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SaaS Interviews with CEOs, Startups, Founders

1209 He Spent $1.6m Buying Out Investors, Now Owns 100% Gets Rich off Dividends

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 15 November 2018

⏱️ 15 minutes

🧾️ Download transcript

Summary

Chris Vandersluis – a veteran North American project management authority, public speaker and author – is CEO of HMS Software, publisher of world-leading TimeControl® web-based corporate timesheet software.

Transcript

Click on a timestamp to play from that location

0:00.0

Don't be overconfident.

0:01.6

Founded HMS timesheet software on-prem back in 84, three, a couple years before I was born, pretty

0:06.8

incredible.

0:07.7

Now 20 people, remote locations around the world, headquarters in Montreal.

0:11.1

He's in Tampa today.

0:12.3

Again, HMS is the tool.

0:13.6

They've got 250 customers paying anywhere between $600 and $700 per month, doing about $2,000

0:17.4

in ARR today.

0:18.7

75% of that revenue is true kind of cloud SaaS.

0:21.9

The rest is old on-prem, you know, maintenance licenses, SLA agreements, things like that.

0:26.7

Growing organically now added about 200 grand in ARR over the past 12 months.

0:31.8

You know, scaling the nice way.

0:33.1

You know, investors put in $2 million.

0:35.2

He bought them out at about 60 cents on the dollar many years ago.

0:38.1

Now he's building a great, profitable, healthy company year over year in the time tracking space.

0:43.0

This is the top entrepreneurs podcast where founders share how they started their companies and got filthy rich or crash and burn.

0:59.4

Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. We went from a couple hundred thousand dollars

1:05.6

to $2.7 million. I had no money when I started the company. It was $160 million, which is the size of any IPOs.

1:12.2

We're a bit strapped.

1:13.2

We have like 22,000 customers.

1:17.1

With over 5 million downloads in a very short amount of time,

1:21.3

major outlets like Inc are calling us the fastest growing business show on iTunes.

...

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