On this show I speak with Justin McGill from leadfuze.com about his plans for his SaaS company.
Leadfuze is the leading software platform for generating qualified leads on autopilot.
Justin started the business as a done for you service but always had the intention of pivoting into a software subscription model. He has recently opened a real world office in Phoenix Arizona and brought on Damian Thompson (a previous podcast guest on my previous podcast) as partner and Head of Sales.
A brief synopsis
We talk about how he’s built his team, how their customer focus has developed to now attracting agencies with their middle tier plan and how their software platform has developed to become the leading complete list build automation tool leveraging both AI and human copywriting.
Interesting to hear how they are building their plans built around personas of actual users, essentially creating 3 separate product experiences,
1) for those who just want their leads who have an existing sales team,
2) founders and agencies who want to offer the service to their customers,
3) hands on sales person.
Great to hear Justin break down a dream scenario based on an internal customer goal multiplied by an average revenue per user goal to give a monthly recurring revenue amount which could be used as the multiple for an exit (or a multiple of profit).
This level of transparency is critical to attracting top talent who can work out their expected return based on vesting a piece of the company.
We talk about whether it’s better to build a SaaS from scratch or to buy existing underperforming software and add marketing and sales chops.
Near the end we talk about what we would do post life-changing money and go into buying a major league lacrosse team and buying ski resorts and how the game of business is far more interesting than video games or poker (and why you should never play Noah Kagan at chess).
[This episode’s Patey’s Pledge: to say “very cool” less from now on]