EP 401: Quit $180k Microsoft Job to Launch Own Startup with KarmaCircles CEO Deepak Goel

Released Monday, 29th August 2016
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Deepak Goel, the mastermind behind his new company  KarmaCircles. Deepak says the company is the next-generation LinkedIn. He believes he has found his calling in life as an entrepreneur in the social networking niche.   Famous Five:  
  • Favorite Book? – Give and Take
  • What CEO do you follow? — Jeff Weiner, CEO of LinkedIn
  • Favorite online tool? — Mint, Appear.in
  • Do you get 8 hours of sleep? — Absolutely.
  • If you could let your 20 year old self know one thing, what would it be? — Don’t stay in a company for more than two years.
  Time Stamped Show Notes:
  • 01:05 – Nathan introduces Deepak
  • 01:50 – KarmaCircles is an app that connects entrepreneurs with successful business people
  • 02:55 – Pilots with business schools and corporate companies
  • 03:15 – No money the first year
  • 03:30 – What companies are similar to KarmaCircles
    • 04:20 – A LinkedIn of the future
  • 05:00 – All free pilots right now
    • 05:45 – Why they are not charging for the app now
  • 06:40 – Will the customers pay when they make that shift?
    • 07:10 – If customers like the product, they will stay
  • 07:40 – Target annual contract value size
    • 07:55 – 500 users per month for business schools
    • 08:45 – It can be used by any company that does networking
    • 09:00 – Much larger contracts for corporate companies
  • 10:10 – Capital from six angel investors
  • 10:40 – 6 people on their team
    • 10:50 – They pay $3000/month for six engineers
  • 11:40 – Differences between them and the company Clarity
  • 12:00 – Social networking is Deepak’s “life calling”
  • 13:00 – Karmacircles.com/Deepak
  • 15:00 – Giving of yourself for free will circle back to you
  • 15:45 – The Famous Five
3 Key Points:
  • Find the industry that you were made for.
  • If you give to others freely, you will see karma come back around to you.
  • Believe in your business and set high expectations.
  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.
  • Mint – Deepak’s favorite online tool
  • Appear.in – A video conversation tool that requires no download
  • Show Notes provided by Mallard Creatives

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