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Mar 1, 2022 · 22m · product-market-fit

How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show

Mike Potter · 15m spoken Pablo Srugo · 5m spoken
0:00 / 0:00
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In this episode of The Product Market Fit Show, Rewind co-founder and CEO Mike Potter shares how he and his team built a high-growth SaaS backup company as a side project over 18 months before transitioning full-time. He outlines practical strategies for validating product demand, managing part-time schedules, and scaling pricing without personal financial pressure.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Pablo holds 25.4% of the talking time here. How this is scored →

Pablo as informed peer 2.3 Guest teaching 1.5 Guest disagreement 1.2 Pablo pushing back 1.2
05100:0010:0020:001:26–3:59 · Pablo as informed peer 2/10 The Early Mindset and Initial Failed Side Project Pablo inquires about Mike's mindset when starting a side venture after a prior startup. Mike explains the psychological exhaustion from his first company and why he deliberately chose to keep a stable day job while tinkering.3:59–6:28 · Pablo as informed peer 2/10 Discovering Rewind and Validating the SaaS Backup Concept Mike details the pivot from an unsuccessful side app to the SaaS backup concept on Shopify. The interaction is conversational, with the host asking exploratory clarifying questions.6:28–10:22 · Pablo as informed peer 3/10 Free Launch Strategy and Building Early App Store Reviews Pablo asks about validation tactics and balancing early fatherhood with a side startup. Mike outlines the deliberate strategy of launching for free to accumulate critical 5-star app store reviews.10:22–15:42 · Pablo as informed peer 4/10 Treating Startup Growth as an Experiment and Pricing Strategy Pablo and Mike discuss the strategic advantages of low-pressure side building versus venture-backed urgency. Pablo offers a sharp framing of early startups as experimental projects rather than formal companies, which Mike validates with pricing test data.15:42–21:52 · Pablo as informed peer 3/10 Transitioning Full-Time and Establishing Sustainable Culture Pablo asks whether working strict 8-hour days was unique to Rewind's product or a deliberate countercultural choice. Mike explains their Basecamp-inspired philosophy of protecting family life and preventing founder burnout.21:52–22:49 · Pablo as informed peer 0/10 Episode Summary, Key Takeaways, and Conclusion Pablo delivers an episode wrap-up and summary monologue recapping Mike's journey before signing off.1:26–3:59 · Guest teaching 2/10 The Early Mindset and Initial Failed Side Project Pablo inquires about Mike's mindset when starting a side venture after a prior startup. Mike explains the psychological exhaustion from his first company and why he deliberately chose to keep a stable day job while tinkering.3:59–6:28 · Guest teaching 1/10 Discovering Rewind and Validating the SaaS Backup Concept Mike details the pivot from an unsuccessful side app to the SaaS backup concept on Shopify. The interaction is conversational, with the host asking exploratory clarifying questions.6:28–10:22 · Guest teaching 2/10 Free Launch Strategy and Building Early App Store Reviews Pablo asks about validation tactics and balancing early fatherhood with a side startup. Mike outlines the deliberate strategy of launching for free to accumulate critical 5-star app store reviews.10:22–15:42 · Guest teaching 2/10 Treating Startup Growth as an Experiment and Pricing Strategy Pablo and Mike discuss the strategic advantages of low-pressure side building versus venture-backed urgency. Pablo offers a sharp framing of early startups as experimental projects rather than formal companies, which Mike validates with pricing test data.15:42–21:52 · Guest teaching 2/10 Transitioning Full-Time and Establishing Sustainable Culture Pablo asks whether working strict 8-hour days was unique to Rewind's product or a deliberate countercultural choice. Mike explains their Basecamp-inspired philosophy of protecting family life and preventing founder burnout.21:52–22:49 · Guest teaching 0/10 Episode Summary, Key Takeaways, and Conclusion Pablo delivers an episode wrap-up and summary monologue recapping Mike's journey before signing off.1:26–3:59 · Guest disagreement 1/10 The Early Mindset and Initial Failed Side Project Pablo inquires about Mike's mindset when starting a side venture after a prior startup. Mike explains the psychological exhaustion from his first company and why he deliberately chose to keep a stable day job while tinkering.3:59–6:28 · Guest disagreement 1/10 Discovering Rewind and Validating the SaaS Backup Concept Mike details the pivot from an unsuccessful side app to the SaaS backup concept on Shopify. The interaction is conversational, with the host asking exploratory clarifying questions.6:28–10:22 · Guest disagreement 1/10 Free Launch Strategy and Building Early App Store Reviews Pablo asks about validation tactics and balancing early fatherhood with a side startup. Mike outlines the deliberate strategy of launching for free to accumulate critical 5-star app store reviews.10:22–15:42 · Guest disagreement 2/10 Treating Startup Growth as an Experiment and Pricing Strategy Pablo and Mike discuss the strategic advantages of low-pressure side building versus venture-backed urgency. Pablo offers a sharp framing of early startups as experimental projects rather than formal companies, which Mike validates with pricing test data.15:42–21:52 · Guest disagreement 2/10 Transitioning Full-Time and Establishing Sustainable Culture Pablo asks whether working strict 8-hour days was unique to Rewind's product or a deliberate countercultural choice. Mike explains their Basecamp-inspired philosophy of protecting family life and preventing founder burnout.21:52–22:49 · Guest disagreement 0/10 Episode Summary, Key Takeaways, and Conclusion Pablo delivers an episode wrap-up and summary monologue recapping Mike's journey before signing off.1:26–3:59 · Pablo pushing back 1/10 The Early Mindset and Initial Failed Side Project Pablo inquires about Mike's mindset when starting a side venture after a prior startup. Mike explains the psychological exhaustion from his first company and why he deliberately chose to keep a stable day job while tinkering.3:59–6:28 · Pablo pushing back 1/10 Discovering Rewind and Validating the SaaS Backup Concept Mike details the pivot from an unsuccessful side app to the SaaS backup concept on Shopify. The interaction is conversational, with the host asking exploratory clarifying questions.6:28–10:22 · Pablo pushing back 1/10 Free Launch Strategy and Building Early App Store Reviews Pablo asks about validation tactics and balancing early fatherhood with a side startup. Mike outlines the deliberate strategy of launching for free to accumulate critical 5-star app store reviews.10:22–15:42 · Pablo pushing back 2/10 Treating Startup Growth as an Experiment and Pricing Strategy Pablo and Mike discuss the strategic advantages of low-pressure side building versus venture-backed urgency. Pablo offers a sharp framing of early startups as experimental projects rather than formal companies, which Mike validates with pricing test data.15:42–21:52 · Pablo pushing back 2/10 Transitioning Full-Time and Establishing Sustainable Culture Pablo asks whether working strict 8-hour days was unique to Rewind's product or a deliberate countercultural choice. Mike explains their Basecamp-inspired philosophy of protecting family life and preventing founder burnout.21:52–22:49 · Pablo pushing back 0/10 Episode Summary, Key Takeaways, and Conclusion Pablo delivers an episode wrap-up and summary monologue recapping Mike's journey before signing off.

speaking balance: gold is Pablo, purple is the guest (3 minute bins)

0:00 · Pablo 47% · guest 53%0:00 · Pablo 47% · guest 53%3:00 · Pablo 12.7% · guest 87.3%3:00 · Pablo 12.7% · guest 87.3%6:00 · Pablo 27% · guest 73%6:00 · Pablo 27% · guest 73%9:00 · Pablo 15.3% · guest 84.7%9:00 · Pablo 15.3% · guest 84.7%12:00 · Pablo 24.7% · guest 75.3%12:00 · Pablo 24.7% · guest 75.3%15:00 · Pablo 14% · guest 86%15:00 · Pablo 14% · guest 86%18:00 · Pablo 23% · guest 77%18:00 · Pablo 23% · guest 77%21:00 · Pablo 49% · guest 51%21:00 · Pablo 49% · guest 51%
Sharpest disagreement ▶ 19:00 Countercultural pushback against startup burnout

Mike strongly rejects startup hustle culture, asserting that ruining marriages and working 14-hour days was strictly unacceptable for their team.

 Hardest push from Pablo ▶ 18:19 Challenging whether 8-hour workdays are realistic

Pablo presses Mike on whether an 8-hour startup workday was an arbitrary choice or uniquely enabled by the nature of Rewind's business model.

 Biggest teaching moment ▶ 6:43 Reframing free launches as review acquisition

Mike explains that offering Rewind for free wasn't a failure to monetize, but a deliberate growth hack to establish a dominant Shopify App Store review presence before charging.

 Pablo holds their own ▶ 13:13 Framing early startups as projects rather than companies

Pablo articulates an insightful conceptual distinction, showing that treating an early venture as an open-ended project rather than a formal company relieves destructive artificial pressures.
the scores for every segment, with the reasoning behind each
ChapterTopicPablo as informed peerGuest teachingGuest disagreementPablo pushing backWhy
The Early Mindset and Initial Failed Side Project 2211 Pablo inquires about Mike's mindset when starting a side venture after a prior startup. Mike explains the psychological exhaustion from his first company and why he deliberately chose to keep a stable day job while tinkering.
Discovering Rewind and Validating the SaaS Backup Concept 2111 Mike details the pivot from an unsuccessful side app to the SaaS backup concept on Shopify. The interaction is conversational, with the host asking exploratory clarifying questions.
Free Launch Strategy and Building Early App Store Reviews 3211 Pablo asks about validation tactics and balancing early fatherhood with a side startup. Mike outlines the deliberate strategy of launching for free to accumulate critical 5-star app store reviews.
Treating Startup Growth as an Experiment and Pricing Strategy 4222 Pablo and Mike discuss the strategic advantages of low-pressure side building versus venture-backed urgency. Pablo offers a sharp framing of early startups as experimental projects rather than formal companies, which Mike validates with pricing test data.
Transitioning Full-Time and Establishing Sustainable Culture 3222 Pablo asks whether working strict 8-hour days was unique to Rewind's product or a deliberate countercultural choice. Mike explains their Basecamp-inspired philosophy of protecting family life and preventing founder burnout.
Episode Summary, Key Takeaways, and Conclusion 0000 Pablo delivers an episode wrap-up and summary monologue recapping Mike's journey before signing off.

Statements from this episode (6)

Assertion Not publicly verifiable
Potter: Rewind Accumulated Dozens of Five-Star Reviews Before Monetizing
“When we did move to a paid model in January of 2016, so about six months after launch, We already had, you know, dozens of five-star reviews in the app store telling people that it was a great app, that they needed it.”
Mike Potter Mar 1, 2022 ▶ 7:30
Disclosure
Potter built Rewind working 8 PM to 1 AM after kids slept
“I think, you know, it was in the Tens of hours a week. And it was mainly after the kids had gone to bed. So it was eight to 12 to one in the morning sort of thing. Maybe occasionally waking up early and working on it as well.”
Mike Potter Mar 1, 2022 ▶ 8:25
Insight
Potter: Co-founders generate peer-driven momentum that solo founders lack
“Having one person do something and then feeling like, oh, I got to do something too. And then you do something and then you sort of feed off of that and you get a lot done. That certainly helped compared to, you know, my first startup when I was working on it …”
Mike Potter Mar 1, 2022 ▶ 9:46
Assertion Not checkable as stated
Potter: Rewind Rebuilt Architecture and Wiped Data Three Times
“We rebuilt the backup system like we wiped everybody's data. Three times in order to get to a system that, that we felt could scale up and scale out to handle all the load that we had.”
Mike Potter Mar 1, 2022 ▶ 14:46
Disclosure
Potter: Rewind co-founders transitioned full-time without taking any salary cuts
“Julian and I quit in February of, or I guess we quit earlier, but we joined rewind in February of 20 17. And then a couple of months went by and now we were making enough money where James can join us, you know, and none of us had to take a salary cut when we …”
Mike Potter Mar 1, 2022 ▶ 17:25
Disclosure
Potter: Rewind enforces eight-hour workdays and summer bi-weekly Fridays off
“And so that counterculture sort of extends from the product into the company, where we do things that most companies don't do, where we try and work eight hour days and not 12 or 14 hour days in a startup, where in the summertime we get every other Friday off …”
Mike Potter Mar 1, 2022 ▶ 21:22
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