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Nathan Berry

๐Ÿ‘ค Speaker
1489 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

I think we were spending 80 grand a month and we had like 15 grand of cash in the bank.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

So gross, where we were still profitable and the dollar amounts were going up.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

The bank balance is getting bigger, but at the same time, your day's worth of expenses is going down.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

Because $15,000 in the bank, when you have $5,000 of MRR and $5,000 of expenses, that's fine.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

But when you have $100,000, it's not cool anymore.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

So that's where we were.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

We had basically, we wanted to get the team together because we had, I don't know, 13, 14 people on the team at the time.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And we thought, okay, but we just can't afford it.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And so we cut expenses, doubled down, or we didn't cut expenses.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

We basically locked expenses and then grew our way out of it.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And we grew our way from like barely break even to five months later, we had 60%, sorry, 50% profit margins.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

three months of expenses in the bank and we did a team retreat to celebrate.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And so that was like the big high in entrepreneurship.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And the whole team flies into Boise.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

We have like, everyone's showing up for this team retreat and we get a denial of service attack where someone goes like very deliberate, very malicious goes to take down our servers.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

It's like, I distinctly remember picking up Brad, one of our lead engineers at the airport and I show up and he's like next to baggage claim on his laptop, like trying to keep the servers up.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And it's that sort of thing where you go from this crazy high and it's like, oh man, I can't believe we pulled that off to the equivalent of your hotel burning down or like this, like, I don't know how we're going to recover from this.

SaaS Interviews with CEOs, Startups, Founders
ConvertKit Raising at $196m Valuation?

And you always do.