Nathan speaks with Ishveen Anand, the CEO of Open Sponsorship, a membership-based platform that connects brands with athletes looking for sponsors. Listen as Nathan asks Ishveen about the origins of the company, their latest round of funding, and life as one of Forbes 30 Under 30.
Famous 5
Favorite Book? – None
What CEO do you follow?— Indra Nooyi
What is your favorite online tool?— ReBump
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be?—Ignorance is bliss
Time Stamped Show Notes:
01:09 – Nathan’s introduction
01:48 – Welcoming Ishveen to the show
01:59 – Talking Forbes 30 Under 30
02:24 – How Open Sponsorship makes money
03:12 – Money is made on the brand wanting to find the athlete side--$400/month so not a huge barrier to entry—and %5 on the athlete side
04:15 – The cash deals are not necessarily the most popular
05:15 – Started in August 2014
05:39 – 400 brands have already signed up
06:19 -- $120K annual revenue in 2015
06:48 – Trying to be at $3M at end of year
07:39 – Customer Acquisition Cost is at $30
08:41 – Lifetime value of a customer is between $1200 and $2K
10:28 – Subscription minimum is 3 months
12:12 – The value proposition
14:50 -- Ishveen Anand LinkedIn
3 Key Points:
If your customer acquisition cost is lower than lifetime value, why are you hesitating on spending?
Don’t let age hold you back, get started young!
Know your value proposition like the back of your hand.
Resources Mentioned:
Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for.
Host Gator - Powerful web hosting made easy and affordable.
The Top is FOR YOU if you are:
A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4)
STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7)
An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1)
The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).
Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries.
Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe at http://NathanLatka.com/TheTop
