#30: Bootstrapped IT mgt. software to over $10 million in annual sales before being acquired - Scott McCausland

Scott McCausland was an experienced software sales leader who decided to go out on his own in 2008 to build a new software business. His technical cofounder built the first version of their new software and Scott started selling it. MVP Systems Software was underway without any outside funding.  They kept adding name-brand customers who used their JAMS workload automation and scheduling software in their IT departments for a variety of scheduling and automation tasks that saved time and money. It was an unsexy but mission-critical software for their users. Their software grew more powerful and useful and they steadily added sales, development, and support staff.  The company grew to over $10 million in annual revenues with 70 employees in 4 global offices before being acquired in 2018 by Fortra (formerly Help Systems. Scott left Fortra in early 2020 and is now working on his next software company. In this episode, Scott explains: Why they sold their product aggressively, but grew the business steadily and managed cash conservatively How they generously compensated salespeople and employees rather than give incentive stock options Why they decided to sell the company rather than raise funding or keep growing organically What it was like to join their acquiring company and be part of a much bigger team How he helps tech founders understand the basics of selling and what is needed to create an initial sales machine Check out the details for this episode and find more Practical Founders Podcast episodes at practicalfounders.com.