How Leadiro CEO Ian Cullen grew to $600K revenue and 20 customers in 2016.

this is the top where I interview entrepreneurs to our number one or number two in their industry in terms of revenue or customer base you'll learn how much revenue they're making what their marketing funnel looks like and how many customers they have i'm now at twenty thousand dollars per top five in six million he's happened on global domination we just blow for a hundred thousand units ol mark and i'm your host nathan lapka okay Tom tried this week's winner of the hundred bucks is repped Guillen's he is a restaurant industry he's in the restaurant industry and he feels stuck he wants to start his own software business so congratulations red for your has a sham to an 100 bucks every monday morning simply subscribe to the podcast on itunes now in order to enter and then text the word Nathan two three three four four four to prove that you subscribed guys if you want an easy tool to use to book your meetings back to back to match your calls to make sure people actually show up on a schedule you want to use acuity scheduling it's what I use for my podcast interviews Nathan lakha calm /schedule I'll tell you more about how I use it later on in the episode [Music] Nathan like to hear and this episode 509 coming up tomorrow morning your learn from Yousaf West Yosef found the hub doc and it just hit 132 granted monthly recurring revenue they raised two million bucks they're helping to open her customers manage accountants and manage their documents top strive good morning Nathan Alaska here our guest today is Ian colony is a demand generation expert and currently the co-founder of lead ero an account eccentric data platform designed an able account based marketing and SAT sales development efforts at named accounts David see was a co-founder internal results which which was acquired by Madison logic in may 2016 a leader and accounts based management he saw his first business target to 15 2001 and built that company to team of 103 staff and established the company is a leading b2b technology-based lead generation company he's so bad company in 2010 Ian quite a story are you ready to take us to the top it was it awesome okay let's go back first to target 250 you launched in 2001 sold in 2010 would you sell it for oh yeah good answer how was it how was I al you'd was it was that ass ass business what was the valuation like oh oh yeah I received uh Lucy's unison from adventures lists and VN canceled how much they hurt our family it Dalton so after basket funds sounded finally sold during our channel to the bench cassis was it a good returner was a soft landing planning yeah yep I wish people would chat about this stuff great yes was it like a hey we just want our customers to find a good home and so we're I'm pleased to get jobs let's just sell this is that kind of thinking yeah yeah yeah okay very good you go from you go for target 250 what happens after 2010 so did what you normally be and then a very similar businesses internal results and then to confirm their to build into the team about 60 people I saw that in May sheer to manage your risk a pool or no oh okay got it so that was like you're like I don't want to raise capital again I went I don't want any liquid is your preferences i want all the money when I sell it is to give a co-founder it says enjoy this one um anyway is he your co-founder today at ladera yes so very cool okay so tell us tell us what we do doesn't how you make money so it's a fairly new start with just over four months old we're a b2b days resistors powerful which is maybe focused about around account-based marketing so you can currently search around 30 million be to DHS in the platform and download a statistic audience okay give us an example like the last customer that paid you well on to the essence of the software vendors lots of revenues or publishes so they will sign out to around name one name one um I mean a lot of the more I want a system of us telling us into 500 okay so they miss their little asses just and volume on tests and work and what I do with that why do they pay you they'll don't download that Williams to run physically CDL programs which is you know they're doing outbound sending out weapons on behalf energy companies looking for those individuals to clear the downloads and then they'll passes then delete what are the laws around nap so like if you get somebody's email especially in mass we're coming like Lady row can a company like selling simplified actually email 100 people kind of cold or their rules around kind of email marketing there so I mean that's up to them and the adjacent process know the rules I don't know what they are what are those roles do you know uh different in each country but as long as it's not as long as it's relevant you can you can send an asst specifically you've got to send that on to an individual de resolver works and I security console something this heavy I see interesting okay and how do you make money how does selling some of my pay you is it cost per lead or SAS or what it's actually there somebody most customers test on a monthly or quarterly basis okay yeah the annual glance people sign up to miss Hamilton it's the ancestors and bullying the rebels of I see okay and what is the average customer pay you per month so average I mean Isis range from between twenty twenty thousand dollars up with some of the some of them were safe learning corridor per year yay hey per month okay 20 guy sociopaths which range between 20 and 40 thousand a year okay so absolutely sure and we lost you if you're still there we can't hear you this is endless okay got it so they're paying six to ten grand sorry per month we will you dropped out there said again yes doesn't love anyone is only okay but wait you did okay okay wait you did you just the annual plans worked like 20 grams they had they saw the Sun see that they can go much bigger than 40 oh I see okay so you're all you think your average is somewhere between to 6,000 a gram per month yeah so Isis on our website sometimes I wish is message to the deities of data and what year or month ago said you know this okay so July 2016 and how many customers are you serving now just so this funny okay 20 and walk us through how are you finding those folks this isn't any mall singlet anymore I really am reaching to them so to the whole cumin what's that sound like when your argues that our calls and an email and episode what's the email or call sound like so this people that we know within the industry or [Music] background is working software selves and lead generation so they met and people who were within the past and that amuse just company okay so I listen let's say I'm the guy at Sony that you're selling to what what is his role as Sony like like CMO or what mossy they could become a manages the living audience development for specific honest and the launch justices air products that they want to be shut astern to enroll with me you're calling me right now I just picked oh I'm the guy its Tony what's that call sound like Oh mystery agency if we're looking to we also pushes it into standard a switch to do they want us you know you'll be more in touch and I think we look and see this process is most of our case we ask us and how they gain I wonder to markets they need help in reaching out yes sir than their infest days there are a lot of companies kind of in this space what do you say why are people buying your data versus others yeah why there's also companies in this Isis and Assad tree it's very easy to use with mitre about the platform so which really driven out tomorrow marks a new generation that you can you can the bus were these days account-based marketing account makes everything you can you you can download a list of domains within 10 seconds and pull our sizzle use in there's a chance you can unlearn the email addresses yeah see if you made you may have 200 companies you want to target you load that into our platform and within seconds you get everyone anything works in that company you can then filter down by job high school by Tobler module function you can put exclusions in in terms of I don't want to target these specific email addresses within 30 channels so you really get a new contest what what tell me about what you just described which piece of that is the proprietary do you feel like well I mean you know I thought I get on this space is it is it it's might not on the space this is not like a Warren Buffett like where P says he wants moat around company I've talked to so many people in a space it all sounds like the same damn thing to me and that people are gonna win are gonna be there are better marketers yeah this an additional features that we're going to be included in the nest once where we'll be looking you know you can search for specific products as part of your filter and you can say I want to target these are for companies have these software for us and and these if these fenders and these products these are this is kind of an exhibitor II do you know those guys no you have to check them out they may help inform some ideas you have around that that's exactly what they do but they don't do all your lead stuff so that way is a budget taste as well you know that's why I just told you they don't do any of the lead stuff they just tell you hey will type in a company like magento and will spit out all the other companies that are using magento I your Magento competitor that's viable information they don't do the least of the like you do I so it is yeah that's great that's great um so you launch this he said about four months ago would you last month monthly recurring revenue thousands okay 50,000 and I assume some of those were probably longer contract you're just dividing it you know by 12 yes perfect great and fell Thunder be raised capital so funded okay well you think you'll raise yep you know you've been through that fire yeah it's what's the team sighs Carly so see people 30 30 full-time other the awesome um the developers building this is that you or your tech open or have you hire people are they the full time are these like freelancers okay got it how did you find him I got a remote are they in your town new students and that was true one of the other co-founders you didn't from working in a suspension Oh interesting very cool are you guys all Baker obviously online New Zealand are you with it 303 I wanted on in Sudanese eases got it very cool what is the I mean you only have to I mean I say only but it's going to something to enterprise but you have 20 customers do you have some good kind of metrics yet on kind of lifetime value or what you're willing to spend to acquire new customer so she go I mean let me know a new analysis we said only cost is around Sony's and got it on the annual plan yeah and what is the Y guess you already said kind of annual plans will range between maybe 60 and kind of a hundred grand right so no 20,000 told us you tell me earlier that your average ARPU per month was between 6 and 10 grand so i'm multiplying those by kaya yeah yeah yeah I mean is that accurate is some deal is also is constant once you know a system is a member who just want to do okay I guess actually comes to math 50 grand in mr / 20 customers means they're paying on average 2,500 bucks a month okay yeah it's a weird nice one so yeah that's just the way that it's just an easy weighted average to make it make it easier to chat about so 21 bucks and ARPU has anyone cancel or ask your refund any cancellations yet why what is what is it is an early early stage funny Oh see you know it's a learning learning specialist do the I ways and every company I've talked dude that's gonna be in your space in and they struggle with one big thing and that is people come in for a day abuse the hell out of the system yeah dammit everything they need then leave how do you say how do you prevent that easy to sleep I mean we gotta see sense out of the TV yeah yeah I mean it'sit's interesting like a lot I always question a lot of these companies I'm like are they actually SATs companies right or would they do better as just a one-time fee to come in and download all the data and leave each other yes look your budget without her I think that you can using the Whisperer others ones they say what the oceans is very awesome any one or two months and that's what the leaking today yeah yeah yeah that makes sense last question here before we jump into the the wrap up wait what kind of what kind of companies in the space due respect there's obviously this is a very crowded space who do you think's doing it really well besides you guys uh selection to say um i would say what see these on undress me this is a customer of yours right yeah it's also cold or thanks doc home living around the walls eating so yeah there's no like see big ugly guys yeah he's out of it this is a new companies coming out my b2b signals of our scenery for here easily by engaging that we're in the dating the data vendor spiciness this company's on email hun server which I wouldn't necessarily do the same as what we do I think I think there are great great team of marketers over there but the data quality is not great Jason eyes and they don't do what we did with I mean rule arranging that's in the companies ranging see ya in size you got it got it very cool well hey where is as you build this business where is the best place for people to watch and connected you online amazing llamame exclusive use it on Twitter Linkedin publish because I get asked all the time Nathan you posts all these interviews hundreds of them per month how do you do them officially and guys the answer is simple people always agree to my calendar back-to-back meetings I batch my injuries to stay very efficient and the way that I do it is I use a tool called acuity scheduling at Nathan ladki calm /schedule and the reason I use them is very simple they keep my no-show rate very low because they send out reminders about women the interview where the meeting is coming up and also they make it very easy to schedule time right let's go back and forth the email 10,000 times with people I'm trying to meet with a and they collected calm /schedule helps me so much and by the way look I like have so many meetings I'm the best in meetings okay do them back-to-back very very efficient do you guys know me many people say the most efficient they've ever seen okay so i use a tool it's so efficient and by the way I got Gavin I said Gavin he's a CEO I said I want a great deal for my people he said Nathan well most people get a 14-day trial and then great i said no he's giving us a 45 day free trial at Nathan locker combo word /schedule that's not gonna stay up forever so go get it now Nathan black dot com /schedule alright top driver link to that Michonne up that Nathan Alaska com /the top 5 11 again /the top 5 11 alright een it's time for the famous five these are quick and quick questions and quick answers you ready yes number one what is your favorite business book I'm not just thinking baby big number two is their CEO that you're following are studying the moment number three is there a favorite online tool you have like top towel you / man the similar weather when used in my web form just searching on um and a chase us and how we can better get investors yes or no DD eight hours of sleep every night usually a and what's your current what's your situation you married single you have kids married boys so nice and how are you okay okay so last question take us back 20 years what he was your 20 year old self new well cause you go on and get anything happens overnight and they're seeing really so this is something that you can achieve anything op tribe dare you have a work hard stay persistent from ian has two successful exits now building lady raised about four months in with 20 customers paying about 50 grand and monthly recurring revenues got a team of six between UK Ireland and New Zealand as they jump into this data and business intelligence space IAM thank you for taking us to the top thank you if you enjoyed in today go back to listen a yosef yesterday yosef runs hub dog which just hit 132 grand and lofty recurring revenue they raised two million dollars and they have 1200 customers may help accountants manage their documents okay top tribe I'll see you bright and early tomorrow morning and don't forget before you listen to any other episodes subscribe on iTunes right now for your chance to win a hundred bucks every Monday [Music]