Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 6)

Sramana Mitra: How did you stimulate that? Were these inbound leads or did you actually go after enterprise clients?

Hugh Massie: Both. There were inbound leads. People became aware that we existed. Because what we have done has been leading edge, it’s only now that these bigger firms are starting to having a goals-based financial planning model. What I’m finding more commonplace is request for proposals. That didn’t exist until the last year or so. It was all very organic. These firms >>>

Thought Leaders in Healthcare IT: Inder Singh, CEO of Kinsa Health (Part 1)

This is a very cool story of an intelligent thermometer with far-reaching consequences. Absolutely fascinating!

Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Kinsa.

Inder Singh: I am the Founder and CEO of Kinsa. I started the company about five years ago. Kinsa has reimagined the thermometer, which is the first product parents turn to when a child falls ill. We’ve turned it into a health support system. We’ve done that for a much bigger reason. Our mission is to help curb the spread of an illness by understanding where and when it starts and helping to respond to it early. >>>

Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 5)

Sramana Mitra: What did you price it at?

Hugh Massie: There are three pricing levels. The bottom one is $1,500 a year. The top one is $3,995 a year depending on what components of the system they buy.

Sramana Mitra: What was the mix of customers? Were you still selling largely to the small individual advisors or were you now selling to the larger financial institutions? >>>

Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 4)

Sramana Mitra: How long did it take you to reach a million dollars in revenue?

Hugh Massie: We were about two years into it before we got to that level.

Sramana Mitra: That was still based on the product sales model, right?

Hugh Massie: Yes.

Sramana Mitra: What was the next major strategic thing that you did to grow the business? >>>

Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 3)

Sramana Mitra: Whom are you selling to? Are you selling to financial advisors?

Hugh Massie: We sell a subscription package to financial advisors. We have a SaaS revenue-based model.

Sramana Mitra: Got it. What is the source of the data based on which you’re developing these models?

Hugh Massie: We have built psychometric systems using research techniques that drive the outcome. If somebody answers from three words put together – most like and least like – that will give us a behavioral insight about them. We have our own recipe >>>

Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 2)

Sramana Mitra: When you decided that this was the mission around which you were going to create an offering, what did you decide to do? What was the product or service? What format did it take?

Hugh Massie: I realized that it needed to be a product that was scalable. It could be done by any person in the world regardless of their age, race, culture, or belief systems. That meant two things. It needed to be a very good technology system. Two, from a human behavior point of view, it needed to be validated. I needed to develop from the outputs that we needed to know about a >>>

Bootstrapping to $10M+ From Australia: Financial DNA CEO Hugh Massie (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Wonderful story of yet another Australian founder who has diligently scaled to $10M+ in revenue.

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 of background?

Hugh Massie: I was born in Sydney, Australia. I was privately-educated at a very good private school. When I finished that, I did a degree in Commerce and Economics at the University of New South Wales. Following that, I became a Chartered >>>

Thought Leaders in Cloud Computing: Sash Sunkara, CEO of Rackware (Part 3)

Sramana Mitra: What trends are you picking up from your customer base?

Sash Sunkara: There’s some immediate problems that enterprises are trying to solve. One of the biggest issues is security. I think the clouds have addressed that. They have the newest technologies. These are new data centers with the latest in encryption management. With current data centers, these data centers are aging. The software is aging. They’re finding that, “I’m probably better off going there.” >>>