Why We Turned Down a $35 Milllion Acquisition Offer With Russell Brunson of ClickFunnels
SaaS Interviews with CEOs, Startups, Founders
Shownotes Transcript
Ep 137 Russell Brunson joins Nathan.
Russell Brunson is a trail blazer in the world of internet marketing, becoming most famous for his sophisticated use of split testing. Russell started his first business while studying at University, selling over a million dollars’ worth of his own products and services from his own basement by the time he graduated. Since then, he has started and built diverse businesses including software company ClickFunnels and coaching company DotComSecrets.
YOUR $100: Remember to subscribe to the show on itunes then text the word "nathan" to 33444 to confirm that you've done it to enter to win $100 every Monday on the show. Do this now. Stop reading this and do it!
Click here to join the top tribe and instantly learn how Nathan made his first $10k at 19 years old: http://nathanlatka.com/startertribelive)
3 Key Points:
You can create an astoundingly profitable consulting business by providing a bridge between *software *and the concept behind the software
When you go the VC route, your board members become your customers and the REAL customers are the ones who lose out.
If the goose is laying the golden egg—don’t tinker.
Episode Notes:
01:00 – Nathan’s introduction to today’s show
01:35 – Russell joins the show
01:46 – Russell talks about what he was selling in college—POTATO GUNS
02:15 – Russell is 35 years old
02:35 – Dot Com Secrets) is Russell’s coaching company—ClickFunnels)is the result
03:39 – Dot Com Secrets is also a book now)
04:04 – The company (DCS not CF) will do between $6-7 million by the end of the year
04:20 – Most ClickFunnels members ultimately become consulting clients in one way or another
04:55 – Bridging the gap between the software and the concept
06:13 – The call-to-action in Russell’s book
07:20 – 18% of ClickFunnel customers pay $300 a month—everyone else pays $100
08:08 – Defying the venture capital route
09:13 – Defining the ultimate goal with ClickFunnels
11:16 – Ironing out the equity split
11:29 – Russell sank over $1,000,000 to get Click Funnels off the ground
13:10 – It’s not always about what your partner’s bring—it’s about how much you respect them
14:20 – Customer acquisition cost
15:05 – 80% of new clients are organic, 20% are from affiliates
18:30 – Click Funnels list is ½ million people
18:45 – Famous Five
Famous 5
Favorite Book?—Rework)
What CEO do you follow?—* None*
What is your favorite online tool?—Tomorrow.do)
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be?—Understand the power of working for people for FREE
Resources Mentioned:
Growth Geeks) – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects
ClickFunnels) – Russell’s newest company
Dot Com Secrets) – Russell’s consulting company
Dot Com Secrets) – Russell’s book
Rework) – Russell’s favorite business book
Tomorrow.do) – THE digital tool Russell could not live without
Listen to The Top if you want to hear from the worlds TOP entrepreneurs on how much they sold last month, how they are selling it, and what they are selling - 7 days a week in 20 minute interviews! Join the Top Tribe at http://NathanLatka.com/TheTop
The Top is FOR YOU if you are:
A STUDENT who wants to become the CEO of a $10m company in under 24 months (episode #4)
STUCK in the CORPORATE grind and looking to create a $10k/mo side business so you can quit (episode #7)
An influencer or BLOGGER who wants to make $27k/mo in monthly RECURRING revenue to have the life you want and full CONTROL (episode #1)
The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).
Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries.
Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that's like an audio version of Pat Flynn's monthly income report. Join the Top Tribe athttp://NathanLatka.com/TheTop)