Referizer retained all clients during COVID-19 by offering free accounts
Andrei Spivak (Andrei Spivovic) · How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK · Apr 19, 2021 · at 16:06
Andrei Spivak describes how Referizer avoided layoffs and client churn during the COVID-19 pandemic.
0:00 / 0:13
720p mp4 · rendered on demand · StarZero watermark
“I mean, luckily we didn't lose a single client, a single employee. Andrei Spivak (Andrei Spivovic): We didn't lose clients. Andrei Spivak (Andrei Spivovic): We just lost the revenue. Andrei Spivak (Andrei Spivovic): We gave them free accounts until they recover. Andrei Spivak (Andrei Spivovic): no employee was fired. Andrei Spivak (Andrei Spivovic): Everybody take, took the same cut. Andrei Spivak (Andrei Spivovic): Nobody quit.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Andrei Spivak (Andrei Spivovic)
Referizer operates 100% commission-only sales with zero base pay
“Whole sales system is performance based, hundred percent, no base pay, right? No overhead. The half of the setup fee, that's 500 bucks, goes to appointment setter that sets up the demo. Plus, we give them 10% of residual, right? Then second half goes to the cl…”
Spivak: Early-stage startup valuation scales from $1M idea to $3M revenue
“If you have idea and somebody else invest money, it's like a million dollars worth. If you have a product that's running, you have no revenue, it's two million. If you already have a revenue, clients are paying for it. It's three million.”
Referizer pays all team members 80% cash and 20% equity
“Everybody in the company is paid 20% with a stake of, you know, 80% cash, 20% equity.”
Referizer cold calls roughly 20,000 businesses every week
“We are calling about 20,000 businesses every week.”