Insight
Christensen: Customer success quotas turn reps into aggressive sales arms
“We're really careful in giving quota to the customer success because we don't want them to just be like an extension of the sales arm. Like our first core value is, you know, we really care about our customers. We call our customers obsessed. And I know a lot …”
Disclosure
Limble abandoned per-asset pricing due to misaligned incentives
“Yeah, we did actually try that with a per asset model way early on, and that, like, worked to get some early adopters, but we found that it just wasn't, it wasn't as good when it came to trying to like, compare against our other competitors, and also raise the…”
Disclosure
Limble pays AEs 2x MRR pre-quota and 3x MRR post-quota
“So basically the before quota, you get two X MRR. So if you close, you know, 3000, let's say you're fully ramped, you close 3000, that's a 6000 dollar commission check to you. If you get over quota, it's three X MRR.”
Disclosure
Christensen personally guaranteed Limble's SBA loan at prime plus 1.5%
“We did have to personally guarantee, which kind of stinks, but it's, you know, it's really cheap. It's the interest rate is like one and a half plus prime or two and a half plus prime or something like that.”
Disclosure
Limble averages $335 monthly per customer, trending toward $500
“So right now it's about 335 per month, although we're recently trending like the last three months, it's closer to 500.”
Assertion Not checkable as stated
Limble took 2.5 years to land its first $12/month customer
“And so it took about two and a half years to get that first paying customer. They were on the per asset plan. They were a whopping 12 dollars a month.”
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Cold outbound outreach generates 30% of Limble's deals
“So through SEO and today we're still getting the majority through that way. About a year and a half ago we started an outbound arm. And so since then we've made it so that about 30% of our deals come from just like cold outreach.”
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Limble generates approximately $160,000 in monthly recurring revenue
“We're doing about 160 grand a month in revenue right now.”
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Limble added $210,000 in new ARR in a single month
“Like, last month, we added on about 210 K ARR, and so it's ramping up well.”
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Christensen's father invested $150,000 in Limble over 18 months
“Once it started getting some traction and we were starting getting some paying customers, then he did put some cash in and it was about a 150 over probably a year and a half.”
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Limble runs at 7.8% annual dollar churn and 111% net retention
“Our dollar churn is 7.8% annual. And then our net negative churn is a 111.28.”
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Limble's CAC payback is 9.45 months at a $3,000 CAC
“So our CAC based in months is 9.45 and our fully weighted CAC let's use about four K where we're at right now. So we probably spend about 3000, maybe a little bit over 3000 to get a customer.”
Disclosure
Limble secured a $350,000 SBA loan without equity dilution
“We just got our approval to get about 350 K from a local bank through the SBA. And so that's going to help growth. And then we have another, you know, X number of dollars lined up just on debt. So no equity.”
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Limble serves approximately 470 active customers
“We're up to about 470 right now.”
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Limble ended 2017 with roughly $2,800 in MRR
“I think we ended the year at about 2800 MRR in 2017.”
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Limble reached $14,225 in MRR at the end of 2018
“2018, we finished at 14,225.”
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Limble reached roughly $61,000 in MRR by late 2019
“End of 2019, we were at 61 basically 61,000.”
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Limble spends $15,000 to $20,000 per month on content marketing
“We probably spend close to 15 to 20 K a month now on content.”
