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Jon Lee

๐Ÿ‘ค Speaker
181 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So it really depends on sort of

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

where you are in the life cycle, but I would encourage, you know, all your listeners to make sure they invest ahead, to make sure they're getting the right kind of customers, their target customers in the door.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So they really understand what their challenges are and that you design and build your product to truly solve those problems.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

And then the scaling part really, it kind of solves itself, right?

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

You know, you get a great sales leader in there, you build out the sales team, you make sure your magic number is, you know, above 0.8.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

And if your magic number is above 0.8, then, you know, you keep expanding.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So it's a pretty kind of tried and true playbook.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

I think you can read, you know, Jason Lemkin, you know, does a great job in his blog on sastr.com that talks a lot about this.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

But I highly recommend your listeners to, you know, check that resource out.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

Yeah.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So our average customer typically signs up for the professional edition, which is a $49 per user per month on an annual basis.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

About 80% or more of our customers are on that edition.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

That's close to that.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

Yeah.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So the majority of our contracts are actually annual, and then a fraction are monthly.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So I think that, um, you know, early in our days, we definitely did deeper discounting and that the numbers that I quoted are more reflective.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

Um, but, um, yeah, we're, we're sort of in the right order of magnitude.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

So that might throw 2 million MR off a bit, but I think a lot of SAS companies will find this is that,

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

Early on, you can only build so much product.

SaaS Interviews with CEOs, Startups, Founders
EP 397: ProsperWorks SaaS 40k Paying Customers, Announces New Funding Adding to $10M Already

And so some companies go at their target market from the get go and say, OK, I'm going after enterprise customers.