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Jason Andrew

๐Ÿ‘ค Speaker
320 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And then why an exit for us made sense and where we were at in the marketplace, what things were keeping me up at night and why that seemed for sure

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

Um, the, the best path.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

So thankfully, uh, you know, we grew revenues from, uh, the first year, all the way through our exit.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

Um, and when we, when we started the company, uh, we did some things that, you know, worked on a prototype, but we were then, you know, acquired, we were doing about almost 12 million in 2021 and our way to about 19 million.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

Um, and so, you know, we, we were having some growth, but, uh, we had about 50% of that was services revenue.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

The other 50% was a recurring error.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And really because we were doing big enterprise deployments at that point in time, uh, you know, it was probably a three-year recurring revenue on the, on the services side of it.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

So, um, that explains some of the multiple that we got, which is kind of a blend between SAS and the, um, services.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

So, um, I know it's kind of cliche, but I'm gonna talk about really, for me, a lot of it as a CEO was about relationships and intuitively trying to figure out where the business needed to go and having really great people that helped us along the way and just learning how to go from a founder to a CEO, uh, through that whole path.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And so we, we did a prototype for the first, um, really for the first, um, year.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And it was built in one programming language.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And when we finished that, we also, my co-founder Michael, had a lot of connections in the industry.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And we had about 20 to 30 clients that paid us about $1,000 total in advance.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

That's for our first year revenue.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And they really did it based on the fact that we had a prototype that they believed we would deliver to them.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And it was on the relationships and the trust.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And we did a lot of work to deliver on that.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

But if we hadn't had Michael and didn't have the relationships in the industry and what we were doing, we would not have gotten those first customers signed up without a doubt.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And then another relationship that Michael introduced to was an angel investor who actually ended up investing in the company, becoming an advisor to me.

SaaS Interviews with CEOs, Startups, Founders
How we pivoted our way to a near hundred million dollar exit

And then ultimately we hired him later on.