Investor Interview
How SalesProcess Reached a $12M Run Rate with 1,200 Customers (Interview with Investor Darren Ong)
- Interview Date
- September 29, 2020
- Interviewee
- Darren OngInvestor in SalesProcess.io
Company Metrics at Interview Time
Revenue Run Rate (September 2020)
$12M
Customers (2020)
1,200
Profit Margin (September 2020, estimate)
Around 40%
Team Size (2020)
59
Annual Gross Churn (2020)
About 17%
Historical Snapshot
These numbers are investor Darren Ong's account in the interview recorded in September 2020. They are a historical snapshot, not current figures. See SalesProcess’s current numbers.
Key Takeaways
- 01SalesProcess was on a $12M annual run rate as of September 2020, having already passed $1M MRR in the preceding months.
- 02The company served 1,200 customers on annual consulting programs at an average contract value of about $21,000 per year.
- 03Annual gross churn was about 17%, and Darren described the clients as very sticky.
- 04The team totalled 59 people, of whom 12 were full-time (7 salaried salespeople and 5 engineers) and the rest were paid commission only.
- 05Commission-only salespeople earned 25% of the full contract value, split as 10% for discovery and 15% for closing when two reps worked a deal together.
- 06The Gold consulting package was priced at $15,800 per year, while the Diamond package with one-on-one access to Nick Kozmin was $55,000 per year.
- 07Darren Ong had invested about $30,000 altogether in SalesProcess (the host's recap dates it to 2017) and owned 1.2% of its common shares.
- 08The business was profitable at the time of the interview, with an estimated profit margin of around 40% for September 2020, though the month had not yet closed.
Company Metrics at Time of Interview
| Metric | Value | Source |
|---|---|---|
| Revenue Run Rate (September 2020) | $12M | Investor interview, Sep 2020 |
| Customers (2020) | 1,200 | Investor interview, Sep 2020 |
| Average Contract Value (2020) | About $21,000 per year | Investor interview, Sep 2020 |
| Gold Package Price (2020) | $15,800 per year | Investor interview, Sep 2020 |
| Profit Margin (September 2020, estimate) | Around 40% | Investor interview, Sep 2020 |
| Annual Gross Churn (2020) | About 17% | Investor interview, Sep 2020 |
| Team Size (2020) | 59 | Investor interview, Sep 2020 |
| Full-Time Employees (2020) | 12 | Investor interview, Sep 2020 |
| Salaried Salespeople (2020) | 7 | Investor interview, Sep 2020 |
| Engineers (2020) | 5 | Investor interview, Sep 2020 |
| Sales Commission (2020) | 25% of full contract value | Investor interview, Sep 2020 |
| Darren Ong Equity Stake | 1.2% | Investor interview, Sep 2020 |
| Darren Ong Investment (2017) | About $30,000 in total | Investor interview, Sep 2020 |
Growth Breakdown
Revenue
By Darren Ong's account, SalesProcess was already past $1M in monthly recurring revenue for the last few months before the interview in September 2020, a run rate of about $12M. A minute and a half earlier he had put it at "maybe about 800,000 US a month". He said the business had been doing only about $150,000 MRR in 2017, and credited the growth since then to remote selling, which COVID had made "a must now for clients".
Customers
Darren said 1,200 customers were actively paying at the time of the interview, at an average of about $21,000 a year across three consulting tiers. When Nathan pointed out that those numbers did not square with just over $1M a month in recurring revenue, Darren said "it might be that some of the 1,200 already paid up in full", and that perhaps half paid monthly. Annual churn was about 17%, and he called the clients "very sticky".
Team
The team totalled 59 people. Twelve were full-time: 7 salaried salespeople and 5 engineers. The rest were paid commission only, earning 25% of the full contract value on each deal they brought in; when two salespeople worked a deal, 10% went to discovery and 15% to closing.
Profitability
Darren said SalesProcess was definitely profitable. He put the profit margin for September 2020 at around 40%, an estimate because the month had not closed: "It's not being computed yet." He said Nick wanted a lot of profit optimization and was reinvesting in more mastermind events and seminars for the premium Diamond package.
Growth Strategy
Commission-Only Sales Force
The majority of SalesProcess's salespeople were commission-only contractors, paid 25% of the full annual contract value only when they closed a deal. This structure kept fixed costs low while allowing the company to scale its sales capacity without adding to its salaried headcount.
Annual Consulting Programs with High Stickiness
SalesProcess's engagements typically ran for a whole year, paid in three instalments or spread monthly, while its remote sales program was a monthly program. Darren called the clients very sticky and put annual churn at about 17%. The programs covered sales, marketing, lead generation and outbound prospecting.
Tiered Pricing Across Client Segments
The company offered three pricing tiers to address different client budgets and needs: a Gold package at $15,800 per year, a Platinum package at $21,800 per year, and a Diamond package at $55,000 per year that included one-on-one access to founder Nick Kozmin. This allowed SalesProcess to serve both growth-stage companies and larger enterprise clients.
Remote Selling and COVID Tailwinds
Darren Ong credited the rise of remote selling as a major growth driver, noting that COVID-19 had made remote sales a necessity for many clients. SalesProcess offered a remote sales installation program that helped clients hire and ramp their own remote sales teams, which became a key part of the product offering.
Product Market Fit and Niche Identification Consulting
A core part of the SalesProcess methodology involved helping clients identify their ideal customer profile and adjust their pricing and positioning to match a specific niche. The TimeHero engagement was cited as an example where this approach directly accelerated the client's sales growth.
Best Quotes
“SalesProcess is basically in three key words is growth consulting programs. So what we do is we've actually had about 1,200 plus client successes in really clearing the product market fit.”
“So our gold packages come at 15,800 per year. And for platinum, it's at 21,800 per year. And for our diamond package, which where it's one on one with Nick Kozmin, it's at 55,000 US per year.”
“It's already past million in terms of month recurring, monthly recurring revenue the last few months. So last few months have been, probably month on month been growing about, I'd say 15%.”
“Sales, if you just look at salary, it's seven.”
“Then the rest are all commission only.”
“For the full TCV, 21,000”
“The churn? The churn is about 17%.”
“Consulting, yeah.”
What Happened Next
At the time of this interview in September 2020, SalesProcess was a growth consulting business led by Nick Kozmin, with 1,200 paying customers and, by investor Darren Ong's account, more than $1M in monthly recurring revenue, a $12M run rate. Darren owned 1.2% of the common shares. He said Nick wanted a lot of profit optimization and was reinvesting in more mastermind events and seminars for the premium Diamond package. Visit the SalesProcess company profile on GetLatka for the full data record from this recording.
View SalesProcess’s current profile and metricsFull Transcript
Chapters
- 0:00Introduction and Overview of SalesProcess
- 0:22What SalesProcess Does and Client Successes
- 1:07TimeHero Case Study
- 3:06Pricing Tiers: Gold, Platinum and Diamond Packages
- 3:33Nick Kozmin's Background and Role
- 10:06Darren's Investment in SalesProcess and Equity Stake
- 11:06Revenue Run Rate and MRR Growth
- 14:52Team Size, Engineers and Sales Structure
- 15:45Commission Structure for Salespeople
- 16:18Customer Retention and Annual Churn
- 17:47Profitability and Profit Margin
- 21:41Consulting vs. SaaS Business Model
- 22:12Famous Five Rapid-Fire Questions
Introduction and Overview of SalesProcess
Nathan Latka
00:00Hello, everyone. My guest today is Darren Ong. He's a passionate executive director and co investor for high growth SaaS and private equity and the private debt sort of ecosystems. He invested in food, fintech, and salesprocess.io early on. Darren, you ready to take us to the top? Yep. Okay, so tell us about SalesProcess. What does the company do and why did you invest?
What SalesProcess Does and Client Successes
Darren Ong
00:22Sure. So SalesProcess is basically in three key words is growth consulting programs. So what we do is we've actually had about 1,200 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 lead gen, outbound prospecting and so forth. So the consulting program, yeah, grows their business.
TimeHero Case Study
Nathan Latka
01:07Darren, sorry, let's try and be specific here. So you've worked with a bunch of different SaaS companies. TimeHero is one of them. Explain to me what you guys did for TimeHero.
Darren Ong
01:17So so TimeHero, we actually looked at the initial
01:24product and platform, and what it was is we found that the team were still not getting the right product market fit. So the ideal customer profile that they had was really targeting a certain sector of niche, and that's where the consulting helped them to identify niche and made even pricing adjustments to their packages that resonated with the actual sector that they were very compelling for. And that really ramped up the sales, and that spearheaded them also
02:10going for our program where it's a remote sales install where we actually do hiring VSLs and video sales letters to hire candidates to become their remote sales.
Nathan Latka
02:26So Darren, just to clear for TimeHero, TimeHero paid you to do pricing work, product market fit work, and then they also hired you to basically, for you to hire salespeople on your payroll to sell TimeHero's product. Is that accurate?
Darren Ong
02:39Not really. The remote sales is going to be TimeHero's sales remote in their
Nathan Latka
02:48Their team.
Darren Ong
02:50But, you know, everything they do, we do a coaching as a service. So, you know, ramping the sales wrap up, you know, through the whole year long execution program.
Nathan Latka
03:02So what does it cost typically? What's the customer paying you per month or per year?
Pricing Tiers: Gold, Platinum and Diamond Packages
Darren Ong
03:06So our gold packages come at 15,800 per year. And for platinum, it's at 21,800 per year. And for our diamond package, which where it's one on one with Nick Kozmin, it's at 55,000 US per year.
Nathan Latka
03:29Okay. And and who is Nick Kozmin?
Nick Kozmin's Background and Role
Darren Ong
03:33Nick's basically a door to door. In fact, he started off with the sales evolution that has come to at this stage, where he started door to door sales, and he actually scientifically worked out the foundational copyright. And he patented it, trademarked it, then that had a slew of, you know, other scientific methodologies like product market fit.
Nathan Latka
04:10Yeah. Darren, just to be clear, Nick Nick Nick is not a scientist. When you use scientific, that's you kind of putting marketing jargon. He's not a scientist. But he's a great copywriter and he's He's engineering. He's engineering.
Darren Ong
04:20He's an engineering graduate.
Nathan Latka
04:21Yeah. He built the system for this Yeah.
04:26How did you find him? What year did you meet?
Darren Ong
04:30So about three years ago, I was like really looking at how to spruce up my own SaaS software.
Nathan Latka
04:41What was the software called?
Darren Ong
04:44So it was called... In fact, it was the first version of Fluid Fintech. It was called Girt Mobile, G I R T. Yep.
Nathan Latka
04:54Girt Mobile. Okay. So you met him, you paid him in 2017 to do work for you?
Darren Ong
04:59Yeah, yeah. And it really, from 800,000 US, it just ramped up for the whole year up to 5,000,000 US.
Nathan Latka
05:08So what happened to Girt Mobile? What's it today?
Darren Ong
05:12Now it's fluid FinTech. So Girt Mobile is now, you know, renamed, rebranded to Fluid Fintech. And what's it do? So we have distributed ledger technology, Fintech. It also covers even payment remittance solutions. So the whole gamut of remittance, we actually do for businesses, credit unions, financial institutions. It's been doing really well. So now about 300,000 users on the platform.
Nathan Latka
05:50So is it B2C or B2B?
Darren Ong
05:54B2C.
Nathan Latka
05:55I got it. So you have
05:58300,000 consumers using. How does Fluid Fintech make money?
Darren Ong
06:04So it's based on the transactions the 300,000, we have some that are very basic and then obviously intermediate and then advanced transactions. So they pay different sort of transaction fees for different programs that we have for Fluid Fintech.
Nathan Latka
06:26So when you say Girt Mobile hit 5,000,000 in revenue back in 2017, that means you processed 5,000,000 in transactions through your platform?
Darren Ong
06:34Yeah. That's
Nathan Latka
06:35And you were taking about what percent? One or 2%?
Darren Ong
06:41Actually, we had at 7%.
Nathan Latka
06:44Okay, got it. So you're taking 7%. And so obviously Nick comes in, he does work in 2017, 2018. It's now fluid FinTech today. And obviously, 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?
Darren Ong
07:01So it's now looking at touching 18,000,000 of free Are
Nathan Latka
07:09you guys still taking 7%?
Darren Ong
07:16At the moment, it's
07:21prorated, so about 6%.
Nathan Latka
07:24Okay. Why did... You look like you're thinking deeply about something. Was that a confusing question?
Darren Ong
07:28It was... No, it was like, you know, 6.3, but it's going towards 6%.
Nathan Latka
07:36Okay, so 18,000,000 flowing through the platform last year and you taking about 6.3% means on a gross revenue basis, the company did about 1,100,000 in gross revenue before expenses. Is that accurate?
Darren Ong
07:49Yep.
Nathan Latka
07:50Are you still involved with the company?
Darren Ong
07:52Yeah, I'm a director. I'm actually expanding for the Asia Pacific and Middle East.
Nathan Latka
07:59Yep, interesting. Okay, got it. So what would you say Nick helped you do to grow from 5,000,000 in total transaction volume in 2017 to 18,000,000 in 2019?
Darren Ong
08:10Yeah, okay, great question. So in terms of the website, the landing page, the branding,
08:18what the foundational copyright for our solutions for Fluid Fintech was harnessed and re emphasised to the target audience, which were the B2C users. So that was the first. Second was our packaging in terms of the services, basic, intermediate, advanced. Then also use cases, case studies, a lot of work went into driving the outbound prospecting, ad traffic.
Nathan Latka
08:52Darren, So, really the website gets like no traffic. I mean, I'm in the reports right now for Ahrefs and SEMrush. You don't even register an Alexa traffic rank as a top site, not even in the hundreds of millions. 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. Don't I see any of that?
Darren Ong
09:10Are at f l u I d f I n t e c?
Nathan Latka
09:14Dot com.
Darren Ong
09:15Sometimes it's...
Nathan Latka
09:17Yeah. 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.
Darren Ong
09:29Yeah, so we actually have 23 credit unions. If you have a look at our corporate website, we market through these credit unions. So they are like mini banks. So the ad traffic is coming from them. So the users as well are coming from these 23 credit unions.
Nathan Latka
09:51So this is Burr Credit Union Limited, Tuber Carri and District Credit Limited, St. Jarloth's Credit Union, etcetera.
Darren Ong
09:58Exactly.
Nathan Latka
09:59Okay, interesting. So back to Nick, you decided to invest in SalesProcess. How much did you invest and why'd you do it?
Darren's Investment in SalesProcess and Equity Stake
Darren Ong
10:06So I've invested almost about
10:1230,000 US altogether. And just for a mini
10:19shareholding in their common shares.
Nathan Latka
10:23So how much equity do you own?
Darren Ong
10:291.2%.
Nathan Latka
10:311.2%, okay, got it. And how did you, I mean, obviously, you have to value the company when you make a $30,000 investment, you're valuing the company, what is that somewhere around
10:422,800,000 is the value, right? If you own one point something percent for 30 ks?
Darren Ong
10:47Yep. Yep. So that was back then, right? Now it's really spruced up. It's touching maybe about 800,000 US a month MRR. So
11:02basically, you know, spruced up a lot.
Revenue Run Rate and MRR Growth
Nathan Latka
11:06What was it doing back in 2017?
Darren Ong
11:102017 was,
11:13really, it was only doing about 150,000 MRR.
Nathan Latka
11:20So,
Darren Ong
11:21yeah, the last few years has been fantastic because of the power of remote selling, and COVID has even made remote selling a must now for clients.
Nathan Latka
11:34So what was total revenue in 2019?
Darren Ong
11:392019 total ARR?
Nathan Latka
11:42Just total revenue.
Darren Ong
11:44Total revenue touched about
Nathan Latka
11:46Not touched, total revenue. You're filing a tax return,
Darren Ong
11:49you Yeah, put this $32,000,000?
Nathan Latka
11:53Yep, $1.06.
11:55And what do you guys think it'll do in 2020?
Darren Ong
12:00Going by the 800,000,
12:04gonna touch
12:10easily about '20.
Nathan Latka
12:13Okay. You said in 2019, it was doing $800,000 a month in revenue on average?
Darren Ong
12:17Yeah. Yeah. So it's it's already past million in terms of month recurring, monthly recurring revenue the last few months. So last few months have been, probably month on month been growing about, I'd say 15%.
Nathan Latka
12:37How did you do 16,000,000 in total revenue in 2019? If the average monthly recurring revenue was $800,000 per month, that would be about a $9,600,000 in revenue, not 16,000,000. Where'd the extra 6,000,000, 7,000,000 come from?
Darren Ong
12:49Yeah, okay. So we have some major consulting programs as well that we hit the bigger clients, which are, you know, in the billions. I mean, the clients that are doing, you know, sales in the billion. So that one is also computed into, you know, on the bigger programs.
Nathan Latka
13:09Got it.
Darren Ong
13:10That one's kind of...
Nathan Latka
13:11Yeah. Today, let's just take a flash point in time. What do customers pay on average per month to use the platform? I know you have three plans, but on average, what's customer pay per month?
Darren Ong
13:20Average is about 21,000.
Nathan Latka
13:22Per month?
Darren Ong
13:24No. Per year.
Nathan Latka
13:26Per year. So so sorry. $2,000 per month, And something like how many are paying today monthly?
Darren Ong
13:34They are paying 1,200.
Nathan Latka
13:38You have 1,200 customers today actively paying you?
Darren Ong
13:42Yes. Okay.
Nathan Latka
13:46So just to be clear, over the next thirty days, there's gonna be 1,200 individual people paying you on average $2,000
Darren Ong
13:55Yes, that should be.
Nathan Latka
13:57Okay. That's $2,400,000 in monthly recurring revenue. You just told me you just passed a million in MRR. These numbers are off by factors of two and three X, Darren, what's going on?
Darren Ong
14:06Yeah, so I mean, it might be that some of the 1,200 already
14:15paid up in full. So, yeah, maybe when we look at the monthly recurring revenue, it's probably a breakup of half of it. So half half of it paying on a monthly, some some are paying slightly different programmes. So, you know, the remote selling programme is a is a monthly programme. So the other programs, I think they are, you know, different programs that really, you know, come from a tree installed base and and some are on monthly
14:51monthly revenue.
Team Size, Engineers and Sales Structure
Nathan Latka
14:52How many people are on the team?
Darren Ong
14:55Now it's 59.
Nathan Latka
14:5759 people. And what's sort of the split? How many are engineers?
Darren Ong
15:03We've got five engineers now.
Nathan Latka
15:06Okay, and how many salespeople?
Darren Ong
15:10Sales, if you just look at salary, it's seven.
Nathan Latka
15:18Okay.
Darren Ong
15:18Then the rest are all commission only.
Nathan Latka
15:21How many are full time team members, not including commission only people.
Darren Ong
15:26So seven, five, 12. 12 time.
Nathan Latka
15:3012 are full time and then you've got like 40 essentially contractors that are commission only Okay. You pay them nothing if they don't drive you a sale? Yep. What commission do you pay if someone brings you $2,000 a month customer? What do you pay them in commission?
Commission Structure for Salespeople
Darren Ong
15:4525%.
Nathan Latka
15:47One month or for the full 21,000 annual contract?
Darren Ong
15:52For the full TCV, 21,000 Got
Nathan Latka
15:57it. Interesting. If
Darren Ong
15:58they double team, then usually the... There's usually a discovery and there's a demonstration. So if they double team for it, the discovery is 10% and then the closing the deal is 15%. It's still 25%.
Customer Retention and Annual Churn
Nathan Latka
16:18And how long do these customers typically keep paying you per month? Or do they pay and then sort of stop after a year?
Darren Ong
16:26Yeah, so that's what I was trying to get at. Some remote sales is a monthly program. So some are broken down into three payments and some
16:42go on a monthly spread. So typically, it's a whole year. The clients are very sticky, So we've got a, you know, we had a renewal even, you know, as we speak this month, all was pretty good for renewals for this month.
Nathan Latka
17:03Does that mean?
17:03Because you
17:04have 12, how many, what's your churn annually?
Darren Ong
17:08The churn? The churn is
17:12about 17%.
Nathan Latka
17:14Okay, it. So if you signed up a 100 customers exactly twelve months ago, call it 83 Yep. Of them would
17:22Got it. What's the game plan? Do you guys plan to sell the company or keep driving growth or what? I mean, this is really a consulting business. You're not gonna get a SaaS multiple.
Darren Ong
17:31Yeah. So basically I think Nick's really, you know, leading. He he doesn't... He wants to just, you know, have a lot of profit optimization before Is it profitable
Profitability and Profit Margin
Nathan Latka
17:47is it profitable today?
Darren Ong
17:49Definitely.
Nathan Latka
17:51Do you get monthly payouts?
17:58What was
17:58your monthly payout last month?
Darren Ong
18:01That was about $7.09 in US dollar.
Nathan Latka
18:047,900? And how did you get to that number?
Darren Ong
18:10So we've got valuation, we've got, in fact, you know, the IRR and how he's, like, doing the financial statements and so forth. He takes it from, you know, the financial statements that come in, you know, it's quarterly. Mhmm. So quarterly So well, I
Nathan Latka
18:33mean, maybe a better question is last month, what what was profit? How much hit the bottom line is cash flow?
Darren Ong
18:44I think for each
18:47engagement at, say, at 21,800, the profit looks at...
Nathan Latka
18:53Well, can we just look at the whole business? So just all last month, September 2020, what was total profit in September 2020?
Darren Ong
19:02September... In percentage, it would have been around 40%.
Nathan Latka
19:06What is it in a flat number? Because
Darren Ong
19:09we pay the commissions. Right? So that's about, you know, it prorates to 20% or whatever I understand that. Off for the commission's
Nathan Latka
19:17What's the flat number? Percentages are hard. 40% of a dollar is 40¢. That's not that impressive, even though if it's profit.
Darren Ong
19:22Yeah. It's actually a profit number. 20, 25 is the commissions, then maybe another 35 is the implementation team. You know, we've gotta Yep. Actually have the five engineers working and stuff. And then, you know, another 35 just
Nathan Latka
19:41Darren, I understand you have 40% profit margin. What I'm asking is what was the number? Are we talking a million in profit, 500,000 of profit, a 100,000 in profit in this month, September 2020, what will Out profit
Darren Ong
19:51of, you know, like the 2019, you know, like the figures, just 40% of the 18,000,000 or whatever that I mentioned earlier, the percentage of the
Nathan Latka
20:07This total month just happened. Sorry, I don't understand why you're talking about percentages on projections. If you just look at September, you're about to close out September. What will total profit be in September?
Darren Ong
20:18It's not being computed yet. That's what I'm trying to say.
Nathan Latka
20:21What was it in August? What was it the month prior then? The last month that you completed, what was profit?
Darren Ong
20:32In about...
20:35I guess we would have touched about 1,100,000.
20:41Give or take about 440,000.
Nathan Latka
20:44Okay. And why do you guys decide to pay that out instead of reinvesting it back into the business? How do you make those decisions?
Darren Ong
20:51Yep. So Nick actually has a lot of Mastermind events now. So he's reinvesting a lot more on these strategies for the premium, the diamond package, where he's going to actually have a lot more tracks in terms of the mastermind events, seminars and so on. So these are more on his
21:18diamond programme that he meant sort of gives a very harnessed look in terms of... So on. If you know the background, he was also previously mentored by all the greats, Kyle Lopez so on.
Consulting vs. SaaS Business Model
Nathan Latka
21:41Got it. I think people Yeah, will that's make all their own about same. Sure, sure. Those are very different business models than building a true SaaS business. I think people in terms of that space, the folks that are respected the most in terms of building a true SaaS business from that space are folks like Russell Brunson, which ClickFunnels is 97 a month or $297 a year or a month. It's a clear SaaS products, not selling a
22:02one time event or consulting sort of on the side. It's truly a true SaaS product. There is no true SaaS technology products here, correct? It really is all consulting.
Darren Ong
22:11Consulting, yeah.
Famous Five Rapid-Fire Questions
Nathan Latka
22:12Yeah, very good. Very good. Still impressive, great consulting business. Let's wrap up here with the famous five. Number one, favorite business book.
Darren Ong
22:23That'd be,
22:28guerrilla marketing.
Nathan Latka
22:29Number two, is there a CEO you're following or studying?
Darren Ong
22:38Jeff Bezos.
Nathan Latka
22:39Number three, what's your favorite online tool for building the company?
Darren Ong
22:47Close.
Nathan Latka
22:48Number four, how many minutes of sleep are you getting every night?
Darren Ong
23:00Six hours, right?
Nathan Latka
23:02Yep. Situation, married, single kiddos?
Darren Ong
23:07Kiddo, already three year old, married.
Nathan Latka
23:11Very cool. And how old are you?
Darren Ong
23:14I am 50 this year.
Nathan Latka
23:1650. Congrats. Last question. What's something you wish you knew when you were 20?
Darren Ong
23:21I think Amazon and Google shares. Guys buy spot.
Nathan Latka
23:29Guys, very good. You just met Darren today. He's an investor in SalesProcess. Which is a consulting company, albeit doing fairly well. 1,200 customers doing about a million dollars per month in revenue, highly profitable. Darren put in $30,000 back in 2017 after he hired Nick who runs SalesProcess. To run a project for what's now called Fluid Finance. That company did so well. He said, I gotta invest in this guy. He did. The company's now growing. They've got
23:5412 people full time on the team, about 40 consultants who are commission only salespeople, five engineers who look to scale and continue to scale the company. Darren, thank you for taking us to the top.
Darren Ong
24:04Yep. Cheers, Nathan.
Nathan Latka
24:08One 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 alive. It is fun to watch every Thursday, 1PM
24:32Central. Additionally, remember these recorded founder interviews go live. We release them here on YouTube every day at 2PM Central. To make sure you don't miss any of that, make sure you click the subscribe button below here on YouTube, the big red button, and then click the little bell notification to make sure you get notifications when we do go live. I wouldn't want you to miss breaking news in the SaaS world, whether it's an acquisition, a big
24:53fundraise, a big sale, a big profitability statement or something else. I don't want you to miss it. Additionally, if you wanna take this conversation deeper and further, we have by far the largest private Slack community for B2B SaaS founders. You wanna get in there. We've probably talked about your tool if you're running a company or your firm if you're investing. You can go in there and quickly search and see what people are saying. Sign up for
25:14that 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 click the thumbs up. We get a lot of haters that are mad at how aggressive I am on these shows, but I do it so that we can all learn. We have to counter those people. We gotta push them
25:33away. Click the thumbs up below to counter them and know that I appreciate your guys' support. Alright. I'll be in the comments. See you.