Weiss partnered with his technical co-founder on a 50/50 equity split
Scott Weiss · 1736 He'll Never Win Unless He Shuts Down Agency · Apr 25, 2020 · at 5:43
Scott Weiss is the founder of ReferraGig. He explains how he onboarded a technical co-founder to rewrite the freelance-built MVP.
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“About two and a half years ago, him and I partnered up, and he came on board, fifty-fifty.”
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ReferraGig loses customers to faster-innovating VC-funded rivals
“When you look at the companies that are in our space that have raised money they're innovating at a much faster rate than us. We do lose customers to them because in many cases we can't keep up with their development cycles”
Weiss is hesitant to go full-time on ReferraGig
“What I'm trying to do is replace myself with the software, but yet here I am not really willing to go all in with that.”
Tech headhunters earn 20-30% fees, yielding $25K-$50K profit per hire
“It ranges between 20 and 30%. So that's a lot of money, right? That's, you know, anywhere from 25 to 50 grand cash. I mean, there's no expense to it because there's no cost of goods other than time and maybe whatever I'm paying for LinkedIn recruiter.”
ReferraGig prices its software between $200 and $1,500 monthly
“So on average per month, it'll go anywhere from. 200 dollars a month for a real small business up to, you know, a 1015 hundred dollars a month for a larger size company.”