Bootstrapped software founders often struggle to obtain advice and perspective that can help them as new CEOs as their businesses grow.
- They don’t have investors who help them and challenge them every month.
- They often serve niche industries without many SaaS founder peers.
But there are ways to get helpful support and high-leverage perspectives even when you don’t have a formal board.
Tracy Larson is President and CEO of WeSuite, a vertical sales automation platform designed for larger integrators who sell complete security systems for commercial and residential real estate.
She and her cofounders were in the security systems business before launching a sales software company for this market in 2008.
WeSuite is now a comprehensive solution that addresses the complex industry requirements for lead tracking, quoting, proposal management, contracting, commissions, and pipeline management.
Hundreds of integrators in the US use WeSuite for their end-to-end quote-to-contract process.
WeSuite grew profitably to nearly $5 million in revenue in 2024, when the founders sold 100% of the company to Valsoft, a buy-and-hold acquirer of practical software companies.
Tracy remains the CEO of the company, which operates independently in the Valsoft holding company.
“For founders in SaaS, especially women founders, you need to find the right people to become your personal board of advisors. You don’t need money to pay them. Just pick five people who you’ve known over the years to help you.
Ask them, Would you do this for me and be a sounding board once a month? I’d like to get your perspective on topics like these for 30 minutes. It’s not a formal board, it’s just advice and perspective.
“Establishing a personal board of advisors is a great idea. They can be women or men. And you can switch it up every year or so. Don’t worry about what you don’t know. We all have things we don’t know.”
Getting great help in the right way is a superpower of long-term CEOs.
But first, you have to admit you don’t know everything—and you could do even better with savvy support.
Check out this helpful interview with Tracy Larson on the Practical Founders Podcast.
