Assertion certainty 4/5 debate potential 1/5

Steele: All Series Code contracts are ongoing recurring retainers

John Steele · "He Hit $1m in Revenue Helping SaaS Founders Build MVP's " · Jun 13, 2020 · at 12:55

Series Code founder John Steele explains the structure of the agency's client contracts to Nathan Latka.

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“We don't have any actually one times right now. Everything is on a recurring ongoing. So the contracts are, the statement of work is ongoing work until you tell us to stop. And that's how all of our contracts are arranged right now.”

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More from John Steele

Disclosure
Series Code takes uncapped SAFEs to avoid limiting future fundraising rounds
“So we don't put a cap. We believe we'll take a smaller piece of a larger pie. We don't want to, and caps usually turn into limits for future rounds. We don't want to get into that game. We'll let people grow their company as large as they can.”
John Steele Jun 13, 2020 ▶ 8:42 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
Disclosure
Steele: Series Code offers 50/50 cash-equity splits at $42 per hour
“Our publish rate is 84 dollars an hour, but we'll do a 50 50 split. So you can get the cash portion that you have to pay down to 42 dollars an hour, which is usually at or under what you're going to have to pay anybody else. And for that, you get a team leader…”
John Steele Jun 13, 2020 ▶ 5:59 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
Insight
Steele: SaaS web MVPs typically cost $50,000 and launch in 90 days
“SaaS web ops, I, I've seen them out in three months. You know, oftentimes you can have an MVP to that first dollar in, in, you know, in three months, 90 days. That's typically in the range of 50,000.”
John Steele Jun 13, 2020 ▶ 7:35 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
Assertion Not checkable as stated
Steele: Series Code served 10 customers since launch with only one churn
“We've had 10 customers since we started three years ago. Only one has left.”
John Steele Jun 13, 2020 ▶ 12:01 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
Assertion Not checkable as stated
Steele: Series Code generated $85,000 in monthly revenue in December
“So December was at 85,000.”
John Steele Jun 13, 2020 ▶ 12:33 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
Disclosure
Series Code offers 18% cash bridge pricing for cash-strapped founders
“We'll call it a bridge time where we'll go down to 18% in cash. And the rest on equity. Don't tell anybody this, but we'll usually do that to help people get through a tough time.”
John Steele Jun 13, 2020 ▶ 13:32 "He Hit $1m in Revenue Helping SaaS Founders Build MVP's "
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