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Mike Morgan

๐Ÿ‘ค Speaker
141 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

And of course, I do have options.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So we have 20 employees right now.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So far, yeah.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

We started selling into the US this summer, and that's going really well.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

But we've decided to do that at a low cost, low touch model.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So we...

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

product to sell in the US, but we're doing sales and marketing from the UK into the US market.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So we've just exceeded 800 customers.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

Well, we've invested time and effort in demand generation, which is something that was not a great focus of the team previously, obviously.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

But we've also invested a hell of a lot in the product in the last 12 months.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So the product was feature deficient.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

And in record time, we've plunged a lot of investment into development resources.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

And we've now at a point where we have a product which we believe is market leading in terms of functionality.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

We used limited cash and I mean limited, but we've also brought in a little debt.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

So being very transparent, we've probably about $400,000 of debt in the last 12 months.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

Well, we actually worked with two providers.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

One was Creative England.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

You may not be familiar with them, but they're a great and very supportive lender here to small businesses in the UK.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

And we also work with Funding Circle.

SaaS Interviews with CEOs, Startups, Founders
1575 Why This $1.4M ARR CEO Wants to Double CAC Even Though You Think Thats Bad

No, on the contrary.