Clicky

Strategies Startups Should Leverage to Cross The $10Mn ARR Milestone

Published on May 18th, 2022

Share

Scaling up can be a make-or-break moment for your company and it comes with its own challenges.  As a founder, if you scale your startup too quickly or recklessly, you might end up creating hard-to-undo organizational problems.

We had a conversation with Udit Goenka, founder & CEO of SaaS marketplace PitchGround.  Udit shares glimpses of his journey and strategy to scale PitchGround to more than $1Mn ARR. He also shared his plans for the next milestone of $10Mn ARR and beyond. Udit is the marketing mastermind behind Power Up Hosting, GoPBN, FunnelBake, and PitchGround and we reached out to him to discuss the various new-age challenges when it comes to scaling a SaaS Platform, remote work, and company culture.

Watch the complete podcast here.

Being in the swamp lets you know the dangers it carries. Udit has been working in SaaS for the last decade and has witnessed that only 8% of the SaaS companies succeed after three years, and a generous percentage of those have negative cash flow. SaaS is an industry that has been consuming a lot of capital worldwide. Udit placed his bet with a solid backbone, being a founder in his early life, with a lot of self-belief, and launched PitchGround (a unique platform that bridges the gap between Entrepreneurs, Marketers, Founders, and early adopters) on 25th Sept 2018.

Here are the top 5 learnings from our conversation with Udit

  1. Hire the right people to work with you
  2. Focus on marketing. Use different social media platforms and test what works best for your business
  3. Frequent webinars are a great way to connect with your audience
  4. Build your personal brand to infuse trust towards you and your company
  5. Company culture is important for employee retention

How to Overcome Scaling Challenges?

The Right Workforce

Udit’s team is spread out globally, which he considers more close to him than his family. Oscar, one of the co-founders at PitchGround has been his colleague for a long time. In contrast, Lucas, the current CTO, was one of the first customers of PitchGround, who later joined the company.

Customer Acquisition at Pitch Ground

Performance marketing has always been a robust customer acquisition channel at Pitch ground. The founder once had to max out the 10 lakh INR credit limit on a couple of his credit cards, but all that worked out when they made sales worth $350,000 in the first year. They initially focussed on Facebook and later shifted to LinkedIn and Twitter. However, even today, about 43% of the sales come from Facebook!

The Webinar Method – Unique USP

The USP of PitchGround has been the personal connection they can achieve with the customers through the webinars. “I don’t deserve the sale if I cannot cater to the customers personally,” says Udit when questioned about creating pre-recorded sessions. The webinars focus on products, product automation, and solving business problems. Almost three webinars are conducted in a week. It needs energy and dedication.

We teach how to use software across channels and minimize the human resources you will need. Humans should act as intelligence and not do repetitive jobs.

Importance of Personal Branding

Personal Branding came very late in my life, but now it makes sense to share my lessons, however crude they might be. If a brand tries to tell a story, it’s trying to sell you. You won’t connect. When I come and tell you my story, chances of you listening to me are way higher!

For any founder to build trust in the market, branding himself, interacting with his community, and showing up regularly is the key. Build a value proposition around what you know. Start with a personal story and give out facts and reality.

Company Culture and Hiring

Hiring plays a vital role in the growth of your company. In the initial stages, emphasis should be given to the character and the person’s attitude. Hiring should be done mainly from the community, just like PitchGround did. At the start, their team was lean, now, when the foundation has been built upon a concrete team, the hiring focuses more on the skills. Additionally, the company culture stands on the solid documentation and the in-depth processes created to facilitate everything. Especially when it comes to remote work – communication is the key.

Schedule a Personalized Strategy Session to Get More MQLs!

Ebooks

As the top choice for SaaS SEO, we believe in delivering quality results with the best suitable SEO Packages. It is proven that the top 3 results in Google get 92% of the traffic so we have a team of passionate digital marketers who are experts in search engine optimization.

The Ultimate Guide to Keyword Research and Content Strategy 2022

EBOOK

The Ultimate Guide to Keyword Research and Content Strategy 2022

The Advanced Guide to Analytics and Ranking 2022

EBOOK

The Advanced Guide to Analytics and Ranking 2022

The Advanced Guide Link Building For SaaS 2022

EBOOK

The Advanced Guide Link Building For SaaS 2022

The Ultimate Guide to SaaS SEO Audit 2022

EBOOK

The Ultimate Guide to SaaS SEO Audit 2022

Become a Part of the
FirstPrinciples Family!

At FirstPrinciples, we empower our people to express ideas that drive success. Our open and collaborative work culture motivates our people towards building their dream career.

I’m Happy to join!