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EP 600: Konversai Raises $1.3M Helping 800 Teachers Make Money With Marketplace CEO Sushma Sharma

EP 600: Konversai Raises $1.3M Helping 800 Teachers Make Money With Marketplace CEO Sushma Sharma

FromSaaS Interviews with CEOs, Startups, Founders


EP 600: Konversai Raises $1.3M Helping 800 Teachers Make Money With Marketplace CEO Sushma Sharma

FromSaaS Interviews with CEOs, Startups, Founders

ratings:
Length:
19 minutes
Released:
Mar 16, 2017
Format:
Podcast episode

Description

Sushma Sharma, the CEO of Konversai. She’s a lawyer turned entrepreneur. She has law degrees from The University of Oxford and Columbia University and has worked in two prominent Wall Street law firms and set up a department of practical law at City University of Hong Kong. Sushma has taught thousands of students and seen some the most privileged humans as well as some of the least privileged in her life journey spanning 3 continents to where she has lived and worked over the last 15 years. Konversai was born as her solution to the problems facing mankind today. Famous Five: Favorite Book? – N/A What CEO do you follow? –  N/A Favorite online tool? — Slack Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – “Don’t doubt yourself and just keep doing what you’re doing. There’s a time and place for everything”   Time Stamped Show Notes: 02:30 – Nathan introduces Sushma to the show 03:19 – Konversai is a social conversation platform 03:28 – Sushma shares the types of conversations in Konversai 04:43 – Konversai’s focus is the knowledge from personal experience 04:21 – Sushma’s philosophy is “nothing valuable is free” 04:25 – Konversai has a credit system 04:33 – The charge is .50 cents for one month for creating a box in Konversai 04:54 – “I want to make people feel accountable for what they’re putting up” 05:25 – Sushma shares how they make revenue from a paid conversation 06:09 – Konversai gets 10% from the amount paid 06:36 – The seeker is the one who pays the service 07:02 – There are 2 sides of the business: the seeker and the provider 07:22 – Konversai has under a thousand current providers 08:00 – The number of buyers 08:19 – Sushma’s target was to get the providers as well as the buyers, too 08:40 – The traction has been quite slow 09:21 – Sushma explains why they have to use Stripe 09:25 – Konversai is a global company and the currency has to be considered 10:02 – Some users are quite hesitant to fill out the Stripe sign-up form 11:10 – Konversai is only 3 months old 11:40 – Konversai has raised $1.3M in a seed round, in November 12:20 – It is a convertible note/safe 12:42 – Average order value 13:30 – Current revenue 13:46 – “It is growing every month” 15:21 – The Famous Five   3 Key Points: Nothing valuable is free. The way you win is by doing things consistently. Don’t doubt yourself and keep doing what you’re doing—there’s a time and place for everything.   Resources Mentioned: Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal 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. 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 Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW Show Notes provided by Mallard Creatives
Released:
Mar 16, 2017
Format:
Podcast episode

Titles in the series (100)

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon