The Ledger
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Austin claims micro-SMB SaaS churn is driven by poor entrepreneurial skills
“I realized that a lot of our churn was because of micro SMB, you know, entrepreneurs not being good entrepreneurs. So we had to fix the mindset of the customer coming into the gate about business, not really about our product.”
Austin claims real estate software competitors face 9% to 18% monthly churn
“I think a lot of people in our space, some of our competing products and others that are similar in our space you know, there's floating around, you know, nine or if not 17, 18%.”
Austin says REI SIFT generates $220,000 monthly revenue, including $140,000 in MRR
“MRR wise, one 40, but there was about another 60 to 80,000 or so. It was like 220,000 last month we did total.”
Austin claims REI SIFT cut monthly churn from 11% to 5%
“We've really went from about, you know, 10, 11% churn down into that, that five range. And sometimes we get that six percent, but that's monthly.”
Austin generated $2,500 MRR from a YouTube video before building any product
“Our, we pre-launched and I did a YouTube video and ended up getting like 50 customers that paid us before there was any product. And so that got us to about 2500 or so MRR.”
Tyler Austin states REI SIFT has approximately 1,300 active customers
“Active customers about 1300.”
Austin shares that REI SIFT incurs roughly $60,000 in monthly company expenses
“Our total company expenses monthly is about 60,000.”
Austin provides every REI SIFT employee with a $5,000 home office budget
“Gave everybody a tech budget now too, as well, because we didn't have that originally. So everybody has a 5000 dollar tech budget that they can use for their home offices and everything else.”
Austin claims REI SIFT reached $2.4M ARR with zero formal marketing spend
“We are looking to hire a marketing person right now because we've done zero marketing to date, you know?”
Austin says REI SIFT's average revenue per user is $100 monthly
“Oh, yeah, yeah. ARPU is about a hundred bucks a month.”
Austin invests 40% of founder distributions in real estate and 5% in crypto
“I put a lot of money in whole life policies now index funds, regular stock market, you know, five percent into crypto. And then And so I have a whole diversification that I like to try to do, but most of it's about 40% of my revenue goes into real estate.”