SFN217: The Proof is in the Pudding: $20k MRR in Just 3 Months
Dave Rogenmoser is the Co-Founder & CEO of Proof, a software product designed to double the conversion rate on your landing page or website by displaying recent customer activity. Proof is achieving a milestone of growth that we’ve seen very few software companies reach before.
After just three months, Proof is generating $20,000 MRR.Wow.
Dave also Co-Founded the Entrepreneur Alliance, a fast-growing global club of digital entrepreneurs coming together to create recurring revenue businesses. We’re going to dig into how Dave grew Proof so quickly, how he builds recurring revenue, and the lessons he’s learned after leaving corporate America to be an entrepreneur.
In This Interview I Ask:
- 3:15 - How did Dave get started in business?
- 5:35 - What’s the first product Dave built after being bit by the entrepreneurial bug?
- 7:20 - When did Dave start making money with his businesses?
- 10:50 - Where did Payfunnels come from?
- 13:25 - Why was Payfunnels “the cool thing?”
- 16:05 - What was the most challenging thing with getting Payfunnels off the ground?
- 17:30 - Dave makes it seem really easy and natural… does that resonate?
- 18:30 - What’s a typical workday like for Proof?
- 20:45 - Is it possible successfully launch a business without going through a phase of working your ass off?
- 24:10 - Where did the idea for Proof come from?
- 29:00 - What are Dave’s biggest lessons from building Proof over the past six months?
The Business IS The Product
Dave was attracted to software businesses because the business is the product – it’s not just a business that sells other products. All of your efforts should be going towards increasing the value of your product – your business – in the best ways possible because that’s what you ultimately want to sell.
Dave built Proof from the ground up with that idea in mind so that, one day, it will be a desirable product to purchase.
Dave is growing so quickly as a business owner because he treats every opportunity as a stepping stone towards something bigger, and he learns something new with each step.
After every failure or success, they reflect on how their new skills, influence, or capital will help them launch the next thing. To illustrate this, let’s look at Dave’s three-year journey in a nutshell:
- Built software
- Learned about digital marketing
- Launched a digital marketing business
- Launched an info business teaching digital marketing
- Launched software that helps digital marketers
Working More is Lazy
The mentality that you have to work 100-hour weeks to be successful is built on laziness. If you’re smart, you’ll use your brain to find the 20% that will have the most impact.
If you grind during the early phases of a business it might grow faster, but you don’t need to sacrifice your family to build a successful business.
Building Proof with Focus
The idea for Proof was pitched by one of Dave’s Co-Founders in December 2016, and they all fell in love with it.
Because of their experience in digital marketing software, knowledge of marketing funnels, and obsession over conversion rate, Proof was the perfect idea for the skill set they developed. They “bought” the idea with three years of hard work and experience.
In the testing phase, Proof seemed to work at every stage of the marketing funnel.
They hosted a webinar to validate the idea and pre-sold 38 yearly subscriptions.
In March 2017, they opened the doors to the public.
Now the company’s goal is to grow the MRR 10% every month and create a culture that is addicted to the growth (last week, MRR grew 34%). Dave is also using this as another stepping stone to develop as a leader.
“If I’m going to build a business, it’s not just about me being the best marketer ever – it’s about me being able to assemble the best marketers ever … I’ve realized that growing a company is a lot more about the people than it is about having one really salty funnel.”
- Connect with Dave: Twitter | LinkedIn
- Learn more about Proof
- Think and Grow Rich by Napoleon Hill
- Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow & Bo Burlingham
- The Automatic Customer: Creating a Subscription Business in Any Industry by John Warrilow