The Revenue Formula
How to build a $5M SaaS with 3 people and no VC funding (With Esben Friis-Jensen)
Apr 29, 2025
43:02
After building a successful VC-backed company, Esben Friis-Jensen took a different path — bootstrapping his next SaaS startup to $5M ARR with just a team of 3.
In this episode, he shares why he turned down venture funding, how he built an efficient, product-led growth engine, and lessons on scaling smart without sacrificing ownership or speed.
- (00:00) - Introduction
- (00:32) - Meet Esben Friis-Jensen
- (02:30) - The Decision to Bootstrap
- (06:27) - Product-Led Growth Strategy
- (11:25) - Competing in a Crowded Market
- (18:54) - The Role of AI in Business Operations
- (22:08) - Efficiency and Execution in Small Teams
- (27:48) - Making Tough Decision
- (31:17) - Revenue Metrics
- (32:10) - Speed of Decisions
- (38:43) - Challenges and Benefits of Founder-Led Companies
- (40:49) - Joining a Bootstrapped Company
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