Bootstrapping SaaS to profitability, focusing on the customer with Philippe-Antoine Lehoux @Missive

saas.unbound is a podcast for and about founders who are working on scaling inspiring products that people love, brought to you by https://saas.group/, a serial acquirer of B2B SaaS companies.

In episode #41, Anna Nadeina talks with Philippe, CEO and founder of Missive, Collaborative email and threaded group chat for productive teams.

Background: The Early Days of Philippe-Antoine Lehoux

Philippe-Antoine Lehoux’s entrepreneurial journey began at a young age. With a passion for technology and the internet, he started experimenting with online projects as a teenager. His early ventures included creating flash game portals and learning to code, which laid the foundation for his future businesses.

After obtaining a degree in business management, which he found unfulfilling, Philippe decided to pursue his passion for entrepreneurship. He embarked on a journey to bootstrap his own companies, leading to the eventual founding of Missive.

The Inspiration Behind Missive

The seed for Missive was planted during Philippe’s time running a co-working space. It was here that he met his future co-founders and began developing ideas for new projects. One such project was a name badge printing service, which evolved into Conference Badge. While working on this project, Philippe and his team realized the limitations of traditional email communication and the need for a collaborative solution.

Thus, the concept of Missive emerged: a platform that allows teams to collaborate seamlessly through email. This idea was driven by the desire to enhance productivity and eliminate the isolation often associated with traditional email clients.

Bootstrapping: A Conscious Decision

Philippe and his co-founders made a strategic decision to bootstrap Missive rather than seek external funding. This choice stemmed from their belief in building a sustainable business model that prioritizes long-term growth over short-term gains. Bootstrapping allowed them to maintain full control over their vision and direction.

While they initially explored the possibility of raising funds through Y Combinator, their experiences during the application process led them to conclude that they were better suited to self-fund their growth. This decision ultimately proved beneficial as they focused on product development and customer satisfaction.

Navigating the Acquisition Process

Philippe’s entrepreneurial journey also involved selling two previous companies, which provided valuable insights into the acquisition process. His experience selling Conference Badge to Tiny was marked by simplicity and efficiency, allowing for a swift transition without the complexities often associated with acquisitions.

Through these experiences, Philippe learned the importance of maintaining a lean operation. With a small team, they could quickly gather necessary information and streamline the acquisition process. This approach ensured that the core business operations remained intact while navigating the complexities of selling a company.

Building and Scaling the Team

As Missive grew, so did the need for a dedicated team. Initially, the company operated with just three founders, but as the demand for their product increased, they recognized the need to expand. However, the process of hiring and scaling the team was not without its challenges.

Philippe acknowledged that transitioning from a small team to a larger organization required a shift in mindset and structure. They needed to implement processes to ensure effective communication and collaboration among team members. With the hiring of a dedicated team member to oversee these aspects, Missive began to thrive in its new structure.

Transparency and Customer-Centricity

One of the core values at Missive is transparency. Philippe and his team believe in openly sharing information with both employees and customers. This approach fosters trust and engagement, allowing customers to gain insights into the company’s direction and product roadmap.

Philippe’s commitment to customer-centricity has been a driving force behind Missive’s success. By prioritizing customer feedback and understanding their needs, the team has been able to continuously improve the product. This focus on collaboration has resulted in a loyal customer base and a product that addresses real pain points in email communication.

The Future of Missive: Enhancing Task Management

Looking ahead, Philippe is excited about the future of Missive. The team is currently working on enhancing task management capabilities within the platform. Recognizing that many customers rely on email for task-related communication, the integration of task management features aims to create a comprehensive solution for managing workflows.

This evolution aligns with their commitment to customer feedback and innovation. By continually adapting to the needs of their users, Missive is poised for further growth and success in the competitive SaaS landscape.

Staying Passionate and Innovative

Philippe’s passion for building products remains unwavering after years of entrepreneurship. He views product development as a creative endeavor, akin to constructing a Lego set. This perspective keeps him motivated and engaged in the process of improving Missive.

Despite the challenges that come with running a business, Philippe finds joy in the act of creation. His dedication to innovation ensures that Missive remains at the forefront of the industry, continually evolving to meet the needs of its users.