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How I bootstrapped video management SaaS to over $10m ARR

Why subscription and annual upfront agreements matter, how to avoid the services trap, and what a minimum viable team looks like

Chad Lakin · Shootsta

Published September 1, 2022
About this resource

Chad Lakin of Shootsta shares lessons learned from bootstrapping to $10m ARR.

In 20 minutes, you’ll learn:

- Why founders give away too much equity too soon

- Keys to getting annual agreements paid upfront

- How to avoid getting stuck in the services trap

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What you’ll learn

Chad Lakin describes Shootsta’s path from video services to SaaS, including fast delivery, enterprise traction, a purpose-led growth model, and the idea of a minimum viable team for new markets.

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Key moments

Find the ideas you need and go straight to the source.

Shootsta and the bootstrap journey

“put your hands together as we welcome Chad up to the stage Chad hey great to meet you guys I thought I was on at four o'clock so I'm really glad I randomly walked in here so thank you Nathan you guys having fun so far you guys you guys kind of ready to go home though no let's go great awesome that means you're gonna be engaged okay so I work for a company called shoots to anyone ever heard of us Nathan has one person yeah thank you guy that's because we met yesterday but I appreciate that man”

Using service delivery to create value

“our team of In-House editors and creatives would turn around their video content in 24 hours so it was super cool super fun really cool to be involved in a creative medium by the way where you can just go face to face with a client and help unlock these storytellers Within These large organizations [Music] Nathan requires that we put numbers in our slide so here is our AR over the past few years so as you can see launching in July of 2015 that ramp up in the first five years there and then covet hit which was super fun”

Winning enterprise opportunities

“bunch of high net worth individuals I kid you this is the great startup stories right we're on with Kiwanis Airlines everyone know Qantas Airlines pretty big so we had pitched in front of them hey we want to help you scale your video content they call us 30 minutes as we're setting up for this presentation that caused hey hey we're in right you're hit okay can we put your logo on our slide deck yeah no problem it's like literally can't make this stuff up so it was amazing to be a part of that you guys know that feeling in the early stage so we realized we've hit a sweet spot with mid Market to Enterprise and”

Purpose and growth goals

“not a part of this uh event but Nathan I told them next year he needs to be here but you know I was like what what is your why you know we talk about that but what's the goal what are you trying to do and some of them can be really lofty and important right I'm going to change the way people communicate forever some people can be like I'm gonna exit for 100 million dollars I just want the cash and that's okay too that's everyone's got their goal right so allow that to drive you know the decision-making process for your business and lastly how you're going to compensate your employees”

Launching with a minimum viable team

“starting something by yourself in a new region and think about your mvt so your minimum viable team is that a real thing because I made up that acronym is it is is okay we're good with it all right we'll keep it we'll add it to the vernacular so what's your minimum team to get started what do you need in order to test the market so is that a sales person in the region is that this sort of chameleon General that can go in and do sales and do customer success and all that fun stuff like Chris was talking about earlier so determine what that is for us”

Over the next 20 minutes

“Subscription is the magic word”

Do they have a fear of commitment?

“Do they have a fear of commitment?”

*Not actual devs building tech

“*Not actual devs building tech”

From Service to SaaS

“Don’t be afraid to start with humans”

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Resource files

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  • How I bootstrapped video management SaaS to over $10m ARR - Slide Deck

About the speaker
Chad Lakin

Chad Lakin

SVP of Revenue · Shootsta

Chad is a strategic leader, passionate about growing awareness and revenue for brands that solve real problems. He started their professional career in music management and have spent the past 12 years in the digital media and technology space, working with companies like Apple, Salesforce, and T-Mobile. Building teams, products, and growth strategies from the ground up puts a smile on Chad's face. Chad has recently joined PublicSq. in 2023 as the SVP of Revenue.

Company revenue
$13M
Team size
200

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Slide by slide

Each slide with a short explanation of what it shows. Open the slide text for its exact wording.

12 passages

Subscription-led bootstrap growth

  1. Slide text

    … In under 5 years Chad Lakin Director at Shootsta Founder500, Sept 2022 How we bootstrapped to over $10m ARR

  2. Three lessons frame the talk

    Subscription revenue, a service-to-SaaS transition, and entering five markets in three years anchor the talk. The listed tactics include annual agreements paid up front, learning cheaply, pivoting beyond services, and finding local leaders.

    Slide text

    Over the next 20 minutes: Subscription is the magic word I’m going to show you $10M BOOTSTRAPPED SERVICE TO SAAS 5 MARKETS IN 3 YEARS Mid market annual agreements up front Deferred Revenue is your friend Service is not a dirty word Learn the Cheap Way Make sure you pivot and don’t get stuck on service Find your generals What’s your MVT to launch Same…but different

  3. One platform for video creation

    Shootsta brings video creation work into one platform. The laptop screenshot shows a project dashboard with recent video projects and production tools.

    Slide text

    One platform for all your video creation needs

  4. Startup life at Shootsta

    A team photo introduces the people and workplace behind the startup story.

    Slide text

    #Startuplife

  5. Revenue grew past $13 million

    Annual revenue rises from $462,642 in 2016 to $13,143,472 in 2022, with its steepest year-over-year increase from 2018 to 2019.

    Slide text

    Revenue Growth

Annual commitments and deferred revenue

  1. Use subscriptions to fund technology

    Annual agreements paid up front can create deferred revenue that funds product development. The slide focuses on mid-market and enterprise customers and says $9.5 million in technology would otherwise have been impossible.

    Slide text

    Do they have a fear of commitment? Would someone commit for a year? Layering revenue month over month I’m going to show you SUBSCRIPTION IS KEY WHERE TO FOCUS PUT YOUR MONEY TO WORK Mid-Market to Enterprise Annual agreements paid upfront Used deferred revenue to build tech 9.5M in tech would have been impossible

  2. People can stand in for technology

    A photo of a video production team at work illustrates the service side of the business; the caption clarifies that these are not developers building the technology.

    Slide text

    *Not actual devs building tech

Moving from service to SaaS

  1. Test demand with a service first

    Starting with people and services can reveal what customers want at lower short-term cost and provide a blueprint for SaaS. The slide also cautions founders to make the transition in time and retain room for an employee share plan.

    Slide text

    From Service to SaaS Don’t be afraid to start with humans Yes they can be messy…but less expensive than tech in the short term I’m going to show you SERVICE ISN’T A DIRTY WORD TEST WITH SERVICE RETAIN EQUITY Find out what the market wants with service Gives you a blueprint for the SaaS Don’t wait too long to SaaSify your business Many Founders give away too much too early Stay Focused on why you started the business Allow space for an ESOP (It’s always more than you think)

  2. A global footprint across five markets

    A world map marks Shootsta locations across several continents, with city imagery along the bottom to emphasize its international reach.

Expanding with focused market teams

  1. Build a team for each market

    Entering five markets in three years requires local leaders, a minimum launch team, and decisions about which roles to centralize. The slide warns that buyers, processes, expectations, and needs vary by market.

    Slide text

    5 Markets in 3 years You can’t be everywhere. Carry the purpose Don’t leave them on an island I’m going to show you FIND YOUR GENERALS MVT TO LAUNCH SAME BUT DIFFERENT What’s the Minimum Team you need to start What roles can you centralize Learning curves can be steep Be ready for market variances Buyers, process, expectations and needs may be different Don’t assume 1 size fits all

Bootstrapping lessons in summary

  1. The recap returns to three themes

    The closing recap reinforces subscription revenue, the move from service to SaaS, and expansion into five markets. It repeats tactics such as upfront annual agreements, cheap learning, focused pivots, and finding local leaders.

    Slide text

    Over the last 20 minutes, I showed you: Subscription is the magic word $10M BOOTSTRAPPED SERVICE TO SAAS 5 MARKETS IN 3 YEARS Mid market annual agreements up front Deferred Revenue is your friend Service is not a dirty word Learn the Cheap Way Make sure you pivot and don’t get stuck on service Find your generals What’s your MVT to launch Same…but different

  2. Thank you from Chad Lakin

    Chad Lakin closes the talk with a thank-you message and the September 2022 date.

    Slide text

    Sept 2022 Chad Lakin Director at Shootsta