Hey - Marc here.

Happy Saturday morning, Motivated B2B SaaS Founders.

Here's at least one tip to keep in mind as you grow your B2B SaaS company:

Today's issue takes about 5 minutes to read.

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What's the key to breaking $25k MRR SaaS revenue?

In today's issue, I share some key takeaways from a recent interview between Nathan Latka, the host of Daily Interviews with SaaS Founders, and Vidya Santhanam, the Co-Founder of Fitbots. They discussed how she broke this record by being one step ahead in her business strategy all along!

How Fitbots Started:

After a 16-year career in the corporate world, Vidya Santhanam decided it was time to start her own company. She had always been drawn toward business. After leaving Mind Tree with his Tech Co-Founder Kashi, they launched Fitbots — a one-stop solution for all OKR (Objectives and Key Results) implementation needs with OKR Software, OKR Coaching & OKR Certifications.

They started their first line of code in 2018 and launched their OKR products in 2019. Their goal was not to educate the market on the framework but to help companies adapt to OKRs using their software. Fitbots helps companies align their teams with their OKR by providing the tools and expertise to help businesses achieve their goals.

Challenges

In 2019, they realized that the OKR learning curve is a real challenge for some teams.

Not every problem in the world can be solved only with software. Vidya believes that it needs some handholding for teams, so they do it correctly. They built the products as they were close to the users and provided support & training to set us up for success.

They didn't run ads because they didn't have the money at that point.

Vidya and her team focused on getting more leads and growing organically through posting high volumes of high-quality content.

How would they outrank massive players in the OKR industry?

Vidya looks at it as a judo move. You aren't necessarily the strongest to survive. They can't just rely on their size to muscle through the competition; it's about creating high-quality content and constantly optimizing their SEO.

Advice to Other Founders

Use these three tactics:

1. Team organization.

The answer is simple: you could spend a dollar and make two dollars by being capital efficient. It's a toss-up; it's easy to keep hiring and burning quickly, so you must be very careful with your team size.

2. Optimization and content.

They've optimized on cloud space and started writing a lot more collaborative posts with Global OKR coaches such as founders or those who practice them and amplify them on their social media.

3. Lead generation.

They use inbound lead generation as an engine for getting leads. The growth of their company started with its own network. They used this to get their first customers and then learned from that experience. Now, they are serving 50 customers!

Side Note: Fitbots has been on an exciting journey, starting with less than $14K revenue per month and now generating over $25K (more than 100% increase) monthly! They did this by learning how to use their capital efficiency. In 2020, they raised a preceding round before going full steam ahead into growth mode.

Bonus

1. When it comes to age, Vidya is in her prime. She's married with an 11-year-old kid that she cares deeply about.

2. Her favorite business book is Predictable Revenue by Aaron Ross.

3. She loves following CEOs like Guillaume Moubeche, known as “G”, from Lemlist. She even did a podcast together!

4. Her online tool of choice for building Fitbots? Hubspot.

5. As she reflects on her 20s, she wishes she knew how to scale SaaS businesses.

TL:DR

Vidya cut her teeth in corporate, then went on her own in 2018, launching Fitbots. She started by officially becoming an OKR consultant and coached hundreds of companies on implementing OKRs. Now, they have 50 customers paying for their software. On average, each customer pages $500 per month, resulting in $25k in monthly revenue when all clients have combined; that's more than 100% growth from last year (less than $14K a month). They've done this all in a relatively capital efficient manner, raised $250K in precede funding back in 2020 at a $2M valuation, and are now looking to raise a precede round for $2M, willing to sell 15-20% of the business.

P.S. Here is a link to the full interview if you are interested in listening to the full episode: https://www.youtube.com/watch?v=0iLl594t8jQ&ab_channel=NathanLatka

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See you again next week.

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