In Episode #623, Nathan interviews Richard Brasser. He’s the foremost expert in helping companies increase the effectiveness and influence of their Salesforce’s strategic use of social communication. He does this through his company, rFactr. Richard pursues his focus in enabling salespeople to leverage social communication and build more meaningful relationship.
Famous Five:
Favorite Book? – Crossing the Chasm What CEO do you follow? – Tony Robbins Favorite online tool? — Outlook Do you get 8 hours of sleep?— Very rarely If you could let your 20-year old self, know one thing, what would it be? – Richard wished he knew the concept of compounding interest and the concept of deferred asset allocation
Time Stamped Show Notes:
01:34 – Nathan introduces Richard to the show 02:15 – Companies need to engage their buyers in a more meaningful way 02:32 – rFactr is focused on enhancing sales people’s ability to connect with people 02:51 – rFactr’s platform is called a social port 03:15 – rFactr has a per month/per user model 03:26 – rFactr is not a marketplace 03:33 – rFactr is directly plugged into companies’ CRMs 03:55 – Average customer pay per month 04:15 – rFactr has channel activations 04:40 – rFactr’s starting price is $5K a month 04:49 – rFactr was launched in 2009 04:57 – rFactr was bootstrapped for the first 8 years 05:04 – rFactr had a seed round and will probably have a series A 05:17 – rFactr has raised a total of $9M 05:32 – Richard played golf on tour for 7 years 05:45 – Richard made a good amount from playing golf 06:01 – Richard was already 7 years in business when he needed someone for the operations and finance side of the company 06:08 – Richard’s partner was just exiting his software company when he joined rFactr 06:25 – Nathan tells Richard about Episode 615 where he had Shin as a guest whose company makes carbon fiber golf shafts 06:47 – Richard hasn’t seen Shin’s product 07:05 – The seed round is an equity round 07:17 – The last round was in 2010 07:40 – The company has been around for 16 years, but the main product was developed 9 years ago 07:51 – Richard’s company started as a strategy and consulting firm 08:33 – Richard shares how the first company was valuated 09:31 – Team size is 18 09:39 – rFactr has 220 paying customers 09:44 – Average MRR 10:29 – Richard shares why they’re having the small companies together with the biggest ones 11:25 – Gross customer churn 11:37 – CAC 12:08 – rFactr has no paid marketing 12:23 – Team’s location 13:45 – The Famous Five
3 Key Points:
Small companies may not be able to pay as much as the big companies, but the level of help they need is similar. Use your money from your exit for your new company. Paid marketing isn’t always necessary—know your options to better decide if it’s right for you.
Resources Mentioned:
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia Klipfolio – Track your business performance across all departments for FREE Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW Show Notes provided by Mallard Creatives