The 10-year grind. Startups sound sexy, but new startup founders should have more useful expectations about how to build a valuable software company.
AI or not. Funding or not. Smart founder or not.
Building a serious, valuable company to $10M in revenue is a hard, risky, and long process–when it works.
And 90% of SaaS startup founders will never get to that level of revenue and company value.
But it’s totally possible. It’s just not probable.
Most founders give up before they win bigger. Even the good ones.
Vince Mayfield, MBA is cofounder and CEO of TalkingParents, a co-parenting app for communication and coordination used by divorced parents raising children.
Cofounder Stephen Nixon was a lawyer with family cases who saw the need for a secure, unalterable communication record to improve co-parenting and family harmony.
He pitched a development company owned by Vince and Louis Anderson to build the first app.
They co-founded Talking Parents in 2016. Stephen worked with judges, courts, and lawyers to build awareness and get their first customers.
The app records and stores all communications between co-parents, including chats, messages, phone calls, and calendars.
The company started growing and eventually became profitable as word spread, they charged more for the product, and the app improved.
Talking Parents is now a profitable and growing company with well over $10 million in revenue, 65 employees, 100,000 paying customers, and 500,000 people using the app.
They are self-funded with no outside funding.
Check out this in-depth Practical Founders podcast interview with Vince Mayfield.
