How StayBusy CEO Carter Olive grew StayBusy to $100K revenue with a 4 person team in 2023.

guys his family's painting business did 2.7 million bucks in Revenue but he said guys I want to go after our nine figure deal let's make this a Marketplace for any Home Services car detailing painting you name it cleaning they'll do it he put together a 97 Grand Slam offer for folks in Vancouver to use his app to get their whole condo clean for 97 bucks 200 people took advantage of that in q1 so far this year in 2023 he's hoping to do 5 000 jobs completed this year and those jobs get completed over 1500 contractors who ideally start making a living on his app stay busy.ca hey folks my guest today is Carter Olive he helps homeowners get things done quickly by easling hiring contractors for jobs around the house is it two times founder and a golf attic Carter are you ready to take us to the top yeah let's do it man all right man is tiger ever gonna be back to his old form or no has that guy gone forever I saw him limping into the Genesis Invitational this week so I'm hoping he can scrape out one last win but we'll see I mean he's got the passion right yeah yeah we'll see what happens all right so talk to me about the business how did you get into this space were you doing a bunch of manual work yourself or your families in the business or how did you how did you come across it yeah so uh I started in the space doing painting actually um I was grandfathered in uh through a family family member they owned the business they were just a boomer who was retiring um looked to pass on the business to somebody and I was like sure I'll do it I didn't want to be a painter I've got a finance background but decided to take a look at the numbers and just jump Jump Right In um shortly after taking over the business I realized that there's really no technology in the control wait wait Carter before he tells that story uh since you're a finance guy what were you most concerned about looking at the numbers at the start uh accounts receivable okay interesting all right now tell the rest of the story we'll come back to accounts receivable in a second okay cool uh but yeah no really just um I realize there's no technology in the space and there were just so many cool startups that were happening um Uber at the time was one that was really eye-catching and then I went to Dubai to meet with a friend of mine who is like a startup incubator and there's a great company out there called Urban company and basically what I wanted to do is I wanted to take what these other companies were doing and just see if it was applicable to the Canadian Market um so we launched uh on-demand home services so you can hire anything from dog walkers to Plumbing to painting simple Services right at the at the you know Mobile touch of your fingers so that's what we've been doing uh we're niching it in Vancouver um the way that we're bringing it to Market is we're doing a lot of direct mail which is a little bit non-traditional for uh SAS real quick hold on hold on one sec the website today focuses on painting but you just said I mean are you are you more raw today than what your website says yeah yeah I know the painting is uh the way that we launched it so we launched it as a painting service offering more but we're actually currently changing the text and just revisiting that landing page because more has become more popular I guess yeah we just decided to focus on one service rather than telling everybody that we do everything yeah no I think that's great and there's text on the site I imagine it's old but it says you're doing 500 paintings per month excuse me per month what's that updated today are you still doing about 500 a month uh yeah I would say about 500 a month but more so just spread out across the services channel so I wouldn't say it's more it's 500 painting it's more just 500 um services that we're booking so and what is actually what are the what are the big what are the top three today painting and what are the other two oh house cleaning for sure interesting okay car detailing yeah everybody just wants to get into a nice clean car I mean you're in a Condo building right so 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 so I guess look it's a Marketplace you have two things you've got to figure out how to get consumers to click yes I want house cleaning or car detailing or painting and then you've got to go get go round up people that can do car detailing and reply instantly when someone pushes a button in your app so let's start with the supply let's start with the supply side first where do you go find 100 car detailers in Vancouver that are ready to respond to your consumer's requests in the app Facebook groups easy interesting um Facebook groups just contact I mean this is like some tricks to the trade that I had to use but just contacting admins and getting their respect um and just being integral and empathetic towards like the group the group posting rules um and then just reaching out to people and letting them know what you're doing um looking letting them know that you're looking to network and just have these coffee conversations um and then on the other side of things like getting people to click to click yes right and book that service um Alex harmosi does a great piece on offering something for free or offering something way cheaper than what it's worth um so that's how we got people to say yes is we use direct mail to just basically send them a grand slam offer so it was 97 for a full condo clean this is under 100 bucks to get your whole condo cleaned um people were just like oh that seems like a no-brainer and it was right I mean for 90 100 well you're a finance guy though how do you make the margins work you got to find cleaners in Vancouver willing to clean a whole condo for under 97 bucks and and still have room for your margin yeah in the beginning though you don't like in the beginning really we're just trying to break even like we're just really trying to get the trust because we want the app to be sticky right we want people to trust the app and continue to use other services right so it's really just like the uh implement or the the first click that we're trying to to get and it's really not about making a margin so much on that first click um but again to like house cleaners all these sorts of services right like they offer you know low end um production so Carter how many folks took you up on that on that grand slam offer uh well in the we just did this Grand Slam off we're starting in January uh and then we had 200 people in the first month wow okay and then and then were you able to break even in all those 200 cleans e around it yeah yeah I mean sometimes obviously you go above and beyond uh to just go the extra mile to satisfy...