vero - the journey so far (july 2014)
DESCRIPTION
Chris Hexton (CEO and Co-Founder of Vero) shares the gritty and true story of how Vero began. From working on Invc.me, an online invoicing solution, to iterating and learning quickly what works and does not work, Vero was born. Learn how to: - Implement 'lean startup' - Be cold and efficient in making decisions - Tough it out! - Get your first paying customers in SaaSTRANSCRIPT
@veroapp | @chexton | www.getvero.comVero
TO PIVOT OR NOT TO PIVOT?
Chris Hexton - Vero
24 July, 2014
• Co-founder Vero, behavioural email marketing software.!
• Started two years ago, predominantly bootstrapped so far.!
• Background in accounting, self-taught developer.!
• Profitable.
CHRIS HEXTON@chexton
Jan - May 2012
TRIAL AND ERROR (LOTS)
1
@veroapp | @chexton | www.getvero.comVero
Build it and they will come
Trial and error
Lesson number one:
Don’t spend more time building than
getting customers.
@veroapp | @chexton | www.getvero.comVero
Build something else…and then they’ll come
Trial and error
Lesson number two:
It’s revenue that counts. More traffic is
not validation. Nor does it mean more
paying customers.
@veroapp | @chexton | www.getvero.comVero
No one actually cared
Trial and error
Lesson number three:
Where are your customers coming
from?
@veroapp | @chexton | www.getvero.comVero
Hopeless? What we asked ourselves
Trial and error
• Why did we start Invc.me? Why this idea?
• Do we like the ‘new direction’?
• Are we proud?
• Does this feel like it will provide us with what we need to meet our
personal goals?
June 2012
VERO IS BORN
2
@veroapp | @chexton | www.getvero.comVero
Vero is born
EMAILS CALLS USERS
20 8 2
Signups: 0 MRR: $0JUNE 2012
@veroapp | @chexton | www.getvero.comVero
Some text
Vero is born
Signups: 5 MRR: $0JUNE 2012
@veroapp | @chexton | www.getvero.comVero
Vero is born
Signups: 400 MRR: $0JULY 2012
@veroapp | @chexton | www.getvero.comVero
Vero is born
AUG 12
$Signups: 500 MRR: $350AUGUST 2012
@veroapp | @chexton | www.getvero.comVero
Vero is born
Signups: 800 MRR: $800NOVEMBER 2012
Guidelines for success
MY TOP 3 RULES
3
@veroapp | @chexton | www.getvero.comVero
Know your situation
My top 3 rules
• Can your founding team cover all the bases?
• Do you have kids?
• What is your experience?
• What do you WANT to achieve for yourself?
@veroapp | @chexton | www.getvero.comVero
Be at the core of your customers’ businesses
My top 3 rules
People will pay you if they need your software to manage a core business
task.
• Stripe – businesses need to charge their customers.
• Github – software companies need to manage code changes.
• Basecamp – companies need to manage teams.
• Vero – people need some way to manage emails.
@veroapp | @chexton | www.getvero.comVero
Charge people money
Test goes here
It will solve every single problem you can possibly have.
• Can’t pay for servers?
• Can’t raise money?
• Can’t feed yourself?
• Can’t get people excited about your idea?
