http://nathanlatka.com/thetop402/

In Episode #402, Nathan interviews Brian Wong, who started his company Kiip after getting laid off. As his company has grown and matured, his co-founders have moved on. But Brian is incredible grateful for his company and believes in sticking to your decisions and putting your whole heart and soul into your business. Now Kiip is on track to make $20 million this year, so he must be doing something right.

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Famous 5:

Favorite Book? – Predictably Irrational
What CEO do you follow? — Evan Spiegel
Favorite online tool? — Evernote
Do you get 8 hours of sleep? — No.
If you could let your 20 year old self know one thing, what would it be? — Stop taking everything so seriously. Everything is going to work out.

Time Stamped Show Notes:

01:20 – Nathan introduces Brian
01:50 – Kiip is embedded into apps, and it rewards you for achievements in those apps
02:45 – 50/50 revenue share with brands who provide the rewards
03:20 – The economics of partnering with a brand like Gatorade

04:00 – Customers must claim the award for either company to get money

05:00 – Why they use email to deliver the awards
05:38 – Brian’s journey to where he is now, at age 25

06:00 – He found himself in business development
06:55 – Laid off in 2010
07:00 – He met with a few venture capitalists, and a startup seemed like the right direction
08:00 – He and his two cofounders got started

08:30 – They started with $300k
09:30 – Total capital now is $32 million
09:45 – Last year’s revenue was $11 million
10:00 – Margins are increasing as they are becoming more efficient

10:40 – Reducing server costs, marketing costs, and creating different revenue streams

11:25 – They have a unique revenue model that brings in “new money”
12:35 – Engagement rate is 10%
13:10 – Both of Brian’s cofounders have left to do other things
13:45 – How Brian feels about his company’s growth

14:15 – “At the end of the day, it’s what your exit is.”
14:50 – He feels thankful for what he has with his company
15:15 – “Make your decision and don’t look back.” You can always dream about what could be better or different, but follow through and stay committed to what you have.

16:50 – Goal for 2016 is $20 million
17:00 – Hopes to grow the margin more
17:15 – Twitter @brian_wong and Snapchat at bwong91
19:20 – The Famous Five

3 Key Points:

When you make a decision, completely commit to that decision.
It does no good to daydream about what could be better or different. Channel that energy into improving what you have.
Take advantage of an opportunity when it is put in front of you.

Resources Mentioned:

Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks – The site Nathan uses to manage his invoices and accounts.
Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

Evernote – Brian’s favorite online tool
Show Notes provided by Mallard Creatives

The post 25 Years Old, $32 Million Raised, $11 Million 2015 Transaction Volume with Brian Wong of Kiip appeared first on Nathan Latka.

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