Disclosure
Baird Hall exclusively hires contractors who are building their own side startups
“Outside of the equity partners. We don't hire employees. We only hire contractors. And something we really like to do is we actually like to hire contractors that are working on their own entrepreneurial ideas and they work for us. And we kind of help teach th…”
Insight
Baird Hall advises using cold emails strictly to ask permission to sell
“So my approach for cold email is I keep the initial outreach very short and I usually try to start with an opening question that I All I'm trying to do is invite a conversation. Like I'm not even trying to get them to do anything in that first email. All I'm r…”
Insight
Baird Hall notes audiogram tool SEO fails due to medical keyword overlap
“And I think that's because it's hard for people to articulate what these types of videos are because they're kind of hard to define. Audiogram is like the best kind of term that's come up, but The average person doesn't really know what an audiogram is or what…”
Assertion Not checkable as stated
Baird Hall claims Wavve maintains roughly 70% monthly profit margins
“But we are maniacal about our profit margins and we sit around 70% for monthly profit margins.”
Disclosure
Baird Hall distributes maximum cash from Wavve instead of reinvesting in product
“We distribute as much cash as we can. I mean as far as wave goes, we're not really seeing any major product development right now to reinvest into. The product's pretty mature.”
Disclosure
Baird Hall aims to exit his SaaS businesses at $500k to $2M
“So I think we are in that kind of, you know, 500 K to two million ARR sweet spot that we like to work in. And we haven't had our first exit yet, but I'm assuming that's kind of, I mean, that's probably going to be the goal. I don't think we're going to want to…”
Disclosure
Baird Hall spins every new SaaS product onto a separate cap table
“Any new products that we create, we do readjust with a new cap table because we want partners, you know, there were times you know, with subtitle, for example, there were People that previous partners that just couldn't take the risk to start a new company. So…”
Assertion Supported
Baird Hall says AWS video generation and transcription costs have plunged
“The transcription cost, it's really gotten more efficient over the last couple years. So between that and just video generation through AWS's tools has gotten a lot cheaper.”
Assertion Not checkable as stated
Baird Hall says Wavve reached 9,000 active paying customers by August 2020
“We've got let's see, active subscribers should be it's nine, 9000 active customers right now.”
Assertion Not checkable as stated
Baird Hall reveals Wavve's average revenue per user is exactly $12.63
“It's SaaS based on usage. The lowest price is 10 dollars and it goes up to 60. But our average revenue per user is 1263 just, you know, 12 and a half bucks.”
Assertion Not checkable as stated
Baird Hall confirms Wavve is generating $115,000 in monthly recurring revenue
“Yeah. A 115. That's what we're at right now.”
Disclosure
Baird Hall built Wavve to $115k MRR on $2,000 total initial funding
“Yep. All bootstrapped. We haven't raised any money. We all put, my co-founder and I put a thousand bucks in both. And have just been building it that way.”
Disclosure
Baird Hall scraped podcast RSS feeds to cold-email Wavve's first customers
“Nick is my technical co-founder and he built me this we use the iTunes API to give me a little search dashboard. So I'd go on Twitter and I would try and find people that are promoting their new episode, ideally like their first or second episode. I'd look for…”
Assertion Not checkable as stated
Baird Hall claims Wavve maintains a 7% to 9% free-to-paid conversion rate
“And we have our conversion rates around seven to nine percent. So we have a lot of volume coming in for that type of conversion rate to sustain growth.”
Assertion Not checkable as stated
Baird Hall estimates Wavve adds 800 to 1,000 new paying customers monthly
“More like a thousand. So probably have to work back away from there between like 800 and a thousand new customers. So those numbers are probably a little, little low on the conversion side.”
Assertion Not checkable as stated
Baird Hall notes Wavve doubled monthly revenue from $51,000 in one year
“A year ago we were at 51 thousand. So we've pretty much doubled in the last in the last 12 months.”
Assertion Not checkable as stated
Baird Hall reports Wavve's monthly gross churn is between 9% and 11%
“Between nine and 11%.
It bounces around quite a bit seasonally, but so
yeah,
it's pretty high.
We're in that prosumer area not quite consumer, but not B to B either with podcasters.”
Assertion Not checkable as stated
Baird Hall claims Wavve achieves a 40% return on Google search ads
“Well, I know we're paid, you know, we do a lot of paid search and Google ad search
and we get a 40% return on ad spend for that.”
