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Chris Savage

👤 Person
282 total appearances

Appearances Over Time

Podcast Appearances

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And we're like, oh my God, we broke our drought. We got a customer. But who's the customer? And he's like, oh, remember that machine company I was telling you about, this machine and tooling company? We're like, yeah. He's like, well, the marketer there wants to use this for his kid's hockey team. And we're like, oh, OK. How much is the deal? He's like, oh, I sold it to them for $12 a month.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And we're like, oh my God, we broke our drought. We got a customer. But who's the customer? And he's like, oh, remember that machine company I was telling you about, this machine and tooling company? We're like, yeah. He's like, well, the marketer there wants to use this for his kid's hockey team. And we're like, oh, OK. How much is the deal? He's like, oh, I sold it to them for $12 a month.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And we're like, oh, you know, it's just like, this isn't going to be good. And at the time we had this sheet. We were all in person, a sheet on the office that showed every day in the month and like how many deals. And Brendan went up there and he put like a little line and it was like $12. And we were losing $40,000 a month. So our goal was to get to break even.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And we're like, oh, you know, it's just like, this isn't going to be good. And at the time we had this sheet. We were all in person, a sheet on the office that showed every day in the month and like how many deals. And Brendan went up there and he put like a little line and it was like $12. And we were losing $40,000 a month. So our goal was to get to break even.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And he was like $39,988 or whatever. And... That was pretty rough. But the funny thing is, of course, we realized we need to give ourselves more flexibility. It's too early to pick just one size customer. And so the person who's doing sales starts testing more pricing. And we start closing deals at $100 a month, at $150 a month, and yada, yada.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And he was like $39,988 or whatever. And... That was pretty rough. But the funny thing is, of course, we realized we need to give ourselves more flexibility. It's too early to pick just one size customer. And so the person who's doing sales starts testing more pricing. And we start closing deals at $100 a month, at $150 a month, and yada, yada.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And then eventually, by that next summer, we have 30 paying customers. We're like, okay, this is better. And we make a change. You could find the price online. You could sign up online. It would start at $79 a month. And that summer, we went from 30 paying customers to 200. And I remember thinking, oh my God, we've finally done it. This is it.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And then eventually, by that next summer, we have 30 paying customers. We're like, okay, this is better. And we make a change. You could find the price online. You could sign up online. It would start at $79 a month. And that summer, we went from 30 paying customers to 200. And I remember thinking, oh my God, we've finally done it. This is it.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And then I got a call from our lawyers and they're like, hey, remember that funding round you raised? We never sent you the bill. So you need to pay us this bill now. And it was a $40,000 bill. And we had like 75,000 in the bank. So half our money was going to go and then we were going to have payroll and very quickly run out of money. And so it was like one hard moment. Okay.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And then I got a call from our lawyers and they're like, hey, remember that funding round you raised? We never sent you the bill. So you need to pay us this bill now. And it was a $40,000 bill. And we had like 75,000 in the bank. So half our money was going to go and then we were going to have payroll and very quickly run out of money. And so it was like one hard moment. Okay.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

Over at the nether, extremely hard moment. And we were just really fortunate that that summer had turned out the way that it did. Cause I went to one of our angels. I was like, Hey, I've got good news and bad news. Here's the bad news. We're going to run out of money. It happened really suddenly. We got this huge bill we weren't expecting. But the good news is, look at this customer graph.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

Over at the nether, extremely hard moment. And we were just really fortunate that that summer had turned out the way that it did. Cause I went to one of our angels. I was like, Hey, I've got good news and bad news. Here's the bad news. We're going to run out of money. It happened really suddenly. We got this huge bill we weren't expecting. But the good news is, look at this customer graph.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

I think if we just keep doing this, it's going to work. And he looked at this and he was like... You're right. And he wired us like a check for $100,000. And then he said, Chris, I want to fly you around on my jet. And I want to help you close this round because I don't want you to waste any time. And we went around and basically within a few days, closed the round.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

I think if we just keep doing this, it's going to work. And he looked at this and he was like... You're right. And he wired us like a check for $100,000. And then he said, Chris, I want to fly you around on my jet. And I want to help you close this round because I don't want you to waste any time. And we went around and basically within a few days, closed the round.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And that was the last time we ever raised equity.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

And that was the last time we ever raised equity.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

It is a roller coaster. You start to love it, I think, is the thing, actually. You start to realize that a lot of the hard moments, what it takes is focus and commitment and working with great people. And that's how you get through hard moments. Sometimes the hard moments are short, and sometimes they're really long.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

It is a roller coaster. You start to love it, I think, is the thing, actually. You start to realize that a lot of the hard moments, what it takes is focus and commitment and working with great people. And that's how you get through hard moments. Sometimes the hard moments are short, and sometimes they're really long.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

But it basically always comes back to if the culture's right, if the people you're working with give you energy, and if those people believe in what you're trying to do, it's a lot easier to get through the hard moments.

Leap Academy with Ilana Golan
Wistia CEO, Chris Savage: Master the Art of Pivoting, How to Adapt and Grow Against the Odds | E61

But it basically always comes back to if the culture's right, if the people you're working with give you energy, and if those people believe in what you're trying to do, it's a lot easier to get through the hard moments.