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May 27, 2019 · 17m · top-founders

1402 100% Female Owned, Bootstrapped, Marketing Automation Company for SMB's Passes $85k in MRR

Kim Albee · 8m spoken Nathan Latka · 7m spoken
0:00 / 0:00

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

In this episode of The Top Entrepreneurs Podcast, host Nathan Latka interviews Kim Albee, founder of Genoo, exploring how she bootstrapped a 100% female-owned marketing automation platform to $85,000 in monthly recurring revenue with 500 SMB customers and exceptional retention.

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 44.5% of the talking time here. How this is scored →

Nathan as informed peer 3.8 Guest teaching 2.2 Guest disagreement 2.2 Nathan pushing back 3.3
05100:0010:000:00–2:44 · Nathan as informed peer 0/10 Nathan Latka's SaaStock East Conference Promotion Solo promotional announcement and podcast teaser by Nathan Latka with no interactive host-guest dialogue.2:45–6:02 · Nathan as informed peer 5/10 Genoo Platform Overview and Pricing Model Nathan presses Kim to confirm her revenue figures by calculating MRR directly from her customer count and ARPU, overriding her initial hesitation to disclose revenue.6:02–8:07 · Nathan as informed peer 4/10 Strategic Niche Partnerships and Go-To-Market Channels Nathan demands specific partner names and business models rather than generic descriptions, which Kim provides collaboratively.8:07–10:56 · Nathan as informed peer 5/10 Bootstrapping Philosophy, Remote Team, and Low Churn Dynamics Nathan forces Kim to clarify her monthly logo churn metric with a concrete hypothetical, leading to a discussion on long-term retention versus industry churn.10:56–15:45 · Nathan as informed peer 6/10 Year-Over-Year Growth Trajectory and Fully Weighted CAC Kim rejects an acquisition offer benchmark and cites 5-10x SaaS multiples, prompting Nathan to challenge her valuation assumptions based on growth and churn nuances.15:46–17:54 · Nathan as informed peer 3/10 The Famous Five Questions and Episode Conclusion Kim deflects the standard age question playfully, leading Nathan to explain his standard interview premise before closing out the show recap.0:00–2:44 · Guest teaching 0/10 Nathan Latka's SaaStock East Conference Promotion Solo promotional announcement and podcast teaser by Nathan Latka with no interactive host-guest dialogue.2:45–6:02 · Guest teaching 2/10 Genoo Platform Overview and Pricing Model Nathan presses Kim to confirm her revenue figures by calculating MRR directly from her customer count and ARPU, overriding her initial hesitation to disclose revenue.6:02–8:07 · Guest teaching 3/10 Strategic Niche Partnerships and Go-To-Market Channels Nathan demands specific partner names and business models rather than generic descriptions, which Kim provides collaboratively.8:07–10:56 · Guest teaching 4/10 Bootstrapping Philosophy, Remote Team, and Low Churn Dynamics Nathan forces Kim to clarify her monthly logo churn metric with a concrete hypothetical, leading to a discussion on long-term retention versus industry churn.10:56–15:45 · Guest teaching 3/10 Year-Over-Year Growth Trajectory and Fully Weighted CAC Kim rejects an acquisition offer benchmark and cites 5-10x SaaS multiples, prompting Nathan to challenge her valuation assumptions based on growth and churn nuances.15:46–17:54 · Guest teaching 1/10 The Famous Five Questions and Episode Conclusion Kim deflects the standard age question playfully, leading Nathan to explain his standard interview premise before closing out the show recap.0:00–2:44 · Guest disagreement 0/10 Nathan Latka's SaaStock East Conference Promotion Solo promotional announcement and podcast teaser by Nathan Latka with no interactive host-guest dialogue.2:45–6:02 · Guest disagreement 3/10 Genoo Platform Overview and Pricing Model Nathan presses Kim to confirm her revenue figures by calculating MRR directly from her customer count and ARPU, overriding her initial hesitation to disclose revenue.6:02–8:07 · Guest disagreement 1/10 Strategic Niche Partnerships and Go-To-Market Channels Nathan demands specific partner names and business models rather than generic descriptions, which Kim provides collaboratively.8:07–10:56 · Guest disagreement 2/10 Bootstrapping Philosophy, Remote Team, and Low Churn Dynamics Nathan forces Kim to clarify her monthly logo churn metric with a concrete hypothetical, leading to a discussion on long-term retention versus industry churn.10:56–15:45 · Guest disagreement 4/10 Year-Over-Year Growth Trajectory and Fully Weighted CAC Kim rejects an acquisition offer benchmark and cites 5-10x SaaS multiples, prompting Nathan to challenge her valuation assumptions based on growth and churn nuances.15:46–17:54 · Guest disagreement 3/10 The Famous Five Questions and Episode Conclusion Kim deflects the standard age question playfully, leading Nathan to explain his standard interview premise before closing out the show recap.0:00–2:44 · Nathan pushing back 0/10 Nathan Latka's SaaStock East Conference Promotion Solo promotional announcement and podcast teaser by Nathan Latka with no interactive host-guest dialogue.2:45–6:02 · Nathan pushing back 5/10 Genoo Platform Overview and Pricing Model Nathan presses Kim to confirm her revenue figures by calculating MRR directly from her customer count and ARPU, overriding her initial hesitation to disclose revenue.6:02–8:07 · Nathan pushing back 3/10 Strategic Niche Partnerships and Go-To-Market Channels Nathan demands specific partner names and business models rather than generic descriptions, which Kim provides collaboratively.8:07–10:56 · Nathan pushing back 4/10 Bootstrapping Philosophy, Remote Team, and Low Churn Dynamics Nathan forces Kim to clarify her monthly logo churn metric with a concrete hypothetical, leading to a discussion on long-term retention versus industry churn.10:56–15:45 · Nathan pushing back 5/10 Year-Over-Year Growth Trajectory and Fully Weighted CAC Kim rejects an acquisition offer benchmark and cites 5-10x SaaS multiples, prompting Nathan to challenge her valuation assumptions based on growth and churn nuances.15:46–17:54 · Nathan pushing back 3/10 The Famous Five Questions and Episode Conclusion Kim deflects the standard age question playfully, leading Nathan to explain his standard interview premise before closing out the show recap.

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

0:00 · Nathan 99.1% · guest 0.9%0:00 · Nathan 99.1% · guest 0.9%3:00 · Nathan 25.8% · guest 74.2%3:00 · Nathan 25.8% · guest 74.2%6:00 · Nathan 22.4% · guest 77.6%6:00 · Nathan 22.4% · guest 77.6%9:00 · Nathan 26.9% · guest 73.1%9:00 · Nathan 26.9% · guest 73.1%12:00 · Nathan 26.8% · guest 73.2%12:00 · Nathan 26.8% · guest 73.2%15:00 · Nathan 64.5% · guest 35.5%15:00 · Nathan 64.5% · guest 35.5%
Sharpest disagreement ▶ 16:50 Kim pushes back against Nathan's age question

Kim firmly declines Nathan's age inquiry by stating that every woman would mind being asked that question.

 Hardest push from Nathan ▶ 5:43 Nathan refuses to let Kim conceal revenue

When Kim attempts to keep revenue figures close to the vest, Nathan immediately pushes back by demonstrating it is just basic arithmetic from her own stated customer count and pricing.

 Biggest teaching moment ▶ 9:35 Kim explains high churn dynamics in marketing automation

Kim educates Nathan on industry-wide churn patterns in marketing automation, explaining how sales teams often tread water replacing churned accounts.

 Nathan holds their own ▶ 15:15 Nathan nuances SaaS valuation multiples

Nathan counters Kim's blanket 5-10x revenue multiple assertion by demonstrating expertise on how multiples strictly depend on sector, growth rate, and churn profile.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Nathan Latka's SaaStock East Conference Promotion 0000 Solo promotional announcement and podcast teaser by Nathan Latka with no interactive host-guest dialogue.
Genoo Platform Overview and Pricing Model 5235 Nathan presses Kim to confirm her revenue figures by calculating MRR directly from her customer count and ARPU, overriding her initial hesitation to disclose revenue.
Strategic Niche Partnerships and Go-To-Market Channels 4313 Nathan demands specific partner names and business models rather than generic descriptions, which Kim provides collaboratively.
Bootstrapping Philosophy, Remote Team, and Low Churn Dynamics 5424 Nathan forces Kim to clarify her monthly logo churn metric with a concrete hypothetical, leading to a discussion on long-term retention versus industry churn.
Year-Over-Year Growth Trajectory and Fully Weighted CAC 6345 Kim rejects an acquisition offer benchmark and cites 5-10x SaaS multiples, prompting Nathan to challenge her valuation assumptions based on growth and churn nuances.
The Famous Five Questions and Episode Conclusion 3133 Kim deflects the standard age question playfully, leading Nathan to explain his standard interview premise before closing out the show recap.

Statements from this episode (9)

Assertion Not checkable as stated
Albee: Genoo's average customer pays around $170 per month
“Well, if they, an average customer per month probably pays us around a 170, a 170 dollars a month, I would say.”
Kim Albee May 27, 2019 ▶ 4:04
Assertion Not checkable as stated
Albee: Genoo has just under 500 total customers
“Our total customers number probably just under 500.”
Kim Albee May 27, 2019 ▶ 5:25
Disclosure
Albee: Genoo is 100% female-owned, bootstrapped, and profitable
“I'm the only owner, a hundred percent, and we're profitable.”
Kim Albee May 27, 2019 ▶ 8:13
Insight
Albee: High churn prevents marketing automation companies from growing despite strong sales
“So the marketing automation industry has a very, very high churn rate where a lot of marketing automation, I don't know the exact number, but a lot of marketing automation companies they may, their sales teams may hit their numbers, but they don't hit their gr…”
Kim Albee May 27, 2019 ▶ 9:44
Assertion Not checkable as stated
Albee: Genoo's monthly customer churn rate is under 5%
“It's less than five.”
Kim Albee May 27, 2019 ▶ 10:15
Assertion Not checkable as stated
Albee: Genoo customers either churn fast or stay five to seven years
“I would say that for the most part, we keep customers, they either churn out super fast, or we have them for maybe five to seven years.”
Kim Albee May 27, 2019 ▶ 10:34
Disclosure
Albee: Genoo grows via partnerships, BNI networking, and stealth conference attendance
“I mean, there's some inbound, but mostly it's partnerships. We do a couple of conferences, but we do them on the kind of the down low. We don't really have boosts and stuff at conferences, but we make a lot there. And then we do a lot of networking. So things …”
Kim Albee May 27, 2019 ▶ 11:14
Disclosure
Albee: Genoo breaks even on customer acquisition in year one
“Mostly we, I would say where we are given our support model and getting, and things like that, we're maybe close to break even On their first year.”
Kim Albee May 27, 2019 ▶ 11:49
Disclosure
Albee: Genoo's $85k MRR is pure SaaS without professional services included
“Right. On that, there's not. And then professional services are over and above that.”
Kim Albee May 27, 2019 ▶ 13:32
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