Slater Victoroff. He’s the CEO and founder of Indico Data Solutions. He’s a poet, a coder, MMA fighter, vegan Buddhist, and Red Letter Christian.

Famous Five:

• Favorite Book? – n/a
• What CEO do you follow? –  n/a
• Favorite online tool? — Stack Overflow
• Do you get 8 hours of sleep?— No
• If you could let your 20-year old self, know one thing, what would it be? – Slater hoped he had realized how much he loved programming

 

Time Stamped Show Notes:

• 02:26 – Nathan introduces Slater to the show
• 02:45 – Indico is a text and image analytics provider
• 03:25 – Indico’s business model
• • 03:52 – The enterprise client is their main revenue channel
• 05:09 – Indico was founded in 2013
• 05:25 – Indico has raised $4.5M
• • 05:30 – Indico started with a seed round
• 06:10 – How Slater managed having a bridge round
• 07:05 – First year revenue
• 07:31 – 2016 revenue
• • 07:38 – Slater is hoping to hit a million dollar revenue for 2017
• 08:03 – Average MRR
• 08:22 – Indico is a SaaS company
• 08:42 – Indico currently has 20 customers
• 09:11 – Manulife is working with Indico
• 11:30 – Each client of Indico wants to have their own set of algorithms
• 12:00 – Nathan summarizes how Indico works
• 12:30 – Indico gives their customers an engine
• 13:20 – Slater worries about Facebook’s echo chamber
• • 13:33 – “Facebook’s algorithm is not designed to create echo chambers”
• 15:17 – Customer churn
• 15:53 – Zero spent on marketing
• 16:00 – Most funding goes to the engineering team
• 16:12 – Team size is 10
• 17:40 – The Famous Five

 

3 Key Points:

• Having a bridge round does not mean you’re losing money—prove that you are growing and need more funding.
• Learn how to work around echo chambers.
• Find out what you love to do and go for 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
• Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives