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Chris Buttenham

๐Ÿ‘ค Speaker
161 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

And we hung on, we bootstrapped, we got really creative with the expenses.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So this isn't something that's foreign to us.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So me and my co-founder made the decision to not cut our employees' salaries, just our own.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So that conversation becomes a little easier to have.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

But we did set the expectation with the team that if things took a turn for the worst, that that's where it would end up.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So just setting the expectations early is what we decided to do.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

It's not exactly like that.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

The cap table is a little messy from the early days.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

Yep.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

Yeah.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So, I mean, this is something, again, is like you live and you learn.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

But early on, one of the reasons that we were able to sustain being alive and being scrappy was we brought people on for equity.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

And for tax purposes, we brought those people on for actual founder stock, which, again, you live and you learn.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

But it makes the cap table a little bit messy.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

Having said that, me and my co-founder still own most of the company.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

We've raised all of our money on notes to date, so we still retain control.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

But I actually, I don't know if I would do it necessarily differently in terms of

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

sweat equity because we wouldn't have gotten here without those amazing people's help.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

And we didn't have any money to pay them.

SaaS Interviews with CEOs, Startups, Founders
Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently

So we came from a rural place in Canada where VC isn't all that prominent and we weren't successful founders that have had big