[SaaS Club] Bootstrapping a SaaS to 18 Million Users

Hey Reader

I hope you're doing well.

Here's a quick round up of what's been going on at SaaS Club:

🎧 Podcast

Bootstrapping a SaaS to 18 Million Users

In 2010, Payman was running a web design agency where he had been building mostly Flash-based websites for his clients.

After Apple dropped support for the Flash, Payman had the idea of building a similar tool for designers using HTML 5.

Once the tool was built, he organized a local focus group for designers. But not a single designer turned up.

But that turned out to be a blessing in disguise because it made him realize that he was building the wrong product for the wrong market.

So he set his sights on building an all-in-one design tool for people who weren't designers.

Although Visme grew slowly in its early years, Payman continued to focus on his agency business until 2018, when he finally went all-in with Visme.

Today, Visme has grown into a successful 7-figure business with 18.5 million registered users and almost 100 employees.

In this episode, Payman shares his journey of building Visme, the challenges he faced, and the mistakes he made along the way.

We discuss his experiences with content marketing and SEO, finding the right balance between great UX and monetization, competing with larger companies, and scaling the platform to meet the demands of a growing user base.

We also talk about Payman's efforts to differentiate Visme from its competitors and his lessons on pricing and marketing.

I hope you enjoy it.

Listen to the full podcast episode

🚀 Merge: The Unified API

Are you looking to accelerate your SaaS product roadmap, but your engineering resources are stretched thin? Is your sales team blocked by a lack of integrations? Merge can help.

Merge is the leading Unified API that enables you to launch integrations in days, not quarters. With 150+ integrations Merge allows you to authenticate, normalize and sync data easily. Plus, with a recent $55 million Series B, Merge is well-positioned to help you achieve your business goals.

Merge saves you time and resources and has been trusted by companies like Ramp, Drata, Assemble, and more. 

Try Merge today and see the difference for yourself

Get started for free.

📗 Book of the Week

This week's book recommendations are from Payman:

The Secret by Rhonda Byrne

The Stand by Stephen King

🧠 Insights

Bootstrapping vs Fundraising: 5 Questions to Help You Decide

Should you bootstrap or fundraise for your SaaS startup?

Every early-stage SaaS founder has to answer that question. It's easy to assume that fundraising is the only way to get things off the ground, but that isn't always the case. There's no right or wrong answer. Neither option is good or bad.

But one of them is more likely right for you.

That's why I've put together 5 questions to help you decide what's right for you.

1. How much do you need to get up and running?

You need money to get your startup off the ground and keep it going.

So you need to estimate your expenses, revenue projections, and how long it’s likely to take for your startup to make a profit (or at least cover its costs). And then you should ask yourself if your savings will give you enough runway.

Bootstrapping could be an excellent way to start if the runway is there.

2. What is the competitive landscape?

You must understand your startup’s competitive landscape.

Pinpoint your competitors, determine your unique value prop, and assess how you will acquire customers. By doing this, you’ll be able to understand if bootstrapping is a viable option. On the other hand, it may make you realize that you won’t stand a chance of being noticed without fundraising.

Your competitive landscape may force your funding decision.

3. What's your growth plan?

A growth plan will help you decide whether to bootstrap or fundraise.

You should set a specific revenue goal and determine what resources you'll need to get there (and how fast). Fundraising could be a good option if you're confident that your business can scale quickly. Alternatively, if you can grow a sustainable business over time with less money, bootstrapping may be the better option.

A realistic growth plan will help you make an informed decision.

4. What are your personal goals?

You should consider your personal goals when making a funding decision.

Take the time to clarify what's important to you. What's your desired level of control, aspiration, and preferred work-life balance? For example, if keeping control of your company is a top priority, bootstrapping may be the better option. On the other hand, fundraising is necessary if you want to achieve significant growth quickly.

You'll make a better funding decision by keeping your personal goals in mind.

5. What's your risk tolerance?

Your funding decision should align with your level of risk tolerance.

This is important when deciding between bootstrapping and fundraising because the two options have different levels of risk. For example, bootstrapping may be the better choice if you have a lower risk tolerance, as it can help you avoid taking on significant financial risk. On the other hand, fundraising may be necessary to achieve the desired returns if you have a higher risk tolerance and want to pursue significant growth.

Understand your risk tolerance to make the right decision for you.

I hope these 5 questions help you get clarity on the right path.

🌐 Around the Web

YouTube Channel

We've started  posting daily highlight clips from interviews.

So if you don't have time for the full episode, you can get 'bite-size' insights in a few minutes every day.

Check out our YouTube channel here. 

😍 Let's Get Social
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Have a great week!

- Omer

Interested in sponsoring The SaaS Podcast? Learn more here.


P.S. whenever you're ready, here are 3 ways I can help you:

1. SaaS Club Plus: We're re-launching a brand new paid community for SaaS founders with an exciting new offering. Join the waitlist!

2. SaaS Club Accelerate: Our flagship 12-week coaching program will give you clarity, focus & support to get breakthrough results faster.

3. SaaS Advisor: Get the personalized attention and expert advice you need to make smart, confident decisions to grow your SaaS business.