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Ravi

๐Ÿ‘ค Speaker
120 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

How many customers are paying you something?

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

40, 40, 40 customers pay us to build up that revenue stream, right?

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

The growth of the zero to 1000 that we're targeting is going to come through the resale channel and the affiliate channels that we have some experience in working with, but in the lower price point, because we can't

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

go with the direct sales force against those accounts.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

It's just not economically viable.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

So we're changing the model and that's how we're going to expand going forward.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

Okay, so we have two successful resellers today.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

one of whom we recruited in the last 30 days.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

We have two more that are starting in the next 30 days because we have to find them out.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And they have five customers each they plan to bring on board in the first 90 days.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And what do you pay the resellers when they bring you a customer?

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

Our model is 30 points on the first year, 15 on the second year, and a trailing five life to date.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

Okay.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And why did you pick that model?

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

because we want to incent them for year one to get a high growth.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And then we think second year, you should scale back because the effort's less.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And from third year on, we want to have a residual in play because we want them to be comfortable with what they have.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

We will play with the model a little bit as we get more experience, but we also don't want to have margin erosion.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

At the same time, we want to have some retention strategy in the channel so they enjoy having some residual revenue, but the focus is on acquiring new customers.

SaaS Interviews with CEOs, Startups, Founders
Groupfio Using Resellers to Break $1.3m Bootstrapped

And are you profitable still today?