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Dec 14, 2021 · 22m · top-founders

SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors

George Simons · 11m spoken Nathan Latka · 7m spoken
0:00 / 0:00

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SoloSuit founder George Simons discusses how his startup achieved 80,000 dollars in monthly revenue by helping consumers respond to debt collection lawsuits. Leveraging high-intent organic SEO and flat-rate pricing, SoloSuit levels the civil legal playing field while challenging traditional SaaS recurring revenue orthodoxy.

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 38.5% of the talking time here. How this is scored →

Nathan as informed peer 5.4 Guest teaching 4.9 Guest disagreement 2.9 Nathan pushing back 4.3
05100:0010:0020:000:53–3:25 · Nathan as informed peer 5/10 Introducing George Simons and the Debt Lawsuit Problem Nathan introduces the company and explores how SoloSuit works. George provides clear industry context on the scale of debt lawsuits and the default rate.3:25–5:59 · Nathan as informed peer 6/10 Founding SoloSuit and Transitioning from Free to Paid Nathan presses George hard on why he doesn't have exact conversion metrics or processed case numbers top of mind. George clarifies current active customer volume to satisfy the inquiry.5:59–9:31 · Nathan as informed peer 7/10 Predictable Revenue Versus Traditional SaaS Recurring Revenue George pushes back on SaaS recurring revenue dogma, arguing that steady monthly lawsuit volumes make transactional revenue just as predictable. Nathan defends the SaaS predictability rationale before discussing SEO.9:31–11:38 · Nathan as informed peer 4/10 SoloSuit Team Structure and Operational Workflow A brief overview of SoloSuit's team breakdown between engineering and operations, transitioning into a sponsor read.11:39–15:34 · Nathan as informed peer 7/10 Year-Over-Year Revenue Growth and Milestones Nathan challenges George on the necessity of raising venture capital and getting stuck on the VC treadmill. George reframes early-stage fundraising as de-risking and cites Zapier as a counterexample.15:36–20:24 · Nathan as informed peer 6/10 Software Engineering and Automating Nationwide Court Filings Nathan plays devil's advocate, asking why consumers who spent money shouldn't be sued. George educates him with CFPB stats showing 50% of sued consumers don't actually owe the debt, alongside predatory fees added by collectors.20:24–21:55 · Nathan as informed peer 3/10 The Famous Five Rapid-Fire Questions Standard rapid-fire Famous Five wrap-up covering books, CEOs, tools, and sleep habits in a friendly tone.0:53–3:25 · Guest teaching 5/10 Introducing George Simons and the Debt Lawsuit Problem Nathan introduces the company and explores how SoloSuit works. George provides clear industry context on the scale of debt lawsuits and the default rate.3:25–5:59 · Guest teaching 4/10 Founding SoloSuit and Transitioning from Free to Paid Nathan presses George hard on why he doesn't have exact conversion metrics or processed case numbers top of mind. George clarifies current active customer volume to satisfy the inquiry.5:59–9:31 · Guest teaching 6/10 Predictable Revenue Versus Traditional SaaS Recurring Revenue George pushes back on SaaS recurring revenue dogma, arguing that steady monthly lawsuit volumes make transactional revenue just as predictable. Nathan defends the SaaS predictability rationale before discussing SEO.9:31–11:38 · Guest teaching 4/10 SoloSuit Team Structure and Operational Workflow A brief overview of SoloSuit's team breakdown between engineering and operations, transitioning into a sponsor read.11:39–15:34 · Guest teaching 5/10 Year-Over-Year Revenue Growth and Milestones Nathan challenges George on the necessity of raising venture capital and getting stuck on the VC treadmill. George reframes early-stage fundraising as de-risking and cites Zapier as a counterexample.15:36–20:24 · Guest teaching 8/10 Software Engineering and Automating Nationwide Court Filings Nathan plays devil's advocate, asking why consumers who spent money shouldn't be sued. George educates him with CFPB stats showing 50% of sued consumers don't actually owe the debt, alongside predatory fees added by collectors.20:24–21:55 · Guest teaching 2/10 The Famous Five Rapid-Fire Questions Standard rapid-fire Famous Five wrap-up covering books, CEOs, tools, and sleep habits in a friendly tone.0:53–3:25 · Guest disagreement 2/10 Introducing George Simons and the Debt Lawsuit Problem Nathan introduces the company and explores how SoloSuit works. George provides clear industry context on the scale of debt lawsuits and the default rate.3:25–5:59 · Guest disagreement 2/10 Founding SoloSuit and Transitioning from Free to Paid Nathan presses George hard on why he doesn't have exact conversion metrics or processed case numbers top of mind. George clarifies current active customer volume to satisfy the inquiry.5:59–9:31 · Guest disagreement 4/10 Predictable Revenue Versus Traditional SaaS Recurring Revenue George pushes back on SaaS recurring revenue dogma, arguing that steady monthly lawsuit volumes make transactional revenue just as predictable. Nathan defends the SaaS predictability rationale before discussing SEO.9:31–11:38 · Guest disagreement 1/10 SoloSuit Team Structure and Operational Workflow A brief overview of SoloSuit's team breakdown between engineering and operations, transitioning into a sponsor read.11:39–15:34 · Guest disagreement 5/10 Year-Over-Year Revenue Growth and Milestones Nathan challenges George on the necessity of raising venture capital and getting stuck on the VC treadmill. George reframes early-stage fundraising as de-risking and cites Zapier as a counterexample.15:36–20:24 · Guest disagreement 5/10 Software Engineering and Automating Nationwide Court Filings Nathan plays devil's advocate, asking why consumers who spent money shouldn't be sued. George educates him with CFPB stats showing 50% of sued consumers don't actually owe the debt, alongside predatory fees added by collectors.20:24–21:55 · Guest disagreement 1/10 The Famous Five Rapid-Fire Questions Standard rapid-fire Famous Five wrap-up covering books, CEOs, tools, and sleep habits in a friendly tone.0:53–3:25 · Nathan pushing back 2/10 Introducing George Simons and the Debt Lawsuit Problem Nathan introduces the company and explores how SoloSuit works. George provides clear industry context on the scale of debt lawsuits and the default rate.3:25–5:59 · Nathan pushing back 7/10 Founding SoloSuit and Transitioning from Free to Paid Nathan presses George hard on why he doesn't have exact conversion metrics or processed case numbers top of mind. George clarifies current active customer volume to satisfy the inquiry.5:59–9:31 · Nathan pushing back 4/10 Predictable Revenue Versus Traditional SaaS Recurring Revenue George pushes back on SaaS recurring revenue dogma, arguing that steady monthly lawsuit volumes make transactional revenue just as predictable. Nathan defends the SaaS predictability rationale before discussing SEO.9:31–11:38 · Nathan pushing back 2/10 SoloSuit Team Structure and Operational Workflow A brief overview of SoloSuit's team breakdown between engineering and operations, transitioning into a sponsor read.11:39–15:34 · Nathan pushing back 6/10 Year-Over-Year Revenue Growth and Milestones Nathan challenges George on the necessity of raising venture capital and getting stuck on the VC treadmill. George reframes early-stage fundraising as de-risking and cites Zapier as a counterexample.15:36–20:24 · Nathan pushing back 7/10 Software Engineering and Automating Nationwide Court Filings Nathan plays devil's advocate, asking why consumers who spent money shouldn't be sued. George educates him with CFPB stats showing 50% of sued consumers don't actually owe the debt, alongside predatory fees added by collectors.20:24–21:55 · Nathan pushing back 2/10 The Famous Five Rapid-Fire Questions Standard rapid-fire Famous Five wrap-up covering books, CEOs, tools, and sleep habits in a friendly tone.

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

0:00 · Nathan 35.8% · guest 64.2%0:00 · Nathan 35.8% · guest 64.2%3:00 · Nathan 30.2% · guest 69.8%3:00 · Nathan 30.2% · guest 69.8%6:00 · Nathan 31.9% · guest 68.1%6:00 · Nathan 31.9% · guest 68.1%9:00 · Nathan 69.4% · guest 30.6%9:00 · Nathan 69.4% · guest 30.6%12:00 · Nathan 35.2% · guest 64.8%12:00 · Nathan 35.2% · guest 64.8%15:00 · Nathan 30% · guest 70%15:00 · Nathan 30% · guest 70%18:00 · Nathan 24.2% · guest 75.8%18:00 · Nathan 24.2% · guest 75.8%21:00 · Nathan 63.2% · guest 36.8%21:00 · Nathan 63.2% · guest 36.8%
Sharpest disagreement ▶ 6:15 Rejecting the SaaS recurring revenue dogma

George directly dismisses conventional SaaS thinking by asserting that recurring revenue is overrated and that debt filing demand provides identical predictability.

 Hardest push from Nathan ▶ 5:08 Pressing on lack of primary tracking metrics

Nathan refuses to let George deflect on core volume numbers, bluntly questioning how the founder cannot have his primary success metric top of mind.

 Biggest teaching moment ▶ 18:44 Citing CFPB debt lawsuit statistics

When Nathan moralizes debt obligations, George schools him with federal data showing 50% of sued individuals do not actually owe the debt, completely shifting the host's perspective.

 Nathan holds their own ▶ 14:02 Critiquing the VC track reality

Nathan draws on his broad startup dataset to explain why taking VC puts founders on an aggressive fundraising schedule and why the Zapier outlier model is statistically rare.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing George Simons and the Debt Lawsuit Problem 5522 Nathan introduces the company and explores how SoloSuit works. George provides clear industry context on the scale of debt lawsuits and the default rate.
Founding SoloSuit and Transitioning from Free to Paid 6427 Nathan presses George hard on why he doesn't have exact conversion metrics or processed case numbers top of mind. George clarifies current active customer volume to satisfy the inquiry.
Predictable Revenue Versus Traditional SaaS Recurring Revenue 7644 George pushes back on SaaS recurring revenue dogma, arguing that steady monthly lawsuit volumes make transactional revenue just as predictable. Nathan defends the SaaS predictability rationale before discussing SEO.
SoloSuit Team Structure and Operational Workflow 4412 A brief overview of SoloSuit's team breakdown between engineering and operations, transitioning into a sponsor read.
Year-Over-Year Revenue Growth and Milestones 7556 Nathan challenges George on the necessity of raising venture capital and getting stuck on the VC treadmill. George reframes early-stage fundraising as de-risking and cites Zapier as a counterexample.
Software Engineering and Automating Nationwide Court Filings 6857 Nathan plays devil's advocate, asking why consumers who spent money shouldn't be sued. George educates him with CFPB stats showing 50% of sued consumers don't actually owe the debt, alongside predatory fees added by collectors.
The Famous Five Rapid-Fire Questions 3212 Standard rapid-fire Famous Five wrap-up covering books, CEOs, tools, and sleep habits in a friendly tone.

Statements from this episode (15)

Assertion Partly supported
Simons: 10M Americans are sued for debt annually; 9M lose by default
“Ten million people are sued for debt every year in the US. Nine million of them automatically lose their case because they can't figure out how to respond.”
George Simons Dec 14, 2021 ▶ 1:45
Assertion Not checkable as stated
Simons: The average SoloSuit user faces $4,700 in credit card debt
“Our average is actually 4700 dollars.”
George Simons Dec 14, 2021 ▶ 2:14
Assertion Not checkable as stated
Simons: Over 60% of SoloSuit customers have debt collection cases dismissed
“Around like 60%, even more of the time, Customers cases get dismissed, and they actually win their case just by filing an answer.”
George Simons Dec 14, 2021 ▶ 2:52
Disclosure
Simons: SoloSuit charges a flat $197 fee to review and file responses
“Currently we just have a flat, flat rate business model. Price is subject to change, but right now it's, they pay us a 197 dollars.”
George Simons Dec 14, 2021 ▶ 3:15
Insight
Simons: SoloSuit pivoted because users struggled to file generated documents themselves
“People, even once they generated their document on our site, a lot of people didn't file because it was just too hard to file a document in court.”
George Simons Dec 14, 2021 ▶ 3:56
Assertion Not checkable as stated
Simons: SoloSuit has protected over $100 million from credit card debt losses
“At the moment, we've done over, we've helped over 22,000 people, and we've helped protect over a hundred million dollars from credit card debt losses.”
George Simons Dec 14, 2021 ▶ 4:37
Assertion Not checkable as stated
Simons: SoloSuit currently serves approximately 400 paying customers per month
“Like currently we help, like, 400 paying customers a month.”
George Simons Dec 14, 2021 ▶ 5:35
Opinion
Simons: Recurring revenue is overrated; transactional lawsuit volume is highly predictable
“We think recurring revenue is a little bit overrated. And our revenue, I think is very predictable. People are getting sued at the same rate every month. They have been for decades. So we consider our revenue to be very predictable, even though it isn't techni…”
George Simons Dec 14, 2021 ▶ 6:22
Assertion Not checkable as stated
Simons: Nearly 100% of SoloSuit customer acquisition comes from organic search
“Nearly a hundred percent of our customers come to us from SEO focus on ranking first on Google search and YouTube search.”
George Simons Dec 14, 2021 ▶ 7:08
Assertion Not checkable as stated
Simons: SoloSuit operates its growing legal tech business with just six people
“We're just a team of six.”
George Simons Dec 14, 2021 ▶ 9:35
Disclosure
Simons: SoloSuit has raised less than $1 million in total funding
“Oh, we've raised less than a million so far.”
George Simons Dec 14, 2021 ▶ 12:35
Insight
Simons: Raising venture capital actually de-risks a startup for early-stage founders
“I think raising money in my mind is a form of de-risking. A venture. I think some people think that it like increases the risk, but for us, I see it as like a form of de-risking.”
George Simons Dec 14, 2021 ▶ 12:44
Assertion Not checkable as stated
Simons: SoloSuit is the first platform to automate nationwide court filings
“What we're doing is we are according to my knowledge, like the first and only company that is compiling like a software stack that allows us to calculate the Filing information for different courts and then to file on those courts.”
George Simons Dec 14, 2021 ▶ 15:48
Assertion Not checkable as stated
Simons: SoloSuit estimates there are between 10,000 and 30,000 US courts
“Our estimate is there's like 10 to 30,000 courts in the U S”
George Simons Dec 14, 2021 ▶ 16:12
Assertion Contradicted
Simons: Half of debt defendants claim they are sued for unowned debt
“According to Consumer Financial Protection Bureau, about 50% of people that are sued for debt say they're being sued for debt they don't owe.”
George Simons Dec 14, 2021 ▶ 18:44
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