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Oct 6, 2020 · 26m · top-founders

Richter Hits $4.5m Fine Tuning Sales Process For F500 Brands

Robert Cornish · 14m spoken Nathan Latka · 8m spoken
0:00 / 0:00

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Richter and Companies founder Robert Cornish joins Nathan Latka to discuss how his creative agency reached nearly $5 million in revenue by producing strategic video and sales enablement content for Fortune 500 brands. Cornish details his journey navigating financial setbacks, closing high-ticket enterprise contracts, and instilling entrepreneurial problem-solving values.

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

Nathan as informed peer 3.4 Guest teaching 2.1 Guest disagreement 0.7 Nathan pushing back 2.1
05100:0010:0020:000:20–4:35 · Nathan as informed peer 2/10 Promotion: Subscribing to Conversations with Nathan Latka The segment includes the standard subscription promo read followed by standard introductory background questions. Latka inquires how Cornish broke into enterprise accounts, and Cornish details cold calling and bootstrapping.4:36–10:16 · Nathan as informed peer 5/10 Revenue Breakdown, AT&T Case Study, and Contract Strategy Latka drills down into the math behind Richter's revenue and contract sizes, catching a discrepancy when Cornish discusses moving downstream versus expanding enterprise contracts. Latka presses Cornish until Cornish clarifies that he misspoke and is actually focusing on higher-value enterprise deals.10:16–12:31 · Nathan as informed peer 5/10 Creative Team Structure and Video Production Philosophy Latka introduces his own A/B testing experience where raw smartphone video outperformed high-budget productions. Cornish politely reframes the premise, educating Latka that Fortune 500 B2B enterprise communications require polish, precision, and strategic messaging rather than quick social content.12:31–14:33 · Nathan as informed peer 2/10 Building an Agency Empire and Entrepreneurial Lineage Latka asks Cornish about his ambition to build an agency empire versus a software product, followed by an exploration of Cornish's family business background and a mid-roll sponsorship read.14:35–19:48 · Nathan as informed peer 3/10 Parental Influence, Problem-Solving, and Teaching Children The conversation shifts to personal themes around parenting and instilling entrepreneurial confidence. Latka pushes Cornish to move past abstract advice and give concrete examples of what he tells his children, prompting a plug for Cornish's book and an anecdote about teaching kids problem-solving.19:49–23:50 · Nathan as informed peer 4/10 Agency Financial Metrics, Cash Flow, and Pandemic Resilience After brief banter about Super Coffee, Latka asks how agency owners should balance fixed costs with contract flow. Cornish explains his trailing 12-week income ratios and how aggressive outbound selling allowed them to pay off $300k of debt during the pandemic.23:50–25:58 · Nathan as informed peer 3/10 The Famous Five Questions and Interview Conclusion Latka runs through the Famous Five rapid-fire questions, teasing Cornish when he names Adobe as a favorite tool since Adobe is also a client. Latka concludes with a summary of Richter's financial and business profile.0:20–4:35 · Guest teaching 1/10 Promotion: Subscribing to Conversations with Nathan Latka The segment includes the standard subscription promo read followed by standard introductory background questions. Latka inquires how Cornish broke into enterprise accounts, and Cornish details cold calling and bootstrapping.4:36–10:16 · Guest teaching 2/10 Revenue Breakdown, AT&T Case Study, and Contract Strategy Latka drills down into the math behind Richter's revenue and contract sizes, catching a discrepancy when Cornish discusses moving downstream versus expanding enterprise contracts. Latka presses Cornish until Cornish clarifies that he misspoke and is actually focusing on higher-value enterprise deals.10:16–12:31 · Guest teaching 5/10 Creative Team Structure and Video Production Philosophy Latka introduces his own A/B testing experience where raw smartphone video outperformed high-budget productions. Cornish politely reframes the premise, educating Latka that Fortune 500 B2B enterprise communications require polish, precision, and strategic messaging rather than quick social content.12:31–14:33 · Guest teaching 1/10 Building an Agency Empire and Entrepreneurial Lineage Latka asks Cornish about his ambition to build an agency empire versus a software product, followed by an exploration of Cornish's family business background and a mid-roll sponsorship read.14:35–19:48 · Guest teaching 2/10 Parental Influence, Problem-Solving, and Teaching Children The conversation shifts to personal themes around parenting and instilling entrepreneurial confidence. Latka pushes Cornish to move past abstract advice and give concrete examples of what he tells his children, prompting a plug for Cornish's book and an anecdote about teaching kids problem-solving.19:49–23:50 · Guest teaching 3/10 Agency Financial Metrics, Cash Flow, and Pandemic Resilience After brief banter about Super Coffee, Latka asks how agency owners should balance fixed costs with contract flow. Cornish explains his trailing 12-week income ratios and how aggressive outbound selling allowed them to pay off $300k of debt during the pandemic.23:50–25:58 · Guest teaching 1/10 The Famous Five Questions and Interview Conclusion Latka runs through the Famous Five rapid-fire questions, teasing Cornish when he names Adobe as a favorite tool since Adobe is also a client. Latka concludes with a summary of Richter's financial and business profile.0:20–4:35 · Guest disagreement 0/10 Promotion: Subscribing to Conversations with Nathan Latka The segment includes the standard subscription promo read followed by standard introductory background questions. Latka inquires how Cornish broke into enterprise accounts, and Cornish details cold calling and bootstrapping.4:36–10:16 · Guest disagreement 1/10 Revenue Breakdown, AT&T Case Study, and Contract Strategy Latka drills down into the math behind Richter's revenue and contract sizes, catching a discrepancy when Cornish discusses moving downstream versus expanding enterprise contracts. Latka presses Cornish until Cornish clarifies that he misspoke and is actually focusing on higher-value enterprise deals.10:16–12:31 · Guest disagreement 2/10 Creative Team Structure and Video Production Philosophy Latka introduces his own A/B testing experience where raw smartphone video outperformed high-budget productions. Cornish politely reframes the premise, educating Latka that Fortune 500 B2B enterprise communications require polish, precision, and strategic messaging rather than quick social content.12:31–14:33 · Guest disagreement 0/10 Building an Agency Empire and Entrepreneurial Lineage Latka asks Cornish about his ambition to build an agency empire versus a software product, followed by an exploration of Cornish's family business background and a mid-roll sponsorship read.14:35–19:48 · Guest disagreement 1/10 Parental Influence, Problem-Solving, and Teaching Children The conversation shifts to personal themes around parenting and instilling entrepreneurial confidence. Latka pushes Cornish to move past abstract advice and give concrete examples of what he tells his children, prompting a plug for Cornish's book and an anecdote about teaching kids problem-solving.19:49–23:50 · Guest disagreement 0/10 Agency Financial Metrics, Cash Flow, and Pandemic Resilience After brief banter about Super Coffee, Latka asks how agency owners should balance fixed costs with contract flow. Cornish explains his trailing 12-week income ratios and how aggressive outbound selling allowed them to pay off $300k of debt during the pandemic.23:50–25:58 · Guest disagreement 1/10 The Famous Five Questions and Interview Conclusion Latka runs through the Famous Five rapid-fire questions, teasing Cornish when he names Adobe as a favorite tool since Adobe is also a client. Latka concludes with a summary of Richter's financial and business profile.0:20–4:35 · Nathan pushing back 1/10 Promotion: Subscribing to Conversations with Nathan Latka The segment includes the standard subscription promo read followed by standard introductory background questions. Latka inquires how Cornish broke into enterprise accounts, and Cornish details cold calling and bootstrapping.4:36–10:16 · Nathan pushing back 5/10 Revenue Breakdown, AT&T Case Study, and Contract Strategy Latka drills down into the math behind Richter's revenue and contract sizes, catching a discrepancy when Cornish discusses moving downstream versus expanding enterprise contracts. Latka presses Cornish until Cornish clarifies that he misspoke and is actually focusing on higher-value enterprise deals.10:16–12:31 · Nathan pushing back 3/10 Creative Team Structure and Video Production Philosophy Latka introduces his own A/B testing experience where raw smartphone video outperformed high-budget productions. Cornish politely reframes the premise, educating Latka that Fortune 500 B2B enterprise communications require polish, precision, and strategic messaging rather than quick social content.12:31–14:33 · Nathan pushing back 1/10 Building an Agency Empire and Entrepreneurial Lineage Latka asks Cornish about his ambition to build an agency empire versus a software product, followed by an exploration of Cornish's family business background and a mid-roll sponsorship read.14:35–19:48 · Nathan pushing back 2/10 Parental Influence, Problem-Solving, and Teaching Children The conversation shifts to personal themes around parenting and instilling entrepreneurial confidence. Latka pushes Cornish to move past abstract advice and give concrete examples of what he tells his children, prompting a plug for Cornish's book and an anecdote about teaching kids problem-solving.19:49–23:50 · Nathan pushing back 1/10 Agency Financial Metrics, Cash Flow, and Pandemic Resilience After brief banter about Super Coffee, Latka asks how agency owners should balance fixed costs with contract flow. Cornish explains his trailing 12-week income ratios and how aggressive outbound selling allowed them to pay off $300k of debt during the pandemic.23:50–25:58 · Nathan pushing back 2/10 The Famous Five Questions and Interview Conclusion Latka runs through the Famous Five rapid-fire questions, teasing Cornish when he names Adobe as a favorite tool since Adobe is also a client. Latka concludes with a summary of Richter's financial and business profile.

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

0:00 · Nathan 57.8% · guest 42.2%0:00 · Nathan 57.8% · guest 42.2%3:00 · Nathan 24.7% · guest 75.3%3:00 · Nathan 24.7% · guest 75.3%6:00 · Nathan 19.7% · guest 80.3%6:00 · Nathan 19.7% · guest 80.3%9:00 · Nathan 34.3% · guest 65.7%9:00 · Nathan 34.3% · guest 65.7%12:00 · Nathan 49.7% · guest 50.3%12:00 · Nathan 49.7% · guest 50.3%15:00 · Nathan 25.2% · guest 74.8%15:00 · Nathan 25.2% · guest 74.8%18:00 · Nathan 51.4% · guest 48.6%18:00 · Nathan 51.4% · guest 48.6%21:00 · Nathan 30% · guest 70%21:00 · Nathan 30% · guest 70%24:00 · Nathan 56.1% · guest 43.9%24:00 · Nathan 56.1% · guest 43.9%
Sharpest disagreement ▶ 11:25 Cornish rejects the cheap vs. polished video generalization

Cornish respectfully pushes back against Latka's claim that raw phone videos outperform polished work by differentiating enterprise sales enablement from generic marketing.

 Hardest push from Nathan ▶ 9:48 Latka challenges Cornish on conflicting customer metrics

Latka refuses Cornish's contradictory phrasing about expanding customer numbers while supposedly focusing more, prompting Cornish to admit he misspoke.

 Biggest teaching moment ▶ 11:55 Cornish explains clients buy communication rather than video

Cornish educates Latka on enterprise buyer psychology, arguing that video is merely the medium while the core deliverable is aligning with corporate messaging.

 Nathan holds their own ▶ 11:00 Latka challenges video production value with A/B testing data

Latka cites his own direct marketing experiments comparing $20,000 produced videos against low-cost cell phone footage to challenge agency assumptions.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Promotion: Subscribing to Conversations with Nathan Latka 2101 The segment includes the standard subscription promo read followed by standard introductory background questions. Latka inquires how Cornish broke into enterprise accounts, and Cornish details cold calling and bootstrapping.
Revenue Breakdown, AT&T Case Study, and Contract Strategy 5215 Latka drills down into the math behind Richter's revenue and contract sizes, catching a discrepancy when Cornish discusses moving downstream versus expanding enterprise contracts. Latka presses Cornish until Cornish clarifies that he misspoke and is actually focusing on higher-value enterprise deals.
Creative Team Structure and Video Production Philosophy 5523 Latka introduces his own A/B testing experience where raw smartphone video outperformed high-budget productions. Cornish politely reframes the premise, educating Latka that Fortune 500 B2B enterprise communications require polish, precision, and strategic messaging rather than quick social content.
Building an Agency Empire and Entrepreneurial Lineage 2101 Latka asks Cornish about his ambition to build an agency empire versus a software product, followed by an exploration of Cornish's family business background and a mid-roll sponsorship read.
Parental Influence, Problem-Solving, and Teaching Children 3212 The conversation shifts to personal themes around parenting and instilling entrepreneurial confidence. Latka pushes Cornish to move past abstract advice and give concrete examples of what he tells his children, prompting a plug for Cornish's book and an anecdote about teaching kids problem-solving.
Agency Financial Metrics, Cash Flow, and Pandemic Resilience 4301 After brief banter about Super Coffee, Latka asks how agency owners should balance fixed costs with contract flow. Cornish explains his trailing 12-week income ratios and how aggressive outbound selling allowed them to pay off $300k of debt during the pandemic.
The Famous Five Questions and Interview Conclusion 3112 Latka runs through the Famous Five rapid-fire questions, teasing Cornish when he names Adobe as a favorite tool since Adobe is also a client. Latka concludes with a summary of Richter's financial and business profile.

Statements from this episode (11)

Disclosure
Cornish: Richter secured SAP and HP as early enterprise clients
“To get the initial logos, I remember getting SAP and getting HP and sort of getting traction there, but it was very hard initially and we had to really aggressively sell and kind of fly under the radar on some companies like maybe win a little sale and then ge…”
Robert Cornish Oct 6, 2020 ▶ 2:15
Assertion Not checkable as stated
Cornish grew up in a business his father scaled past $1B
“I did grow up in a business that you know, my dad helped build to a significant size over a billion dollars.”
Robert Cornish Oct 6, 2020 ▶ 3:20
Prediction Not checkable as stated
Cornish: Richter expects just under $5M in 2020 revenue
“Just under five this year.”
Robert Cornish Oct 6, 2020 ▶ 5:01
Insight
Cornish: Call reluctance stalls B2B sales reps at three follow-ups
“We found that on average people follow up about three times, but it takes a team plus contacts to actually close a deal. So there's a big discrepancy between those two. And you start looking and go, why are they not following up? And you start finding that the…”
Robert Cornish Oct 6, 2020 ▶ 7:31
Disclosure
Cornish: Richter aims to transition to 80% enterprise contracts
“You know, we want to have 80% contracts and 20% transactional. Right now we still have probably 80% transactional and moving in and 20% contract.”
Robert Cornish Oct 6, 2020 ▶ 8:56
Disclosure
Cornish: Richter employs 35 creative specialists and zero software engineers
“About 35 total right now. ... No engineers really talented, creative people. So for us, you know, we're, we have animators, we have videographers, we have audio engineers, we have copywriters and voiceover talent, all that kind of stuff. We're not doing any bu…”
Robert Cornish Oct 6, 2020 ▶ 10:22
Insight
Cornish: Enterprise clients buy strategic communication rather than video production
“I don't believe that clients are coming to us for video. I believe they're coming to us for communication. Our job is to actually understand who's watching this, why they're watching this, what are the pain points, how to get in their head and how to move peop…”
Robert Cornish Oct 6, 2020 ▶ 12:15
Disclosure
Cornish aims to build a billion-dollar agency conglomerate over software
“I want to do the first thing you said. I've always wanted to do the first thing you said.”
Robert Cornish Oct 6, 2020 ▶ 12:51
Prediction Held up
Latka: Super Coffee will surpass $25M in sales in 2020
“You know, they're going to break, I mean, they're going to break like twenty five million dollars in sales this year.”
Nathan Latka Oct 6, 2020 ▶ 20:58
Assertion Not checkable as stated
Cornish: Richter was slightly profitable on $3.5M in 2019 revenue
“We profit a little bit last year.”
Robert Cornish Oct 6, 2020 ▶ 22:23
Disclosure
Cornish: Richter paid off nearly all its $300K debt in 2020
“We had you know, we had about 300,000 dollars in just some debts at the beginning of the year, which we've paid off almost entirely from February until now. And actually, I had to buy out my partner last year, so that was part of that.”
Robert Cornish Oct 6, 2020 ▶ 23:18
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