EP 499: GetSignEasy Passes $200k MRR and 130k Customers To Help Sign Documents withCEO Sunil Patro

Sunil Patro, founder of SignEasy, a technologist, product thinker and entrepreneur. He has a decade of experience as a member of multiple early stage product team at Microsoft, Juniper Networks and Tokbox. Putting enterprise communication apps to carrier great routing system to consumer focused video conferencing software. After facing many problems to sign an important job offer while traveling in Mexico, he was inspired to build a product that could solve this hindrance. Since bootstrapping SignEasy in 2010, he led SignEasy to a growing and profitable company that putting 3M downloads with a 5-star rating in over 150 countries, ranked 1 of the top 15 apps and in top 100 downloaded apps for business including Apple's Best New Apps and Editor Choice Picks.

Famous Five:

• Favorite Book? – Crucial Conversations
• What CEO do you follow? – Jason Fried

• Favorite online tool? — Slack
• Do you get 8 hours of sleep?— Not everyday
• If you could let your 20-year old self, know one thing, what would it be? – "Just focus on being part of a great team and focus on learning things rapidly and just have an experience. Find the things you enjoy the most at work"

Time Stamped Show Notes:

• 01:32 – Nathan introduces Sunil to the show
• 02:33 – SignEasy is a cloud-based easy to use app
• • 02:50 – SignEasy allows users to be completely paperless
• 03:00 – SignEasy is a SaaS model and has a free trial for 14 days
• • 03:12 – Pay-as-you-go is also available
  • 03:17 – Businesses can subscribe to pro and premium plans
• 03:34 – Sunil started coding SignEasy in early 2010 and launched around July 2010
• 03:35 – First year revenue
• 04:02 – Current number of customers in 2016
• • 04:20 – 40-45% are on subscriptions and the rest are on one-time payment
• 04:33 – Average monthly RPU is $ 4 – 5 for pro and 80-90% are pro subscriptions
• 05:09 – Average monthly recurring revenue for SignEasy
• • 05:58 – The difference of their payment plans before and now and how it affects their MRR
• 06:41 – SignEasy has grown high double digit over the last few years
• 07:07 – SignEasy is totally bootstrapped
• 07:25 – Team size
• 08:00 – Sunil is based in the bay area
• 08:52 – Gross monthly customer churn
• 09:02 – SignEasy is focused on SMB
• 09:45 – Customers can only pay SignEasy annually
• 10:35 – Lifetime value
• 10:46 – SignEasy hasn't done paid user acquisition yet
• 10:55 – Almost 100% of SignEasy users are inbound based or app store driven
• 11:57 – Sunil shares how they are reaching high number of downloads in app store
• • 12:10 – SignEasy has been in the app store for 6 years
  • 12:30 – There are many factors that app store considers
  • 12:43 – SignEasy has been using keywords for app store
• 14:10 – SignEasy gets 60K downloads a month from app store
• • 14:35 – In iOS, the conversion from free to paid users is 5-6%
  • 14:44 – In Android, the conversion from free to paid users is half of the iOS
• 14:50 – The free trial is either 14 days or limited to 3 documents
• • 15:15 – SignEasy's paid features
• 15:39 – SignEasy just launched a new feature wherein a user can send a document to sign to multiple people remotely and they can establish a work flow
• 16:00 – Sunil's philosophy
• 17:10 – Nathan made a mock offer of $ 15M and Sunil is open to it
• 17:47 – Find Sunil on Twitter and send him an email
• 19:27 – The Famous Five

3 Key Points:

• Build something that people want.
• Follow your passion and do what you drives your passion.
• Focus on being part of a great team and focus on learning things rapidly.

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.
• Show Notes provided by Mallard Creatives