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Nov 20, 2020 · 25m · top-founders

SalesProcess Did $1m Last Month Helping Brands Drive Sales, 40% Net Profit

Darren Ong · 12m spoken Nathan Latka · 7m spoken Frank Bien · 4s spoken Eric Yuan · 4s spoken Vivek Bhaskaran · 2s spoken
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Angel investor Darren Ong joins host Nathan Latka to break down how salesprocess.io reached over $1 million in monthly recurring revenue with a 40 percent net profit margin. Ong details the company's high-ticket consulting model, client acquisition frameworks, team structure, and his own transition from client to equity partner.

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 37.2% of the talking time here. How this is scored →

Nathan as informed peer 8.0 Guest teaching 2.5 Guest disagreement 2.3 Nathan pushing back 7.8
05100:0010:0020:001:40–6:05 · Nathan as informed peer 7/10 Overview of SalesProcess and Consulting Offerings Nathan cuts through Darren's marketing jargon, probing into the exact mechanics of SalesProcess's offerings and explicitly correcting Darren's characterization of the founder as a 'scientist'. Darren remains polite while clarifying that their remote sales offering functions as coaching rather than placing staff on their own payroll.6:06–11:36 · Nathan as informed peer 8/10 Fluid FinTech Case Study and Acquisition Channels Nathan performs a real-time audit using Ahrefs and SEMrush, aggressively challenging Darren on why Fluid FinTech has virtually zero web traffic despite claiming massive growth from Nick's inbound funnels. Darren defends the business model by explaining that customer traffic is acquired through partnerships with 23 credit unions.11:37–16:25 · Nathan as informed peer 9/10 Equity Investment and Scrutiny of Revenue Figures Nathan applies rigorous arithmetic to Darren's metrics, pointing out that 1,200 paying customers at $2,000 per month equals $2.4M MRR rather than the reported $1M MRR, and that $800k MRR does not reconcile with $16M in 2019 revenue. Darren is caught off guard and scrambles to explain the discrepancies with contract structures.16:26–23:40 · Nathan as informed peer 8/10 Team Structure, Commissions, Profitability, and Business Model Nathan repeatedly refuses Darren's attempts to describe profit in abstract percentages, demanding exact dollar figures for monthly net cash flow. Nathan also firmly categorizes the business as high-margin info-marketing/consulting rather than a true SaaS platform deserving software multiples.1:40–6:05 · Guest teaching 3/10 Overview of SalesProcess and Consulting Offerings Nathan cuts through Darren's marketing jargon, probing into the exact mechanics of SalesProcess's offerings and explicitly correcting Darren's characterization of the founder as a 'scientist'. Darren remains polite while clarifying that their remote sales offering functions as coaching rather than placing staff on their own payroll.6:06–11:36 · Guest teaching 4/10 Fluid FinTech Case Study and Acquisition Channels Nathan performs a real-time audit using Ahrefs and SEMrush, aggressively challenging Darren on why Fluid FinTech has virtually zero web traffic despite claiming massive growth from Nick's inbound funnels. Darren defends the business model by explaining that customer traffic is acquired through partnerships with 23 credit unions.11:37–16:25 · Guest teaching 1/10 Equity Investment and Scrutiny of Revenue Figures Nathan applies rigorous arithmetic to Darren's metrics, pointing out that 1,200 paying customers at $2,000 per month equals $2.4M MRR rather than the reported $1M MRR, and that $800k MRR does not reconcile with $16M in 2019 revenue. Darren is caught off guard and scrambles to explain the discrepancies with contract structures.16:26–23:40 · Guest teaching 2/10 Team Structure, Commissions, Profitability, and Business Model Nathan repeatedly refuses Darren's attempts to describe profit in abstract percentages, demanding exact dollar figures for monthly net cash flow. Nathan also firmly categorizes the business as high-margin info-marketing/consulting rather than a true SaaS platform deserving software multiples.1:40–6:05 · Guest disagreement 2/10 Overview of SalesProcess and Consulting Offerings Nathan cuts through Darren's marketing jargon, probing into the exact mechanics of SalesProcess's offerings and explicitly correcting Darren's characterization of the founder as a 'scientist'. Darren remains polite while clarifying that their remote sales offering functions as coaching rather than placing staff on their own payroll.6:06–11:36 · Guest disagreement 3/10 Fluid FinTech Case Study and Acquisition Channels Nathan performs a real-time audit using Ahrefs and SEMrush, aggressively challenging Darren on why Fluid FinTech has virtually zero web traffic despite claiming massive growth from Nick's inbound funnels. Darren defends the business model by explaining that customer traffic is acquired through partnerships with 23 credit unions.11:37–16:25 · Guest disagreement 2/10 Equity Investment and Scrutiny of Revenue Figures Nathan applies rigorous arithmetic to Darren's metrics, pointing out that 1,200 paying customers at $2,000 per month equals $2.4M MRR rather than the reported $1M MRR, and that $800k MRR does not reconcile with $16M in 2019 revenue. Darren is caught off guard and scrambles to explain the discrepancies with contract structures.16:26–23:40 · Guest disagreement 2/10 Team Structure, Commissions, Profitability, and Business Model Nathan repeatedly refuses Darren's attempts to describe profit in abstract percentages, demanding exact dollar figures for monthly net cash flow. Nathan also firmly categorizes the business as high-margin info-marketing/consulting rather than a true SaaS platform deserving software multiples.1:40–6:05 · Nathan pushing back 6/10 Overview of SalesProcess and Consulting Offerings Nathan cuts through Darren's marketing jargon, probing into the exact mechanics of SalesProcess's offerings and explicitly correcting Darren's characterization of the founder as a 'scientist'. Darren remains polite while clarifying that their remote sales offering functions as coaching rather than placing staff on their own payroll.6:06–11:36 · Nathan pushing back 8/10 Fluid FinTech Case Study and Acquisition Channels Nathan performs a real-time audit using Ahrefs and SEMrush, aggressively challenging Darren on why Fluid FinTech has virtually zero web traffic despite claiming massive growth from Nick's inbound funnels. Darren defends the business model by explaining that customer traffic is acquired through partnerships with 23 credit unions.11:37–16:25 · Nathan pushing back 9/10 Equity Investment and Scrutiny of Revenue Figures Nathan applies rigorous arithmetic to Darren's metrics, pointing out that 1,200 paying customers at $2,000 per month equals $2.4M MRR rather than the reported $1M MRR, and that $800k MRR does not reconcile with $16M in 2019 revenue. Darren is caught off guard and scrambles to explain the discrepancies with contract structures.16:26–23:40 · Nathan pushing back 8/10 Team Structure, Commissions, Profitability, and Business Model Nathan repeatedly refuses Darren's attempts to describe profit in abstract percentages, demanding exact dollar figures for monthly net cash flow. Nathan also firmly categorizes the business as high-margin info-marketing/consulting rather than a true SaaS platform deserving software multiples.

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

0:00 · Nathan 55.1% · guest 44.9%0:00 · Nathan 55.1% · guest 44.9%3:00 · Nathan 15% · guest 85%3:00 · Nathan 15% · guest 85%6:00 · Nathan 30.3% · guest 69.7%6:00 · Nathan 30.3% · guest 69.7%9:00 · Nathan 39.7% · guest 60.3%9:00 · Nathan 39.7% · guest 60.3%12:00 · Nathan 31.3% · guest 68.7%12:00 · Nathan 31.3% · guest 68.7%15:00 · Nathan 36.3% · guest 63.7%15:00 · Nathan 36.3% · guest 63.7%18:00 · Nathan 28.6% · guest 71.4%18:00 · Nathan 28.6% · guest 71.4%21:00 · Nathan 46.9% · guest 53.1%21:00 · Nathan 46.9% · guest 53.1%24:00 · Nathan 81% · guest 19%24:00 · Nathan 81% · guest 19%
Sharpest disagreement ▶ 11:06 Darren defends acquisition model against lack of web traffic

When Nathan claims the company has zero presence to back up its growth claims, Darren pushes back against the premise by explaining their distribution runs through 23 partner credit unions.

 Hardest push from Nathan ▶ 15:26 Nathan directly challenges mismatched MRR and customer figures

Nathan refuses to accept Darren's conflicting numbers, bluntly stating that the customer count and price points are off from the reported MRR by factors of two to three times.

 Biggest teaching moment ▶ 11:06 Darren explains offline credit union distribution channels

Darren clarifies the gap in Nathan's live web traffic analysis by revealing that Fluid FinTech operates as an embedded solution marketed directly through mini-bank partners.

 Nathan holds their own ▶ 15:11 Nathan recalculates unit economics live to catch unvetted claims

Nathan demonstrates financial mastery by calculating annual and monthly run-rates on the fly, immediately exposing irreconcilable discrepancies in Darren's reported metrics.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Overview of SalesProcess and Consulting Offerings 7326 Nathan cuts through Darren's marketing jargon, probing into the exact mechanics of SalesProcess's offerings and explicitly correcting Darren's characterization of the founder as a 'scientist'. Darren remains polite while clarifying that their remote sales offering functions as coaching rather than placing staff on their own payroll.
Fluid FinTech Case Study and Acquisition Channels 8438 Nathan performs a real-time audit using Ahrefs and SEMrush, aggressively challenging Darren on why Fluid FinTech has virtually zero web traffic despite claiming massive growth from Nick's inbound funnels. Darren defends the business model by explaining that customer traffic is acquired through partnerships with 23 credit unions.
Equity Investment and Scrutiny of Revenue Figures 9129 Nathan applies rigorous arithmetic to Darren's metrics, pointing out that 1,200 paying customers at $2,000 per month equals $2.4M MRR rather than the reported $1M MRR, and that $800k MRR does not reconcile with $16M in 2019 revenue. Darren is caught off guard and scrambles to explain the discrepancies with contract structures.
Team Structure, Commissions, Profitability, and Business Model 8228 Nathan repeatedly refuses Darren's attempts to describe profit in abstract percentages, demanding exact dollar figures for monthly net cash flow. Nathan also firmly categorizes the business as high-margin info-marketing/consulting rather than a true SaaS platform deserving software multiples.

Statements from this episode (11)

Assertion Not checkable as stated
Ong: salesprocess.io has achieved over 1,200 client successes
“What we do is we've actually had about a 1200 plus client successes in really clearing the product market fit, the client Mindset as well to grow their business at the maximum, like per day, you know, tweakings for sales and marketing and lead gen, outbound pr…”
Darren Ong Nov 20, 2020 ▶ 2:14
Disclosure
Ong: salesprocess.io packages range from $15.8k to $55k annually
“So our goal packages come at 1508, 15,800 per year. And it for Platinum, it's at 21,800 per year. And for our Diamond package, which, where it's one-on-one with Nick Cosbin, it's at 55 thousand US per year.”
Darren Ong Nov 20, 2020 ▶ 4:47
Disclosure
Darren Ong invested nearly $30,000 in salesprocess.io common shares
“So I've invested almost about 30,000 us all together. and you know, just for a mini you know shareholding in, in the, you know, their common shares.”
Darren Ong Nov 20, 2020 ▶ 11:44
Disclosure
Darren Ong holds a 1.2% equity stake in salesprocess.io
“1.2%.”
Darren Ong Nov 20, 2020 ▶ 12:04
Assertion Not checkable as stated
Salesprocess.io generated about $150k MRR in 2017
“2017 was really was only doing about a 150,000 MRR.”
Darren Ong Nov 20, 2020 ▶ 12:44
Assertion Not checkable as stated
Salesprocess.io reached $16 million in total revenue in 2019
“Yeah, sixteen million.”
Darren Ong Nov 20, 2020 ▶ 13:25
Prediction Not checkable as stated
Ong projects salesprocess.io will reach $20M in revenue in 2020
“Going by the 800,000. Gonna touch easily. Easily about 20.”
Darren Ong Nov 20, 2020 ▶ 13:34
Assertion Not checkable as stated
Salesprocess.io passed $1M in monthly recurring revenue in late 2020
“So it's already past a million in terms of month recurring, monthly recurring revenue the last few months.”
Darren Ong Nov 20, 2020 ▶ 13:53
Assertion Not checkable as stated
Ong: Salesprocess.io maintains an annual customer churn rate around 17%
“The churn is about 17%.”
Darren Ong Nov 20, 2020 ▶ 18:40
Disclosure
Ong received roughly $7,900 in monthly distributions from Salesprocess.io
“That was about seven, nine in US dollars.”
Darren Ong Nov 20, 2020 ▶ 19:32
Assertion Not checkable as stated
Salesprocess.io generated $1.1M revenue and $440K profit in August 2020
“This would have touched about a 1,000,001. Give or take about 440,000.”
Darren Ong Nov 20, 2020 ▶ 22:00
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