Mark Smookler, founder and CEO of IdealSpot, forecasts the company's timeline to reach $1 million in annual recurring revenue.
0:00 / 0:05exact quote · 5.4s
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“Let's just, you know, conservatively speaking, let's just say we'll get there in the next six months.”
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More from Mark Smookler
Insight
Seed-stage startups should avoid restrictive feature gating to find product-market fit
“I don't think each stage companies can really get that discerning when it comes to their features. I think it's just right now a prove it point or trying to find product market fit.”
Mark SmooklerMay 31, 2018▶ 9:371041 From Sake to $1m ARR SaaS
Disclosure
IdealSpot aims to act as 'Google alerts' for commercial retail locations
“Things are always changing in the retail market and giving them the ability to be more reactive to what's happening is what we are hoping to do more and more of, right? So call it Google alerts for your retail location.”
Mark SmooklerMay 31, 2018▶ 13:161041 From Sake to $1m ARR SaaS
AssertionNot checkable as stated
Smookler reveals IdealSpot struggles with roughly 20% monthly customer churn
“I would say it's probably around 20%.”
Mark SmooklerMay 31, 2018▶ 17:101041 From Sake to $1m ARR SaaS
Insight
Self-serve conversion is much harder in B2B SaaS than high-touch sales
“On the self-service side, I mean, that's a much more difficult, you know, not to crack, especially for a B to B for somebody that be able to understand enough, see the value enough and commit money for a service that, you know, they're just learning.”
Mark SmooklerMay 31, 2018▶ 19:281041 From Sake to $1m ARR SaaS
AssertionNot checkable as stated
Smookler claims SakeSocial is the largest online Japanese sake retailer
“So we sell Japanese sake online. So we're the largest online retailer of Japanese sake.”
Mark SmooklerMay 31, 2018▶ 1:321041 From Sake to $1m ARR SaaS
Disclosure
SakeSocial operates as a fully automated e-commerce business with zero employees
“But again, I mean, we ship to most states and it's all outsourced. I have no employees. We have a third party warehouse in Napa Valley. That picks, picks, packs, and ships all of our brews, and again, Shopify on the front end, and it's just yeah, just a fully …”
Mark SmooklerMay 31, 2018▶ 2:101041 From Sake to $1m ARR SaaS
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