EP 436: $4.5m on Ebay, Now SaaS Hits $25kMRR to Help Sellers Sell on Ebay with Crazylister CEO Victor Levitin

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 2 October 2016

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Victor Levitin, co-founder and CEO of CrazyLister. Prior to CrazyLister, Victor ran a retail business that he drove from $0 to $4.5M in revenue in just three years. In fact, it did so well it won an eBay award for highest conversion rate. Victor channels his eBay retail experiences through a blog called “eBay Sellers Journey to $100K a month” where he helps eBay sellers avoid mistakes and grow their business the right way.

Famous Five:

Favorite Book? – Elon Musk Biography
What CEO do you follow? – Alex Turnbull
Favorite online tool? — Intercom

Do you get 8 hours of sleep?— “About 7”
If you could let your 20 year old self know one thing, what would it be? – “Teach myself how to code and learn the balance”

Time Stamped Show Notes:

01:37 – Nathan introduces Victor to the show
02:08 – What is CrazyLister and how does it make money?
- 02:16 – Created for sellers
- 02:50 – Similar with creating websites
- 03:28 – Built-in to eBay’s API
- 03:40 – You have to know how to code to use CrazyLister
03:49 – Pricing scheme
- 03:54 – Plans based on the number of listings
- 04:05 – Monthly RPU
04:20 – CrazyLister is founded in late 2013
- 04:33 – Victor was 29 then
04:40 – Victor has always been an entrepreneur
- 05:05 – He was a seller before
05:14 – Shifted to software because of the entrepreneurial bug
06:20 – Shared equity
06:40 – Number of paying customers
07:02 – Total revenue in 2015
07:15 – January 2016 – from premium to paid
- 07:40 – 14-day free trial
07:55 – MRR
08:50 – Pricing on the website
09:15 – Actively doing customer development
09:41 – Metrics customers have to hit
09:58 – Growth churn per month
- 10:08 – Typical monthly churn of SaaS companies
- 10:35 – First month with monthly churn
11:40 – Lifetime value
12:00 – What are you going to pay for a new customer?
12:28 – Team size and located in Tel Aviv, Israel
12:45 – Self-funded or crowd raising
- 13:01 – Equity round
- - 13:22 - Valuation
13:33 – Victor feels they’ve exceeded the valuation
- 14:20 – Will never sell
14:45 – Content marketing drives traffic to Victor’s company
15:47 – August expenses
16:20 – Connect with Victor thru his LinkedIn or Facebook
18:40 - The Famous Five

3 Key Points:

Know your priorities and maintain a balanced life.
Keep moving—don’t stay in your comfort zone, stagnation is death.
Take care of your customers—know their needs and find out how you can help them.

Resources Mentioned:

Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal developers.
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.
LinkedIn – Victor’s LinkedIn account
Facebook – Victor’s personal Facebook account
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.
0:32.4	Okay, Rich Jones.
0:33.1	He is stuck in corporate.
0:34.4	He wants to break free.
0:35.4	He's binging on the show.
0:36.6	For your chance to win $100 every Monday morning, simply subscribe to the podcast right
0:41.7	now on iTunes and then text the word Nathan to 33444 to prove that you did it.
0:49.0	Okay, many of you heard I made a big league acquisition of a company called Send Later and I'm a greedy
0:54.9	business guy I didn't want to give away equity to a technical co-founder so I found
0:59.0	my coders on a website called TopTl at Nathanlatka.com forward slash T-O-P-T-A-L
1:05.6	I've paid over $12,000 to the site to a guy named he sh Shaming in China, who I've never met, but we're
1:11.9	going to build a big business together.
1:13.4	I'm taking Send Later public by the time I turn 30.
1:16.2	I'll tell you more about Toptoe later on in this episode.
1:19.0	Nathan Latka here, this is episode 436.
	...

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