1431 CRM for Speakers Passes $30k in MRR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 25 June 2019

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

JP Narowski is the CEO of KarmaCRM (https://www.karmacrm.com/)
🕒 Time Stamped Show Notes:
00:00 – Nathan's introduction to today's show
0:25 – How KarmaCRM has been built as a niche CRM for professional speakers
0:45 – Why the average customer pays around $50 per month
1:20 – How he launched the company in 2011
1:30 – Why they are doing around $30k in MRR right now
1:45 – How they've grown 50% year over year
1:55 – Why they've grown with just $100k in outside funding
3:20 – How they've scaled to a team of 4 full-time employees
4:00 – Why they landed their first customers through organic channels
4:40 – How they target a CAC of $300 with payback in 6 months
5:30 – Why speakers love their pre-populated email templates and language within the product
6:15 – How they've gotten to 5% gross logo churn per month
7:10 – Why they assume an LTV of $1k over 20 months
7:35 – How they are looking to scale their business with partnerships
9:15 – Why they are looking to publish more content around the speaking niche
9:55 – How he views the future of the company
10:40 – Why he is using his free time to run a family eCommerce business
11:20 – How he would view a $500k acquisition offer
11:55 – The Famous 5

Transcript

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0:00.0	Guys, my new book, How to Be a Capitalist without any capital, just hit the Wall Street
0:05.7	Journal bestseller list. It's ranking extremely high on Kindle and Audible, and I want to thank
0:11.1	you guys for grabbing it. If you haven't bought it yet, here's what James Y said in an Amazon
0:15.2	review on March 8th. He said, literally, a step-by-step blueprint for conquering the world and building your own
0:21.4	empire, five stars.
0:22.7	It's a verified purchase.
0:24.2	He goes on to say, if you like doing things the hard way, don't read this book.
0:27.4	For everyone else who appreciates someone showing you what to do and why it works, step-by-step,
0:32.4	so you can rinse and repeat and accomplish the same results.
0:34.7	Read this book now in all caps. He then says, pro tip,
0:37.9	stock up on highlighters while you're adding this to your Amazon cart. You'll be using them.
0:41.2	This book should be required reading for every entrepreneur, startup, or founder, business person,
0:45.3	and human. Seriously, Nathan isn't a kind of class that cuts through all the bull crap. He used a different
0:50.7	word to show you what you need to do and how to do it. If success came with an instruction manual, this book would be it.
0:56.9	We'll be stocking up and handing these out as Christmas gifts to all my friends and colleagues.
1:00.9	If I could give this book a six-star review, I would.
1:03.1	From James, James, thank you.
1:04.8	All you that listen to the podcast, thank you so much.
1:07.5	SaaS founders are loving the book.
1:08.9	Go grab an audible version right now at Capitalistbook.com. Founded it in 2011, Karma CRM, it's a CRM for speakers. They're doing about
1:17.3	30 grand a month in revenue. That's up from 20 grand a month about a year ago. They raised
1:20.6	$100,000 currently serving 600 customers, paying about 50 bucks a month again, again, mainly
	...

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