📂 The First $1k MRR (& Beyond): DepositFix

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This is The First $1k MRR (& Beyond), a series about how founders got traction for their startups, told by the founders themselves.

Product: DepositFix

Website: https://www.depositfix.com/

Founder(s): Denis Lunev

Launched: April 2017

Current MRR range: $10k – $100k

What does DepositFix do?

DepositFix is a payment solution that runs entirely on top of HubSpot.

It allows accepting credit cards and PayPal payments on any website and syncs all payment information to HubSpot CRM.

How did you get the first $1k MRR for DepositFix?

The idea for DepositFix was born when I was doing custom integration dev work, specifically for companies using HubSpot. Payment integration was requested by 3 clients who paid for custom implementation, so idea was somewhat validated.

The next thing I did was a round of “Sales Safari”. It’s a technique, that I learn from Amy Hoy and Alex Hillman at 30x500 (https://30x500.com/).

The main idea behind it is you observe your potential users in “the wild” - forums, online communities. You need to notice what they complain and ask questions about, what problems they describe and what language they use.

I did research on HubSpot community and related Facebook groups and found some signals that there might be some demand for my product.

Then, I started replying to related conversations and trying to get people on the call to show a demo of DepositFix. The forums were the main source of customers and leads back then.

Product-wise: I was saying “YES” to a lot of feature requests from early users, even if those features were super custom and not reusable by other clients (this path led to some problems later, but worked as a sales method in the beginning).

It took us 10 months to reach $1K of MRR.

How have you scaled DepositFix beyond $1k MRR?

Once we reached $1k MRR, we started paying more attention to the ‘service’ part of the business. That allowed us to close more deals, increase prices and accelerate the word of mouth.

HubSpot reps also send us a lot of deals to help them close new customers. We continue to invest in the HubSpot partnership and align ourselves with their customer's needs.

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