Patrick Campbell, the founder and CEO of ProfitWell, shares his journey of bootstrapping a $200 million business. He emphasizes the importance of aligning team values, effective pricing strategies, and customer retention. Campbell discusses the critical role of customer research in driving growth and offers practical advice for scaling SaaS companies without losing sight of their core values. He also highlights the need for face-to-face interactions to better understand customer needs, along with the significance of navigating cultural assessments in hiring.

Patrick Campbell, founder of the $200M ProfitWell, joins the conversation to explore business trends ripe for investment, such as rising interests in sports betting and the impact of societal issues. He shares innovative frameworks like the Bezo's Number and Product Remix, emphasizing the importance of smart pricing strategies. Listeners will learn about the surprising secrets of the ultra-wealthy, from effective to-do lists to mindful spending leading to happiness. Campbell also discusses the elusive concept of financial freedom and shares his insights on business success.

Patrick Campbell, Founder and CEO of ProfitWell, joins for a growth model breakdown of Loom's acquisition by Atlassian, discussing growth loops and environmental loops. Also, he shares insights on Unity's pricing change, AI's monetization challenges, and the impact of the macroeconomy on software companies.

Patrick Campbell, Founder and CEO of ProfitWell, shares insights from the innovative subscription metrics business and the surprising profitability of the quilting industry. He discusses the unique community dynamics of quilting and the growing engagement among younger demographics. Patrick also dives into unconventional business strategies, like leveraging competitive espionage and ethical debt purchasing. The conversation takes a quirky turn with a glimpse into a person’s hostile takeover—might just leave you intrigued and entertained!

Patrick Campbell is an entrepreneur. He sold his company ProfitWell for $200 million to Paddle in May 2022. 0:00 Intro 1:22 What Happened After You Sell Company For $200 Million? 6:29 Psychiatry Experiment (To Learn More) 17:01 Why Was It Difficult For Patrick To Accept Himself? 21:21 Is $200 Million More Important Than Self-Love? 28:29 High Output Marriage 30:30 “We Forget How Much Agency We Have” 36:32 Your Job Is To Figure Yourself Out 39:50 Align North Star Vision With Day-To-Day Actions 44:19 Negative Fuel? 50:34 How To Face Insecurities 53:49 How To Get Health In Order 56:39 Long Term Vision 58:52 Defense, Debt, Politics, Healthcare 1:05:40 $1 Billion Vs. 1 Billion Viewers? 1:11:11 Patrick’s Current Content Strategy 1:22:01 Patrick’s Scoreboard Notion Template 1:28:02 Common Themes Of Success 1:36:09 Challenge Patrick's Links Twitter: https://twitter.com/Patticus Website: https://patticus.ck.page/twitter My Links ✉️ Newsletter: https://dannymiranda.substack.com 🎙 Podcast: https://anchor.fm/dannymiranda 🎥 YouTube: https://youtube.com/dannymiranda 🐣 Twitter: https://twitter.com/heydannymiranda 📸 Instagram: https://instagram.com/heydannymiranda 🕺 TikTok: https://tiktok.com/@heydannymirand

Join Patrick Campbell, founder and CEO of ProfitWell, a leader in SaaS profit optimization, as he unpacks the nuances of pricing strategies. He shares how effective pricing drives growth and retention, the challenges startups face, and the role of data in shaping pricing models. Patrick also touches on the delicate balance of transitioning loyal customers during pricing changes and offers insights from his own entrepreneurial journey of bootstrapping ProfitWell without venture funding. Get ready for a masterclass in monetization!

This week I chatted with Patrick Campbell about his exit of ProfitWell to Paddle for $200 million. One of the most mind-blowing things that I experienced during that conversation was hearing Patrick tell me that he feels he needs to build something else to prove that his exit -$200 million- was not just a fluke.I did not expect that, but I should have because I feel the same way all the time. And the more founders I talk to, whatever stage of their journey they might be on, I hear them tell me the same story too. Whether they just started out or sold their business for millions a few years ago, they still struggle with who they are, what they should be doing, and proving themselves and their worth to others.00:00:00 Intro00:00:29 Sponsor00:01:44 Introduction00:02:50 Balancing Parenting & Business00:04:58 Overthinking00:06:22 Addictions00:08:03 Dealing with Failure00:09:45 Not delegating can lead to anxiety00:11:13 Burnout & Dreading Loss00:12:49 Navigating imposter syndrome when others appear successful00:14:44 Second-guessing decisions and dealing with incomplete data00:16:29 Underestimating and Judging Yourself00:18:14 Debilitating Shiny Object Syndrome 00:19:54 Feeling guilty for taking a break00:21:09 Underwhelming Sales00:24:03 Outro- Founder Mental Health Pitfalls- Find your Following, my Twitter course — now with Find your Following Essentials, the 7-day Twitter crash course- Zero to Sold & The Embedded Entrepreneur, my books on entrepreneurshipThis episode is sponsored by Senja.You can also watch this episode as a video on YouTube.

In this discussion, Patrick Campbell, Founder and CEO of ProfitWell, shares the inside scoop on his company's $200 million acquisition by Paddle. He offers insights into the intricate negotiation process, emphasizing the crucial roles of communication and trust. Patrick discusses the challenges faced by bootstrapped companies and the strategic decisions that led to his successful exit. He also dives into SaaS pricing dynamics and the importance of customer retention, especially in a fluctuating market. Tune in for valuable lessons on growth and acquisition!

Patrick Campbell, founder of ProfitWell, discusses the importance of finding root causes in startups, the significance of pricing and churn for growth, and shares how he grew ProfitWell to over $10M/year. Also explores critical thinking, problem analysis, re-educating the market, value metrics for pricing, and building founders' truths.

Welcome to another episode of the Product Thinking podcast. This week, host Melissa Perri is joined by Patrick Campbell, CEO of Profitwell. They discuss all things pricing, diving deep into the psychology behind pricing models and how to choose a pricing strategy. Patrick talks about the biggest mistakes businesses make when pricing, when and how often you should be raising your prices, how to align your price changes with your value metrics and communicate those changes to customers, and more.  You’ll hear Melissa and Patrick talk about: Patrick's team developed a financial analytics product and decided to give it away for free in order to get more data and improve their algorithms. 37,000 companies have used it in the past seven years. Patrick's company was acquired by Paddle for $200 million in May 2022, with a mission to grow subscription companies automatically. Pricing is a core competency for a business and should not be treated as a quick task to be done and moved on from. It is the very essence of a business as it represents the value of a product or service and how it is perceived by customers. Businesses should experiment with monetization once per quarter and raise prices once per year. Raising prices too often can lead to customer churn. However, this eventually normalizes as ‘fence-sitting’ customers leave. Make sure your price increase is justified by the value you provide to the customer. Align your pricing with a value metric, such as revenue. Packaging and pricing go hand in hand and can be thought of in terms of charging different prices for different pieces of value of the product. Sustaining a social media platform like Twitter is difficult, and it can be hard to monetize. Adobe's move from selling Photoshop for $1,000 to a subscription model of $32 a month was an "eye-opening" change that allowed for more investment in the product. It's important to get the finance team aligned with the move to a subscription model, as costs will initially go up and revenue will initially go down. Pricing is a whole company problem, not just a product problem. Resources Patrick Campbell Website | Email | LinkedIn ProfitWell