Referizer

“Honestly, we send an email to all my clients says, do you want to own piece of referizer? Nathan Latka: Oh, very cool. SPEAKER_04: Yeah. Andrei Spivak (Andrei Spivovic): And I sent thousand emails out. Andrei Spivak (Andrei Spivovic): Interestingly, five o…”

“We just raised some money and we valued it as nine million dollars. Nathan Latka: How much did you raise? Andrei Spivak (Andrei Spivovic): 500,000.”

“About eight to 900 dollars.”

“COVID came in 35% revenue lost first month, and I got shocked.”

“Whole sales system is performance based, hundred percent, no base pay, right? No overhead. The half of the setup fee, that's 500 bucks, goes to appointment setter that sets up the demo. Plus, we give them 10% of residual, right? Then second half goes to the cl…”

“All of those that are on a salary are outsourced.”

“So, we raised it on three million dollars valuation.”

“We just passed thousands, so we are about a 1015 paying clients and over 13,000 freemium ones.”

“Everybody in the company is paid 20% with a stake of, you know, 80% cash, 20% equity.”

“We went from 60,000 a year revenue to 1.4 million. Literally in 12 months just by implementing this model.”

“Around six percent. 5.5 to 6.5.”

“So, one 146 is residual without set up fees. So, if you deduct 174 -146, I would say 26, 28,000.”

“I mean, luckily we didn't lose a single client, a single employee. Andrei Spivak (Andrei Spivovic): We didn't lose clients. Andrei Spivak (Andrei Spivovic): We just lost the revenue. Andrei Spivak (Andrei Spivovic): We gave them free accounts until they rec…”

“We are calling about 20,000 businesses every week.”

“It's about 35% of our revenue going to sales efforts. If you're growing fast, it goes 40%, right? So yeah, if it's 174,000 times 0.4, it goes about 70,000 dollars towards sales efforts.”

“You'll make 50 dollars per attended demo. If you become master appointment setter, you'll make, ah, sorry, start for 40 and get to go to 50. And then when the sale happen, you'll start with 50 dollars per sale, go to hundred dollars per sale.”

“We first increase our monthly By 20 bucks. So that brought another 25,000 dollars without any additional churn.”

“Quite frankly, we didn't have any additional churn quite. We reduced the churn and the revenue came back to all that high four months later.”

“Second we added services, agency services, their premium white gloves services that people are buying, and it's about 1200 dollars per customer instead of 200 dollars per customer. So we added about another 20,000 dollars there.”

“We don't accept the resumes or forms. We just set company orientation once a week. And 50, sometimes 200 people join that orientation.”

“We bootstrapped all the way until the last five months when we started getting money from SBA, started getting money from free money from government, like everybody does, right?”

“229,000.”

“Currently, we just passed 1200 paying clients. We have over, over 13,000 freemium clients. They're using our system and free features, but about 1240 paying clients.”

“In Referizer, we, if we exclude the call center and dialers, we have 46 people full-time.”

“Plus there's incentive for our A support team where we give them a financial incentive to introduce this to the closer who's going to sell them on a full feature.”

“It's outsourced call center working from home. We have about 30 people. Now in it.”

“I think that's undervalued by a lot.”

“And then we reduced the churn. We literally hired eight more people in customer support to make sure that we are available At the moment, they need us without scheduling upfront.”

“A hundred employees to get a rich financial freedom in five years when you go public.”

“So we are burning about 22,000 a month.”

“That's tough questions. I don't do payroll anymore, but I can give you a close estimate. It's about 48, nine, about 50,000 dollars.”

“He's back in Serbia. He's making probably about 5000 dollars a month.”

“We're doing 30,000 calls a week, 400 demos, hundred attended about 30 to 35 sales.”

“I invest zero hours a week on this program now and keeps making us hundred sales a month.”

“I don't have digital ads budget. I wasted probably 20,000 dollars, got two clients on it. This is the only way we grow.”

“So I turned, offered them hourly rate. Instead of scheduling six, eight, 10 appointments a day, they went back to two. Why two? Because that was a minimum expectations.”

“Most of the equity is of my employees. We share equity with a team. My team is my investors, right?”

“Revenue is now at 3.8 million since they are up to updated slide. So last month we did 355 freaking thousand dollars.”

“We pay the 500 dollars when they refer a friend, and then when the person comes from the call center, they freaking bring you the whole call center back.”

“And my revenue was five thousand dollars a month before that. And I'm telling you that story because it went from almost nowhere. And by the way, that 104,000 in 2015 include a piece of that uptake in the last month. And then we went boom, 240,000 dollars in a…”