Building SaaS Giants - Alex Theuma - Not Another CEO Podcast - Episode #6
Aug 27, 2024
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In this talk, Alex Theuma, Founder and CEO of SaaStock, shares his journey in creating a thriving SaaS community. He emphasizes the transformative power of having an executive coach, especially during the challenges of COVID-19. Alex discusses the importance of community building and how SaaStock evolved from content creation to large-scale events. He also reflects on the risks of founder-led businesses and the significance of hiring mission-driven teams. Additionally, Alex opens up about balancing personal health and professional growth.
Investing in an executive coach significantly enhanced Alex Theuma's leadership skills, particularly during the challenging COVID-19 period.
Building a thriving SaaS community began with engaging content and evolved into successful large-scale events based on community需求.
Navigating the pivot to virtual events during the pandemic demonstrated the importance of agility and resilience in business operations.
Deep dives
The Impact of Executive Coaching
Getting an executive coach significantly improved the leadership skills of the guest, who realized the importance of personal growth alongside professional responsibilities. After years of focusing on the needs of others in his SaaS community, he recognized the necessity of investing in his development as a founder and CEO. This decision was crucial, especially during challenging times such as the COVID-19 pandemic, which tested his capabilities as a leader. The continued coaching helped him navigate through that difficult period, demonstrating that prioritizing personal growth can profoundly influence professional success.
The Power of Community Building
The guest built a thriving SaaS community by initially engaging through blogs, podcasts, and meetups before organizing large-scale events. This incremental approach allowed him to understand the specific needs of his audience, eventually leading to successful conferences. The audience's engagement highlighted a significant demand for connection among SaaS entrepreneurs and drove the success of events like SaaS Stock. As the community grew, it served as a foundation for various initiatives, illustrating that listening to and nurturing community needs can result in sustainable business growth.
Navigating Challenges During COVID-19
The COVID-19 pandemic posed one of the greatest challenges to the SaaS Stock business model, which relied heavily on in-person events. With a quick pivot to virtual events, the guest and his team managed to adapt and preserve the community’s needs during such an uncertain time. Despite initial fears of business failure, the virtual conference turned out to engage even a broader audience than anticipated, reflecting the community's resilience and adaptability. This experience reinforced the idea that agility in business operations is essential during unexpected global events.
Balancing Work and Personal Life
Initially, the guest struggled with achieving work-life balance, often feeling detached from family responsibilities due to business demands. However, over the years and with the help of coaching, he learned to be more present during family time while managing a healthy work schedule. By prioritizing dedicated time for family and intentionally disconnecting from work during evenings and weekends, he found increased fulfillment both at home and work. This shift emphasizes the need for leaders to be mindful of their personal lives to sustain long-term productivity and satisfaction.
Future Aspirations and Growth
Looking ahead, the guest expresses excitement about scaling SaaS Stock into a global leader while also nurturing the newly launched venture fund, Back Future. He aims to support other founders and entrepreneurs in the SaaS community by providing investment opportunities, establishing a legacy that extends beyond his own contributions. The ambition to grow both SaaS Stock and the venture fund reflects a strong entrepreneurial spirit focused on amplifying the success of others. This dual focus not only serves his personal vision but also contributes to the broader SaaS ecosystem, embodying a commitment to fostering innovation.
Joining the show this week is an entrepreneur with a work ethic that is second to none. Dedicating himself to helping SaaS companies grow and supporting founders, this guest is none other than the founder and CEO of SaaStock, Alex Theuma.
Alex joins host David Politis to discuss his journey building the largest SaaS community in the world. Alex examines the importance of having an executive coach, the benefits of growing your community, and the risks of a founder led business. He delves into the significance of hiring a mission-driven team and how SaaStock overcame Covid-19.
Takeaways:
The Impact of an executive coach. Alex spent much of his early time in SaaStock helping other entrepreneurs, but wasn’t helping himself in the same way. Having an executive coach allowed him to navigate the company through Covid-19 and grow to be a better leader.
Community building first. SaaStock started as a collection of blogs, podcasts, and chat groups dedicated to supporting founders. It wasn’t until he received overwhelming support and a desire for more that the conferences began and a business formed around it.
Growing into the future. In addition to the conference, SaaStock has begun expanding to better fill the needs of founders. This includes a membership to build a SaaS focused YPO and a fund to help support founders financially as well.
Risks of a founder led business. When a founder’s identity is closely attached to the business, the overall impact and growth potential of that business is at risk if the founder decides to step away.
Building a mission-driven team. The work that SaaStock does, especially in events, is both hard and rewarding. Having a team that is motivated by that reward and aligns with company values is crucial in building a successful team.
Overcoming Covid-19. Covid-19 brought in-person events to a halt and threatened the stability and cash flow of SaaStock. They were able to quickly pivot and became one of the first start-up events to hold a virtual conference, running for two days to capture the global community.
Quote of the Show:
“When you're there and you see the smiles on the faces and you see the value that people are getting from it, it does energize you.” - Alex Theuma