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Mohamed Younis

๐Ÿ‘ค Speaker
161 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

each one of them have hit at least 3 million or above last year.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

So again, in most cases, this is almost, there's no one who have not hit a target.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

In most cases, they've hit their targets within a quarter or two quarters.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

That's what has happened.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

Yeah, it's roughly $100,000 and $100,000.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

So you will get around $200,000 plus.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

The challenge, I think at that time was really we...

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

we strive in being extremely transparent and when there's a lot of money coming to you you want to be make sure that you know as much as you want to win the customer you also sometimes want to just be careful of what you're signing up with right because the way we have been able to scale is that we have been absolutely clear what our platform does how we can support you how we can help you right uh during the covid times a lot of customers would just want to sign up with you without even telling what they're looking for you know and again we were very careful of

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

Again, not having salespeople who are just out there for money.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

We care about just, again, we don't want to get a customer for first year.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

We want to get a customer for the next three to five years.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

And we just want to make sure that we are signing up for the right customer.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

So just having that transparency, having that extreme honesty within salespeople, that's what we typically look for when we're trying to hire someone.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

Yeah, so...

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

Historically speaking, it has been close to 140%.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

So our net revenue reduction historically was 140%.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

We have to see, because in 2020, of course, we got a lot of these customers who were trying to do a physical one.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

Now they did a virtual one.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

As of now, we are seeing that we will have at least close, like anywhere from 70% to 80% customer retention and hopefully 100% plus revenue retention.

SaaS Interviews with CEOs, Startups, Founders
vFairs Breaks $30m ARR bootstrapped, turns down $500m Offer

So we'll see what will happen this year.