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7 years of trying and failing with SaaS: The road to 2,964% growth with Alexis Prenn, Receipt Bank
Description
According to Alexis Prenn, CEO and co-founder of Receipt Bank, SaaS is a bit like playing a video game — every 9 months or so you move to the next level. Each level is as difficult as the one before.
Alexis began playing the Receipt Bank game nearly 8 years ago. For the first three years, they went the bootstrapping way, not so much out of strong conviction to do so but because they were too hard on themselves. They feared rejection more than anything else.
The two co-founders believed that they had to make themselves a little more beautiful and their metrics a little better before they asked anyone for a penny. Eventually, both realised that this mentality was missing the point of what it means to be a growing SaaS company.
On February 10th, 2011 they decided to be serious and not make any more excuses. And pursue a realistic growth rate. Three percent at a time, Receipt Bank has reached 2,964% growth. It’s on a path to reaching $25 million ARR and has banked $65 million in funding.
Listen on to learn:
- How and when Receipt Bank became a serious company
- Why growth and retention are the only things that matter?
- Why you should avoid averages with metrics like the plague
- How to keep the growth mindset as the company scales
- How to choose acquisition channels
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