EP 619: Smartbeat Raises $250K Onboards First Customers To Help Brick and Mortar Track Customers with CEO Paul Trappitt

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 4 April 2017

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Paul Trappitt. He’s currently the CEO and co-founder of Smartbeat. Before Smartbeat, he was the senior business analyst at National Australia Bank and a senior project lead at SignIQ.

Famous Five:

Favorite Book? – Start with Why and The Startup Owner’s Manual
What CEO do you follow? – Gary Vaynerchuk
Favorite online tool? — HubSpot
Do you get 8 hours of sleep?— No
If you could let your 20-year old self, know one thing, what would it be? – “I wish I knew smartphones were coming”

Time Stamped Show Notes:

01:22 – Nathan introduces Paul to the show
01:45 – Smartbeat helps small businesses to navigate the complex omni channel
02:30 – Paul shares how one of their paying customers uses Smartbeat
03:02 – Smartbeat is about the people that are already using your business
- 03:10 – Smartbeat turns customers into raging fans
03:20 – Smartbeat is currently focusing on brick-and-mortar businesses
03:51 – Paul explains how they can help Jim, the café owner
05:14 – Smartbeat provides Wi-Fi to business owners and other technologies
- 05:50 – Smartbeat targets your audience in social media
06:32 – Smartbeat is a SaaS business
- 06:39 – Pricing starts at $250 a month
07:06 – Smartbeat currently has 5 customers
07:12 – Paul had a Wi-Fi company for 3 years
07:38 – Paul’s Wi-Fi business did $20K in 2016
07:44 – Paul pivoted because there was too much competition in the Wi-Fi space
08:23 – Smartbeat raised $150K in Australia
- 08:39 – It was an equity round
08:55 – Paul shares how he came up with the valuation
10:10 – Smartbeat started in 2015
10:18 – Team size is 6 and they are all based in Australia
10:30 – Paul shares how they find their customers
10:55 – Smartbeat built their list organically through networking
12:35 – The Famous Five

3 Key Points:

Don’t be afraid to pivot—you’ll know when it’s time.
One way to build your network is by spreading news about your product in social gatherings.
Technology is unpredictable so you have no choice but to adapt.

Resources Mentioned:

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
Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia
Klipfolio – Track your business performance across all departments for FREE
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
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
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

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.
0:09.4	You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
0:16.1	I'm now at $20,000 per talk.
0:18.3	Five and six million.
0:19.3	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.
0:28.2	I just finished traveling Southeast Asia for 41 days, and I usually always get sick when I travel.
0:33.7	And quite frankly, eating is difficult for me.
0:35.8	It's hard to find a restaurant.
0:36.8	And I'm spoiled
0:37.5	in austin with my personal chef well i took these little packets with me this time 30 of them
0:42.4	in my carry-on suitcase they kept me totally healthy with 11 different secret ingredients you can see
0:48.5	them at nathanlaka dot com forward slash juice i'll tell you more later on in the show that's nathanlaka
0:53.5	dot com forward slash juice. I'll tell you more later on in the show. That's Nathanlaka.com forward slash
0:54.6	juice.
0:57.8	Nathan Latka here, this episode 619, and coming up tomorrow morning, you'll learn from
1:02.5	Pep Leha in episode 620. He's a father of two and 36 years old, and his company, Conversion
1:08.5	XL is doing $200,000 per month with three products,
1:12.7	including a live masterclass, an agency, and a self-serve model.
1:18.4	Good morning, everybody. Nathan Latke here and our guest this morning is Paul Traffitt. He is
1:23.4	currently the CEO and co-founder of Smart Beat, which is what we'll focus on today. Before that, he was a senior business analyst at National Australia Bank and a senior project
	...

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