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Nov 12, 2018

Laura Roeder – Bootstrapping a $4 million company in 4 years with no sales reps

Summary

Laura Roeder created the social media management SaaS, MeetEdgar and has grown it to $4 million ARR without any external funding.

Laura built MeetEdgar to “scratch her own itch” whilst she was running her social media management company. It filled the need for a tool to automate the repetitive nature of social media posting. And to effectively repurpose / repost evergreen content so that it doesn’t just vanish into the ether.

Why should you listen?

It’s a lesson in building a product for a need. A recurring theme of my emails. Too often gifted developers are building products and then looking for the customer.

Laura already had the need – she was her own customer. And she had an audience from the service business she was already running.

There are also some discussion around pros and cons of remote teams and hiring processes (MeetEdgar is a fully remote business).

3 lessons…

– Make more of win back campaigns for churned customers. If you still have permission to market to them, do it. Keep showing the value, new features and special offers.

– As tempting as it might be to take investment, once you get traction you’ll love the freedom of being bootstrapped.

– Knowing exactly who your market is can be a differentiator in a competitive space. Laura targets businesses that have just 1 or 2 employees. MeetEdgar can focus its effort on meeting the needs of just those customers.

In today’s episode, I'm speaking with Laura Roeder, the founder and CEO of MeetEdgar. MeetEdgar helps professionals and small businesses manage their content and promote it on social media. Laura founded MeetEdgar in 2014. In less than 4 years, they’ve grown to over $4 million in annual recurring revenue, all while being fully remote, and bootstrapped, which is absolutely incredible. We dive into a lot of different topics, including how she grew to $100k MRR in less than 12 months, her bootstrapping story, marketing tips, challenges of managing a remote team, tips on churn, and much much more. I had a great time chatting with Laura, and I think you’ll get a ton of value from this episode. I hope you enjoy!

Visit meetedgar.com to learn more.

Music by sifer2424