How to find a pilot customer, upsell agency clients into SaaS, and avoid the early mistakes Rajeev made
Rajeev Bhatia · BPKTech
Published September 1, 2022Rajeev Bhatia, CEO and Founder of BPKTech & Simplifi Dentistry, shares:
- How to find a pilot customer to build SaaS with
- Key mistakes and what to do instead
- Agency & SaaS Upselling - Inside Info
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Rajeev Bhatia explains how an agency background informed a SaaS business: preserve runway, learn from product losses, systematize sales operations, use channel partners, and make the product stickier through a broader offering.
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“grew the sales without actually having any salesperson and then having the Consulting team help out this has business so here is our today this is our agency we just got into Inc 5000 this year so the business has been growing so as you can see from 2020 to 21 uh by employing some really cool strategies and statistics we were”
“or like our sales active didn't stop so we kept pushing sales really really hard and we only had like three sales people we still only have three sales people and so we kept pushing hard and one of the things that was happening because everyone was at home so we actually had a lot of meetings right because there was no one working and especially dental offices were shut down so we had a lot of meetings happen but no one wanted to sign up because even though we were offering free software so we probably”
“capital usually it takes them anywhere from 30 to 120 days and after that the accounts go delinquent and so our goal was to build tools and Technology to do insurance verification to do collections much much faster so um so that's what we ended up building and even today that's been the focus now we are adding more bells and whistles to it because customers are asking for it but that has become the core product for us”
“onboarded there are still areas of improvement but at least it gives us the Insight that we need into the business and not only just me but my leadership team because it helps us open up be very transparent and direct right mine is a distributed team I have half the team here some team members are in Europe and then most team members are in India so for me I think the biggest thing that I”
“good predictable results with this if I look at my pipeline for the next six months I can with 80 confidence say that we're going to get 28 deals every month and it has been going on for a while so so here's our average deal size we do around eight thousand dollars per Clinic per year we started the business with uh three month Auto renewal now we're”
“Agency to SaaS Pivot Agency sales continued Survival tactics - offered free s/w dev One customer agreed to co-develop and let us license them! Dev Cost: $250K. License / Month = $10K. ROI = 25 Months! Pilot Customer”
“Big Mistake #1 - Doing Everything Do ONE thing - Do it REALLY Well We have ONE focus now - RCM Changed Focus to Building One Platform “value of simplifying one's workload by focusing on the one most important task in any given project” 6 months & $250K Wasted”
“Big Mistake #2 - Not Measuring 2020 - No Measurement of Anything Prospecting to Won Sales Ratio Calls & Emails / sales person Automate Measurement - Then Measure Everything”
“90-Days Goals Product Dev Sales Marketing 30,000 Connects 3,000 Calls 300 Proposals 150 Clinics Signed Up 400 Story Points 6 Sprints MVP Deployed 3 Customers 1,000 Posts (SM, Blog) 300 Downloads 300 Inbound Leads 30 Conversions”
“Scaling SaaS - Simple Sales Strategy Selling direct to private practices vs. group-practices (1:N) Organizing sales to sell to groups - $600k/year Using channels to sell to private practices - $200k/year via channels. DIRECT VS CHANNEL”
Video
Cheat Code: I learned what SaaS to build for dentists by building a $7m agency first - Slide Deck
As the CEO of Dentistry Automation, he leads a team of experts in delivering dental revenue cycle solutions that automate insurance verification, claim management, and payment posting for dental clinics and support organizations. He is also the CEO of BPK Technologies, a software and data analytics company that serves healthcare, e-commerce, manufacturers, and construction clients with innovative and scalable solutions.
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28 passages
Rajeev Bhatia CEO, Founder of BPKTech & Simplifi Dentistry Founder500, Sept 2022 I Got Paid $7m To Learn What SaaS Dentists Wanted … the power of an agency first model
How Many Thank COVID for their Business Today?
Over the next 20 minutes: I’m going to show you MISTAKES Doing Everything Not Measuring Anything $0-$1M SAAS SALES No Rules AGENCY TO SAAS PIVOT Agency & SaaS Upselling - Inside Info Direct vs Channel - Salesforce Dilemma Solving something no one has solved - Last Mile Covid Scare Finding a pilot customer to build SaaS with
BPK (Agency) Revenue Growth - Today
Product Buildout with Customer Simplifi Dentistry (SaaS) Revenue Growth - Today
Agency to SaaS Pivot This is me! Losing my hair! My Customers My Employees Covid scare Agency almost got shut-down Lots of tech talent but no work - 40 people Enough cash to survive 3-months - $120K in bank. Use the time to build something
Desperate Times call for Desperate Measures.
Agency to SaaS Pivot Agency sales continued Survival tactics - offered free s/w dev One customer agreed to co-develop and let us license them! Dev Cost: $250K. License / Month = $10K. ROI = 25 Months! Pilot Customer
Big Mistake
Raise Your Hand if You Have Lost Money on Bad Product Ideas? How Much?
Big Mistake #1 - Doing Everything Wasted 45K Wasted 50K
Big Mistake #1 - Doing Everything Too Much to Admit
Big Mistake #1 - Doing Everything Do ONE thing - Do it REALLY Well We have ONE focus now - RCM Changed Focus to Building One Platform “value of simplifying one's workload by focusing on the one most important task in any given project” 6 months & $250K Wasted
Big Mistake #2 - Not Measuring 2020 - No Measurement of Anything Prospecting to Won Sales Ratio Calls & Emails / sales person Automate Measurement - Then Measure Everything
Installing a Business Operating System Each Department Has A Number - Based on book - Traction by Gino Wickman Big Mistake #3 - No OS!
90-Days Goals Product Dev Sales Marketing 30,000 Connects 3,000 Calls 300 Proposals 150 Clinics Signed Up 400 Story Points 6 Sprints MVP Deployed 3 Customers 1,000 Posts (SM, Blog) 300 Downloads 300 Inbound Leads 30 Conversions
Building a Sales Strategy & Process to Scale SaaS This saved us!
Scaling SaaS - Simple Sales Strategy
Scaling SaaS - Simple Sales Strategy Selling direct to private practices vs. group-practices (1:N) Organizing sales to sell to groups - $600k/year Using channels to sell to private practices - $200k/year via channels. DIRECT VS CHANNEL
Scaling SaaS
Scaling SaaS INSIDE INFO Agency helping SaaS team initially Knowing ton about customer Building out scripts to scale
How Many Touches are Needed to Make a Sale?
Sales Sequence
Average Deal Size - $8,000/clinic/year - Moving to 2 Year Contract
Scaling SaaS Current competing products solving 20% problems Point-of-sale integration lacking Not enough automation Solve the really hard problem that is really hard to solve by others! Last Mile
Org Chart
Over the last 20 minutes: I showed you MISTAKES Doing Everything Not Measuring Anything $0-$1M SAAS SALES No Rules AGENCY TO SAAS PIVOT Agency & SaaS Upselling - Inside Info Direct vs Channel - Salesforce Dilemma Solving something no one has solved - Last Mile Covid Scare Finding a pilot customer to build SaaS with
September 2022 Rajeev Bhatia CEO of BPK Tech & Simplifi Dentistry