Sramana Mitra: Once you made these vital switches, what happened? In terms of revenue, how did you do in 2015? Roy Peleg: We ended with gross revenue of $1.3 million. In the month of December, we generated $185,000. The trajectory was great. We quadrupled the revenue in 2015. Then we took on a few more
Sramana Mitra: What did you learn? Was the threshold one salesperson per state? How were you calculating your expansion strategy? Lane Rankin: Just about every time we would go and meet with the district, we would win a sale. If we have a presentation, 80% of the time we are winning the business. We were growing
Sramana Mitra: Was this was a 3-month acceleration program? Roy Peleg: No, it was a 4-month program. Sramana Mitra: Then you went back to Israel? Roy Peleg: Yes. The business started growing a bit, but not too much. With the feedback that we got and the additional focus on our business model, we gradually added
Sramana Mitra: We are now at the point where you bought some portions of your previous company that you bought to Harcourt. You’re now ready to start off on your own in 2009. What happens next? Lane Rankin: We started over in 2009 with some pieces of a new platform. We had started a new
Sramana Mitra: You were doing this full-time? You didn’t have a full-time or part-time job at this point? Roy Peleg: Right. My sister was looking for a job. I decided to hire her full-time. When she went on her honeymoon, I started to look for someone to replace her and also found our first developer. A
Sramana Mitra: You financed the other company using the resources of the first company? Lane Rankin: Correct. Sramana Mitra: If you look at revenues and stuff, how was the first company doing? What was the trajectory of the second company? Lane Rankin: Our turnover was around $2 million to $3 million in the first company. I
Entrepreneurs are invited to the 340th FREE online 1M/1M roundtable mentoring session on Thursday, February 16, 2017, at 8 a.m. PST/11 a.m. EST/9:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any
Sramana Mitra: Where I would really understand the difference is if you can tell me what you were able to do in terms of CPMs. I’ve had a blog for 10 years, so I know exactly how blog advertising and ad networks have evolved. The CPMs are real shit. If you tell me that what