Interact: Lessons on Overcoming a SaaS Revenue Plateau
Josh Haynam is the co-founder and CEO of Interact, a platform for creating quizzes, assessments, and giveaways that help build your email list or qualify leads.
I originally interviewed Josh in 2015 (episode 57) when he and his college friends at bootstrapped Interact and were doing around $15K in MRR.
Today, they're doing around $2.5M in annual recurring revenue (ARR). But there's a lot more to this story than you may think.
It took them about 5 years to hit $1M ARR and then they experienced rapid growth during the pandemic. It was looking like the start of the hockey stick growth curve.
But then growth came to a standstill and revenue was flat for about a year.
In this episode, we talk about the realities and challenges of growing a SaaS business. We dig into how they managed to grow the business to over $2M ARR. We explore why growth then declined and revenue plateaued. And we talk about all the things the team did for a year to figure out how to get their business growing again.
I hope you enjoy it.
Book Recommendation
- “Made in Japan” by Akio Morita