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712: How To Use a Distribution Channel to Get 200 Customers Paying $15k per Year: Seymour Duncker. He’s the co-founder and CEO of a company called iCharts, the leader in cloud business intelligence and analytics and a seasoned entrepreneur who has been both a consumer and developer of visual analytics. Before founding iCharts, Seymou

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Seymour Duncker. He’s the co-founder and CEO of a company called iCharts, the leader in cloud business intelligence and analytics and a seasoned entrepreneur who has been both a consumer and developer of visual analytics. Before founding iCharts, Seymour assisted SAP’s senior management in driving the company’s product strategy and was an early team member at 2 enterprise software startups before that. Famous Five: Favorite Book? – The Inevitable What CEO do you follow? – Elon Musk Favorite online tool? — NetSuite and Salesforce How many hours of sleep do you get?— 6-7 If you could let your 20-year old self, know one thing, what would it be? – “Spend a little more time outdoors”   Time Stamped Show Notes: 02:26 – Nathan introduces Seymour to the show 03:12 – iCharts is a cloud-based business and intelligence analytics solution platform 03:24 – iCharts is a SaaS model 03:36 – iCharts partners with NetSuite which is a cloud-based EOP 03:48 – NetSuite uses iCharts as an embed BI (Business Intelligence) engine that powers iCharts for NetSuite’s customers 04:05 – iCharts is like an app inside NetSuite 04:55 – iCharts can take any kind of data and visually represent it so that people can interact and analyze the data 05:16 – The analogy of iCharts is like the car's’ navigation system which is separated from the car’s build 05:55 – iCharts considers SaaS businesses as an ecosystem and NetSuite is a large ecosystem 06:05 – iCharts has a mixed business model 06:24 – iCharts is also looking into exclusive partnerships with a SaaS platform to distribute iCharts 06:55 – Pricing starts at $15K per annum depending on the number of users on a platform 07:54 – Seymour arrived in the USA, in 2010 08:10 – Seymour is from Germany 08:50 – When Seymour had an idea for a cloud-based business intelligence platform, he was thinking about where to build it 09:27 – Back then, it was easier to sell in the USA than in Germany 10:10 – Being in California was also a great idea for Seymour’s wife, so they built iCharts in the USA 10:37 – Team size is 60 10:56 – Sales team has 20 people 11:35 – The majority of iCharts’ market 11:49 – iCharts will know the pain points of the users of NetSuite 12:53 – iCharts will already have an idea of the customer’s needs 13:45 – iCharts has around 200 customers 14:04 – iCharts started focusing on various markets 14:25 – iCharts has raised $23M to date but they were initially bootstrapped 15:07 – Churn is around 5-7% 16:20 – CAC 16:32 – iCharts is highly profitable from the initial time they closed a deal 17:04 – There’s an advantage of growing faster and burning yourself as you grow too fast 17:44 – At the end of the day, it’s all about having a high-functioning team that produces quality 18:04 – Average ARR 18:21 – iCharts also offers additional services for their larger customers 20:13 – The Famous Five   3 Key Points: Build your business wherever you’d like to—even if it means leaving your home country. Having a well-functioning team that produces QUALITY will drive your revenue and contribute to the success of your business. Make time for rest and vacations; this will relax and regenerate you.   Resources Mentioned: The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences Klipfolio – Track your business performance across all departments for FREE Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books Show Notes provided by Mallard Creatives

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