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Matt Ford

๐Ÿ‘ค Speaker
604 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So thankfully, once again, those three, there was four in the woodworks.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

Those we just cut down immediately.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

And I really like we have cash reserves.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So we're relying on the cash reserves.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

We haven't had we haven't had a crazy amount of churn yet.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

We have had some people that are just like they're cut off from their revenue.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So they've reached out and have asked for help.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

um there's been a lot of people saying hey can we delay but uh can we delay payment or can we um you know can we cut you know can we go from a thousand dollars a month to five hundred dollars a month or a thousand dollars a month to a hundred dollars a month and we're you know proactively playing the good guy role in those situations of course so how much of the so of the 2.7 million you raise i mean how much have you been able to like basically keep in the bank to ride this out

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

Yeah, luckily, I mean, we closed it in December.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So it was fully closed around December.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So the vast majority of it.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

Yeah, it's funny.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

When we talked, I think there was like a series of events that happened that made me want to fix the fundamentals of the company such that we weren't as reliant on outside funding to always get to the next level and that we found more of a balanced approach between like growth and profitability.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

And I think by actually focusing on profitability, it actually allowed us to grow more.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

Maybe there's this perception out there like if you're not spending on your socks and just focusing on growth, you're not innovating or you're not on the cutting edge.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

But I found that as we focused on running a tighter ship, we've innovated more and more.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

And this COVID situation accelerated us into that.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So I've timed the company up to the point where if we emerge from this in three months from now, which maybe that's possible, maybe that's not, we're a 15 times more fundamentally sound business with a better cash position because we adjusted from how we were spending in the past.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

And then not only at that moment are we in a better cash position, but into the future as well.

SaaS Interviews with CEOs, Startups, Founders
1716 $60k/mo Live Event SaaS Company Virus Survival Plans

So that's really what my focus is on is