Practical Founders Podcast

by Greg Head
Tune into the Practical Founders Podcast with host Greg Head for weekly in-depth interviews with founders who have built valuable software companies--without big funding.
Episodes
#182: Why Focus Beats Funding in Crowded SaaS Markets - Luigi Mallardo
<p dir="ltr">Luigi Mallardo joined Woffu as an early angel investor and later became CRO, helping founder Miguel Fresneda shape a practical SaaS growth path. Based in Barcelona, Spain, Woffu has built a modern cloud-based time and attendance platform for SMEs and mid-market companies, replacing legacy tools and spreadsheets with a focused, mobile-first workforce solution.</p> <p dir="ltr">Starting from just €2K MRR, Luigi led growth first through inbound, then outbound, and partner channels, increasing average revenue per account five to seven times. By 2025, the company reached nearly €500K in monthly recurring revenue, or about €6M ARR, with more than 50 employees and profitable, efficient growth across Spain.</p> <p dir="ltr">Woffu sold to Visma in 2022 following a multi-year, proactive exit strategy, with a total reported value of €20–30M including the 3-year earnout. Luigi shares how early focus, diversified revenue, and optionality shaped every decision. His biggest lesson: clarity about your endgame determines your strategy early on, including your growth model and many other important decisions.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Strategic Focus</strong> - Choosing one clear use case and market unlocked faster growth than chasing horizontal HR suite ambitions across Europe.</li> <li dir="ltr" role="presentation"><strong>Optionality First</strong> - Designing for multiple future paths gave founders leverage rather than forcing a sale based solely on valuation.</li> <li dir="ltr" role="presentation"><strong>Revenue</strong> - Layers Inbound, outbound, and partners created resilience while steadily raising average contract value and predictability.</li> <li dir="ltr" role="presentation"><strong>Exit Readiness</strong> - Warming buyers years early turned selling into a strategic process rather than a rushed financial event.</li> <li dir="ltr" role="presentation"><strong>Customer Success</strong> - Investing deeply in retention created low churn and made Woffu more attractive to long-term acquirers.</li> <li><strong>Builder Mindset</strong> - Great CROs zoom in and out, connecting go-to-market execution with strategy, culture, and long-term outcomes.</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Luigi Mallardo, Chief Revenue Officer at Woffu</span></strong></p> <p dir="ltr"><em>"We chose our focus of ICP and focus of use case, to reduce the space of market optionality to get more business optionality. You see what I mean? </em></p> <p dir="ltr"><em>"The advice I give most often is to focus, which doesn't mean to close off the option of having more verticals forever, but you need 75% or 80 % of your pipeline on where you are already monetizing and building traction. And then you leave that 20 % of pipeline to do experimentations in a new vertical.</em></p> <p dir="ltr"><em>"It's one of the historical challenges, especially with young founders: the feeling of losing opportunities if they decide and don't do everything. But you are losing opportunities if you go too wide and you don't focus. Just be patient, postpone, and focus on what works."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href= "https://www.linkedin.com/in/luigimallardo/?originalSubdomain=es" target="_blank" rel="noopener">Luigi Mallardo on LinkedIn</a></li> <li dir="ltr"><a href="https://www.linkedin.com/company/woffu/" target="_blank" rel="noopener">Woffu on LinkedIn</a></li> <li><a href="https://woffu.com/en/" target="_blank" rel= "noopener">Woffu website</a></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Lighter Capital</span></h2> <p>This podcast is sponsored by <a href= "http://lightercapital.com/" target="_blank" rel="noopener">Lighter Capital</a>.</p> <p>In the last 15 years, Lighter Capital has helped over 600 software and SaaS founders secure simple, non-dilutive financing to grow a little faster—without giving up any precious equity or board seats to investors. </p> <p>Simple debt funding from Lighter Capital can range from $50K to $10 million, with straightforward terms, no personal guarantees or covenants, and up to a 4-year payback period.</p> <p>Go to <a href="http://lightercapital.com/" target="_blank" rel="noopener" data-link-card="true">LighterCapital.com</a> to apply and get a quick pre-qualification. Then talk with their experienced team to create a practical funding plan to achieve your goals. </p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#181: Why Systems (with AI) Scale Better Than People in SaaS - Jordon Comstock
<p dir="ltr">Jordon Comstock is founder and CEO of BoomCloud, a vertical SaaS company serving dental practices with patient membership software. He started the company scrappy and bootstrapped, with no outside funding, after years in the dental industry managing his family's dental lab business.</p> <p dir="ltr">BoomCloud now does about $3M in ARR with roughly 600 dental practices and an 11-person team. The company helps dentists replace insurance-driven revenue with subscription-based patient memberships, creating higher margins and more predictable cash flow. BoomCloud has been profitable since 2016 and continues to grow steadily.</p> <p dir="ltr">Jordon shares hard-earned lessons about hiring too fast, why systems scale better than people, and how he uses AI to increase output without adding headcount. He also shares how narrowing ICP transformed sales and marketing and why he's committed to building a durable, profitable business instead of chasing a fast exit.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Bootstrap Talent Gap</strong> — VC-funded talent often struggles in capital-efficient environments that require ownership, speed, and scrappy execution.</li> <li dir="ltr" role="presentation"><strong>AI Is Leverage</strong> — AI tools helped BoomCloud increase marketing and product output without rebuilding a large team.</li> <li dir="ltr" role="presentation"><strong>Profit Creates Buffer</strong> — Staying profitable provided margin for mistakes and reduced stress during periods of experimentation.</li> <li dir="ltr" role="presentation"><strong>Slow Markets Matter</strong> — Vertical SaaS wins by matching the pace of conservative industries instead of forcing VC-style growth.</li> <li dir="ltr" role="presentation"><strong>Exit Isn't Required</strong> — Steady profits allow founders to "exit slowly" through distributions without selling the business.</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Jordon Comstock, Founder and CEO of BoomCloud</span></strong></p> <p dir="ltr"><em>"We say systems scale, people don't. And we're learning that now. Let's implement the systems first. It doesn't mean people aren't important. People are important. But they have to have a system or a process first.</em></p> <p dir="ltr"><em>"We've got to build it as a company and build that foundation first. When we hired a director of marketing and said, okay, you got to generate, you know, a thousand leads a month is what we were trying to do. And he couldn't do it because he didn't have systems. Fast forward a year, we implemented SEO systems to drive consistent traffic.</em></p> <p dir="ltr"><em>And we convert that traffic into leads and now a thousand leads in a month is automatic. Because we have systems. We don't have a director of marketing anymore. I guess it's me, me with systems and AI.</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href="https://www.linkedin.com/in/jordoncomstock/" target="_blank" rel="noopener">Jordon Comstock on LinkedIn</a></li> <li dir="ltr"><a href="https://www.linkedin.com/company/boomcloud/" target="_blank" rel="noopener">Boomcloud on LinkedIn</a></li> <li><a href="https://boomcloudapps.com/" target="_blank" rel= "noopener">Boomcloud website</a><strong id= "docs-internal-guid-ca4ffd37-7fff-49ed-77ea-e342085e4b24"><br /></strong></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Designli</span></h2> <p>This podcast is sponsored by <a href= "https://designli.co/practical" target="_blank" rel= "noopener">Designli</a>, a digital product studio that helps entrepreneurs and startups turn their software ideas into reality. From strategy and design to full-scale development, Designli guides you through every step of building custom web and mobile apps. Learn more at <a href="https://designli.co/practical" target= "_blank" rel="noopener">designli.co/practical</a>.</p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#180: AI Is Not Killing Vertical SaaS - It's Practical Leverage - Deepak Sindwani
<p dir="ltr">Deepak Sindwani is Managing Partner at <a href= "https://www.wavecrestgrowth.com/" target="_blank" rel= "noopener">Wavecrest Growth Partners</a>, an active growth equity firm backing bootstrapped and lightly funded SaaS founders. They work with practical founders who've built profitable businesses to $5–$20M ARR and want help growing without VC pressure or losing control.</p> <p dir="ltr">Wavecrest invests in vertical SaaS companies growing 30–60% annually, typically profitable or breakeven. They help founders scale sales, pricing, analytics, and leadership teams while staying capital efficient. Investments are usually $10–$30M total, with founders often taking some liquidity while continuing to lead.</p> <p dir="ltr">Even with the excitement around AI-first companies from VCs, Deepak sees efficient growth equity in practical vertical SaaS as a great investment and a big opportunity for founders. AI is helping serious practical founders, not making them irrelevant.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Capital Efficiency Matters</strong> — Wavecrest only backs profitable or breakeven SaaS companies that already respect the business model fundamentals.</li> <li dir="ltr" role="presentation"><strong>Founder Liquidity Helps</strong> — Taking some money off the table reduces stress and helps founders make better long-term decisions.</li> <li dir="ltr" role="presentation"><strong>Vertical SaaS Wins</strong> — Deep industry knowledge and data create defensibility AI-first competitors struggle to replicate.</li> <li dir="ltr" role="presentation"><strong>AI Is Additive</strong> — Software plus AI and data creates more value than AI replacing SaaS systems of record.</li> <li><strong>No One-Size Playbook</strong> — Growth equity works best when strategies are customized, not forced by rigid PE-style playbooks.</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Deepak Sindwani, Managing Partner at Wavecrest Growth Partners</span></strong></p> <p dir="ltr"><em>"We don't think B2B SaaS is dead. It may create great headlines to say, AI eats software. We think software plus AI is the right approach. Software, AI plus data. So they're harvesting and creating that data moat that is going to help make them defensible.</em></p> <p dir="ltr"><em>"Then, using the AI tools, why not use the AI tools to provide more automation for customers? That's what we really think AI does: increase the ability to automate the use of their product and to get value. </em><br /> <br /> <em>"Every company that we're involved with has some AI initiative. How am I changing how I run my business? How am I changing marketing and sales and finance and customer success using AI? Every company is doing something in every function in terms of new tools and tests."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href="https://www.linkedin.com/in/dsindwani/" target="_blank" rel="noopener">Deepak Sindwani on LinkedIn</a></li> <li dir="ltr"><a href= "https://www.linkedin.com/company/wavecrest-growth-partners/" target="_blank" rel="noopener">Wavecrest Growth on LinkedIn</a></li> <li><a href="https://www.wavecrestgrowth.com/" target="_blank" rel= "noopener">Wavecrest Growth Partners website</a></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Lighter Capital</span></h2> <p>This podcast is sponsored by <a href= "http://lightercapital.com/" target="_blank" rel="noopener">Lighter Capital</a>.</p> <p>In the last 15 years, Lighter Capital has helped over 600 software and SaaS founders secure simple, non-dilutive financing to grow a little faster—without giving up any precious equity or board seats to investors. </p> <p>Simple debt funding from Lighter Capital can range from $50K to $10 million, with straightforward terms, no personal guarantees or covenants, and up to a 4-year payback period.</p> <p>Go to <a href="http://lightercapital.com/" target="_blank" rel="noopener" data-link-card="true">LighterCapital.com</a> to apply and get a quick pre-qualification. Then talk with their experienced team to create a practical funding plan to achieve your goals. </p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#179: Don't Sell Your SaaS Yet: Hire a CEO and Get Your Life Back - Tighe Burke
<p dir="ltr">Tighe Burke is the founder of <a href= "https://www.srchpartners.com/" target="_blank" rel="noopener">SRCH Partners</a>, a boutique executive search firm that helps SaaS founders replace themselves as CEO without selling their companies. After years in large executive recruiting firms, Tighe built a practice focused on founders who want their business to keep growing while they step back from day-to-day leadership.</p> <p dir="ltr">Tighe works with profitable software companies typically in the $5M–$50M revenue range, helping founders hire experienced and scrappy operators who have already scaled businesses through the next phase. His team has completed more than 75 executive searches, often placing CEOs who take full P&L ownership while founders move into chairman, product, or portfolio roles.</p> <p dir="ltr">In this episode, we dig into when hiring a CEO makes sense, how compensation and incentives really work, and what founders must let go of for this transition to succeed. Tighe shares practical warning signs, real compensation structures, and why this "third door" can create more value and freedom than selling too early.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Founder Readiness Matters</strong> — This only works when founders clearly know what they want their life and role to become next.</li> <li dir="ltr" role="presentation"><strong>$5M+ Reality Check</strong> — Most companies need real profitability to afford a strong CEO with authority and incentives.</li> <li dir="ltr" role="presentation"><strong>Operators Are Different</strong> — The best CEOs have already scaled similar businesses and don't need to learn on your dime.</li> <li dir="ltr" role="presentation"><strong>Let Go Or Don't Hire</strong> — Founders who keep control undermine the hire and drive away the right operators.</li> <li dir="ltr" role="presentation"><strong>Comp Isn't Just Equity</strong> — Profit sharing, bonuses, and transaction payouts often work better than stock alone.</li> <li dir="ltr" role="presentation"><strong>Shadow Period Is Normal</strong> — The first few months require intentional transition, not instant disappearance by founders.</li> <li><strong>Value Can Multiply</strong> — Hiring the right CEO can grow valuation faster than selling too early ever would.</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Tighe Burke, Founder of SRCH Partners</span></strong></p> <p dir="ltr"><em>"There are three doors as a founder entrepreneur. Door #1is keep running your business. Maybe you love your business. Door #2 is to exit the business and sell your company whenever you either get a good multiple, or the time is right, or a good buyer. "</em></p> <p dir="ltr"><em>"Door #3 is where we come in. Hopefully, your business cash generating asset for you. There are a lot of founders who think of their business that way. Some particularly people who like start their own company, it's their baby, it defines who they are. That's great. But if for any reason you're feeling angst or like you think someone can get past 10 million when you've really struggled there, that's probably true. </em></p> <p dir="ltr"><em>"Let's bring in somebody else, an operator, a big O operator to run the business, to own the P &L, to make strategic decisions, to hire, to fire, to do all the things that you probably don't really like anymore. </em></p> <p dir="ltr"><em>"You don't have to sell the business. You can actually get a bigger multiple later on by having a strong management team in place if that is something you choose. And you get your life back. can be with your family. You can start another business. You can advise, invest, kind of do whatever you want."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href="https://www.linkedin.com/in/tighe-burke/" target="_blank" rel="noopener">Tighe Burke on LinkedIn</a></li> <li dir="ltr"><a href= "https://www.linkedin.com/company/srch-partners/" target="_blank" rel="noopener">SRCH on LinkedIn</a></li> <li dir="ltr"><a href="https://www.srchpartners.com/" target= "_blank" rel="noopener">SRCH website</a></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Designli</span></h2> <p>This podcast is sponsored by <a href= "https://designli.co/practical" target="_blank" rel= "noopener">Designli</a>, a digital product studio that helps entrepreneurs and startups turn their software ideas into reality. From strategy and design to full-scale development, Designli guides you through every step of building custom web and mobile apps. Learn more at <a href="https://designli.co/practical" target= "_blank" rel="noopener">designli.co/practical</a>.</p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#173: From COVID Boom to Bootstrap Mode: Hubilo's Refounder Story - Shailesh Hegde
<p dir="ltr">Shailesh Hegde is the CEO of <a href= "https://www.hubilo.com/" target="_blank" rel= "noopener">Hubilo</a>, a Bangalore-based webinar software company that initially started during COVID as virtual events tech and raised $150M in VC funding before the market shifted. Originally joining as head of product, he stepped into the CEO role during a chaotic downturn and led the company through a full strategic reset after returning all the remaining capital to investors. </p> <p dir="ltr">When the virtual events boom collapsed, Shailesh and the team rebuilt Hubilo into a mid-market webinar platform serving B2B marketing teams. They shifted from large in-person event organizers to marketers running frequent webinars, emphasizing differentiated AI-driven content repurposing. Hubilo stabilized revenue, rebuilt its GTM motion, and reached a 50/50 split between new webinar revenue and legacy customers. </p> <p dir="ltr">Earlier this year, Hubilo was acquired by BrandLive, a U.S. enterprise video platform seeking a complementary webinar product. About 80% of Hubilo's team moved over, and Shailesh now leads product integration and customer continuity during the transition. He shares hard lessons on pivots, returning capital, leading through uncertainty, and executing a practical exit when the original VC-scale vision is no longer realistic. </p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Refounder Mindset</strong> – Shailesh stepped into the CEO role and reframed the mission from hypergrowth to survival, focus, and a practical exit.</li> <li dir="ltr" role="presentation"><strong>New ICP Reality</strong> – Moving from event organizers to B2B marketers required a complete repositioning and GTM rebuild that took longer than expected.</li> <li dir="ltr" role="presentation"><strong>AI as Differentiator</strong> – Hubilo used AI-generated content and repurposing tools to stand out in a crowded webinar category with entrenched incumbents.</li> <li dir="ltr" role="presentation"><strong>Practical GTM</strong> – LinkedIn thought leadership, SEO content, and product-led demos outperformed outbound or expensive Google ads in this competitive space.</li> <li><strong>Strategic Fit Wins</strong> – BrandLive acquired Hubilo for complementary capabilities, product acceleration, and access to a strong India-based engineering team.</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Shailesh Hegde, CEO of Hubilo</span></strong></p> <p dir="ltr"><em>"Now that I just sold our company, I'm thinking about what's next for me. It comes down to, Will I be able to find a viable problem that people are willing to pay for and will I be able to use sort of all of this experience that I have in order to solve it really well and kick off a company off the ground? </em></p> <p dir="ltr"><em>"Now is probably the best time to start a company where there's so much action, there's so much happening in AI, and it's super exciting to be in this space. It's also a great time to not have like revenue pressure on your shoulders and just think out loud, have open conversations and just be free, before you really dive in and choose a focus.</em></p> <p dir="ltr"><em>"The same types of business pressures will come back as you start a company. But now is a great time to just help with transition, make sure the team is good, but at the same time, start thinking about the types of problems I want to solve in the future with a new startup."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href="https://www.linkedin.com/in/shaileshhegde/" target="_blank" rel="noopener">Shailesh Hegde on LinkedIn</a></li> <li dir="ltr"><a href= "https://www.linkedin.com/company/hubilo/?originalSubdomain=in" target="_blank" rel="noopener">Hubilo on LinkedIn</a></li> <li dir="ltr"><a href="https://www.hubilo.com/" target="_blank" rel="noopener">Hubilo website</a></li> <li><a href="https://www.brandlive.com/" target="_blank" rel= "noopener">Brandlive website</a></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Fraction</span></h2> <p>This podcast is sponsored by <a href= "https://www.hirefraction.com/?utm_source=practicalfounders" target="_blank" rel="noopener">Fraction</a>. Fraction gives you access to senior US-based engineers and CTOs — without full-time costs or hiring risks. Get 10 to 30 hours per week from vetted and experienced US-based talent.</p> <p>Find your next fractional senior engineer or CTO at <a href= "https://www.hirefraction.com/?utm_source=practicalfounders" target="_blank" rel="noopener">fraction.work.</a> You can start with a one-week, risk-free trial to test it out.</p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#170: Why Most SaaS Acquirers Still Want Profitable Growth in 2025 - Gaurav Bhasin
<p dir="ltr">Gaurav Bhasin is the founder and managing director of <a href="https://www.alliedadvisers.com/" target="_blank" rel= "noopener">Allied Advisers</a>, an M&A advisory firm whose principals have completed over 100 sell-side transactions for software and tech founders. After two decades in investment banking and tech M&A, Gaurav is a sell-side advisor to B2B software founders who have built successful businesses and want to explore selling their companies.</p> <p dir="ltr">Allied Advisers typically works with founders selling their businesses for $20M–$200M, helping them prepare materials, run a competitive process, and negotiate terms.</p> <p dir="ltr">We discuss how today's M&A market looks very different from the 2021 bubble. Valuations have normalized, deal timelines have increased, and buyers are more disciplined. But the demand for profitable, steadily growing SaaS companies is stronger than ever.</p> <p dir="ltr">Gaurav breaks down strategic and private equity buyers, what metrics matter most, how AI influences valuations, and why most founders underestimate the emotional and operational effort required to sell. For practical founders thinking about an exit in the next few years, this episode provides clear expectations and tactical guidance.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr"><strong>Profitable Growth Wins</strong> — Buyers prefer SaaS companies growing 20–50% with real profits over faster revenue growth fueled by burn.</li> <li dir="ltr"><strong>Metrics Drive Valuation</strong> — Net retention above 110%, gross retention above 90%, and >75% gross margins increase valuation and buyer interest.</li> <li dir="ltr"><strong>Run a Real Process</strong> — A single buyer gives you no leverage. Multiple qualified buyers improve pricing, terms, and closing certainty.</li> <li><strong>AI Is Lipstick — But Real</strong> — You don't need to be AI-native. Practical AI that improves product, margin, or GTM still increases buyer interest.</li> </ul> <ul> <li data-start="1453" data-end="1525"> </li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Gaurav Bhasin, founder and managing director of Allied Advisers</span></strong></p> <p dir="ltr"><em>"The good news for SaaS founders is that the private equity community has raised about $1.5 trillion of capital, and more is being raised. And they also have access to debt. So there's $7 trillion of dry powder to do deals. Private equity is not paid to sit on the cash. And they love recurring revenue software. </em></p> <p dir="ltr"><em>"Private equity investors will typically move much faster than strategic buyers. Strategics will take a while. You need a business unit sponsor to buy into the vision, and then they will push the corporate to do the deal. But with the private equity, they will look at your financial metrics and if you fit in, they can move pretty fast. </em></p> <p dir="ltr"><em>"The one caveat with private equity compared to strategic is they generally pay a little bit less than the strategics because strategics have established distribution and GTM for higher growth, so private equity will index more on the financials."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href= "https://www.linkedin.com/in/gaurav-bhasin-ba75601/" target= "_blank" rel="noopener">Gaurav Bhasin on LinkedIn</a></li> <li dir="ltr"><a href= "https://www.linkedin.com/company/allied-advisers/" target="_blank" rel="noopener">Allied Advisers on LinkedIn</a></li> <li dir="ltr"><a href="https://www.alliedadvisers.com/" target= "_blank" rel="noopener">Allied Advisers website</a></li> <li><a href= "https://bb16eba0-3d94-42d1-abcb-976c9f7f05be.usrfiles.com/ugd/bb16eb_ced30256e0534565a67acdb8aef4747e.pdf" target="_blank" rel="noopener">2025 Vertical SaaS Report - Allied Advisers</a></li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Fraction</span></h2> <p>This podcast is sponsored by <a href= "https://www.hirefraction.com/?utm_source=practicalfounders" target="_blank" rel="noopener">Fraction</a>. Fraction gives you access to senior US-based engineers and CTOs — without full-time costs or hiring risks. Get 10 to 30 hours per week from vetted and experienced US-based talent.</p> <p>Find your next fractional senior engineer or CTO at <a href= "https://www.hirefraction.com/?utm_source=practicalfounders" target="_blank" rel="noopener">fraction.work.</a> You can start with a one-week, risk-free trial to test it out.</p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>
#169: Practical Pivot and Relaunch Created Profitable 200% Growth - Natalie Barbu
<p>Natalie Barbu is the founder and CEO of <a href= "https://getrella.com/" target="_blank" rel="noopener">Rella</a>, a SaaS platform built to streamline collaboration and workflows for social media teams and agencies. She began as a YouTube creator, grew a following of over 300,000, and then identified the fragmentation of the creator tools market — which led her to build Rella 1.0. </p> <p>With some small seed funding, the first Rella version focused on content creators and made no revenue with a freemium model. With $25K in the bank and no revenue, the four cofounders thought they would shut it down. But a viral video focused on social media teams immediately created paid users and revenue for a new Rella product.</p> <p>"Rella 2.0" now offers all-in-one content planning, scheduling, collaboration boards, billing & analytics, an AI content strategist, and all in one workspace — for social media teams. In just 12 months, they went from having no revenue, no funding, and a hard pivot relaunch to almost $3M in ARR run-rate revenue — with only four co-founder employees.</p> <p dir="ltr"><strong>Key Takeaways</strong></p> <ul> <li dir="ltr" role="presentation"><strong>Charge Early:</strong> They learned the hard way that free users don't convert — monetization early was non-negotiable.</li> <li dir="ltr" role="presentation"><strong>Lean Teams Win:</strong> A small, focused team aligned tightly with a mission beats trying to scale prematurely.</li> <li dir="ltr" role="presentation"><strong>Community Is Fuel:</strong> Natalie shared behind-the-scenes of the product with early users — built trust + word-of-mouth.</li> <li><strong>Pivot Smart:</strong> They transitioned from creator workflow tools to a full SaaS platform after validating demand. <strong id= "docs-internal-guid-d96b4d73-7fff-07d2-c82f-fa21d6587473"></strong></li> </ul> <p dir="ltr" role="presentation"><strong>This Interview Is Perfect For</strong></p> <ul> <li>SaaS founders pivoting after a stalled product</li> <li>Founders learning how to find product-market fit </li> <li>Teams deciding when to hire or stay lean </li> <li>Builders designing tools for marketing and content teams</li> </ul> <p dir="ltr"><strong><span style="font-size: 14pt;">Quote from Natalie Barbu, founder and CEO of Rella</span></strong></p> <p dir="ltr"><em>"It was about two years before we decided to pay ourselves. I was still making money from my social media. So that's how I supported myself. And then my co-founders had to find side things, which I know a lot of people say, you have to be a hundred percent all in and invested in it. </em></p> <p dir="ltr"><em>"But when you're not making money, you need to find a way to support yourself. So yeah, they had some side gigs that they were working on while still working full-time on Rella.</em></p> <p dir="ltr"><em>"Once we started making more money with Rella 2.0, we all bumped ourselves up and got some raises since we could afford it, which has been such an accomplishment. It's money that we're actually making from our customers and our users and the income that we're generating."</em></p> <p dir="ltr"><strong style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> Links</span></strong></p> <ul> <li dir="ltr"><a href="https://www.linkedin.com/in/nataliebarbu/" target="_blank" rel="noopener">Natalie Barbu on LinkedIn</a></li> <li dir="ltr"><a href= "https://www.linkedin.com/company/rellasocial/" target="_blank" rel="noopener">Rella on LinkedIn</a></li> <li dir="ltr"><a href="https://getrella.com/" target="_blank" rel= "noopener">Rella website -</a> Use this 10% Discount Code for Rella - practical</li> </ul> <p><strong id= "docs-internal-guid-5d94471a-7fff-0954-12f6-a253480f5363"></strong></p> <h2><span style="font-size: 14pt;">Podcast Sponsor – Cypress Growth Capital</span></h2> <p>This podcast is sponsored by <a href= "https://www.cypressgrowthcapital.com/" target="_blank" rel= "noopener">Cypress Growth Capital</a>, an alternative to equity, royalty-based growth capital provides funding in exchange for a fixed percentage of your company's future monthly revenues. Learn more at <a href="https://www.cypressgrowthcapital.com/" target= "_blank" rel= "noopener">https://www.cypressgrowthcapital.com/</a></p> <p class="p1"><span style="font-size: 14pt;"><strong>The Practical Founders Podcast</strong></span></p> <p class="p1">Tune into the <a href= "https://practicalfounders.com/podcast"><span class="s1">Practical Founders Podcast</span></a> for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our <a href= "https://www.youtube.com/@PracticalFounders"><span class= "s1">YouTube channel</span></a>.</p> <p class="p1"><strong>Get the weekly Practical Founders newsletter and podcast updates at </strong><a href= "https://practicalfounders.com/newsletter"><span class= "s1"><strong>practicalfounders.com.</strong></span></a></p> <p class="p1"><span style="font-size: 14pt;"><strong>Practical Founders CEO Peer Groups</strong></span></p> <p>Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A <a href= "https://practicalfounders.com/peer-groups/">Practical Founders Peer Group</a> is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by <a href="https://practicalfounders.com/greg-head/">Greg Head</a>.</p>