The Ledger
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Founders rarely have more than 50 productive hours weekly per company
“And oftentimes I don't think there are more than really like 40 or 50 hours of productive hours per week for a single company. And so I don't actually need to sleep that much. So I have a lot of extra hours that I can just divide between multiple things.”
Enplug powers all office screens across WeWork locations
“That's all us. All the WeWork screens you see, we power those screens we love. We work as a client.”
SMB clients take just as long to close as large enterprises
“So for the smaller businesses, they actually typically take just as much time to close the larger businesses.”
Liu advises founders against stacking multiple unconverted rolling notes
“Which is tricky, and I would not recommend it for other folks, which is why when I raised my money for the biotech company afterwards, we only took in one investor.”
The average Enplug customer pays $400 per month
“Typically our average customer is paying us 400 dollars per month.”
Enplug operates with 100% inbound sales and zero outbound
“Everything we do is inbound. So we actually don't even do external sales call. All of our sales folks are inside sales.”
Enplug has raised $5 million in total capital
“We've raised money, so we've raised a total of five million dollars.”
Enplug operates franchise offices in Brazil, Australia, Japan, and the UK
“So we have offices in Sao Paulo, Brazil Melbourne, Australia, Tokyo, Japan, and UK.”
Enplug provides white-label branding for clients like WeWork and Marriott
“Cause a lot of our customers want to have these enterprise features that are, you know, instead of saying powered by in plug with most of our screens say, you can have the option of saying, you know, powered by we work or powered by Marriott.”
Enplug reaches over 1,000 direct software customers
“Yeah, so we have over a thousand companies using our software.”
Enplug spends roughly $500 monthly on Google AdWords
“So we spend maybe only like now, 500 dollars on Google AdWords per month.”
Enplug's fully weighted customer acquisition cost is around $1,100
“So the CAC ends up being around 1100 dollars per customer, new customer.”
Enplug reached cash-flow positive in 2016 with a founder-only board
“So it's kind of interesting because so we raised this one round of funding and then we became cashflow positive two years ago. And so the board is actually just myself and my two co-founders.”