Publication Date: 2016-07-12
Amanda Newman, who opened her first store in high school. She became a realtor, and went on to create Park Bench - a SaaS business that creates neighborhood-focused websites for realtors who want to connect to their community. She and her partner made $880k in revenue last year and this year they’re shooting for a million.   Famous 5:   Favorite Business Book? – Predictable Revenue What CEO do you follow? — Grant Cardone Favorite online tool? — Unbounce Do you get 8 hours of sleep?— Yes If you could let your 20 year old self know one thing, what would it be? —Take some computer programming and design courses   Time Stamped Show Notes: 01:23 – Nathan’s introduction 02:22 – Park Bench creates neighborhood-focused websites 02:47 – Amanda wanted to create value for the communities that she worked in - so she built a neighborhood website 03:34 – Local businesses put deals and promotions on the website 04:15 – “After the first one, it was easier to create the second one” 04:40 – Amanda sells neighborhood sites to realtors so that they have the opportunity to build relationships 05:20 – Realtors pay between $3000 and $6000 per year 06:15 – “Realtors want to be known as the neighborhood realtor” 06:57 –  Started in 2014 - first-year revenue was $450k 07:11  – Revenue in 2015 was $880k - they’re on track for over $1 million this year 07:30 – 215 unique customers 07:53 – Customer Acquisition Cost? 08:44 – Facebook marketing is paying fantastic dividends 09:20 – 80% of realtors who buy their product buy it on the first call 09:35 – MRR in May is around $70k per month 10:00 – Revenue per user per month is $350 10:25 – Customer Acquisition Cost is around $400 10:50 – Customers sign on for a year - many sign on for a 2nd year as well 11:15 – Around half of realtors dropped out last year - but they’re immediately replaced 12:22 – The average realtor stays around 1.5 years 13:04 – Team of 8 people based in Toronto 13:50 – Park Bench sells directly to real-estate agents 15:20 – “Being bootstrapped, we have to move fast” 15:40 – $70k monthly run rate 15:45 – Connect with Amanda on Linkedin 18:05 – The Famous Five   3 Key Points: Find the customers that fit with you Understand your market and what they want Everything starts with creating value for the people around you Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ 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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