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E198: Prioritize to Reach Profitability ASAP

by Sean Boyce

In this episode, Sean shares his insights on when and why to reinvest in the growth of a B2B SaaS and how to strategically prioritize important business aspects. He emphasizes the importance of taking a lean approach in the beginning, only investing in what is necessary and waiting until a certain revenue threshold is hit before properly buttoning up your business. Sean also advises investing time and proceeds into growth channels and being cautious of investing too much beyond losses.

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Key Points

  • Only invest in necessary business aspects until a certain revenue threshold is hit
  • Use policy generators instead of costly lawyers for basic legal agreements
  • Invest time and proceeds into growth channels, but be cautious of investing too much beyond losses
  • Take a lean approach in the beginning to preserve budget and focus on generating revenue
  • Strategically prioritize important business aspects and only button up when necessary
  • Be careful of investing in channels that do not produce a return
  • Preserve profitability to ensure a successful and sustainable business
  • “Remember, you’re trying to get this product to be as successful as possible, as fast as possible.”
  • “I largely wait on those until I know the product is generating a certain amount of revenue.”
  • “I want you preserving your budget and I want you preserving your time so that you can focus almost all of that effort in making sure that this product can generate enough revenue.”
  • “Be careful investing too much beyond the losses that you’re already taking, cuz that can create a trend that could be difficult to get out from with under as well too.”
  • “Preserving your profitability and making sure that your product can be a successful, profitable, and sustainable business longterm, those should be your priorities.”
  • “It’s good to have your policies in place, but they have a bunch of policy generators online.”
  • “Lean is always better because it’s more efficient, it preserves resources, and then you have more options down the line.”