How WeSoar CEO Nisheeth Pathak grew WeSoar to $975.9K revenue and 4 customers in 2024.

guys we store helps you motivate your teams�� they just passed 23 000 a month in Revenue up���� from 14 000 uh just a year ago but buried under�� that is a lot of that Revenue a year ago was uh���� Consulting only 1K was SAS now almost 21 000 of�� this is SAS they went from 11 customers down to���� four so they're moving away from SMB and more into�� uh larger market larger Enterprise deals they're���� burning twenty three thousand dollars a month in�� Revenue with about a hundred Canada Banks so he's���� happy with three to four months of Runway small�� team of seven which they're staying and focused���� on being hyper efficient in terms of acquisition�� they're using Word of Mouth AI blog posts things���� of that nature hey folks my guest today is Nasheed�� pathaki is on a mission to L8 employee experience���� and fulfillment to A Billion Lives he's building�� we soar dot AI which is enables performance and���� Elevate elevated experience uh for uh employees�� all right Nasheed you ready to take us to the top���� yeah all right so give us an update you came on�� you came on a year ago and you had just broken���� 10 customers you're doing about 15 000 a month in�� Revenue where are you today we've gone to about 23���� 000 in Revenue but the split has changed�� quite substantially so last time we spoke���� I think we were doing about a thousand�� on SAS and about 14 000 on on Consulting���� we are now about 20 21k on SAS and 203k on�� Consulting obviously because I think changes���� congratulations that's exciting it's very�� hard to sell an employee engagement tool���� when everyone is laying people off in a�� recession how have you kept your turn low���� so uh we are we are actually uh moving upscale�� we a lot of customers that we did refer to in���� the last kind of meeting about a year ago we don't�� work with them anymore because initially when the���� product was new we were we had no choice but to�� work in the SMB space we no longer work in the SMB���� space we are working with much larger companies�� and how many Enterprises are you working with���� for right now okay so you went from�� 11 customers down to four but you���� increased Revenue yes that's right we had we had�� customers which which were giving us 20 a month���� so so obviously it does kind of show as a count�� on the customer table but it doesn't really give���� you much yep that makes sense yeah so what we�� are now what we are now kind of working on is a���� is the internal Target of at least 100K ARR�� per client and you're at about 6 000 a month���� right now per client about 70 000 ACB per client�� right now all right no so the some of the kind of���� some of the clients are at the very early�� stage of implementation so I'm not counting���� their revenue in right now so so basically we�� are talking about on an average 10K a month���� I see okay for each for each kind of properly�� implemented case and have you gotten the business���� to the point where it can be sustainable long term�� you are burning 25k a month last time we chatted���� it is still about the same maybe it has come�� down to 23 24. okay so have you raised more���� money or you're still using the 205 000 precede�� around you raised last year there is no money���� better than Revenue okay so you didn't raise�� more no we are not going to raise anymore okay���� that's right do you regret raising the 200k�� last year at the 10 million valuation no I���� think that was that was more around uh the�� kind of close circle of people who trusted���� me personally rather than trusting the product�� so so that's a separate thing we needed a little���� bit of money to get started but right now I�� think we are at a stage where I would very���� happily self-fund for another six months one�� year and how many folks are on the team today���� what about the product side of things what is it�� doing today give us a customer use case study here���� so um we've matured the product substantially�� while I said we are seven people we are actually���� doing the work of 25 because a lot of Junior roles�� are now being done by AI so we don't have any���� Junior product Junior information security Junior�� marketing any of those so all of those roles have���� been kind of taken over by AI interesting the�� existing people are managing so each one of us is���� literally doing the work of five people using AI�� well again name it name it name a task that you've���� used to have someone doing a person that now�� is done by AI information security policies for���� example right writing blogs well you don't need�� people to do that anymore oh what's going on there���� YouTube good to see you guys now imagine this you�� love watching these interviews with SAS Founders���� but imagine if we took all of the valuation data�� out from over 2807 interviews I've done manually���� saves you a lot of time well we've done this we've�� built the into the beautiful interface inside of���� founder path check this out I'll show you how you�� can access this in a second but you log in you���� connect your stripe account you see your valuation�� real time you can see what it changed over the���� past 88 days and even set goals for evaluation�� this year now the secret valuation is there's���� many different ways to value a SAS business so the�� reason you're going to see three or four different���� evaluations inside of your founder path dashboard�� this is all free by the way is because depending���� on who's doing the buying of your SAS company�� you're going to get a different valuation a VC is���� going to pay a different valuation private Equity�� Firm is different if you're going to do a minority���� sale that's different and if you sell the whole�� business that's a different valuation you can see���� all those when I hover over here here right so the�� teal is what a VC would pay yellow is what private���� equity and red is if you sold the whole thing�� outright now what's cool about this is this is not���� built off random data again you guys hear these�� interviews on YouTube all these datas are built���� from real-time valuation data points Founders�� share with us on the show so traction 1.2 million���� seed round 3.7 raise they sold 22 percent of their�� business go in here and filter by the event maybe���� you only want to see companies that have sold the�� whole business well here are a bunch that have���� been acquired the valuation and the multiple�� maybe you're going out right now and you're���� raising your seed round well go in here and look�� at all this recent seed deals that went down what���� they raised what valuation they raised at and what�� percent that they sold there's never been a larger���� data set of SAS valuation than what you can get�� now inside of founder path and we're thrilled to���� bring it to you all right we're gonna go back to�� the YouTube video here in a second but if you want���� to check this tool out if you want to jump in and�� sign up you can check it out for free to get your���� valuation at this link this link founderpath.com�� forward slash products forward slash evaluations���� or if you go to founderpath.com and hover over�� products click on get your evaluation here���� and go ahead and sign up to give it a whirl again�� all that valuation data live right inside the���� platform I hope to see you there all right let's�� jump back into the interview okay so where I'm���� on your blog right now what what which of these�� can I click on that was written by a machine AI���� sorry guys didn't get that say that again I'm�� on your blog right now well actually how do���� I get to your blog so you can find the blogs�� on LinkedIn published by the resource handle���� oh I see you don't put them on your�� website uh we don't we don't we don't���� actually use the website so the website�� is there just for people to know that���� there is a website but we don't attract�� traffic through the website every customer���� we are getting these days is through�� Word of Mouth every single customer���� uh and literally after the first Enterprise�� customer the cost of client acquisition is zero got it okay um got it I guess so how do�� you go get you have four right now how do���� you get more customers faster we are in we�� are not in a hurry to get customers faster���� or you better be you're burning 25 Grand a month�� so we'll we'll cover it we'll break even by the���� time we get the next one paying their annual uh�� allow annual fee in advance so we will break even���� with the customer we don't need to worry about�� that which is why we don't need to raise cash���� urgently or anytime soon we're happy�� delaying the fundraising a year or���� two years down the line how much�� runway do you have in the bank today���� we've always had a three to four month Runway�� okay so you're comfortable operating with just���� today about 7 500k in the bank and then you're�� burning 25k a month so that's three to four months���� of Runway because because we know that there�� is constant kind of business coming through���� uh it could be a one-off Consulting deal which�� which is high value it could be uh we we don't���� uh so our pricing is also annual in advance we�� don't have the monthly payment kind of a thing���� so we get cash up front yeah I guess that makes�� sense it's just how do you keep top tier Talent���� when they know you only have four months of Runway�� left will be just three people in the core team���� we will not hit 10 people in the next seven�� eight months I don't need to hire more people you don't think you can pick off the top�� sales rep from your biggest competitor���� and add customers faster not not right now we�� are as I said we are we are...