Sramana Mitra: Let’s go to the beginning of where you started the business. I’d like to understand how you built the company step by step. You said you started the company by actually delivering your own course in the beginning. How, then, did you do that business of delivering your own course? Tell us a
Sramana Mitra: What is the business model? How do people pay you? Is that a SaaS kind of a business model? Brad Lea: Exactly, Software-as-a-Service. Usually, we will charge a little bit to get it set up and created. Then depending on the license type that you have, it will cost either X amount per
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Brad knows how to sell. Read how he turned that skill in to a $20M revenue business with very little formal education. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind
Sramana Mitra: What about the New Zealand team? Jason Westland: I still have them. They’re our development team. If you can imagine going back to 2014, it was just me and the development team. Now, I have a team of customer support and marketing people here in Austin. The development team in New Zealand has
Janet Kosloff: In the pharma industry, they tend to do these very long tracking surveys. They’ll do them quarterly or maybe every other month. They’re very expensive. Brands could spend many millions of dollars on these tracking surveys. They take a long time to execute each wave and it takes a long time to analyze
Sramana Mitra: In 2016, have you raised more money? Jon Ellis: We’re about to. We’re just raising now. We opened on Tuesday. We received a commitment from shareholders already for $3 million, and we intend to raise $7 million. Sramana Mitra: What does that mean? Is this some sort of a stock exchange in Australia?
Sramana Mitra: In the 2012 to 2014 period, you were operating with a very healthy profit margin. How many people were in the company and how did it grow? Jason Westland: That’s why it was so profitable. We had no marketing team at that time. It was just me. We had two full-time developers. We
Sramana Mitra: A bit of question about your sales cycle. At 2014, you’ve been in the market for a couple of years. You’ve got good reference customers. How did the sales cycle evolve? Janet Kosloff: It definitely got easier to get appointments as we got some recognition and references within companies. If we would get