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.

 

Read this online →

 

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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 Mahir Iskender, the CEO and founder of Digno Inc. They discussed how he bootstrapped to $45k MRR in under six months for employee engagement SaaS.


Driven by a passion for human behavioral psychology, Mahir developed Digno with the future of work and minds, supporting and celebrating every member of an organization. This digital platform was born out of the fashion retail business he launched in 2012 with his wife. 

 

About Digno

Digno turns employee performance data into a measurable score. They have been studying the behavioral psychology of employees for a couple of years, and they realized that five factors affect employee and company performance altogether:

  1. Productivity
  2. Goal management
  3. Engagement
  4. Tenure at the company
  5. Consistency

They've got their team together and started planning in July 2020. They used the platform first with their own employees. Their first line of code was written in 2021 and launched publicly at Collision Toronto, where now 45 companies are using it and growing by 15 paying customers.


P.S. They offer a $59 base subscription charge, with an extra fee per employee ranging from $7 to $9 per month. They generate between $3k to $5k monthly for approximately 300-500 persons. They also provide a 5-user plan – FREE for life!

 

Challenges

In 2018, they had difficulty managing two stores with 10-15 people in each.

The idea behind Mahir's creation came when he found himself having trouble juggling his role as owner of both businesses. But through reflected thought, he understood what needed fixing within current systems and developed Digno to disrupt this inefficient process for employers everywhere.

 

Advice to Other Founders

Be influenced by other companies.

One day, he was checking his score and realized how Credit Karma automatically ensures his balance is paid off on time and even ensures he opens another credit card, so his score goes up. They got influenced by these companies through the psychology and habits of paying on time and later founded Digno.


Learn from your experience.

When faced with the challenge of managing 30 people, he found that his experience helped him. He made the best of it and developed a dashboard where they could generate one score by measuring all their calls, tasks completed, and communication with their colleagues.


Be a perfectionist.

Never stop striving to improve and be better every day. In Mahir's case, he delayed their marketing launch so they could get some people on board who would test it out before releasing the final product. As a result, they got an 85% conversion rate and gained new customers primarily because of this extra effort during development time.

 

Bonus

  1. Mahir's favorite business book is "Atomic Habits" by James Clear.
  2. He's studying many CEOs, but the biggest one is Elon Musk.
  3. Looking back in his 20s, he wished he had learned from his mistakes, had good habits, measured himself, and been better every day. 


TL;DR

Digno helps you get more from your employees through a system that enables you to understand what will make them productive. Mahir used it on his own employees at one of his other businesses, and now, Digno just broke $45k a month in revenue. Launched under a year ago, all wholly bootstrapped. Today, they have a team of 10 full-time and some outsourced engineers — hoping to break a million-dollar run rate.

 

P.S. Here is a link to the full interview if you are interested in listening to the full episode: How he bootstrapped to $45k MRR in under 6 months for employee engagement SaaS

 

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See you again next week.


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