Today we’re interviewing Baird Hall, an entrepreneur who has successfully built a business from scratch and exited with a smile on his face. As a sales engineer selling data integration systems at a startup in Charleston, he was always looking for a creative outlet. Something where he could do his own thing. This longing led him to choose the path of entrepreneurship. In this episode, he offers lessons he’s learned along the way.
We’re going to be talking about how he started, scaled, and sold Wavve, a SaaS company built for sharing podcast audio clips. He talks about the right mindset and how to “stay in check” so you can stay true to yourself and do everything for the right reason - if you let your ego get in the way you will hit those anxiety periods - and you have to know how to course correct.
Software as a service (SaaS) is an increasingly popular sales and business model that has a unique ability to discover and solve issues in unserviced markets. On today’s show, we’re doing a deep dive into one SaaS industry entrepreneur’s journey—from bad investments to seven-figure deals—to show how it’s possible to do a lot of good while making money. Baird Hall shares his greatest success of selling Wavve to Calm Capital after only four years in business and how it allowed him to realign his long-term vision with his career by solving real issues in an intentional and self-aware way through entrepreneurship. Learn how his personal drivers kept him in check when he got off track and how he grew from zero to over 200,000 users and $1.5M in ARR in this episode
Baird Hall is a four-time SaaS founder with broad experience in the market. He has no trouble sharing his failures right alongside his successes because he knows the value of the lessons he’s learned from both. Baird now works to reduce churn through customizing and improving offboarding experiences through his company Churnkey.
10:07 - “But then it was just, we felt the pull. It’s hard to explain that if you haven’t felt that pull in your business before. People would just come to our website to ask, ‘How do I do this? How can I make this better? How do I do X, Y, and Z to my video?’ And you can just feel it.” - Baird Hall
14:13 - “When I’m focused on outcomes, it’s usually my ego that gets in the way and that always throws me off course.” - Baird Hall
15:07 - “[When I’ve had anxiety] it’s always been around trying to fit some model of success that I think other people have. Selling the business was definitely one of them. That was definitely a badge I thought I should get from an entrepreneurial standpoint. But looking back, I mean, nobody really cares. Looking back, I need to be focused on why I am doing things.” - Baird Hall
19:59 - “What’s the point of failing fast? The point of failing is to learn. If you can learn what doesn’t work and what is not a good fit for you, that’s going to help you. It’s easier to just cross things off the list than to pick the most optimum outcome.” - Baird Hall
30:41 - “It seems like, in B2B, you need to build up social equity.” - Baird Hall
57:12 - “There was a guy that was on my show years ago (I steal this quote all the time now), he goes, ‘Now as an entrepreneur, I’m professionally unemployable.” - Ryan Tansom
57:42 - “What do you personally want? What is it that you want out of life? And, I think, there are a lot of people that just don’t distill that down. They need to figure out and write that down. It’s hard to get a bunch of things out of life, but you can always get a couple.” - Baird Hall, on his definition of intentional
Reach out to me if you have questions about the boot camp!
Do you know how much money you are wasting on inefficiencies inside your customer base? On today’s show, we’re learning all about the Customer Profitability Framework and what you can do—today—to make a real impact on your bottom line while also increasing the value of your business. If you don’t understand your customer profit curve or how to reduce your margin leakage, we’ve got the show for you today. Our guest is David Aasen—the customer profitability master—who has been the CFO of multiple private businesses, as well as private equity firms. Learn from specific case examples like the table story, which explains how 20% of our customers drive more than 150% of our profits, and the discount story, where David walks us through the real impact of 'harmless' customer discounts. This episode is a bit more on the tactical side, but the real-world examples drive the essential points home so anyone from a C-suite exec to a three-time founder will appreciate how these metrics impact your bottom line. What You Will Learn In Today's Podcast Interview How to drive profitable growth and reduce margin leakage What the Customer Profitability Framework is and why you should be using it You can think customer are profitable that are actually costing you money How customer profitability can be as much as 3x off what the owner thinks Inefficient processes are like an anchor holding your ship back Why you should rethink how you’re assigning costs Who you should be giving discounts and price concessions to versus the ROI on those price discounts How to find where your margin is leaking The importance of getting real data to understand your efficiencies and risks Why you should track the time of anyone who has impact ...
EP. #1 [THEME TWO] Today, we kick off a new theme: are you running a lifestyle business or are you growing a valuable asset? In this episode, Arkona co-founders Ryan Tansom and Pat Hobby break down what it takes to view your business as a financial asset - regardless of when you want to sell - so you can focus on growing the value of the company. By running your business as a financial asset, you can focus your time, money, and energy on areas that will increase the company’s valuation by creating sustainable, predictable, and transferable cash flow. The more valuable your company is, the more choices you will have down the road and it will allow you to create wealth, enjoy work, and make an impact. Ryan and Pat dive deep into some key concepts that will help you walk away with a clear understanding of the metrics that you need to focus on - and what they mean - in order to see what your company is worth today and how you can project out the value of the company years into the future. It all starts by clearly understanding the difference between your ownership role versus your management role and three financial targets. // WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast What You Will Learn The difference between a lifestyle business and long-term value creation. The three financial targets that will help you view your business as a financial asset. The number one thing holding people back from long-term value creation. The ...
Rand Fishkin grew Moz alongside his mother during the mid-2000s. Once they found some venture capitalist investors, Rand was ushered into the CEO role. Moz became a giant in SEO consultation. They raised millions of venture capital and built an impressive reputation. Rand tells me what it was like being CEO of such a big company. He talks about the pressure of venture capitalism and how his thinking changed during his time with Moz. The balance of customer service and the bottom line tend to weigh out differently when investors are involved. Rand expresses his opinion about venture capital and private equity investments. He also encourages alternative funding paths and explains his involvement in TinySeed, a startup accelerator. Rand is currently working on a software called SparkToro. The goal is to help marketers and businesses research their audience and target market. He has made some major changes to his approach to SparkToro and he’s very honest about what he learned from his time at Moz. What you will learn: ● What was Moz and how it began.● What happened when venture capitalist investors approached Moz.● How venture capital investments change the business.● Rand’s push into the CEO position.● How the attitude toward SEO changed over time.● The reasons Rand left Moz.● How he coped with the exit.● The unfair stigma of self-funding.● The benefits of venture capitalism.● The benefits of private equity.● The 2 mindsets a founder can have after an exit.● Why Rand is involved in TinySeed.● What SparkToro is doing differently than Moz.● Ask yourself, what do you need to feel successful? Takeaways: I’m really excited for Rand and ...