Matt Prados
Founder & CEO, Aloha. On 1 show, 2 appearances. The Shows tab opens the full record on each.
founderexecutiveoperatormattprados.com ↗
Matt Prados is the founder of Review Wave (rebranded as Aloha), a patient experience and scheduling SaaS platform for healthcare practices. Having previously founded digital marketing agency Gotcha Local, he bootstrapped the company into an eight-figure ARR healthcare technology business.
1shows
2appearances
34statements
0resolved
0supported
0contradicted
Everything Matt Prados said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Prados: Review Wave is strictly 'remote never' and rejects remote work
“We are not remote first. We're remote. We're remote never. I hate that business model.”
Prados: Review Wave expects 150% to 160% NRR by year-end
“We've got a number of strategies where, you know, the net revenue retention you know, we're going to go for is going to be, you know, by the end of the year, we expect to be about a 150, 160% net revenue retention with some additional products and things that …”
Having $250K versus $2.5M liquid doesn't change your life much
“If you have 250,000 dollars liquid in the bank or you have, you know, 2.5 million dollars liquid in the bank, your life really doesn't change too much unless you're just crazy and you want to spend it.”
Prados: Poor physical fitness hard-caps mental potential and success
“Everybody's got a different potential, but your physical fitness will limit your potential of your mind. Right. So, so it doesn't matter how many books you read, how much personal development that you chase. If your body's a disaster, if you're overweight, if …”
Prados: VC software valuation multiples max out at around 7x revenue
“Like the economy right now, everybody's puckering up. It's like seven times revenue is, is where they want to kind of max out at.”
Prados: Review Wave targeted $150M valuation with $15M in founder secondary
“Yeah, so, I mean, we were looking at, you know, pretty much a hundred fifty million dollar valuation, 20% deal 50% for secondary, which is where you take it off the table, and then 50% to leave on the books, so we were going to take that fifteen million. We've…”
Prados: VCs resist founder secondary liquidity despite marketing claims
“They didn't really like, they don't love the secondary amount, even though they all say on their website, they love giving you liquidity. They don't, they want you to be, you know, tied to the game and, you know, not go off and be distracted. So it depends and…”
Expanding into multiple verticals is where many SaaS companies fail
“The harder part is actually getting additional verticals, and I think everybody who nails one thinks they can do many, but that's where a lot of companies go to die.”
Stage speaking significantly outperforms event booths in B2B sales
“Most of the time booths are tough you know, unless they have a reason to come to the booth, they don't typically come to the booth. So speaking is, is the best way to go.”
Prados: Review Wave finished 2023 at $18M ARR and $16.5M revenue
“So yeah, we finished right around eighteen million ARR. We did about 16 and a half actual revenue.”
Prados: Never try to raise VC capital during the summer
“Don't ever try to raise during summer. It was on vacation. Nobody wants to like make meetings and stuff. So it's very hard to get VC firms to do anything during that time.”
Prados takes monthly profit distributions rather than reinvesting everything for growth
“So I take chips off the table every single month, right? I take distributions while growing the business at a very rapid pace, et cetera.”
Prados: Review Wave is approaching 6,000 locations across US and Canada
“Were approaching the 6000 mark for locations across the U S and Canada.”
Review Wave will likely break a $20M run rate in February 2024
“And we'll probably break the twenty million run rate this month.”
Prados: Review Wave SDRs make 100 to 200 calls daily to hit OTE
“Early on, you know, it was like, you got to do a hundred, a 150 calls a day. Now we have technology and auto dialer stuff, so our new guys, you know, up to 200 calls you know, early on, but, you know, once they get good, it can come down to, you know, a hundre…”
Prados: Review Wave averages $383 in new MRR per customer
“Average new MRR right now is floating right around the three 83 three bucks a month.”
Prados: Review Wave's US target customer list is nearly 100,000 accounts
“It's close, close to a 100,000 US.”
Review Wave remains fully bootstrapped while entertaining potential investment firms
“Still, still bootstrapped you know, always being approached currently entertaining a couple of firms, you know, they're always, you're always trying to, you know, date somebody and create relationships.”
Review Wave dropped from 20% EBITDA to zero margin to reinvest fully
“We went from, you know, running like 20% EBITDA margins in 20, 20, 23, made the conscious decision to reinvest everything. So we went through a zero EBITDA model, built a lot of headcount, a lot of building.”
Prados bought a $3M beach house and G-Wagon with business profits
“So, so we took profits for, you know, a number of years and it was good money. I mean, you know, I bought the, you know, the, you know, three million plus, you know, beach house that I've always wanted, you know, got the G wagon, you know, every, everybody's, …”
Prados hates tools like Salesforce and Monday, relying mostly on Google Calendar
“We have so many tools that we use and pay for from Salesforce to Monday to this, that, Zoom. Honestly, I hate them all. Like, what do I use most? I use G Suite. That's the tool that I use the most. My calendar is the number one tool that I use.”
One line per show, most statements first. The link opens Matt's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 TOP FOUNDERSLEDGER | Founder & CEO, Aloha | 2 | 34 | — | full record on Top Founders → |