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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

And I said, okay, that sounds fair.

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

So it ended up being like three and a quarter million.

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

And so we did 1.2 million down payment.

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

We didn't have the money to do this.

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

So we actually funded it through debt.

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

The other two million were to be paid over 24 months, which we paid over our own cash flow.

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

And they were going to be incrementing payments.

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

So they started small and then they grew with the size of our company.

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

And they agreed with that.

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

They ended up taking a senior position.

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

And when we got a debt facility, they wanted to pay the whole thing off.

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

So that was a little twist of events.

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

But we actually were able to buy this through debt without dilution.

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

So something else that happened with Product Market Fit is just to be weary of partnerships.

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

So we tried to do a lot.

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

We tried to integrate our payments app with two other AppExchange apps, and that took a lot of time and resulted in no revenue.

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

A lot of payment gateways reach out to us, but none of them were going to bring us any business.

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

They just wanted to integrate us to say, hey, we're on Salesforce.

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

But they weren't going to bring us anything, so we didn't do them.

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

A lot of events applications, there's so many things you can do with events.