Missive co-founder Phil Liu describes their lean operating model and organic customer acquisition strategy to Nathan Latka.
0:00 / 0:14exact quote · 14.9s
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“The rest is just like it's such a big space that even if it's just word of mouth and we're just a small team that it's really working out actually, because with the word of mouth, it's sustained our growth and we're just four guys and it makes good sense.”
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More from Phil Liu
Disclosure
Phil Liu: Missive ignores data and builds based on customer feeling
“We don't look at data. Actually, that's the simple strangest answer. I can like honest answer. It's like, we don't really look at data. It's just the feeling of our customer.”
Phil LiuMay 4, 2021▶ 15:26How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
Insight
Universal product churn is healthy if non-target users are the ones leaving
“When you're a company like us, the product is email. Everyone can use email. So there's a lot of people trying the product. And some of those will churn, and that's a good thing, right? Because we cannot be a solution for everyone. So if I only look at churn, …”
Phil LiuMay 4, 2021▶ 15:36How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
AssertionNot checkable as stated
Missive rejected three acquisition approaches by tech unicorns
“We had we were approached three times. And buy big let's say unicorns and more.”
Phil LiuMay 4, 2021▶ 18:46How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
AssertionNot checkable as stated
Missive rejected an all-equity acquisition offer from a $30M company
“It was equity and an equity. I don't know if it means much, but it was thirty millions in, in valuation from that business, but you had to believe that the equity.”
Phil LiuMay 4, 2021▶ 19:27How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
Disclosure
Phil Liu doubts Missive would accept a $10M all-cash acquisition offer
“I don't think so.”
Phil LiuMay 4, 2021▶ 19:47How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
Disclosure
Missive generated only about $3,000 in revenue during its first year
“First year of missive was like, ah, I don't know, not a lot of money. Like, I think like three K for the whole year.”
Phil LiuMay 4, 2021▶ 8:45How To Bootstrap to $1m with VC Funded Competitors With Just 4 People
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