EP 401: Quit $180k Microsoft Job to Launch Own Startup with KarmaCircles CEO Deepak Goel

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 29 August 2016

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Deepak Goel, the mastermind behind his new company KarmaCircles. Deepak says the company is the next-generation LinkedIn. He believes he has found his calling in life as an entrepreneur in the social networking niche.

Famous Five:

Favorite Book? – Give and Take
What CEO do you follow? — Jeff Weiner, CEO of LinkedIn
Favorite online tool? — Mint, Appear.in

Do you get 8 hours of sleep? — Absolutely.
If you could let your 20 year old self know one thing, what would it be? — Don’t stay in a company for more than two years.

Time Stamped Show Notes:

01:05 – Nathan introduces Deepak
01:50 – KarmaCircles is an app that connects entrepreneurs with successful business people
02:55 – Pilots with business schools and corporate companies
03:15 – No money the first year
03:30 – What companies are similar to KarmaCircles
- 04:20 – A LinkedIn of the future
05:00 – All free pilots right now
- 05:45 – Why they are not charging for the app now
06:40 – Will the customers pay when they make that shift?
- 07:10 – If customers like the product, they will stay
07:40 – Target annual contract value size
- 07:55 – 500 users per month for business schools
- 08:45 – It can be used by any company that does networking
- 09:00 – Much larger contracts for corporate companies
10:10 – Capital from six angel investors
10:40 – 6 people on their team
- 10:50 – They pay $3000/month for six engineers
11:40 – Differences between them and the company Clarity
12:00 – Social networking is Deepak’s “life calling”
13:00 – Karmacircles.com/Deepak
15:00 – Giving of yourself for free will circle back to you
15:45 – The Famous Five

3 Key Points:

Find the industry that you were made for.
If you give to others freely, you will see karma come back around to you.
Believe in your business and set high expectations.

Resources Mentioned:

Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Mint – Deepak’s favorite online tool
Appear.in – A video conversation tool that requires no download
Show Notes provided by Mallard Creatives

Transcript

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0:00.0	This is the top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
0:09.0	You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
0:16.0	I'm now at $20,000 per talk.
0:18.0	Five and six million.
0:19.0	He is hell-bent on global domination. We just broke our 100,000 unit sold mark Five and six million. He is hell bent on global domination.
0:21.2	We just broke our 100,000 unit soul mark.
0:23.9	And I'm your host, Nathan Latka.
0:27.7	Okay, Top Tribe, this week's winner of the $100 is Rich Jones.
0:32.3	Okay, Rich Jones.
0:33.1	He is stuck in corporate.
0:34.3	He wants to break free.
0:35.4	He's binging on the show.
0:36.5	For your chance to win 100 bucks every Monday morning, simply subscribe to break free. He's binging on the show. For your chance to win
0:37.7	$100 bucks every Monday morning, simply subscribe to the podcast right now on iTunes and then
0:43.1	text the word Nathan to 3344 to prove that you did it. Top Drive, this is episode 401. Coming up
0:51.0	tomorrow morning, you're going to hear from keep dot com founder brian wong he's just 25
0:56.3	years old he's raised 32 million dollars and at 11 million dollars in transaction volume in
1:01.2	2015 alone of which his company made 5 million at least of profit top tribe good morning our
1:08.9	guest today is depok goal and he is the founder and CEO of Karma Circles.
1:13.4	Prior to that, he was co-founder and chief technology officer of Packback,
1:17.6	a Chicago-based startup funded by Mark Cuban and other notable angel investors,
1:21.2	where I built their product strategy, online marketing, and engineering team.
	...

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