Gtex Revenue & Valuation (2024)

hello everyone my guest today is simone vincenzi he is known as the experts strategist he's the co-founder of a company called gtex and is a forbes and huffington post contributor tedx speaker and host of the podcast explode your expert business author of three life-changing books as well simone you ready to take us to the top i'm super ready thank you very good so we how did we learn about each other do you remember i think i was talking your podcast and i really liked it and i sent you an email and i say hey can i jump on the show and then we did an interview about eight months ago and then from there we kept in touch and uh got your book oh i got the book i got i got the book i got the book where did you where did you see it where'd you find it so i was in miami airport and we were having our wedding anniversary vacation with my wife and there you were in the in the list of recommended books so i love that must get the book i love that man well hey enjoy it enjoy it so let's jump into your business so first off i want to understand this do you have a sas component to your business any software component or no no we don't have any software component to the business we outsource the software components to the people that are great at that yeah so okay tell me what you guys do yeah so the work that we do is we run three companies we're on three organizations one is to work with the business owners to establish their brand their personal profile which is a journey from expert to authority then we run a sales training for recruitment agencies so we will go into recruitment agencies train their staff and then recently we acquired a we became partner in a recruitment agency that places uh ex-military that are really highly skilled in the technology field and place them in a really high paying roles within technology companies okay so that's so great breakdown just so we can focus this interview because it's only 10 minutes long take think about all the revenue you've made over the past 12 months what are the top two things you're selling yeah absolutely the top two things we are selling is the sales training to recruitment agencies that is one of the things that works really well and then the second one was the uh is the memberships that we offer to our members to teach them how to become authorities in their field so these are the two things that are generating the most amount of revenues okay so let's break those down real quick start with the memberships one so past 12 months about how much did that do about uh 400k on uh the 400 000 pounds we are we are on the other side of the pond so we'll call it 470 000 us dollars across how many members paid how many customers uh across about 200 customers okay and again they're signing up for this it's an info product they watch your videos and you teach them how to become an expert in their space uh there is not just an info product because i personally believe that if info products they rarely deliver the results that the customer want so we have a hybrid between info products and personalized support and they will pay a membership for that and we found that that's a really nice niche because it appeals to the people that they bought info products and they didn't get the results for it from it so we offered the extra component to be more customer-centric okay and then the other part of the business sales training recruitment agencies about how much did that do over the past 12 months under fifty thousand pound about a hundred seventy five thousand dollars something like that over the past year over the past year yeah okay and how many agencies did you serve how many customers so we served uh four agencies okay and we have one which is a a really high client so actually a hundred thousand came only from one client and then the other we are more adopt work where we will go in to do intervention for a week rather than on a period of time which is over a year okay so your memberships to teach people how to become experts that did 470 grand that is by far your number one revenue stream and then under that is your sales training to recruitment agencies yeah exactly because we launched that literally one year ago the sales training so in the first year immediately we added an extra under 50k which is uh which was a good addition to the revenues of the business and now we are looking to tripling it this year because we are hiring three more people uh that are going to be involved in increasing the revenues and are you so is it going to come from training more kind of sales teams or is it going to come from adding more members to your your membership site and your training uh it's both uh they go hand in hand because uh more salespeople will bring more members well yeah but selling someone up to a course that teaches them how to become an expert that sales team that sales motion is very different than a sales motion selling recruitment agencies on your sales platform absolutely so there are two different businesses that's what i'm asking right so who are which one are you more which one are you spending more money on to grow over the next 12 months the recruitment business there that's that's going to be the one where we are investing the most because we started more recently so we actually got some fundings to now hire these extra three people to bring the revenues up while growing organically more organically the other side of the business yeah what's team size today uh we got in total between contractors and full-time about 14 people okay and how much have you guys raised uh we actually haven't we have raised literally peanuts about forty thousand fifty thousand pound in the in the course of the business so we keep contr absolutely control of our finances and um uh we are we don't have a we don't have any other shareholder in the business in the organization in the company so we are in control of every single decision that we make we have four directors but it's just 50 50 between myself i'm a business partner and we are not looking for an external investment because we want to have that control over the company yeah and what does growth look like so in 2018 what was total revenue uh 2018 the total revenues were about 600k okay 600 and the year before that was about what uh 2017 was uh 250. 250. okay so so nice nice growth nice growth howdy and 215 and 2015 was uh was actually less than 100. yeah yeah so 2018 uh 600 2017 250 2016 less than 200 less than 100 less than 100 yeah okay very good and is the company profitable are you kind of reinvesting everything back in top line growth so we use the profit first method of accounting i don't know if you're familiar with that microsoft yeah exactly great book so we take the profit immediately and we create a buffer for the business uh with the profits that we're on so yes the company is profitable but we are invest everything else so we take 10 and that becomes our profit and everything else is invested in the growth of the company because that's what we are more focused on we want to grow rather than keep a lot of money yeah um talk to me at the books that you've done uh books take a lot of time they rarely make money do you make money on your books i make money on the back end not on the front end uh mainly use books when i talk to sam at seminars for example where people will buy my book and then they will buy the other products or other services because uh i'm not really focusing on selling volumes of books because you know it's a it's a lot of time and uh comparing like to make a substantial revenues you need to have to sell an incredible volumes of books and we use a book books as a entry point for people to get to know us become familiar with our methodologies like us and then uh get them to buy something else very very good all right let's wrap up here with the famous five speaking about books number one what is your favorite business book well we mentioned it before profit first number really loved it it is a good book number two is there a ceo you're following or studying uh elon musk recently number three what's your favorite online tool for building the company uh right now i'm in love with infusionsoft number uh that's a good one number four how many hours of sleep to get every night and seven to eight and what's your situation married single kids married happily married and no kids no kiddos yet how old are you i'm 30. all right last question what do you wish your 20 year old self knew um taking it easier like things will come anyway don't don't stress too much and actually the other part would be uh you don't have anything to prove guys take it easy you have nothing to prove did about 200 000 in revenue in 2017 up to 600 000 in 2018. uh now today hoping to grow that they do then they sell they're not sass but they sell a platform or sell a coaching plan to recruiting companies uh that teaches them basically how to be more effective specifically sales training to recruitment agencies and also they have a membership course with high-touch kind of hand-holding to help people succeed in turning themselves into experts in any niche 200 customers have signed up there for a total of 470 thousand dollars in revenue as simone looks to scale all right thank you sir for taking us to the top thanks man great to be back