In this episode of SaaS Origin Stories, Jose Cayasso, CEO and Co-Founder of Slidebean, joins Phil Alves to discuss how to bounce back after founding a failed SaaS startup and start over the right way.
All founders dream that their business will skyrocket and succeed from the very beginning, but the reality is that most will fail. However, this isn’t a reason to give up. When you bounce back and start again, the story can repeat itself unless you learn the lessons of your failure. That was exactly the case for Jose Cayasso of Slidebean, who shares his insights and learnings from re-starting a SaaS business after failing the first time..
In this episode, we discuss:
The Right Moment to Start a Business
Before Slidebean, Jose left college and founded a startup that failed, which was when he started Slidebean. However, Jose believes that starting another company immediately after you fail is a bad idea because you focus on generating revenue quickly rather than following your business interests. For him, the best time to start a new business is once you’re an expert in an industry and discover a problem or opportunity. Then you can work on your company from a position of comfort rather than risking everything you have.
I think the best companies get started when you have a job and discover something in the market that you have unique insight and expertise to solve. But you can do that from a position you can question this concept, whether it's a good or a bad idea - Jose Cayasso
Let Your First Product Do Its Job
The original version of Slidebean was simple, yet it served its purpose well. That’s a great strategy for building the first version of your product, in that it solves a specific problem for your customers. After that, you can develop it, add new features, and customize it for your clients.
The original product was so simple, and I loved it. We came up with the concept that you could only build a slide with one piece of content and make a simple but beautiful presentation - Jose Cayasso
Running an Effective Customer Acquisition Strategy
In a market where you have to compete with Prezi and PowerPoint, Slidebean started acquiring customers through organic reach, which proved ineffective. That forced the team to rethink the pricing and conversion funnels and opt for paid direct marketing acquisition channels, which feeds you customers quickly to test with and adjust your strategy.
Any startup, any SaaS company, especially B2B, should first focus on getting profitable unit economics via paid marketing. It's an equation of running ads, understanding how much those ads cost, and understanding the revenue that those ads generated or the conversions that those ads generated are enough to pay for the cost of the service, the software, and the cost of acquiring those customers - Jose Cayasso
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