EP 532: $1m Raised, $70k MRR to Record Sales Calls and Coach with ExecVision's Steve Richard

Steve Richard whose mission in life is to help as many sales professionals as possible to become wildly successful. He has been featured in numerous publications including The Harvard Business Review, The Washington Business Journal, and The Washington Post. Outside of work, Steve enjoys scuba diving, skiing, running, and people-watching. He's from Arlington, VA, with his wife Ellen and their 4 kids all under the age of 7.

Famous Five:

• Favorite Book? – RSVP Selling
• What CEO do you follow? – Tony Bates

• Favorite online tool? — Owler
• Do you get 8 hours of sleep?— No
• If you could let your 20-year old self, know one thing, what would it be? – "You got to start with the technology company in the beginning because you're going to create much more impact on people's lives"

Time Stamped Show Notes:

• 01:58 – Nathan introduces Steve to the show
• 02:45 – Steve shares the idea of ExecVision
• 03:17 – ExecVision is a SaaS business
• • 03:20 – There are 50 organizations who are currently using ExecVision
• 03:34 – ExecVision allows you to access, analyze, and share call records
• 04:20 – Average pay per user per year and how it ranges per sales person
• 04:54 – Average MRR
• 05:24 – Sales professionals love ExecVision
• 06:04 – ExecVision has coaching requests for their customers
• 06:37 – Every month there's a high volume of requests for coaching
• 07:13 – ExecVision has voice recognition
• 07:52 – Richard shares how their customers find valuable keywords in ExecVision
• 09:15 – Richard was running Vorsight before ExecVision
• • 09:50 – People pay per meeting
  • 10:02 – Richard used the profitability of Vorsight to fund ExecVision
• 10:15 – Richard has raised capital for ExecVision
• 10:58 – Richard shares what drives them
• 11:38 – They have raised around $1M
• 11:50 – Richard acquired ExecVision in April, 2015
• 12:07 – None of the original people from ExecVision are still working with the company, but they have equity
• 12:26 – Retention is 90% annually
• 13:38 – CAC
• 14:42 – Total head count is 15
• 14:55 – ExecVision is based in Arlington, Virginia
• 15:27 – First year revenue
• 16:08 – Connect with Richard through Call Camp
• 18:30 – The Famous Five

3 Key Points:

• Use your stress to CREATE an idea to relieve that stress.
• Sales professionals who analyze and assess feedback well WILL improve in their field.
• Make something that adds value to people's lives.

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
• Call Camp – Steve's Call Camp Movement website
• Show Notes provided by Mallard Creatives