Practical Founders Podcast

Scott Desgrosseilliers, founder and CEO of Wicked Reports, shares insights from his journey in building a bootstrapped SaaS company focused on marketing attribution for SMBs. He discusses the complexities of identifying effective marketing strategies, the importance of high-quality data, and the potential pitfalls of VC funding. Scott emphasizes resilience and strategic decision-making in overcoming challenges like near-failure moments, navigating SaaS financing, and fostering sustainable growth while enhancing customer engagement through data-driven insights.

Bryan Forrester is CEO of Boostlingo, a leading on-demand platform for language live interpretation services that is growing quickly and can become a very large company. Boostlingo now has 160 employees and over 17,000 language interpreters who use their software to manage jobs, coordinate schedules, deliver interpreting services, and get paid. Bryan raised some practical funds from angels to start the company in 2016. The company grew 50% or more every year since then. In 2021, Boostlingo raised a growth equity round of funding from Mainsail Partners to provide capital for efficient growth and buy out some early investors. Boostlingo has since made several small acquisitions.  Quote from Bryan Forrester, CEO and co-founder of Boostlingo "Our customers love our software, and our NPS is very high. So when we have customers who love our software, we have high retention and low churn, and our customer costs are really good. When all of that is combined, why would you slow down the growth? "Why would you take your foot off the gas pedal and be very profitable? And we raised a growth equity investment from Mainsail and started spending more on efficient marketing. And it worked. It worked. "What would have happened if we didn't take that small investment with our growth equity partner? We could still have had a positive outcome. We may have already sold the business. But we wouldn't have grown as big as we have become in this very big market." Links Bryan Forrester on LinkedIn Boostlingo on LinkedIn Boostlingo website Mainsail Partners website Podcast Sponsor - Cypress Growth Capital This week’s podcast is sponsored by my friends at Cypress Growth Capital. For 15 years, Cypress has provided non-dilutive growth funding to bootstrapped SaaS founders, including many successful founders I’ve interviewed here on this podcast. The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com/newsletter.

Jason Fried, co-founder and CEO of 37signals and author of 'Rework', discusses the 20-year journey of Basecamp, emphasizing simplicity and essential tools for project management. He highlights the importance of bootstrapping and avoiding VC funding to maintain profitability and freedom. Fried explains why Basecamp caters to small businesses rather than chasing enterprise clients, advocating for the adaptability of software to user needs. He also shares insights on balancing efficiency with creativity while fostering innovation in remote work environments.

    Quote from Russ Perry, founder and CEO of Design Pickle “The game for practical SaaS founders really comes down to recognizing that there is a large market size for very boring niche companies. Finding that niche is the fastest path to success. Don’t be afraid to be boring and specific.  “If I were to do Design Pickle all over again, I would have just picked a vertical niche, like we are the graphic design provider for feline mobile cutting trucks or something. There are easily 10,000 mobile pet grooming businesses in the United States, so probably just cat groomers. “We just went super broad when we started, and it’s been fine, but it would have been easier for us to have focused on a niche. When you have such limited resources and time and money and capital, having that narrow niche makes it easier to maximize all those dollars and investments.” Links Russ Perry on LinkedIn Design Pickle on LinkedIn Design Pickle website Colorado River Partners Podcast Sponsor – Full Scale This week’s podcast is sponsored by Full Scale, one of the fastest-growing software development companies in any region. Full Scale vets, employs, and supports over 300 professional developers, designers, and testers in the Philippines who can augment and extend your core dev team. Learn more at fullscale.io. The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com/newsletter.

Sunando Bhattacharya, Co-founder and former CEO of Apiculus, shares his journey from IT services to a thriving cloud technology venture. He discusses the challenges faced while transitioning to a product-first model and the strategic acquisition by Yotta. Key topics include India's tech evolution, the significance of strong team culture, and navigating the COVID-19 pandemic's impact on business strategy. Sunando emphasizes the importance of understanding customer needs in emerging markets and the resilience needed to thrive in entrepreneurship.

Steve Wolfe and Nate Grossman, co-founders of Growth Street Partners, discuss how growth equity funding enables SaaS founders to maintain control while securing investment. They share insights on the 'learn-it-all' mindset crucial for success, emphasizing adaptability and strategic partnerships. The duo explores how founders can achieve multiple exits while building strong teams for scale. Highlighting real-world examples, they differentiate growth equity from traditional investment routes and stress the importance of founder-investor alignment for sustainable success.

Raj Bhaskar is the co-founder and CEO of Hurdlr, an innovative embedded accounting software provider that has supported over 1.3 million small businesses. In this conversation, he shares the journey of growing Hurdlr sustainably over 13 years, emphasizing strategic pivots and the transition to a subscription model. Raj discusses the importance of user-friendly solutions tailored for small business owners, the shift from direct sales to embedded systems, and his vision for the company's next decades, all while maintaining a strong service culture amidst competition.

Vince Hsieh, a two-time entrepreneur and general partner at Cypress Growth Capital, shares insights on royalty-based funding, which he successfully used to grow Geoforce without diluting equity. He compares his experience with previous VC rounds, highlighting how non-dilutive financing accelerated growth and saved millions in equity value. The conversation delves into the nuances of funding options for tech startups, stressing the importance of maintaining ownership while navigating strategic investments and aligning with supportive investors. Vince's journey illustrates innovative approaches to scaling ventures efficiently.

In this engaging discussion, Bill Spruill, former CEO and co-founder of Global Data Consortium, shares insights from his journey in identity verification. He reveals the slow, challenging path to success, highlighting the critical pivot from address validation to a booming KYC service. Bill discusses the emotional rollercoaster of a $300 million acquisition and the importance of a frugal growth strategy. He also reflects on the hurdles of securing venture capital, especially for unconventional founders, and the value of strategic partnerships in a competitive landscape.

Troy Munson, CEO of Dimmo and serial entrepreneur, shares his journey from sales rep to successful SaaS founder. He discusses how he leveraged annoying gaps in the software demo process to create Dimmo, allowing buyers to evaluate products without sales chaos. Troy emphasizes fast-start entrepreneurship, testing ideas quickly, and enjoying the process without the pressure of permanence. As he navigates the challenges of building a valuable company, he reflects on the importance of adaptability and personal connections in elevating sales.