The Top Entrepreneurs In Money, Marketing, Business And Life

Matthew Bernman of Sonar, a business that makes is super convenient for customers to chat with the companies they buy from. Listen as Nathan asks Matthew about his journey into the startup game, Sonar’s financial backing, and their long-term development goals. Time Stamped Show Notes:01:09 – Nathan’s introduction 01:39 – Welcoming Matthew to the show01:52 – Why he left 500 Startups02:08 – Matthew always wanted to jump back into the startup game03:09 – Used to work with Teamly—a company that folded04:10 – Convertible note versus equity05:03 – Lead Cap negotiation05:34 – How Sonar makes money06:00 – 120 paying customers, on average contributing $2K per month07:30 – Customer acquisition is primarily through word of mouth08:05 – Month over month revenue increase is 35%09:20 – Inbound leads tend to convert at a much higher rate09:48 – 3rd party integration will also be a growth driver10:22 – Want to hit $1M ARR in 201611:49 – The interest is in taking a lasting vestment in the company Famous 5Favorite Book? – None