Khuram Hussain, founder of Inbox 2 and now Fileboard. The two companies reached multi-million-dollar worth, and Khuram provides insight into his two businesses and how they have succeeded. He gives us an idea of Fileboard’s revenue and what factors go into his company, which has grown to be worth millions in just a few short years.
Famous 5:
Favorite Business Book? – Zero to One What CEO do you follow? —Elon Musk Favorite online tool? — Trello Do you get 8 hours of sleep?— No If you could let your 20 year old self know one thing, what would it be? — Not to go and run for corporate
Time Stamped Show Notes:
01:16 – Nathan introduces Khuram Hussain 01:44 – Khuram started Inbox 2 in his twenties. 02:31 – Khuram explains the history of how Inbox 2 started 03:15 – Inbox connects everyone from one single platform (Facebook, Twitter, etc.) 03:44 – Inbox grew to 60 million users 04:22 – Inbox was bought by MyLife 04:44 – Khuram valued the business by user base and engagement 05:05 – Inbox was a team of 12 people and self-funded when it sold. 05:46 – Inbox was a 6-figure sell 06:20 – Then Khuram moved to starting a new business, Fileboard 08:44 – Fileboard is a sales tool to improve the sales process of a company. 09:40 – It was launched in 2012. 10:03 – First year’s revenue was $0, and they grew over the years to about $10 million 11:06 – Khuram shares about a typical process with a company that purchases File Board 11:54 – Khuram explains their customer base. 12:35 – Average business pays $20k to $30k per year 13:14 – Khuram explains Fileboard’s investors 13:52 – Customer worth is two to three years 14:56 – Customer acquisition cost. 15:50 – Nathan talks with Khuram about MRR 17:30 – The company is based in Europe. Khuram discusses his team. 18:00 – You can connect with Khuram on LinkedIn 19:22 – Nathan goes over the Famous Five with Khuram
3 Key Points:
Khuram had decided that the money from his first business would not mark the end of his business endeavors. Fileboard’s profits increased from nothing to millions within just a few years. The company’s customer acquisition cost is extremely low compared to what each business will pay to use Fileboard.Resources Mentioned:
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.Show Notes provided by Mallard Creatives
