I CAN'T BELIEVE THIS HAPPENED | Vlog #75

Ryan Shank runs PhoneWagon, a bootstrapped SaaS startup with no outside funding, and walks through the reality of building it. Recent deals hit $500k to $1M, but his outbound sales close rate sits at 20% and he's working to push it to 35% through product and storytelling improvements.
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No, this dude's a hustler. I fuck with this dude. That's why I like this guy. He's kind of a dick, which I kind of like too. How are you guys even different? Like, you're just scrambling Twilio numbers? I was like, yeah. Good morning. How's everyone doing today? My name is Ryan and I'm with PhoneWagon. What is poppin', people? Okay, so good morning. Hope everyone is out there working hard, being pioneers, being Wagoneers. If you're new here, my name is Ryan Shank and this is our journey. We're building PhoneWagon from the ground up. There's no outside funding. We're completely bootstrapped. We're doing it all day to day. We're building a beautiful product that people love, that people use every single day. We're going after them, we're doing sales, we're hitting them, we're doing everything. And we're documenting the entire process, okay? So basically, like, in startups and in venture capital, you have to do certain things. Like, you have to file like 83Bs, RSUs that are given out to employees, which are like non-stock options, but they're not stock options. They're pretty much like stock, but it's restricted. So we were trying to figure it out and kind of paper everything. Everything's just super buttoned up for tax purposes. And stuff like that. Like, not like uber fun, but it's just stuff that you have to do, especially as like deals start to progress and they start to like really come together. We've actually closed a bunch of like pretty big deals recently, and we're getting a lot of customers that are coming on board. One coming from competitors, and then also just coming from like not using anyone. So we're sort of having to educate these guys. So that's pretty much what we're doing in this video. So I hope you guys are out there working hard. Like I said, I hope you love the vlog today. Uh, we're bringing you that heat every single day. Okay, my hair is kind of like really weird. And, uh, yeah, so pumped for you guys to see it. Take a look at the vlog. Cane spiced it up. Peace! Hey, this guy. Why'd he drop you off the chain? I'm an asshole. They've reviewed your product completely. Why didn't he put me back on the chain? Because he dropped you off. I don't know if you guys are beefing. I don't know. You're yelling at Rajesh. I don't want you to yell at this guy. Meeting with partner. It went well. They write $500,000 to $1 million checks. It's great. I met with Rosecliff at like 28th and 5th. Oh, I think Upside Door just converted. I just wanted to make sure this shit was like right. I have no confidence that this is correct. Oh yeah, you gotta do that, huh? Wait, did you give me the check? Where's the check? Whatever, I mean, it's fine. That's why I knew this had to be there. You're basically sending this, this, a copy of check to the IRS. But it also said like— Wait, isn't it 22325? Isn't it— 223— oh shit, right. I am gonna check. Reprint that with the right 22325. Is it 22325? Yeah, 'cause it's definitely, it's 0.0893. Did I write 325 or 2? You wrote 235. So that's right. No, it's 325. Gotcha. I thought that was just like its own little thing. It was just like, hey, you received some shit, sign this. Yeah, but it's like, oh. So this whole one. Yo, what's Gravely? Why have I heard of that? Should I make a joke to this guy who's flying here tomorrow? Should I be like, don't forget the checkbook? Yeah, I just wanna make sure that you got the order I just made. If I sign this, can you— do you know how to like scan and stuff? Oh wait, there's another one. There's two Exhibit A's. Oh, I think my food's here. Mike, what do you want to say to the vlog? Trying to figure out how to use the scanner. Having some technical difficulties here, Mike. Is that it? Is that what you needed? Mm, no. You got it now, Mike? Well, then I have to scan that other thing, like— You're fine, you're hard. It's your card. I'm making fucking hummus all over this shit now. Wait, really? Is it really? That's my bad. Yeah, that was me. Sir, uh, there's hummus over here if you need it. Alyssa Branigan, how are you? Okay, yeah, that's awesome. Um, do you need anything like from me? So we're at like 90 $500 in ammo right now. All right, cool, sounds good, man. No, this dude is a hustler. I like— I fuck with this dude. That's why I like this guy. He's kind of a dick, which I like— kind of like too. I like that. Like, he's being a dick to me, but in like a scrappy way. He's like, how are you guys even different? Like, you're just scrambling Twilio numbers? I was like, yeah, like, and I was like, we're different. And I'm trying to like— I don't know, I kind of like it though. Yo, I'm going to move my computer over there. You can like go over there. Like, I want to go through the model. That's the vlog for today. Hope you guys enjoyed it. I mean, we're adding customers every single day. It's awesome. We built this beautiful, you know, product that we're only adding like additional features, additional integrations, additional stuff to. So, but yeah, I mean, I hope you guys are like learning stuff from what we're doing. Again, like even these phone conversations, like I'm trying to give you like as much, you know, behind the scenes like as you can without like, I don't know, like overly disclosing disclosing stuff, but I'm trying to let you guys ride because all 50 people who watch this on a daily basis, thank you. And yes, but anyway, real talk, hit me up with an email, call me. People are hitting me up all the time. Literally every single day someone's like, oh, can you just send me your deck, or can you send me this, can you send me this? And it's super happy to just share what we're doing. Again, we're trying to figure it out. It's like, I don't know exactly all the things. I feel like I have a pretty good idea of the playbook, and we're just sort of executing, we're testing a lot of things, and then where things aren't working, we're like, right now for instance, Perfect example, our close rate right now on outbound sales is about 20%. It needs to be 35%, okay? So I'm trying to figure out why is it only 20%? What do we need to do in order to close the gap on that? Basically take it from 20 to 35. Pretty much, I think a couple things. One, product stuff, integrations, that's gonna come, that's gonna give it that natural bump. But I think even in the meantime we can do a lot of better storytelling, creating a sense of urgency, using social proof, showing them how other agencies are doing this right now and they're seeing a lot of success. And the thing is, you always wanna either touch on to a pain point or paint that like big picture, be like, and then once they implement PhoneWagon, their clients are actually increasing ad spend or then referring other people. You know, you want them to see that, like that prize that they're gonna get from coming with you. So I think we need to do a little bit better with that, and that's gonna help us increase close rate. Kinda back to the point, it's like we don't know, you know, I'm not sitting here and saying I like know what I'm doing, you know, necessarily, but I know how to like test, I know how to kinda like read You know, like what's happening at a macro level and things like that. So that's what, you know, we're focused on every single day. And I know a lot of you guys, or some of you are like watching this, like building stuff right now, or like following along and you like think it's interesting. So like totally down to like just collab ideas and stuff. So without further ado, I don't think you say that, but anyway, peace! [MUSIC] [MUSIC]
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