Andrew Rogoff is the founder of ResourceGuru.com, your service for easy scheduling of people, equipment, and other resources.
While working in digital agencies as project manager and account manager he started Stags & Hens (dot) com for women and men looking to engage in cool Events & Activities with friends.
In this episode we are going to be talking about starting your journey with a side gig, discovering the awesome idea, getting funding, developing an attractive product and the challenging life of a SaaS entrepreneur.
What you will learn
- Try to find something that is a problem to you and build a solution for that, which helps to more easily understand your target customer.
- Be critical of your own idea … who is the customer and how will this make money
- How Seed and VC’s told Andrew that he was building a product to a problem that didn’t exist.
- Product validation, make a clickable prototype and validate with your target audience before building anything. Recorded all validation meetings which he used in the pitching for VC’s.
- Initial funding of ResourceGuru was through friends and family, which is uncomfortable, so be sure you let them know that this money is most likely lost.
- Outsourcing initial development (Platform45)
- Building a teaser website to collect early signups for the product launch, generated 700 signups by launch time and gave immediate customers and revenue.
- How ResourceGuru created their lead funnel.
- The painful realization that a 12-month subscription option is important for a SaaS business.
- Understanding SaaS cash flow, ARR and MRR to control cost, hiring and predict revenue is critical for SaaS and critical for understanding how much you can pay for acquiring new customers.
- The decision process Andrew went through when deciding to operate with a distributed team, rather than an office.
- The journey of ResourceGuru is best described as a Roller Coaster ride, the need to be sturdy at heart, the breakdown of servers, taking money from friends and family, it’s hard.
- Being a SaaS entrepreneur is extremely stressful until you reach profitability, which took about 2 years.
- The Amazing list of Top Brands using ResourceGuru today is worth all the hardship.
Quotes by Andrew Rogoff
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