Dr. Milton Chen. He’s the co-founder and CEO of VSee, and has a PhD from Stanford on the design of video collaboration. Additionally, he was the co-founder of XMPP Video Standard which is now used by Google Talk and Facebook Chat. He has deployed VSee for Hillary Clinton, Angelina Jolie, Linkin Park and UN Secretary General Ban Ki Moon.

Famous Five:

Favorite Book? – Zero to One
What CEO do you follow? – Marc Benioff
Favorite online tool? — Rapportive
Do you get 8 hours of sleep?— No
If you could let your 20-year old self, know one thing, what would it be? – Milton would tell himself not to be as naïve and clueless

Time Stamped Show Notes:

01:40 – Nathan introduces Milton to the show
02:20 – Vsee is a SaaS company
- 02:31 – Vsee offers mobile app and call center workflow
03:04 – Price range is $49-499 per medical provider per month
03:30 – Milton explains how VSee provides a service to client, Trinity Health
04:30 – Milton assures their client security and confidentiality
05:05 – Vsee was launched in 2008
05:33 – Milton went to graduate school because he wanted to become a professor
05:46 – Milton now loves everything about startups
06:03 – Vsee’s initial investment
- 06:24 – It was an equity investment
06:42 – Milton was clueless about valuations and didn’t know what he was doing
- 06:59 – Milton started VSee after graduate school with zero knowledge about business
07:15 – Milton was just grateful that people wanted to invest in VSee
07:35 – Vsee currently had a thousand paying customers
09:00 – Average number of nurses in VSee
09:23 – First year revenue
10:11 – Average amount raised
10:40 – Team size is 52 and they are based in Sunnyvale, CA
12:12 – VSee is currently cash flow mutual
12:51 – Vsee invests in making sure their customers feel secure
13:18 – Milton shares how their technology is built into Facebook Messenger
14:00 – Milton doesn’t get royalties
14:40 – Vsee started as a general video conference market
14:50 – Milton shares how they pivoted to the health industry
15:34 – Vsee has an inside sales team
- 15:41 – Vsee has 3 sources for sales
16:22 – Vsee is currently not into paid marketing
17:40 – Vsee has close to 100% customer retention
18:17 – Vsee is on a net negative churn
19:20 – 2017 revenue target
20:56 – Vsee’s last closed round was in 2011
21:10 – Milton is just focused on acquiring more customers and is not interested in any acquisition talks
22:47 – The Famous Five

3 Key Points:

Everyone has to start somewhere – even if it means being naïve and clueless.
Getting into a market with less competition could mean more customers and sales.
Paid marketing won’t always work so test everything, first, before investing in a certain marketing strategy.

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
Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
Show Notes provided by Mallard Creatives

EP 611: VSee Helping 1000 Customers Use Video To Transact Information with CEO Milton Chen

SaaS Interviews with CEOs, Startups, Founders