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SaaS Interviews with CEOs, Startups, Founders

EP 540: Cliently Hits $8k MRR, Aims for $5m Valuation Next Round with CEO Spencer Farber

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 15 January 2017

⏱️ 19 minutes

🧾️ Download transcript

Summary

Spencer Farber. He is the CEO and founder of Cliently and he’s been in the industry for 10+ years working across many spaces. He discovered one thing—the constant pain for companies is to define creative ways to generate leads and THAT is what he’s trying to solve with Cliently.

Famous Five:

  • Favorite Book? – Marc Benioff’s books
  • What CEO do you follow? –  Mikita Mikado
  • Favorite online tool? — Trello
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – People are going to throw curveballs and you just need to understand how to deal with them

 

Time Stamped Show Notes:

  • 01:42 – Nathan introduces Spencer  to the show
  • 02:12 – Cliently helps a client engage with prospects
  • 02:23 – A lead is only valuable if you’re able to do something with it
  • 02:33 – Cliently is a SaaS model
    • 02:40 – Cliently’s subscription plans starts at $99 to $599 a month
  • 02:50 – Average RPU
  • 03:18 – There are clients who pay annually
  • 03:45 – They currently have 70-80 customers
  • 04:02 – Cliently is bootstrapped with $30K and friends and family with $75K
  • 04:22 – Cliently was launched in February 2016
  • 05:00 – Spencer shares about a client in Australia and how they are using Cliently
    • 05:20 – The client is BigReviewTV
    • 05:28 – Cliently creates custom campaigns for them
  • 06:10 – “We are not trying to be a CRM but we are trying to put the pieces together that are essentially going to help engagement”
  • 06:45 – Cliently is using different APIs
  • 07:00 – Spencer is looking to partner with Bond.co in the future
  • 07:21 – Spencer shares how Cliently is going to beat the other guys in their space
  • 08:12  - Spencer wanted to raise capital
  • 08:54 – Cliently is using multiple sources for their leads
  • 09:49 – Cliently’s target MRR
  • 09:58 – Spencer would raise $500K on an equity round
    • 10:30 – Spencer would give up 10-15% to get the target MRR
  • 11:06 – Spencer shares how Cliently’s system is unique
  • 11:34 – Team size
  • 12:05 – Gross customer churn
  • 13:05 – Team location
  • 15:00 – The Famous Five
  • 17:18 – Connect with Spencer through email

 

3 Key Points:

  • A lead is only valuable if you’re able to do something with it.
  • Stand out in your space—give your client more reasons to stick with you.
  • If you have a dream, pursue it.

 

Resources Mentioned:

  • 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
  • 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 the quality of Toptal
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • [email protected] – Spencer’s email address
  • 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 sole mark.

0:23.9

And I'm your host, Nathan Latka.

0:28.3

Okay, Top Tribe, this week's winner of the 100 bucks that I give away every Monday is Kim

0:34.5

Dust.

0:35.4

She's in the entertainment industry and is currently working a full-time

0:39.7

day job and doing her side hustle on the side. Kim, congrats. For you, he has a chance to win

0:45.8

100 bucks every Monday. Simply subscribe to the podcast on iTunes now and then text the word

0:51.7

Nathan to 33444 to officially enter. Again, text the word Nathan to 3.3444 to officially enter. Again, text the word Nathan to 33444 to officially enter. Again, text the word Nathan to 33444 after you've

1:01.0

subscribed. Many people ask me what tool I used to sell my first company, Heyo. The answer is the top

1:08.1

inbox.com. I used it to send emails, schedule emails to be sent out later,

1:13.7

and set reminders inside my inbox so I would know when potential buyers were actually interested,

1:19.7

and I easily remember to follow up with ones that hadn't replied to me. You can try it for free at

1:24.5

thetop inbox.com. Nathan Latka here, this is episode 540.

1:29.1

Coming up tomorrow morning, you'll learn from Bobby Martin of Vertical IQ.

1:32.6

It just hit 175 grand in monthly recurring revenue,

1:35.8

helping 140 banks prepare for company meetings with a lot of data.

1:40.8

Nathan Latka here, good morning, everybody.

...

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