<p><a href="https://twitter.com/Patticus">Patrick Campbell</a> just sold his startup, <a href="https://www.profitwell.com/">ProfitWell</a>, to <a href="https://www.paddle.com/">Paddle</a> for $200 million.</p><p><strong>Highlights (go straight to 🔥 for the best stuff):</strong></p><ul>
<li>0:00 – "My problem is I'm always curious if other people are living a better dream than me."</li>
<li>1:30 – The major downside to bootstrapping is the lack of network</li>
<li>2:20 – Selling ProfitWell to Paddle, and integrating the two teams.</li>
<li>4:15 – How ProfitWell got started (2012)</li>
<li>6:00 – Initially three co-founders (<a href="https://www.crunchbase.com/organization/profitwell">Crunchbase</a>)</li>
<li>7:20 – Patrick's background (what he did before ProfitWell)</li>
<li>10:10 – What did bootstrapping ProfitWell look like? (How much did each founder invest?)</li>
<li>14:15 – Do you want to be a lifestyle company or a "big ass company?" 🔥</li>
<li>15:55 – What salary did Patrick pay himself? (<a href="https://twitter.com/patticus/status/1483879616058040320?s=21">Tweet</a>) 🔥</li>
<li>18:25 – Differences between Patrick (ProfitWell) and <a href="https://twitter.com/Shpigford">Josh Pigford</a> (Baremetrics) 🔥</li>
<li>21:45 – Should bootstrapped companies go freemium and try to "win the market?" 🔥</li>
<li>26:40 – The characteristics of your market determine most of your outcomes 🔥🔥</li>
<li>29:24 – "Don't underestimate the velocity and size of your market." 🔥</li>
<li>34:35 – What doe the average SaaS company spend on sales and marketing? 🔥</li>
<li>37:39 – Pricing your SaaS discussion 🔥</li>
<li>42:45 – Why competitors entering a new market can be better for your company. 🔥</li>
<li>47:10 – Should bootstrapped companies try to "own the market?" 🔥</li>
<li>52:10 – "We're in the second phase of SaaS: here's what's coming next." 🔥</li>
<li>61:53 – Did ProfitWell employees have equity?</li>
</ul><p><b>What should we talk about next?</b></p><ul>
<li>Twitter:<strong> </strong><a href="https://twitter.com/buildyoursaas">@buildyoursaas</a>, <a href="https://twitter.com/mijustin">@mijustin</a>, <a href="https://twitter.com/jonbuda">@jonbuda</a>, <a href="https://twitter.com/jsonperl">@jsonpearl</a>, and <a href="https://twitter.com/helenryles">@helenryles</a>
</li>
<li>Leave a review/comment <a href="https://www.podchaser.com/podcasts/build-your-saas-bootstrap-in-2-636493">on Podchaser</a>; it's like Reddit, but for podcasts.</li>
<li>Email us:
[email protected]</li>
</ul><p><b>Thanks to our monthly supporters:</b></p><ol>
<li>Jason Charnes</li>
<li>Mitchell Davis from <a href="http://recruitkit.com.au/">RecruitKit.com.au</a>
</li>
<li>Marcel Fahle, <a href="https://wearebold.af/">wearebold.af</a>
</li>
<li>Alex Payne</li>
<li>Bill Condo</li>
<li>Anton Zorin from <a href="https://www.prodcamp.com/">ProdCamp.com</a>
</li>
<li>Harris Kenny, <a href="https://introcrm.com/podcast/">Intro CRM podcast</a>
</li>
<li>Oleg Kulyk</li>
<li>Ethan Gunderson</li>
<li>Ward Sandler, <a href="https://www.memberspace.com/">Memberspace</a>
</li>
<li>Russell Brown, <a href="https://photivo.com/">Photivo.com</a>
</li>
<li>Noah Prail</li>
<li>Colin Gray</li>
<li>Austin Loveless</li>
<li>Michael Sitver</li>
<li>Paul Jarvis and Jack Ellis, <a href="https://usefathom.com/ref/EJPZOB">Fathom</a>
</li>
<li>Dan Buda</li>
<li>Darby Frey</li>
<li>Adam DuVander</li>
<li>Dave Giunta (JOOnta)</li>
<li>Kyle Fox <a href="https://www.getrewardful.com/?via=justin">GetRewardful.com</a>
</li>
</ol><br><p><em>Want to start a podcast on Transistor? Justin has a special coupon for you: get 15% off your first year of hosting: </em><a href="https://transistor.fm/justin"><em>transistor.fm/justin</em></a></p><strong>
<a href="https://www.patreon.com/jonjustin" rel="payment" title="★ Support this podcast on Patreon ★">★ Support this podcast on Patreon ★</a>
</strong>
