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Mike Lapchick

๐Ÿ‘ค Speaker
242 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

Right, right.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

So, yeah, that was the plan.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

So I'll tell you where we failed is in the in-app marketing.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

The biggest botched opportunity that we had was converting the free-to-paying users.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

Well, so, well, let me, let me go on.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

I'll tell you why, why that question is not as answerable as you'd think.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

So, so when we raised our last round, um, we brought on a sales team.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

And again, before this, we, we were, any of the revenue we had was accidental.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

So, so the sales team, uh, started in 2016.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

Um, and, and they, we had so much inbound interest that that's what they sold.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

They never even looked at the 9,000 companies at the time as an upsell opportunity.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

So we haven't converted many free to paying, not even close to what we had projected.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

And that opportunity still sits there today.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

And it will be, I think, harvested by this next group.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

It's not an important metric because it's so low, right?

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

Well...

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

uh, I'm, I'm not doing it a particular way.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

I'm, I'm saying that there are several ways to do it.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

And that's one, one way that we look at, if we look at it, a marketing cost and you look at the return on that marketing cost, right.

SaaS Interviews with CEOs, Startups, Founders
1042 "We're selling the company right now" for $10m+

That's one very different thing than, than my carrying cost.