#234: $0 to $10 Million in Four Years: How One SaaS Start-up Scaled & Sold Without Outside Capital

February 03, 2021 01:28:50
#234: $0 to $10 Million in Four Years: How One SaaS Start-up Scaled & Sold Without Outside Capital
Intentional Growth
#234: $0 to $10 Million in Four Years: How One SaaS Start-up Scaled & Sold Without Outside Capital
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Hosted By

Ryan Tansom

Show Notes

Hitting on all cylinders requires focus and intention. Terri Soutor, CEO of FastBridge, recognized that early on and chose dedicated partners who had a great idea and, through amazing service, could deliver high value to their target clients. This approach scaled their SaaS-based business 10x over four years, without having to raise outside capital, before ultimately selling to the perfect strategic buyer. Terri shares the strategies behind their exponential growth and what they did to maintain their mission, vision and values along the entrepreneurial journey.

What You Will Learn In Today's Podcast Interview

 

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About the Guest:

Terri Soutor is a talented C-suite leader and strategist skilled at building and growing SaaS companies.She took FastBridge Learning from zero to 10 million USD in a four-year span, earning it the rank of second fastest-growing private company in the Twin Cities. Because of her efforts in her field, Terri made the list of The Real Power 50 by Minnesota Business and received the Titan of Technology award from the Minneapolis / St. Paul business journal. She is still dedicated to her original mission of improving teaching and learning in schools through effective, evidence-based innovations in education.

 

Quotes:

22:20 - “But at the end of the day, the research basis and the quality of the product was what was fundamental to the go to market.” – Terri Soutor

31:20 - “We grew really fast. How do we make sure that we weren’t getting out over our skis? So there was a constant rebalancing that I was doing in terms of how we were investing the dollars that we were earning through sales.” – Terri Soutor

35:55 - “We were very intentional of our mission, our goals, and our values.” – Terri Soutor

36:08 - “Before we talked about anything around the business, we talked about mission, purpose, and values and what kind of business we wanted to build with intent. And that really drove most (if not all) of the decisions we made about the business. We always came back to our mission and values.”  – Terri Soutor

41:26 - “Every decision we made started with mission and vision and values.” – Terri Soutor

44:57 - “No one wants to replace the roof; we’d rather remodel the kitchen.” – Terri Soutor

62:54 - “We didn’t need to sell, so it really gave us the time to evaluate the why behind the what.” – Terri Soutor

68:14 - “The minute lawyers get involved, it gets messy.” – Terri Soutor

69:27 - “When you’re going through this kind of a transaction, everybody that’s engaged stands to make money.”” – Terri Soutor 

84:23 - “You can plan not to sell, but be intentional about it.” – Terri Soutor

 

Links and Resources:

LinkedIn: Terri Soutor

Website: Terrisoutor.com

Email: [email protected]

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