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Will Fraser: The creation of Saasquatch in FIVE short days, from decision to pivot, creating a new product and first paying client.

Will Fraser founder SaaSquatch.com
Today we are talking to Will Fraser founders of Referral SaaSquatch a Customer Referral and Refer-a-friend Software Platform.
And today we are going to be talking about a massive pivot from a business that was not creating enough revenue to deciding to pivot and signing on full paying customer before writing a single line of code.
We are going to be talking about how SaaSquatch was created in Five short days, the importance of company culture, and customer discoveries.

What you will learn

  • How SaaSquatch can help any SaaS business great growth at the cost that ensures your new customers are profitable from day one.
  • Flexibility in your referral awards, testing, and growth without having to involve your development team.
  • How referred customers cost your business less and end up staying longer than customers acquired through pay per click campaigns.
  • How Will started his entrepreneurial career at age 13 offering services for computer repair, later on in college helping build fundraising conferences?
  • Looking for a job after graduation in 2008, at the big economic downturn, Will took the opportunity to join a fresh startup.
  • How Will in his first job at a fresh startup helped pivot the business into a new product, new customers, closing sales … in just five days.
  • How the retrospective exercise helped identify what they were great at and decided to start a “BlueSky Week” to reimagine the business, involving everyone, pitching for each other, evaluating and running the process again for 2 days.
  • Day 2 – At the end of day two days, they have two ideas that the entire team were excited about but needed to be tested.
  • Day 3 – Start selling the product, without any details of the product and no real product.
  • The only thing that would be accepted as “sales” would be convincing the client to pull out their credit card, ready to pay.
  • How Will realized that people have far more competencies than he would have never realized without the “BlueSky” week.
  • The importance of “environment” and “culture” in a team to boost creativity, big ideas, and energy.
  • How Will started building SaaSquatch together with the customer, one customer at a time, from scratch.
  • Creating industry terminology, in articles, out of a need, lead to a major tech company to reach out and requested SaaSquatch to submit a bid for a proposal round.
  • “Strong opinion held loosely” means to us that it’s key to us to listen to the customers when we purpose our vision.
  • Clients are using SaaSquatch for different purposes other than just referral program, e.g. to handle the multitude of different “currencies” and keep track of currencies for each customer. A great example of how the product evolves with constant client communication.
  • How SaaSquatch have experimented with difference billing models and ended up with the subscription model based on feature and usages levels.
  • According to Will, the average referrer will refer 3-5 friends.
  • What next for SaaSquatch a Growth Automation Suite: Special offers and promotion platform

Quotes mentioned by Will Fraser

 

Resources

2 Comments

  1. Will Fraser on 04/02/2018 at 9:34 PM

    Soren, Thanks for the wonderful time on your show.

    • Soren Skovdahl Hansen on 05/01/2018 at 10:59 PM

      I’m excited for the opportunity to share your amazing story of creating the SaaSquatch idea and validating such a grand product in five short days. We clearly over complicate the task of creating our product, let alone a BIG idea like SaaSquatch. You have moved the needle of how to do that, Will. Amazing.

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