Victor Levitin, co-founder and CEO of CrazyLister. Prior to CrazyLister, Victor ran a retail business that he drove from $0 to $4.5M in revenue in just three years. In fact, it did so well it won an eBay award for highest conversion rate. Victor channels his eBay retail experiences through a blog called “eBay Sellers Journey to $100K a month” where he helps eBay sellers avoid mistakes and grow their business the right way.
Famous Five:
Favorite Book? – Elon Musk Biography What CEO do you follow? – Alex Turnbull Favorite online tool? — Intercom Do you get 8 hours of sleep?— “About 7” If you could let your 20 year old self know one thing, what would it be? – “Teach myself how to code and learn the balance”
Time Stamped Show Notes:
01:37 – Nathan introduces Victor to the show 02:08 – What is CrazyLister and how does it make money? 02:16 – Created for sellers 02:50 – Similar with creating websites 03:28 – Built-in to eBay’s API 03:40 – You have to know how to code to use CrazyLister 03:49 – Pricing scheme 03:54 – Plans based on the number of listings 04:05 – Monthly RPU 04:20 – CrazyLister is founded in late 2013 04:33 – Victor was 29 then 04:40 – Victor has always been an entrepreneur 05:05 – He was a seller before 05:14 – Shifted to software because of the entrepreneurial bug 06:20 – Shared equity 06:40 – Number of paying customers 07:02 – Total revenue in 2015 07:15 – January 2016 – from premium to paid 07:40 – 14-day free trial 07:55 – MRR 08:50 – Pricing on the website 09:15 – Actively doing customer development 09:41 – Metrics customers have to hit 09:58 – Growth churn per month 10:08 – Typical monthly churn of SaaS companies 10:35 – First month with monthly churn 11:40 – Lifetime value 12:00 – What are you going to pay for a new customer? 12:28 – Team size and located in Tel Aviv, Israel 12:45 – Self-funded or crowd raising 13:01 – Equity round 13:22 - Valuation 13:33 – Victor feels they’ve exceeded the valuation 14:20 – Will never sell 14:45 – Content marketing drives traffic to Victor’s company 15:47 – August expenses 16:20 – Connect with Victor thru his LinkedIn or Facebook 18:40 - The Famous Five
3 Key Points:
Know your priorities and maintain a balanced life. Keep moving—don’t stay in your comfort zone, stagnation is death. Take care of your customers—know their needs and find out how you can help them.
Resources Mentioned:
Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal developers. Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks – The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. LinkedIn – Victor’s LinkedIn account Facebook – Victor’s personal Facebook account Show Notes provided by Mallard Creatives