4.6 • 683 Ratings
🗓️ 7 December 2018
⏱️ 18 minutes
🧾️ Download transcript
In 2012, Wayne Johnson co-founded encompass corporation, a SaaS business driven by the belief that the best decisions are made when people understand the full picture. As CEO of encompass, Wayne has lead the creation of the company’s Know Your Customer (KYC) automation software for the banking, finance, legal and accountancy sectors.
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0:00.0 | things will work out in the end focus you'll get there and look he's lived that story after a |
0:04.4 | successful exit or two he then lost millions after deal went south because he couldn't do proper |
0:09.6 | due diligence he decided to build a tool to help the legal finance and other industries do |
0:13.8 | diligence at scale and effectively launched a channel strategy right from day one with a big |
0:18.6 | partnership in 2012 now 70 over 70 full-time folks, |
0:23.3 | 250 customers, you know, doing south of a million bucks per month right now, 3% gross churn annually, |
0:28.7 | that's revenue churn, $75,000 cac, 15 to 20 month payback period. So healthy economics, again, |
0:34.0 | based between London and Sydney, helping these folks do diligence at scale. |
0:38.5 | This is the top entrepreneurs podcast where founders share how they started their companies and got filthy rich or crash and burn. |
0:49.9 | Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. |
0:59.3 | We went from a couple hundred thousand dollars to $2.7 million. |
1:02.5 | I had no money when I started the company. |
1:04.5 | It was $160 million, which is the size of any IPOs. |
1:07.9 | We're a bit strapped. |
1:08.8 | We have like 22,000 customers. |
1:12.7 | With over 5 million downloads in a very short amount of time, |
1:16.9 | major outlets like Inc are calling us the fastest growing business show on iTunes. |
1:21.9 | I'm your host, Nathan Latka, and here's today's episode. |
1:26.4 | Hello, everyone. |
1:27.2 | My guest today is Wayne Johnson. |
1:29.4 | In 2012, he co-founded a Compass Corporation, a SaaS business driven by the belief that |
1:34.2 | the best decisions are made when people understand the full picture. |
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