EP 525: Orangedox Doubles Down on Enterprise with $7.5k in MRR with CEO Chad Brown

Chad Brown, CEO and head of product along with his co-founder at Orangedox.com. He has a strong background in business intelligence and technology startups and has a passion for business documents and the color orange.

Famous Five:

• Favorite Book? – Good to Great
• What CEO do you follow? –  Drew Houston

• Favorite online tool? –  Stack Exchange
• Do you get 8 hours of sleep? –  Yes
• If you could let your 20-year old self, know one thing, what would it be? – “Be more confident”

 

Time Stamped Show Notes:

• 01:32 – Nathan introduces Chad to the show
• 02:07 – Orangedox started as document tracking and was originally on Dropbox
• 02:17 – Orangedox has premium services on top premium products
• 02:48 – Why would people choose Orangedox over PandaDoc
• • 02:55 – Orangedox is integrated into your account
• 03:22 – Orangedox is a SaaS business
• 03:55 – Orangedox has over 20K product signups
• 04:05 – Orangedox was in beta in 2014 and pre-launch in early 2015
• 04:25 – Average weekly active customers: 2000
• 05:05 – Average number of paying customers: about 300
• 05:30 – Average pay per customer is $25-30 a month
• 06:00 – MRR
• 06:17 – Chad was looking at raising capital but still undecided about their focus
• 06:55 – Chad is looking at their current customer base
• 07:30 – Chad shares how the customers are using Orangedox and the commonality in paying customers
• 09:15 – Team size: 2 full-time and few part-time workers
• 09:30 – Gross customer churn around 5%
• 09:57 – Chad shares how they acquire their new customers
• 11:52 – Orangedox is based in Vancouver
• 12:25 – Chad and his co-founders’ plan on the company
• 12:45 – Chad hasn’t focused on a lot revenue at the moment, but is working on closing key enterprise clients
• 13:21 – Connect with Chad through his email and Twitter
• 14:55 – The Famous Five

 

3 Key Points:

• At first, focus on the betterment of your product as opposed to revenue.
• Analyze your product’s effectivity through your customers’ activities.
• Have the confidence and motivation to do what you want.

 

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
• @Orange_dox – Chad’s business’ Twitter handle
• Chad@Orangedox.com – Chad’s email address
• Show Notes provided by Mallard Creatives