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Chris at Blackthorn.io

๐Ÿ‘ค Speaker
270 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

It's payments and events.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

Anybody will buy this thing.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

Well, what we did is over time, we looked at all of the leads that were coming in and we saw most of them were from higher ed and nonprofit.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

At the time, we had no go to market.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

And I thought go to market was like this baloney term.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

But this is a real thing for sales and marketing teams to really focus on.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So what we did was that we flipped it over and we ended up focusing on higher ed and nonprofit.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So with Salesforce,

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

I asked, hey, you know, what are your metrics on higher ed and nonprofit?

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

You can see some of them are quite small, but a lot of them are quite big.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So we didn't want to sell two, three, four or 5K subscriptions.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

We wanted to do 50K, 100K plus based subscriptions.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So we had to go upmarket and find out where these different customers were.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

Same thing with nonprofit.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

It turns out a lot of nonprofits have really a lot of money and they have very sophisticated requirements.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

You can't just sell something really basic and they really need a lot of time.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So there's a lot of business there and nonprofits, which I never really understood.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

And it turned out being quite lucrative.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

So in order to figure out what it is that we wanted to do, we started with two products to do payments and events on the Salesforce platform.

SaaS Interviews with CEOs, Startups, Founders
Pivot City! How we pivoted 6 times on our way to $20m in revenue

We ended up building nine products, which I really don't advise you to do.