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Leo Bassam

๐Ÿ‘ค Speaker
321 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Okay, $200,000.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

And then you're saying you keep 30% of that, which is about 60.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

They keep the other.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Yes.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Got it.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

So, and what was the price point on the life, on the plan?

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

$49 for the whole year or for me for the, for life.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

So how do you, like what I always struggle with this is when someone sells something for life, you're essentially giving your word to someone who's making a buying decision that, Hey, you pay now we're going to be around forever.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

That's like a really hard promise to make.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Well, it's not necessarily saying that we're going to be here forever.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

It's just that, you know, here's our vision, here's what we're building, here's what we've done so far, and here's what we're aiming to do.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

And if you believe in that, then, you know, we appreciate your investment at this stage.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

So it's basically just an investment.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Yeah, but just to be clear, they're not investing.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

They don't have equity in the company.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

In a sense, well, not investing in a company, they're investing in their business because buying into Blue Tier right now and the value it will give you later on for the amount you're paying right now will be higher.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

Well, yeah, but just to be clear, they're not an investor in your company.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

They don't have equity, they don't have shares.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

I mean, they're a customer.

SaaS Interviews with CEOs, Startups, Founders
1604 Would You Sell "One Time For Life" Plans If You're Trying to Build an Enduring SaaS Company?

You're choosing to use the word investor, which I understand, but I mean, they're a customer.