens

04:23>> Yeah. So coming from a a challenger banking background, the average there that we had was anywhere between a 100, 200 pounds, or in dollar terms, like 120 to $250. If we can acquire somebody for less than 100, that's already really effective because the payback payback period is so short. We've seen stuff way lower than that, so anything less than $20.

Nathan Latka

04:47Oh, what's going on there, YouTube? Good to see you guys. Now imagine this. You love watching these interviews with SaaS founders, but imagine if we took all of the valuation data out from over 2,807 interviews I've done manually. Saves you a lot of time. Well, we've done this. We've built it into the beautiful interface inside of Founderpath. Check this out. I'll show you how you can access this in a second, but you log in, you connect

05:11your Stripe account, you see your valuation real time. You can see what it changed over the past eighty eight days and even set goals for valuation this year. Now the secret evaluation is there's many different ways to value a SaaS business. So the reason you're gonna see three or four different valuations inside of your Founderpath dashboard, this is all free by the way, is because depending on who's doing the buying of your SaaS company, you're gonna

05:35get a different valuation. A VC is gonna pay a different valuation, Private equity firm is different. If you're gonna 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. 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

05:57not built off random data. Again, you guys hear these interviews on YouTube. All these datas are built from real time valuation data points founder share with us on the show. So traction 1,200,000 seed round 3.7 raise. They sold 22% of their business. Go in here and filter by the event. Maybe you only wanna 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

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07:11the interview. What enables you to do that? That's not cheap. I mean, as you know, in the challenger and bank world, people are willing to spend a lot to get a new customer. So have you found, like, a unique keyword you're targeting with paid, or you're doing, like, TikTok ads or there's not a lot of competition for yet? But why why can you get under a $100 CAC?

Enzo Ottens

07:27>> I think it is TikTok that we've used exactly like you said. I think what what really worked well for us were personable ads. So kinda talking in the camera, kinda saying, hey, We're this new app. It's really amazing. You should try and check it out. We built trust

Nathan Latka

07:45that's very that's very boring. What do you actually say?

TikTok Ads and Customer Acquisition Cost

Enzo Ottens

07:51>> I I think that is literally what we say.

Nathan Latka

07:53It's it's No. Come on. If I saw that on TikTok, I'm I'm skipping it immediately. There's no way that's converting me.

Enzo Ottens

08:00>> Well, you're also not our target audience. Like, most of our customers are are are women. Most of our customers are are kind of people that like Etsy sellers, gig workers. It's it's literally as simple the the the thing that did the best was just talking into the camera while you're walking somewhere and be like, talking like a normal human being saying, you know, this kind of stuff is really hard. I found a tool that works really

08:23>> well. You should try and download it and check us out. That's that's kind of as simple as it was.

Nathan Latka

08:29Are we is this right now considered tax season?

Enzo Ottens

08:32>> No. Not yet. So for us, it's December and January.

Nathan Latka

08:36So so give me a sense of, like, what you'll scale to in terms of paid spend. Are you talking like you're spending $10,000 a month on paid or, like, 1,000,000 per month on paid?

Enzo Ottens

08:43>> No. No. Way less than that. We last tax return season, I think the highest we went is maybe $2,000 a week.

Nathan Latka

08:53Okay. Okay.

08:54Got it.

Enzo Ottens

08:55>> But never higher than that.

Nathan Latka

08:56Yeah. Yeah. Okay. So call it, like, you'll cap maybe, like, 10 k per month in paid. But that was last year.

09:00Maybe this year, you double it.

09:01Who knows?

Enzo Ottens

09:02>> I think for us, it's really about the payback ratio. If we get enough customers to go directly to our monthly subscription, then why not?

Nathan Latka

09:10Now when you look at the cohort, you signed up exactly one year ago, and folks were recording us November 2 here. You go back and look at the cohort Enzo from last December. How many of them are still paying today? Like, what's your churn look like?

Enzo Ottens

09:21>> I think it's quite sticky. So most of our customers are still paying after one year.

Nathan Latka

09:27Do you do you use any tools to measure this? I mean, net dollar retention is the name of the game in this world. Right? If you can have above a 100%, that's really fantastic, especially at this price point.

Enzo Ottens

09:37>> We kinda track monthly active usage. Like, we use platforms like PostHog that works quite well for us to track that. But most of our payments kinda done through Stripe, so it's quite easy for us to to measure that as well there.

Nathan Latka

09:50Well, yeah. So when you look at this in Stripe, I mean, you guys above a 100% net dollar retention year over year?

Enzo Ottens

09:56>> We're not actively measuring net dollar retention figures. Like, we're we're focusing more on just kind of what we built so far. We're looking a lot more into monthly active users and what different features within our app customers use. Revenue is obviously an important metric of that, but it's not it's not the thing that I look at every single day.

Nathan Latka

10:14Well, let me paint a picture for you. Right? If you spend a $100 on a TikTok ad to get a $35 a month user and they cancel after the second month, you only made $70. So you're losing money. How do you know if you're losing money or making money if you're not tracking retention?

Enzo Ottens

10:27>> I'm tracking retention in terms of monthly active usage. I'm tracking retention in terms of because we're talking about the subscription, but we're not only just a subscription business. We also have a freemium business model that people move into onto subscription. So what I really care about is how many of these users are using our our app every single month and that we looking at that in terms of churn. If somebody churns after months two without ever

10:48>> having touched the app, I don't I wonder whether the problem is because we didn't do the service right, the problem wasn't right. I'm looking more into kinda the same kinda strategy that the guys from Superhuman did. Look at the customers that would be really sad if you would no longer exist. What are you getting right? And how can I replicate for those customers that aren't getting that value into the same scenario as them? That's how I'm

11:11>> looking at it. I'm not looking at total figures yet.

Nathan Latka

11:13Just to be clear, when you're spending a $100 on paid, that's that's a $100 to get a new paid customer, not a new free trial. Right?

Enzo Ottens

11:19>> Yeah. Yeah. Correct. Yeah. Yeah.

Nathan Latka

11:21Okay. Got it. I guess that's what I'm a little bit confused about, though. Right? So how do you know if your paid marketing spend is is worth it or not? How you know if users stay long enough to for you to make your payback period back? If your payback period's three months, but they turn after two months, you lose money.

Enzo Ottens

11:36>> Yeah. That's correct. We we we but we don't yet. I like, it's it's it's not something that we're currently just focusing on. We're focusing more on monthly active usage. Revenue is important. Churn is important.

Nathan Latka

11:52Okay. Let's focus

11:53on what you focused on.

11:54I'll stop I'll stop trying to push you to think about something you're not thinking about. So monthly active what is how do you define a monthly active user?

Enzo Ottens

12:00>> Somebody that logs into the app once a month.

Nathan Latka

12:03Okay. But isn't that, like, a sort of a fake way to do it? Anyone can log in. Don't you wanna know if they actually, like, got value from it, not just sort of, like, log in?

Enzo Ottens

12:13>> Yes. Of course. But, I mean, define value. Like, this for example, there's some people that log in to the app. The only thing that they really look at is what their tax estimate did for that year, and then they and then we don't see them for another month.

Nathan Latka

12:25Okay. There it goes. That's what you're tracking. Did they log in and view that particular report, and then that's active?

Enzo Ottens

12:31>> No. Because that's that's one of the features that we have. The other one is people can see how much income they've made in the app. But the other one is see people can see what their profit margin is. Yeah. We also have a feature that allows people to see short videos explaining key tax terms. Like, it it's not it's I'm not looking at, oh, somebody has done a specific feature.

12:50>> I can look at there's different reasons why they log in.

12:53>> The total picture is what I see is monthly active users. We don't really see users that just open the app and then immediately log off again every single month.

Nathan Latka

13:01That's why I'm asking. Right? There's a bunch of you know, we've this is our 3,200 and eightieth episode. Right? And plenty of people come on and say, we have a million monthly active users. Yeah. But you know what? They're bankrupt because they consider an active user someone who, like, touched the app one time in a month. They didn't actually log in and watch training video or view their profit and loss statement or look at their tax

13:19planning. So what I was trying to learn from you is what are those key activation things you want people looking at every month? And if they do that, you know they're gonna pay you eventually.

Enzo Ottens

13:29>> The key activations isn't really about multi active users. The key activation that we've seen is, does somebody trust us to connect their bank accounts in the app? So kind of how we how we automate it is we get access to transaction data, and that kind of powers the rest of the features. That is our key activation metric. How many people put in their national insurance number or their social security number for The US? Like, those are

Bank Account Connection as Key Activation Metric

Enzo Ottens

13:52>> the key things that that lead people to move to the paid part of the app rather than the usage of certain things.

Nathan Latka

13:59Those are two very, very, very, very, very strong signals if you can make those happen. So what have you tested? I imagine it's not easy to convince people to connect their bank off a TikTok ad.

Enzo Ottens

14:11>> More than you think. So around a fifth of our customers connect their bank account straight when they download the app.

Nathan Latka

14:17That's huge. 20% are are are connected. So if you sign up I'm I'm making this up, a thousand people last month, you're saying 200 of them will will connect their bank right away first first session.

14:27Wow.

Enzo Ottens

14:28>> Correct. Yep. I mean, in in in The UK, it's maybe slightly different than The US where there's a lot of regulation around open banking, as they call it. So it's not like give us your login codes to your Chase bank. It it doesn't work like that.

Nathan Latka

14:41No. You're using Plaid or SaltEdge or Rails or or Codat or

Enzo Ottens

14:44>> one of these Yeah. Yeah. Yeah. Exactly. And that's kinda getting more people are getting more and more used to that. And this pain point is high. Right? Like, people really don't wanna spend any time on tax. So if all I have to do is connect my bank account and you can help me with that, great.

Nathan Latka

14:56They're they're willing to do that. Yeah.

Enzo Ottens

14:58>> And then that kinda goes up significantly after they log in to the app. So some people choose not to connect to the app, but then a lot of the features don't work. So they kinda play around with this, realize, okay. This is not just a a random company. It's a

15:12>> lot more legitimate than that. And then

15:14>> they connect their app later on their their bank account later on.

Nathan Latka

15:17So before I go back anymore the origin story here, because you have a background in this space that I wanna capture. The when you look at monthly active users today, like, what is it, and and how do you what do you wanna hit by the end of the year and next year?

Enzo Ottens

15:32>> We've kinda focused a lot on growth recently. What I really try and focus on now is retention. So in terms of percentage, I wanna make sure that our customers, anywhere between 60 to 70%, are monthly active users. So I'm looking at kind of how can I make them come back to the app, how can I make them get value out of the app? So in terms of total numbers, I don't really care about that as much

Monthly Active Users and Retention Focus

Enzo Ottens

15:55>> over the next eighteen months.

Nathan Latka

15:57Well, sure. But you could have 10 users that log on and six log in every month, and that hits your MAU goal, but that's not a viable business long term.

Enzo Ottens

16:05>> Yeah. Okay. But you already know that we're not 10 users. So I I I think I have a a big enough dataset now to look at actual trends and not statistic anomalies. And once I've hit certain kind of retention points, and I've we've already tested certain acquisition channels that seem to work for us, I can put more money into acquisition channel that leads to exactly like you said, not people that

16:29>> that come in, pay for two months, and then and then never come back.

Nathan Latka

16:34Yep. So so how many new installs do you think you'll get here in November?

Enzo Ottens

16:40>> That is depends. Actually, it depends on how much money we're gonna spend.

16:44>> At the moment, we're not spending any any money on on anything in terms of acquisition.

Nathan Latka

16:50Well, I assume you'll still get users even if you don't you you can only get users if you pay for them?

Enzo Ottens

16:55>> No. No. No. We we get users when when when

Nathan Latka

16:58Yes. And so how many folks will sign up how many folks will sign up for earnr here in November? I'm just trying to get a sense of if you're signing up thousands per month or 100 per month or millions per month.

Enzo Ottens

17:07>> Oh, no. No. Outside tax season, it's hundreds.

Nathan Latka

17:10Hundreds. Okay. Got it. And then tax season, you spike.

Enzo Ottens

17:12>> Yeah. Exactly.

Nathan Latka

17:13I see. Very, very cool. Alright. Let's get more of the story here. So you launched this thing in 2021. Sole founder or you have cofounders?

Enzo Ottens

17:20>> I have a cofounder, Anil.

Nathan Latka

17:22How'd you guys meet? Who does what? Are you the CTO or business guy, or how

17:25do you split it?

Enzo Ottens

17:26>> He's CTO. I'm a business guy. We met on an accelerator program called Antler.

17:33>> It's kind of putting 80 people in a room and say, go go find a partner and build a business.

Nathan Latka

17:38That's amazing. Does Antler is this sort of typical sort of y c 7% for a 125 k sort of deal?

Enzo Ottens

17:46>> Yeah. Basically. I think that the things that we have here is Entrepreneur First, Antler. They're also in The US. They start out in Singapore. They kind of

Nathan Latka

17:56But they will write a check. Right? You're not just having to give them a bunch of equity for nothing. Right?

Enzo Ottens

18:00>> Yeah. Yeah. They'll they'll write a check. Yeah. Yeah. Yeah. They I think their standard terms it depends on the location, but it's anywhere between a 100 and 150 for

Nathan Latka

18:06Yeah.

Enzo Ottens

18:08>> Somewhere close to 10%.

Nathan Latka

18:10Yep. So have you guys stayed relatively sort of efficient in terms of bootstrapping, or do you guys just sort of go raise a bunch right out of the gate?

Enzo Ottens

18:18>> No. We stayed quite efficient. We've raised less than 1,000,000 so far. I mean, I'm originally from Holland. We're all very frugal over there. So

Funding, Team Size, and Cofounder Story

Nathan Latka

18:26That that's awesome. And what's the team size today? How many folks full time?

Enzo Ottens

18:29>> There's 10 of us at the moment.

Nathan Latka

18:3110. Very interesting. And what's your what's your focus? I mean, at some point, you're in I mean, you said you have between 1 and 10,000 folks already installed. I don't know how many total accounts there are in the world, but eventually, get all of them. And then and then it's sort of like, you either have to launch into a new market or focus on ARPU increases in that base, and that's how you're gonna drive growth. How do

18:49you think about that?

Enzo Ottens

18:52>> We're thinking more of initial geographic expansion. So we're just in The UK at the moment. We think The US is a really interesting market when it comes to accounting and tax, probably even way more complicated than it is here. And the fact that everybody has to do a tax return there, where here it's mainly still small businesses, is a very interesting opportunity. The other thing is that accounting kind of cuts through a lot of the different

19:17>> costs of a small business. We can see what kind of insurance you have, we can see what kind of loans you have, we can see what other services you use as part of managing your business. I think there is a really interesting play here in starting to increase the type of services you offer to a small business as part of that.

Nathan Latka

19:35Yeah. So just clear, to again, if account if you have a

19:37and when you told me

19:38a thousand to 10,000, that's users or paid paid folks that have converted to paid?

Enzo Ottens

19:43>> Those are users at the moment.

Nathan Latka

19:44User. Okay. Got it. That's obviously very different than how many have converted to paid. So

Geographic Expansion and Product Roadmap

Nathan Latka

19:50but but point being though, even in the free trial, they can connect their bank account to get value even before they start paying you. Right? So the way it works is if you

Enzo Ottens

19:59>> connect your bank account and get some value, but it doesn't really do anything. Like, it just gives you an overview of, okay. Great. These are these are transactions that I have in my bank accounts. That's not really necessarily the accounting elements of it.

Nathan Latka

20:10Okay. So so so for someone to really get value out of connecting a bank account to earnr, they also need to be paying you sort of 30, 40 bucks a month. Then then they really unlock some value.

Enzo Ottens

20:19>> Exactly. Exactly. Yeah. You can't do any tax returns. You can't do, like, the majority of the app that you are actually paying using.

Nathan Latka

20:26I see. And then most most apps that are sort of at this price point are very happy with, like, a three to 7% conversion rate from free to paid. Are are you sort of in that range, and are you happy with that range?

Free-to-Paid Conversion Rate

Enzo Ottens

20:37>> No. No. No. We're we're way higher than that. Okay. Like, I I think when it comes to like I said, acquisition costs in fintechs are so high, I think you need to have anywhere between twenty and fifty percent for this to be a sustainable business model.

Nathan Latka

20:52Yeah. Yeah. Yeah. Yeah. Okay. So it's fair to say you're sort of somewhere between 20-50%.

Enzo Ottens

20:56>> Yeah. Yeah. Yeah. Exactly. Yeah.

Nathan Latka

20:57Yeah. So we could say you have something between, like, 500 and 5,000 paid accounts on the platform today.

Enzo Ottens

21:03>> Yeah.

Nathan Latka

21:04Yeah. Okay. You obviously are sitting on a data gold mine with bank accounts connected. Right? So if an accountant connects their bank to you, you can see everything they spend money on, every every way they make money. How are you using that data to invent new products for accountants or think about your product roadmap for accountants?

Enzo Ottens

21:20>> The way that we're looking at it is is kinda twofold. So one is what kind of things the unpersonal accountant use at the moment, and that actually has nothing to do with their payment data. It's literally what kind of reporting, some stuff like payroll, VAT, aka sales tax, income tax. In terms of what's more interesting in terms of the bank data is really understanding how these people earn income, what kind of expenses do they have, what

21:45>> kind of other products as a small business are they paying for? And how could we potentially in the future help them optimize for that?

Nathan Latka

21:53Yep. Yep. That makes sense. And then, I guess, before we wrap up here, what's your team look like today? How many folks are full time? You sorry. You said 10. You already said 10. How how many of those folks are engineers?

Enzo Ottens

22:04>> Four? Five?

Nathan Latka

22:05Okay. Four. Five.

Enzo Ottens

22:06>> Three. Three heavy engineering.

Nathan Latka

22:08Very cool. Alright. Very good stuff. Anything else you wanna add before we wrap up?

Enzo Ottens

22:13>> Thank you for taking the time for grilling me.

22:16Yeah. Yeah. No.

22:16>> Appreciate it.

Nathan Latka

22:17I mean, look, Congrats on what you've built. I mean, from my math on the low end, if you've got at least 500 paid accounts at $35 a month, you guys are past 20 k a month in MRR at this point for which means for this kind I mean, and for this kind of app, that's pretty impressive. On the high end, if you've got 5,000 paid accounts at $35 a month, that's obviously even faster growth. I think

22:33that puts you at, like, a $150,000 a month in revenue. So so congrats on your growth.

Enzo Ottens

22:38>> Thank you. Appreciate it.

Nathan Latka

22:39Alright. Famous Five here. We're gonna wrap up. Number one, favorite book?

Enzo Ottens

22:44>> Shoe Dog.

Nathan Latka

22:45And number two, is there a CEO you're following or studying?

Enzo Ottens

22:49>> I went to talk to Luis von Ahn yesterday, which I thought was great.

Nathan Latka

22:53CEO of which company?

Enzo Ottens

22:54>> Duolingo.

Famous Five Rapid Fire Questions

Nathan Latka

22:55Ah, very good. Number three, what's your favorite online tool for building earnr?

Enzo Ottens

23:03>> PostHog. That's great.

Nathan Latka

23:04Are you saying hog, h o g, or hawk like a bird?

Enzo Ottens

23:08>> Hog, h o g.

Nathan Latka

23:09H o g. Okay. Number four, how many hours of sleep do you get every night?

Enzo Ottens

23:13>> Seven.

Nathan Latka

23:14And situation, married, single, kids?

Enzo Ottens

23:18>> I have a partner.

Nathan Latka

23:19Okay. Any kids?

Enzo Ottens

23:20>> No kids yet.

Nathan Latka

23:21No kids yet. Alright. And how old are you?

Enzo Ottens

23:24>> I'm 31.

Nathan Latka

23:2531.

23:26Last question. Something you wish you knew when you were 20.

Closing Remarks and Wrap-Up

Enzo Ottens

23:31>> It's okay to take a risk.

Nathan Latka

23:34Guys, there you have it. I mean, it's cofounder Ottens at Earnr. They're building a tool called earnr, which is helping accountants serve SMBs faster. They've got between 1,000 and 10,000 registrations, and they convert 20 to 50% of registrations to paid customers at $35 a month. So north of $20,000 in revenue today. They just launched last year, so healthy growth. They've only raised what the accelerator or sorry. Under a million bucks. Right? So pretty capital efficient. Team of 10

23:55today with five engineers as they look to continue to scale.

24:00One more thing before you go. We have a brand new show every Thursday at 1PM central. It's called Shark Tank for SaaS. We call it deal or bust. One founder comes on, three hungry buyers, they try and do a deal live and the founder shares back end dashboards, their expenses, their revenue, ARPU, CAC, LTV, you name it, they share it and the buyers try and make a deal live. It is fun to watch every Thursday one

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25:07what people are saying. Sign up for that at nathanlatka.com/slack. In the meantime, I'm hanging out with you here on YouTube. I'll be in the comments for the next thirty minutes. Feel free to let me know what you thought about this episode. If you enjoyed it, click the thumbs up. We get a lot of haters that are mad at how aggressive I am on these shows, I do it so that we can all learn. We have to

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