How Salesprocess CEO Nick Kozmin grew Salesprocess to $11.1M revenue and 1.2K customers in 2023.

hello everyone my guest today is darren ong he's a passion executive director and co-investor for high growth sas and private equity and the private debt sort of ecosystems he invested in food fintech and sales process dot io early on darren you ready to take the top yep okay so so tell us about sales process dot io what does the company do and why did you invest sure so uh sales process is basically in three uh keywords is growth consulting programs so uh what we do is we've actually had about 1200 plus client successes in really clearing the product market fit the client mindset as well to grow their business at the maximum like per day you know tweakings for sales and marketing and legion outbound prospecting and so far so the consulting program yeah grows their business der sorry let's try and be specific here so you've worked with a bunch of different sas companies time hero is one of them explain to me what you guys did for time hero so so time hero uh we actually looked at the initial um product and platform and what it was is we found that the team were still not you know getting the right product market fit so the ideal customer profile that they had was really you know targeting a certain sector of of niche and that's where you know the consulting helped them to identify niche and made even pricing adjustments to their packages that you know resonated with the actual sector that they were very uh compelling for and you know that really ramped up the sale sales and that you know spearheaded them also going for our program where it's a remote sales install where we actually do hiring vsls and video sales letters to you know high candidates to become their remote sales so just be clear for time here time hero paid you to do pricing work product market fit work and they also hired you to basically for you to hire sales people on your payroll to sell time heroes product is that accurate not really uh the remote sales is going to be uh time heroes sales uh remote you know in terms of their team but uh you know everything they do we we do a coaching as a service so you know ramping the the sales wrap up you know through the whole year-long execution program so what does it cost typically what's the customer paying you per month per year so our gold packages come at 15 80 15 800 per year and it for platinum it's at 21 800 per year and uh for our diamond package which where it's one on one with nick cosman it's at 55 000 u.s per year and who is nick cosman next uh basically a dot-to-dog you know uh in fact he started off you know with the sales evolution that has you know come to at this stage where he started dollar dollar sales and he actually scientifically worked out the foundational copyright um and he patented it trademarked it then you know that uh had a slew of you know other um scientific uh methodologies like product market fit yeah just to be clear nick is not a scientist when you use scientific that's you kind of putting marketing driven he's not a scientist but he he's a great copywriter and he's an experience he's engineering he's an engineering graduate yeah and he built a system for his process yeah how did you find him what year did you meet um so about three years ago i was like really looking at how to you know uh spruce up my own uh sas uh software what was the software called uh so it was called uh in fact was the first uh version of fluid fintech it was called good mobile g-i-r-t grit mobile okay so you met him you paid him in 2017 to do work for you yeah yeah and and it really you know from 800 000 u.s it just ramped up for the whole year up to 5 million u.s so what happened to grit mobile what was it today now it's uh it's fluid fintech so good mobile is now you know renamed rebranded to fluid fintech and what's it do so uh we have distributed ledger technology fintech uh it also covers uh even payment remittance solutions so um the whole commute of uh you know remittance uh we actually do for businesses credit unions financial institutions it's been doing really well uh so now about 300 000 users on the platform so is it b2c or b to b a b to c i got it so you have 300 000 consumers you have 300 000 consumers using you how does influence fintech make money so we it's uh based on the transactions that uh you know the 300 000 uh we have some that are very basic and then obviously intermediate and then advanced transactions so they pay you know different sort of transaction fees for different programs that we have for fluid fintech so when you say grit mobile hit 5 million in revenue back in 2017 that means you processed 5 million in transactions through your platform yeah okay and you were taking about what percent one or two percent uh actually we had at seven percent okay got it so you're taking seven percent got and so obviously nick comes in he does work in 2017 2018 it's now fluid fintech today and obviously so we can understand the impact of nick's work help us understand in 2020 or in 2019 how much transaction volume went through fluid fintech so it's now uh looking at touching 18 million are you guys still taking seven percent uh at the moment it's more like you know prorated sort of about six percent okay why do you look like you're thinking deeply about something was that a confusing question it was no it was like you know 6.3 but it's it's going to it's six six percent okay so 18 million flowing through the platform last year and you taking about 6.3 percent means on a gross revenue basis the company did about 1.1 million in gross revenue before expenses is that accurate yep and are you still involved with the company yeah yeah i'm a director i'm actually expanding uh for the asia pacific and middle east yep interesting okay got it so so what would you say nick helped you do to grow from 5 million in total transaction volume in 2017 to 18 million in 2019 yeah okay great uh question so in terms of the website the landing page the branding um what you know the foundational copyright for our solutions for fluid fintech was harnessed and re-emphasized to you know the target audience which were the b2c users so that was the first second was you know our packaging in terms of the services you know basic intermediate advanced then also use cases case studies a lot of you know work went into driving the outbound prospecting ad traffic uh so darren sorry the website the website gets like no traffic i mean i'm in the reports right now for ahrefs and semrush you don't even register on alexa traffic rank as a top site not even in the hundreds of millions there's there's only two sites linking into the site there's very little design i don't even see pricing plans that you just described why don't i see any of that are you are you at f-l-u-i-d-f-i-n-t-e-c dot com yeah sometimes it's yeah okay i mean i'm looking at the reports right now there's no traffic i mean so when you say he drives you traffic via ads and built your inbound engine well there's nothing here to show for it there's no traffic yeah so so we we actually have 23 credit unions if you if you have a look at the copper website we market through these uh you know credit union so they are like mini banks so you know the ad traffic is coming from them so the the users as well are coming from these 23 credit unions so this is bar credit union limited tubercarian district credit limited uh st jar lofts credit union etc exactly okay interesting so back to nick you decided to invest in sales process how much did you invest in why'd you do it so i've invested uh almost about 30 000 usd altogether um and you know just just for a mini uh you know shareholding uh in in the you know their common chairs so so how much equity do you own one point 1.2 percent okay got it and how did you i mean obviously you know you have to value the company when you make a thirty thousand dollar investment you're valuing the company you know what is that somewhere around yeah two point eight million your va is the value right if you own one point something percent for 30k yeah yeah so that was back then right now it's you know really spruced up it's touching maybe about 800 000 us a month mrr so you know basically you know it's spruced up quite what was it quite a lot what was it doing back in 2017. what was it doing back in 2017 2017 was uh uh really was only doing about 150 000 uh mrr so yeah it's been the last few years has been you know fantastic because of uh the power of remote selling and kovit has even made remote selling a must now for clients so what was total revenue in 2019 2019 total ar total revenue total revenue uh touched about not touch total revenue you're fine you're filing a tax return you put this number yeah 16 million one six million yep and what do you guys think it'll do in 2020 uh going by the 800 000 it's gonna touch easily easily about 20 20 okay you said in 2019 it was doing 800 000 a month in revenue on average yeah yeah so it's it's already uh passed a million uh in terms of month recurring monthly recurring revenue um the last few months so the last few months has been you know probably month on month been growing about i'd say 15 how did you do 16 million in total revenue in 2019 if the average monthly recurring revenue is 800 000 per month that would be about a 9.6 million dollars in revenue not 16 million where'd the extra 6 million 7...