Business By The Books with Danielle Hayden How Did Cameron Hemphill Scale a SaaS Business from $7K to $10 Million? - Ep 173
Even the most seasoned entrepreneurs have to understand their numbers if they want to successfully establish and scale a business. With 20 years experience, Cameron Hemphill is one of these entrepreneurs who has leveraged financial data to make strategic decisions and scale his SaaS business, Growth99, into a $10 million company — and it's still growing. During its first year, Growth 99 faced significant challenges, taking eight months to gain traction and generate just $7,000 in monthly recurring revenue. In this episode, Cameron shares how he scaled the company to reach $100,000 in monthly recurring revenue by their third year, enabling massive growth and paving the way for long-term success.
Cameron and host Danielle Hayden also discuss the importance of strategic hiring, technology in automating processes, and maintaining discipline over motivation. Learn how to buy back your time, reach your goals, and start enjoying your business!
Key Takeaways:
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Discipline is key to business growth and long-term success, especially during the slow early stages of scaling and achieving profit.
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Strategic hiring will help you delegate low-value tasks, allowing you to focus on reaching business goals and reclaiming your time.
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Automating processes with technology enhances scalability by lowering expenses and increasing efficiency.
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Bookkeeping is the foundation of business management, so it's crucial to regularly review key metrics and financial data in order to make strategic business decisions.
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Make your money work for you by managing personal finances and investing in income-generating assets.
Topics Discussed:
Cameron's money story and money mindset (1:38)
Founding Growth99 and the advantages of a SaaS business model (3:46)
Early challenges and growth of the business (6:00)
Building an effective team and his evolving role as a business owner (8:50)
Cameron's approach to understanding the numbers at Growth99 (12:02)
How Cameron uses financial data to make business decisions (18:48)
Personal financial management and investment strategies (22:57)
Connect with Cameron Hemphill:
Instagram | https://www.instagram.com/cameronhemphill/
Website | https://growth99.com/
Podcast | https://podcasts.apple.com/us/podcast/medical-millionaire/id1549585189
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting