1425 He Pivoted From IBM Reseller to SaaS in 1998, Now $5m in ARR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 19 June 2019

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Mickey Patton is President and CEO of Clear C2 (https://www.clearc2.com/)

🕒 Time Stamped Show Notes:

00:00 – Nathan's introduction to today's show

0:30 – How they launched the company as an electronic rolodex

0:55 – Why they are built as a CRM for manufacturers

1:35 – How they average customer pays them $60 per seat monthly

2:20 – Why Mickey joined the company to launch the software division

3:00 – How they've scaled to 50 full-time employees

3:40 – Why they are working with 450 total customers today

4:30 – How they are serving around 100,00 total seats

5:20 – Why they put their sales teams on annual quotas

6:15 – How they exhibiting less than 10% gross logo churn annually

7:25 – Why they are transitioning to a more user-friendly model

8:55 – How they are paying around $10k to land a new customer right now

11:25 – How they are doing more than $3M in ARR

12:30 – Why they are growing 60% year over year

13:00 – Why they are past $5M in ARR

13:20 – The Famous Five

Transcript

Click on a timestamp to play from that location

0:00.0	My new book is out on Audible, How to Be a Capitalist without any capital.
0:05.3	You can grab it right now.
0:06.9	Here's what a user Thomas Lornaviticus said.
0:09.6	Latka is the real deal, five stars.
0:12.1	Hey, Nathan, I just listened to your podcast with JLD.
0:14.5	You killed it.
0:15.4	I saw your book earlier last week and thought,
0:17.2	meh, I'll wait when Kindle costs $199 or whatever,
0:20.0	as I have over 150 books to catch
0:21.8	up with. But then I sense that this book may have something I need right now. I bought it for
0:26.4	full price, but didn't really start reading it. Then talking with JLD, you mentioned that the
0:30.4	strategies may not work if you wait. And that's so true. I read it. I'm feeling pumped to devour
0:36.1	it even more. Thank you for sharing it all and kicking
0:38.5	ass. Guys, all of you that listen to the podcast, you were the reason I wrote the book. Sass CEOs,
0:44.1	founders, entrepreneurs. Go grab it today at capitalistbook.com, especially if you like audio,
0:50.0	go grab the audible version right now. Again, capitalistbook.com.
0:55.3	Jump in the CRM space back in 1998, pivoting away from being just an IBM reseller today.
1:00.3	They've got over $5 million in AR serving over 80,000 seats across 450 paid logos. Totally bootstrapped.
1:06.8	He bought out as other founders over the past 15, 20 years. Healthy growth, 60% year-over-year growth since last year in September of 2017.
1:14.7	Spending about, call it $10,000 to acquire a new $6,000 a month customer.
1:19.4	Team up about 45 to 50 people based down there in Texas.
1:23.5	This is the top entrepreneurs podcast where founders share how they started their companies and got
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Nathan Latka, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Nathan Latka and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.