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Jan 15, 2023 · 17m · top-founders

23 year old launches SaaS for hotels, hits $250k revenue in under 12 months

Bart Jan Yates · 8m spoken Nathan Latka · 6m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Nathan Latka interviews 23-year-old Belgian entrepreneur Bart Jan Yates on how he bootstrapped hotel revenue optimization platform Loreca to $250,000 in revenue with a 100% equity stake and a performance-based pricing model.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 43.6% of the talking time here. How this is scored →

Nathan as informed peer 6.0 Guest teaching 1.0 Guest disagreement 1.4 Nathan pushing back 5.2
05100:0010:000:00–3:56 · Nathan as informed peer 4/10 Promotion for SaaS Open NYC Conference Nathan introduces the SaaS Open conference and brings on Bart Jan Yates. Nathan starts asking foundational questions about Loreca's product and customer base, with Bart Jan clarifying that Loreca sells algorithms rather than standard software.3:57–8:09 · Nathan as informed peer 8/10 Analyzing Loreca's Performance-Based Pricing and Revenue Numbers Nathan performs rapid mental math on the pricing and revenue claims, highlighting mathematical discrepancies between the reported customer count, monthly pricing, and 25 percent performance fee. He directly challenges the guest to provide realistic revenue figures.8:09–11:25 · Nathan as informed peer 7/10 Loreca's Founding Story, Team Structure, and Bootstrap Strategy Nathan explores Loreca's founding story and pushes on why Bart Jan uses a complicated performance-fee pricing structure instead of a standard predictable flat SaaS subscription fee.11:26–15:25 · Nathan as informed peer 8/10 Customer Acquisition Strategies and Content Marketing Channels Nathan scrutinizes Bart Jan's marketing metrics, calling out an implausible claim of a thirty percent click-through rate on an eight-thousand-person email list as being several times the industry benchmark.15:25–16:46 · Nathan as informed peer 3/10 The Famous Five Rapid-Fire Questions with Bart Jan Yates Nathan conducts the standard Famous Five rapid-fire questions covering favorite business books, CEOs, software tools, sleep habits, and advice to younger self.0:00–3:56 · Guest teaching 2/10 Promotion for SaaS Open NYC Conference Nathan introduces the SaaS Open conference and brings on Bart Jan Yates. Nathan starts asking foundational questions about Loreca's product and customer base, with Bart Jan clarifying that Loreca sells algorithms rather than standard software.3:57–8:09 · Guest teaching 1/10 Analyzing Loreca's Performance-Based Pricing and Revenue Numbers Nathan performs rapid mental math on the pricing and revenue claims, highlighting mathematical discrepancies between the reported customer count, monthly pricing, and 25 percent performance fee. He directly challenges the guest to provide realistic revenue figures.8:09–11:25 · Guest teaching 1/10 Loreca's Founding Story, Team Structure, and Bootstrap Strategy Nathan explores Loreca's founding story and pushes on why Bart Jan uses a complicated performance-fee pricing structure instead of a standard predictable flat SaaS subscription fee.11:26–15:25 · Guest teaching 1/10 Customer Acquisition Strategies and Content Marketing Channels Nathan scrutinizes Bart Jan's marketing metrics, calling out an implausible claim of a thirty percent click-through rate on an eight-thousand-person email list as being several times the industry benchmark.15:25–16:46 · Guest teaching 0/10 The Famous Five Rapid-Fire Questions with Bart Jan Yates Nathan conducts the standard Famous Five rapid-fire questions covering favorite business books, CEOs, software tools, sleep habits, and advice to younger self.0:00–3:56 · Guest disagreement 1/10 Promotion for SaaS Open NYC Conference Nathan introduces the SaaS Open conference and brings on Bart Jan Yates. Nathan starts asking foundational questions about Loreca's product and customer base, with Bart Jan clarifying that Loreca sells algorithms rather than standard software.3:57–8:09 · Guest disagreement 2/10 Analyzing Loreca's Performance-Based Pricing and Revenue Numbers Nathan performs rapid mental math on the pricing and revenue claims, highlighting mathematical discrepancies between the reported customer count, monthly pricing, and 25 percent performance fee. He directly challenges the guest to provide realistic revenue figures.8:09–11:25 · Guest disagreement 2/10 Loreca's Founding Story, Team Structure, and Bootstrap Strategy Nathan explores Loreca's founding story and pushes on why Bart Jan uses a complicated performance-fee pricing structure instead of a standard predictable flat SaaS subscription fee.11:26–15:25 · Guest disagreement 2/10 Customer Acquisition Strategies and Content Marketing Channels Nathan scrutinizes Bart Jan's marketing metrics, calling out an implausible claim of a thirty percent click-through rate on an eight-thousand-person email list as being several times the industry benchmark.15:25–16:46 · Guest disagreement 0/10 The Famous Five Rapid-Fire Questions with Bart Jan Yates Nathan conducts the standard Famous Five rapid-fire questions covering favorite business books, CEOs, software tools, sleep habits, and advice to younger self.0:00–3:56 · Nathan pushing back 3/10 Promotion for SaaS Open NYC Conference Nathan introduces the SaaS Open conference and brings on Bart Jan Yates. Nathan starts asking foundational questions about Loreca's product and customer base, with Bart Jan clarifying that Loreca sells algorithms rather than standard software.3:57–8:09 · Nathan pushing back 9/10 Analyzing Loreca's Performance-Based Pricing and Revenue Numbers Nathan performs rapid mental math on the pricing and revenue claims, highlighting mathematical discrepancies between the reported customer count, monthly pricing, and 25 percent performance fee. He directly challenges the guest to provide realistic revenue figures.8:09–11:25 · Nathan pushing back 6/10 Loreca's Founding Story, Team Structure, and Bootstrap Strategy Nathan explores Loreca's founding story and pushes on why Bart Jan uses a complicated performance-fee pricing structure instead of a standard predictable flat SaaS subscription fee.11:26–15:25 · Nathan pushing back 7/10 Customer Acquisition Strategies and Content Marketing Channels Nathan scrutinizes Bart Jan's marketing metrics, calling out an implausible claim of a thirty percent click-through rate on an eight-thousand-person email list as being several times the industry benchmark.15:25–16:46 · Nathan pushing back 1/10 The Famous Five Rapid-Fire Questions with Bart Jan Yates Nathan conducts the standard Famous Five rapid-fire questions covering favorite business books, CEOs, software tools, sleep habits, and advice to younger self.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 75.4% · guest 24.6%0:00 · Nathan 75.4% · guest 24.6%3:00 · Nathan 25.6% · guest 74.4%3:00 · Nathan 25.6% · guest 74.4%6:00 · Nathan 43.3% · guest 56.7%6:00 · Nathan 43.3% · guest 56.7%9:00 · Nathan 32.1% · guest 67.9%9:00 · Nathan 32.1% · guest 67.9%12:00 · Nathan 36.4% · guest 63.6%12:00 · Nathan 36.4% · guest 63.6%15:00 · Nathan 47.4% · guest 52.6%15:00 · Nathan 47.4% · guest 52.6%
Sharpest disagreement ▶ 9:58 Bart Jan defends performance pricing model certainty

Bart Jan asserts that Loreca's pricing model works because they are entirely certain in their algorithm's ability to drive incremental revenue.

 Hardest push from Nathan ▶ 6:56 Nathan confronts contradictory revenue and pricing numbers

Nathan directly states that neither the claimed monthly pricing nor the total revenue math makes sense and demands accurate figures.

 Biggest teaching moment ▶ 4:59 Bart Jan explains revenue baseline and discounting deduction

Bart Jan clarifies that Loreca's 25 percent cut is not taken on gross delta but after discounting for market demand and inflation.

 Nathan holds their own ▶ 13:53 Nathan spots unrealistic email click-through benchmark

Nathan uses industry benchmark expertise to immediately identify that a 30 percent click-through rate from an 8,000 subscriber list is statistically improbable.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Promotion for SaaS Open NYC Conference 4213 Nathan introduces the SaaS Open conference and brings on Bart Jan Yates. Nathan starts asking foundational questions about Loreca's product and customer base, with Bart Jan clarifying that Loreca sells algorithms rather than standard software.
Analyzing Loreca's Performance-Based Pricing and Revenue Numbers 8129 Nathan performs rapid mental math on the pricing and revenue claims, highlighting mathematical discrepancies between the reported customer count, monthly pricing, and 25 percent performance fee. He directly challenges the guest to provide realistic revenue figures.
Loreca's Founding Story, Team Structure, and Bootstrap Strategy 7126 Nathan explores Loreca's founding story and pushes on why Bart Jan uses a complicated performance-fee pricing structure instead of a standard predictable flat SaaS subscription fee.
Customer Acquisition Strategies and Content Marketing Channels 8127 Nathan scrutinizes Bart Jan's marketing metrics, calling out an implausible claim of a thirty percent click-through rate on an eight-thousand-person email list as being several times the industry benchmark.
The Famous Five Rapid-Fire Questions with Bart Jan Yates 3001 Nathan conducts the standard Famous Five rapid-fire questions covering favorite business books, CEOs, software tools, sleep habits, and advice to younger self.

Statements from this episode (10)

Assertion Not checkable as stated
Loreca Has 290 Hotel Customers Across Western Europe
“Yeah, we have so right now we have 290 customers all around Western Europe. So it goes from hotels from 20 rooms to hotels with 60, 70 rooms.”
Bart Jan Yates Jan 15, 2023 ▶ 2:28
Disclosure
Loreca Averages $2,000 Monthly Revenue per Hotel on Performance Model
“Well, it's around 2000 but it depends as we work with a no cure, no pace. So we take cuts on everything we earn more.”
Bart Jan Yates Jan 15, 2023 ▶ 3:35
Disclosure
Loreca Takes a 25% Cut of Incremental Hotel Revenue
“From this extra money we take a cut, but this cut is like, it all depends on- [278] Nathan Latka: What cut do you take? [281] Bart Jan Yates: it's most of the time, 25%.”
Bart Jan Yates Jan 15, 2023 ▶ 4:32
Assertion Not checkable as stated
Loreca Generated $22 Million in Incremental Revenue for Clients in 2022
“So it's hard, but I think it's around twenty two million that we earned extra last year.”
Bart Jan Yates Jan 15, 2023 ▶ 5:49
Disclosure
Loreca Switched to Performance-Based Pricing Three Months Ago
“So it's like not even that long, like I think three months that we're working with this model.”
Bart Jan Yates Jan 15, 2023 ▶ 6:49
Prediction Not checkable as stated
Loreca Predicts at Least $1 Million in Total Revenue for 2023
“We hope to be one million. [476] Bart Jan Yates: Certainly. [477] Bart Jan Yates: This is like our, like least least that we should have.”
Bart Jan Yates Jan 15, 2023 ▶ 7:52
Assertion Not checkable as stated
Loreca Operates With a Team of Seven People
“We are seven in total.”
Bart Jan Yates Jan 15, 2023 ▶ 8:40
Disclosure
Loreca Is Completely Bootstrapped Without Outside Capital
“We are bootstrapped.”
Bart Jan Yates Jan 15, 2023 ▶ 8:57
Assertion Not checkable as stated
Loreca Sourced Part of Its 8,000-Subscriber List From Local Government
“I think it's around 8000, but we were in a collaboration with some local government where we were able to get a big portion. So it's not 8000 like that subscribe to our website, but we received some of them.”
Bart Jan Yates Jan 15, 2023 ▶ 12:46
Assertion Not checkable as stated
Yates Claims a 30% Click-Through Rate on Loreca's Newsletter
“No, two, sorry, 30% of everyone clicks through our website reader blog.”
Bart Jan Yates Jan 15, 2023 ▶ 13:34
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