- Duration: 10 min
- Platform: meet
- Source: Read.ai 01JK6JR52CDF3FWKAV4J7KCWEY (https://app.read.ai/analytics/meetings/01JK6JR52CDF3FWKAV4J7KCWEY)
Transcript
[Michael Houck]: Yeah, I’m good, man. Good to meet you, too. I’m hanging down in Patagonia in Argentina for the winter. So getting out of the cold, it’s been pretty nice. [Joseph Quan]: Amazing. I actually did Patagonia like eight years ago. Now at this point, like a 10-day trek with a bunch of buddies. [Michael Houck]: So it’s a ton of fun, man. Oh, you did. You went more the traditional Patagonia, like nature hiking. [Joseph Quan]: Yeah. Me, I’m hanging out by the lake. All good. Cool, should we jump in? What would be most helpful to kind of like talk through on your side? [Michael Houck]: Yeah, I mean, look, the biggest thing for me to understand on this call is just like where you guys are at, what you’re looking for, just sort of the basics that you would expect, like context, right? And then from there, I can take that and sort of say, okay, here’s how I think we could help on the content side. So I’ll throw it to you. Just talk to me about where you guys are at and what you’re thinking. We’ll go from there. [Joseph Quan]: Okay, sounds good. And I’m paying attention, by the way, I’m just going to take some notes on the side as we go along, if you see me. So why don’t I give you a minute on the company, and then I’ll give you a minute on kind of like what led me to you. So the minute on the company is we build three products along a continuum, I’m going to intentionally frame it up this way, because I actually think it’s quite important. There is the free community for chief people officers, that’s now become kind of the leading tech community for CPOs and CHROs from like Lyft, DoorDash, Figma, Vercel, whatever. That’s free, gives a bunch of value, and requires like no activation energy. You apply, if you’re accepted, you get a bunch of value right away because you can then get to the forum, all this stuff. Then we have the middle of the spectrum products, which I call kind of nexus products. They’re typically anywhere between $1,000 and $10,000. A lot of times you can pay for them through like your corporate credit card, relatively low friction, Sometimes you pay through your L and D budget because it’s like a learning expense. Sometimes it’s like a data product, whatever. And then we have people analytics product on the end of the continuum, which is high friction and quote unquote high cost. So you have to integrate all your data sets. So it actually takes a while to set up. We have to go through finance for approval. We have to, the ACVs are typically around like 20 to $50,000. The reason why I kind of framed this up is because our entire company almost is a funnel. We attract people. Like chief people officers through the community and build kind of a lot of a great reputation there. Then from there, what we ended up doing is a lot of times they’ll dip their, will dip their foot into kind of monetization. So they’ll pay for the first time. And then we found that once they’re have engaged or paid for some offering, they’re much more likely to buy kind of software downstream as well. Of course. So actually I’m going to share a couple of things that are off the record. Do you mind dropping your note taker? You can drop mine too as well. [Michael Houck]: Yeah, sure. Let me kick them out here. [Joseph Quan]: Yeah, you can keep all the car so and some stuff I don’t want to keep tight, um