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To me the lesson of 1,000 true fans is it often takes a lot less customers to hit your goals than you think. Example👇
Pagerduty: >$100m in revenue, 11,000 paying customers. ~10 years old, $170m in VC, netting 1,100 new customer per years = IPO🚀
Pagerduty: >$100m in revenue, 11,000 paying customers. ~10 years old, $170m in VC, netting 1,100 new customer per years = IPO🚀
Slack. Probably the fastest growing B2B product of all time. >$1B in VC war chest. Home run IPO. Basically every business is the target market. $600m in revenue. How many paying customers do you think?
85,000
85,000
Sure, 11k and 85k are big numbers, but start chopping off zeroes. Could you build a $6m/year business with 850 customers? Very Possibly!
If you build a targeted SaaS with $300/mo ARPU, how many customers does your gut think you need to get to $1m ARR?
It's 277.
If you build a targeted SaaS with $300/mo ARPU, how many customers does your gut think you need to get to $1m ARR?
It's 277.
... ... *fewer 🤦♂️
