235: CinchShare: How a Stay at Home Mom Built a $5M ARR SaaS Company - with Jennifer Johnson


Manage episode 250343936 series 2391855
By Omer Khan. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Jennifer Johnson is the founder and CEO of CinchShare, a social media marketing product for home-based direct sales businesses. In 2013, Jennifer, a stay-at-home-mom was trying to use Facebook to get more sales for her side-business. The more active she was on Facebook, the more sales she seemed to get. But this often meant spending over 2 hours a day scheduling Facebook posts. And as a mom of 4 kids, it was really hard for her to find that much time every day. So she signed up for different social media marketing tools such as Hootsuite, Buffer, and PostPlanner. But they didn't actually save her that much time. She wanted a tool that would simplify and speed up all the repetitive tasks she was doing. Her husband didn't have experience building software but was technical enough to eventually be able to create a simple tool to schedule Facebook posts the way she wanted. And overnight, she went from 2 hours to just 20 minutes a day to schedule Facebook posts. Eventually, they built a website and started selling this tool to other home-based business owners. And their new SaaS business started growing and attracting more customers. Things were looking great. Until one day, the couple rolled out an update to their tool and everything suddenly broke. They had hundreds of people complaining and many of them were really angry. It was a lot of pressure for both of them. Jennifer ended up in tears that day and her husband felt so much pressure on his shoulders that he was hyperventilating. They weren't sure if they could get through this situation or even how to fix it. And suddenly they had a lot of doubts about whether they were cut out to run a software business. But eventually, they did get through that situation. They rolled back to a previous version of the tool and the kept their customers informed and did their best to put things right. Today, Jennifer's business does over $5 million in annual recurring revenue. The business is bootstrapped, profitable and she's taken zero outside investment. It's a terrific story. I hope you enjoy it.

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239 episodes