Revido Revenue (2024)

hey folks my guest today is Roderick noska he's a product manager and designer who discovered no Code and low code as a way to build a startup without needing a co-founder now he's co-running a low code product Studio that's helped launch dozens of successful Tech startups rodrigrette tickets to the top yeah let's go all right name a couple of tech companies you've helped launch that's a good question uh one of the most exciting ones is swap Commerce they are taking try to take over the exchanges e-commerce exchanges and swaps Market in Europe at the moment um and let me think of another we've got radar we think mangtas um you've launched a bunch of these companies uh we helped London so yeah we didn't do them all in ourselves we mainly be the product side at least for the entities uh radar essay is a pretty exciting product as well well so let's talk let's talk about swap right they're a software company that make returns an opportunity for growth at e-commerce stores so how would they engage you right are you building the initial MVP for them and they're paying you a flat fee foreign so basically when usually when someone approaches us they're usually people who are Professionals in a specific field and they usually have an idea an experience of a pain point that needs uh you know a status that is very Niche or just one type of Industry so we had a couple of clients who had consulted a bunch of very large e-commerce Brands and a lot of you know the work that they did came to the conclusion that there is atomic Revenue that's missed on when Brands don't have the best the best processes in place for exchanges and returns because someone might Roderick sorry I don't I don't mean to cut you off I totally understand I just want to understand for my audience they might be thinking I'm a business person I want to launch a SAS MVP using no code tools where do I start and they might hire you but I want you to tell them how they would pay you do you get paid in equity is it a flat fee how do you work uh it depends we do accept Equity as well mostly uh and not really a a philosophy for the whole project it's a flat paper spring and you know startups uh after doing a Sprint priorities may change the robot might change so it is variable based on that so what is give me an example what would it cost me to pay you to operate do one of our sprints uh it would be about six to seven cable Sprint okay and how long does a Sprint last on average a couple of weeks and how do you staff that Sprint do you have a bunch of Engineers you work with and you put them all on or is it just you uh so depending on the Sprint if it's the discovery Sprint you'll usually be working with a VM and a designer and then the subsequent Sprints uh assuming the design was done and it was not something to complex you'll be working with a PM and a development okay and so how many PMs and designers and developers do you have on their video team uh at the moment we are 2pms new designers and three Developers okay and are you which one are you uh I doubled between piano and design okay okay very cool and and was this your business this was your idea you launched it this year uh I launched it myself initially got the late co-founder to join in uh very early on so we are two co-founders at the moment and when did you watch uh revito was called upgraded back at the time we started at the end of 2020. 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 evaluations 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 okay so end of 2020 so you've been operating for about a year and a half at this point something like that okay and in 2020 how many Sprints did you guys work on I have no idea what about 2021 I can tell you the number of projects approximately yeah let's do that yeah so probably around 20 projects give or take 20 projects and on average how many Sprints does a project take uh probably eight Springs usually the first field will be anywhere from four to five but people you know if the product is successful they don't want to iterate so someone listening right now if it's gonna take four to five Sprints to get the initial sort of SAS product launch at six to K 7K per Sprint we could take 7K times five weeks or about 35 000 bucks get an MVP live is that right yes sometimes people just want to follow them and let's give it down into Sprints even um they want to put up a landing page you said no sometimes people might just want to prototype um go to an investor and that's that's something that you usually cannot launch you know we both have payments or anything like that but we've also had those people that want to do that show it to someone who might be potential customers and then decide if they actually want to invest more for like perfecting it and getting all the pictures in for like two or three months friends and how many customers will you work with this year it's a good question so the the trend that so we we started to work with less customers but bigger customers and we we kind of like that more as you know we were able to focus more on them and this year we actually started trying to launch our own internal products we tried that with three of them and one of them is speaking of Base which one's that uh it's called it's can you spell it yep I can actually send it here yeah that'd be great t-r-i-b-u-t-o and what does it do so is a mix is a productive service I'd say so it's not really a SAS per se but we have built a platform what's the website is it dot IO yep AI assisted copywriting so this is like Jeeves copy.ai that kind of space it's using those tools and many more especially aimed at producing content that can help you rank in SEO productizing the whole process basically making it feel like a SAS where you go in create an account with your plan uh submit whatever you want to get and then automatically you know you'll have some decide to get the content that they produce have an interface or you can add feedback and everything like that so I understood Roderick I want to talk more about uh tributo but first back to your agency so how many customers again will you work with this year man that's a good question I should have made the the calculations so far we've been very I mean what's the rank what's like what's your this is not a complicated question like 5 10 20 100 . so we're working with six right now uh right now yeah we will have you know the average length of working someone will be like three months um I'd say probably it'll be maybe 30 by the end of the year if we get small projects if we get big projects might be might save money well so if you work with 30 customers and they pay on average thirty five thousand dollars right so four or five Sprints right that that would put you right around a million dollars of Revenue this year is that about right let's talk about right yeah maybe it'll do more you'll do more than a million in Revenue this year I don't think it would be more than a million probably around man okay 800. probably 900 900. that's still great the the numbers I'm giving you uh I definitely need to look at them it's a customer that's on top of my head right now oh yeah but coming come on you're a Founder this is dollars Revenue cash and bank it's the only I mean this is what keeps you alive all right so it's somewhere between 800 000 and a million bucks in Revenue this year is fair right yeah okay so this is great so I love this story so you have an agency it's doing well you're sort of a product Studio but then you're saying yeah we built our own tool and then you said quote it's starting to take off what does takeoff mean for tributo is that a revenue figure uh yeah basically it's a revenue figure we've had so without doing a proper launch this is actually the first time I'm talking in public about it uh we've only mentioned the two the people in our Network that we know who are startups and made content help and we already have five large clients a large clients I mean you know people who need like 40 articles per month which it's at the very beginning but what do you charge for someone that uses tribute 2 for 40 articles a month 1200 a month 1200 yeah so we can take 1200 times five customers you're doing about six thousand dollars a month right now on revenue on tributo no because uh a few of them we're doing it for three minutes and I do have you know intention from them to pay afterwards is anyone paying already yep how many of the five are paying okay so 2400 bucks a month in Revenue that's still that's still nice yeah it's a it's a much better progression than what we haven't heard you know yeah so are you going to shut down the product studio and go all in on tributo uh definitely uh one of our most talented people here is actually focusing fully on that uh and you know having all the talent within the studio is really helpful to spin up your Solutions new Integrations or anything that can make it that can help tributor to be more efficient it's great now now you've bootstrapped both the rivet and tributo right yeah that's awesome that's all any plans to raise or you want to stay bootstrapped uh problem we do like do not have any external pressure and uh you know have the freedom to do what we think are is the best thing that's awesome and you mentioned two PMS two designers three developers so you've got seven people total on the team today yep okay seven very cool are you hiring or no you're good at seven uh we're actually on boarding someone uh right now and uh we want to focus on making our processes even better before hiring again so probably not in the next month or so cool wait we're rooting for you man in the meantime though let's wrap up here with the famous uh five number one what's your favorite Business book um number two is their CEO you're following or studying so that's a great question this would be a great fan of Steve Jobs when I was very very young number three what's your favorite online tool for building uh rivet or tributo foreign a bottle no bubble bubble bubble yeah uh good no code platform um number four how many hours to sleep do you get every night sir how many hours of sleep with okay and situation married single kids single okay and how old are you 24 24. last question something you wish you knew when you were 20. man uh started earlier guys all right let's start earlier he launched his product Studio ribido dot IO uh last event 2020. he'll do between 800 000 and a million bucks in Revenue there this year across 30 customers he charges four to seven thousand dollars or four to five thousand dollars per Sprint he manages he's got a team of seven or eight folks right now but they built their own internal tool called tributo which already has 2000 bucks a month in Revenue that's sort of in the Jarvis and Ai and copywriting space five customers using it today doing 40 articles on average per month they're going to lean into that keep growing and see what happens next totally bootstrapped Roderick thanks for taking us to the top thank you one more thing before you go we have a brand new show every Thursday at 1pm Central it's called Shark Tank for SAS 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 our poo CAC LTV you name it they share it and the buyers try and make a deal live it is fun to watch 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