EP 470: How He Got 10,000 Interested In Product Before Launch with Scorely CEO Shawn Porat

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 6 November 2016

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Shawn Porat, founder of Scorely, Judgment Marketplace and Fortune Cookie Advertising. He’s a VP at Mark Echo Enterprise and a contributor to Forbes, Time, and Money Magazine among others.

Famous Five:

Favorite Book? – N/A

What CEO do you follow? – Elon Musk
Favorite online tool? — N/A
Do you get 8 hours of sleep?— Never
If you could let your 20-year old self know one thing, what would it be? – “Work with others and meet as many entrepreneurs as you can”

Time Stamped Show Notes:

01:53 – Nathan introduces Shawn to the show
02:17 – Scorely is a business credit bureau
- 02:23 – Started 6 months ago
02:35 – Shawn is trying to get more small businesses in the platform for free
- 02:53 – Subscription plans
03:15 – Scorely is currently on pre-revenue and will launch in 3 weeks
- 03:25 – 10,300 people in their launch list
03:48 – The idea of Scorely started 3 months ago
- 03:54 – They’ve partnered with different government agencies and businesses
04:25 – The chamber of commerce
- 04:30 – The members have been informed they can get access to business reports through email blast
05:11 – Scorely is the first in the industry
05:25 – Scorely charges between $ 120 to $ 200 per report
06:04 – Scorely focuses on small businesses
- 06:10 – Recovery of Judgement’s credit report
07:25 – Some companies charges small businesses too much for credit reports
07:45 – They are now free as they want more small businesses to learn about Scorely
08:06 – Small businesses want credit reports because of a lot of reasons
- 08:08 – Small businesses need loans
- 09:00 – Scorely can recommend small businesses to banks
- - 09:15 – Goal is to get a loan with the smallest interest
09:30 – Shawn telling Nathan how Scorely works in Nathan’s business scenario
10:28 – Shawn gets 1% - 5% from the loans
10:52 – Number of business loans made yearly in the USA
11:45 – Shawn is still learning a lot
12:20 – Judgment Marketplace
13:48 – Scorely raised $ 250,000
14:05 – Team size
14:30 – Toptal as a freelancing site for developers
15:48 – Connect with Shawn through his website
18:00 – The Famous Five

3 Key Points:

You can’t do everything alone.
Bring your ideas to life.
Make a good action plan in starting a business.

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 the 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.
Assistant.to – The site Nathan uses to book meetings with one email.
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments.
Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel.
ShawnPorat.com – Shawn’s website
Show Notes provided by Mallard Creatives

Transcript

Click on a timestamp to play from that location

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 sole mark.
0:23.9	And I'm your host, Nathan Latka.
0:27.7	Okay, Top Tribe, this week's winner of the 100 bucks that I give away every Monday is Kim Dust.
0:34.9	She's in the entertainment industry and is currently working a full-time day job
0:40.0	and doing her side hustle on the side. Kim, congrats. For you guys this chance to win 100
0:45.5	bucks every Monday. Simply subscribe to the podcast on iTunes now and then text the word Nathan
0:51.7	to 3344 to officially enter. Again, text the word Nathan to 33444 to officially enter.
0:56.1	Again, text the word Nathan to 33444 after you subscribe.
1:02.0	Folks, many of you reach out to me and you say, Nathan, so many guests on your show
1:05.5	talk about the importance of batching.
1:07.4	But whenever I try and batch, you tell me this, you go, Nathan, they don't book back-to-back times. So you, or they don't show up after they book. It's frustrating.
1:14.8	The answer is, guys, you have to use smart tools. I use a tool called acuity scheduling at
1:19.0	Nathanlatka.com forward slash schedule. I'll tell you specifically how I use it later on in the
1:24.2	episode.
1:34.9	Nathan Latka here, this is episode 470.
1:39.3	Coming up tomorrow morning, you're going to learn from Karan Chaudhry in episode 471. He just sold his last business and now lands his first $500,000 customer for his new content,
1:46.5	artificial intelligent business called Com Plus.
	...

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