Growing Our SaaS Company To $1M+ ARR: 7 People, 3 Years, No VC Money. Key Lessons Learned - Deepstash

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Growing Our SaaS Company To $1M+ ARR: 7 People, 3 Years, No VC Money. Key Lessons Learned

Weavora started as a small Outsourcing company in 2010. we needed to report and invoice our clients based on actual hours spent. In September 2015 we signed our first paid client. Today we have crossed the $1.3M Arr mark (growing X2.2 times per year) and used by 2,200+ companies from 70 countries.

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Product should have a clear advantage, not so easy to copy for a competitor. Many users still preferred us because we did one important feature Very-Very well. We gradually react to requests from customers, add new Functionality.

Synthetic testing can sometimes fail to detect a serious problem. If you use your product daily you will be sure everything works.

Outsourcing is much easier and faster to organize than a profitable product. The fear of borrowing and the need to meet high expectations is a big factor. We did several "Pivots" because misunderstood market demand. We could find ourselves in a situation when we add feature by feature until reali...

Free users more often contact support (due to their larger number), they react more sharply to your failures, they ask absolutely different features rather than those who are paying, etc.

And the conversion from free to paid is very low. Expect about 0.5–1%.

Annual Subscriptions will significantly increase your cash flow, approximately +10–15% to your Mrr. It reduces the number of monthly failures and delinquent Churn. If users on average use your product for less than a year, the annual subscription will increase your LTV.

Lead conversion from a partner directory is about 30%. We tried Google Adwords several times, spent several thousand dollars, and received 0 paid customers. Another great channel for us is organic. This is great, but a long-term investment in content and Seo. 

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Product Managers (PM) are responsible for the growth of the product from the start. If the product fails, the PM takes full responsibility. To ensure a successful outcome, PMs need to spend a lot of time with their product to make it valuable for its users.

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A lot has been said about avoiding the feature factory approach to product management. No one wants to work on a product as though they’re “sitting in a factory, cranking out features, and sending them down the line,” without knowing if they’re actually having any impact. It’s the definition of a...

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