Learn to live with being rejected. It will inevitably happen, and most probably it won’t be personal. It’s also nice to know that ALL the greatest men in this world have been rejected: you are not special, and you will be rejected too. To help you cope with that, read the book “Rejection Proof”.
As part of my series about the “5 Lessons I Learned When I Created My App or SAAS”, I had the pleasure of interviewing Matt Lessard of BusterFetcher. Passionate about entrepreneurship since his childhood, and even more about e-commerce businesses, Matt likes to find the best tools and resources to help fellow entrepreneurs to grow their business exponentially. After years of growing other businesses, two years ago he launched his own SAAS, Buster FetcherTM, that helps businesses get refunds on late shipments and unused labels from their carriers, as well as provides actionable data to help improve their shipping strategies.
Thank you so much for joining us! Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
I have been in the eCommerce industry since 2001. I even developed my own eCommerce platform back then, just like Shopify is now.
You have to know that I am a real entrepreneur, and deep down have always been. My head is ALWAYS full of ideas, some good and some not so good.
My biggest problem not finishing what I start. Since 2001, I started several eCommerce but I have never brought them to their full potential, until in 2013. That’s when I founded a new eCommerce, and this time, I brought it to a successful and mature state.
My SAAS is the second business that I am pushing all the way through to being successful.
What was the “Aha Moment” that led you to think of the idea for your current company? Can you share that story with us?
This other eCommerce that I had right before my SAAS, in 2013, was selling and shipping to 80 countries. Many of our customers were complaining, with good reason, when their packages arrived late. Some people were paying $30 for our product and to receive it as fast as possible, would pay up to $70 for shipping.
So when their packages arrived late, I had to reimburse them, because our customer service is our top priority. These delivery mishaps were costing us even more than our profits.
Then our carrier told us that they offer a “late delivery guarantee”, so we could get reimbursed by them. This was a game-changer. Our profit margins grew significantly.
The problem was that we had to do all the claims manually, and this is the kind of job you would only ask your worst enemy to do: it’s long and complicated. There is a time limit to file claims, and not all late deliveries are eligible for refunds.
On the one hand, we were getting a lot of our money back, but on the other hand, it was taking up a lot of our time. That’s when I had my ‘Aha Moment’: I decided to build a program to automate most of the job, for our own benefit.
Then, I talked about this guarantee to other businesses around me, and nobody knew about it. The more I talked to entrepreneurs about my program, the more people were interested in benefiting from it too. That’s when I decided I would build a new company, a SAAS actually, to help businesses get their money back.
Can you tell us a story about the hard times that you faced when you first started your journey? Did you ever consider giving up? Where did you get the drive to continue even though things were so hard?
A SAAS company is so different than the kind of business I was running before. I was used to B2C companies, not B2B. Even marketing, SEO… everything was so different. It was hard to adjust.
One other thing that is hard to deal with is the perception of our target clients: they all think that our services are too good to be true. They don’t believe us when we explain to them that they can get back up to 20% of their shipping costs. They are losing all this money, every day, and it never occurs to them that they can get it back, even though it’s theirs.
Yes, I wanted to give up a couple of times. But at the same time, our current clients are so excited about all the money they get back directly from their carrier, without having to do anything, so now I see that my hard work is appreciated and actually makes a real difference.
I also worked on myself. I read a lot of books and I kept moving forward until I found the right recipe for success for this particular type of business.
So, how are things going today? How did your grit and resilience lead to your eventual success?
Business is going great now. The fact that I kept trying, again and again, brought me to where I am today: leading a successful SAAS company.
What do you think makes your company stand out? Can you share a story?
In the Province of Quebec, where our office is located, we are the leaders in our industry. And businesses are thrilled with our services.
If we compare ourselves with our competitors in the USA and the rest of Canada, our customer service really stands out. Since I had eCommerce businesses before, I understand our clients better, their struggles and their reality.
We invested a LOT into securing our clients’ information, a lot more than our competitors. Also, we offer more information and data to our clients, so they can take better decisions when it comes to their carriers and shipping strategies. This information is very simple to use, yet very advanced.
For example, one of our clients started her online business because her son was born with a heart defect. She wanted to stay at home to take care of him and be there for all his doctors’ appointments. With 2 other kids, she didn’t have time to file the claims by herself. Now she gets hundreds of dollars refunded to her each month, and that makes a big difference for her and her family.
Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?
For your business to thrive, you, as an entrepreneur, also have to thrive. So take care of yourself, and read a lot of business books. Invest in yourself so you can invest a better version of yourself in your business.
Lately, I’ve started to follow ‘The Miracle Morning’ routine, and I strongly suggest all entrepreneurs do the same. We are so preoccupied with our business all day long, so taking care of ourselves first thing in the morning makes sure we have enough fuel to face the day.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?
I am very fortunate because I have a mentor that specializes in sales and SAAS. I have a second mentor that questions everything I do. This way, I feel my business is strongly solidified.
Ok thank you for all that. Now let’s shift to the main focus of this interview. Approximately how many users or subscribers does your app or software currently have? Can you share with our readers three of the main steps you’ve taken to build such a large community?
Our community is growing every day, faster and faster.
What is your monetization model? How do you monetize your community of users? Have you considered other monetization options? Why did you not use those?
We usually bill 40% of the total that we recuperate for our clients. This all depends on the number of packages that are shipped from our clients. The more they ship, the less we bill.
For example, if we get them $1000 in refunds over the course of several months, our due would be $400. They, therefore make a net gain of $600 without time or effort on their part. We also offer them many other functions that can help them lower shipping fees even more for FREE such as personal statistics that can help their decision making.
Based on your experience and success, what are the five most important things one should know before one wants to start an app or a SAAS? Please share a story or an example for each.
If you want to start an app or a SAAS, you have to realize that it will be more complicated than you think. It will take more time and more resources than initially planned.
Running a regular business is like driving a car. Running a SAAS, it’s driving a jet plane. Everything is bigger, faster, and definitely puts you to the test. Nothing so far in my life has made me grow this much.
The five most important things to do are:
1) Precisely define your target audience
For example, women 35 years old, like extreme sports, don’t have kids; or marketing manager, men, 40 to 50 years old, working at a multinational corporation
2) Surround yourself with the right people
This is truly an accelerator for success: we are the average of the people we spent the most time with. This was a game-changer for me: surrounding myself with successful leaders jump started my SAAS.
3) Learn how to sell the right way
Even though you might hire someone else to sell your SAAS, learn how to sell it yourself, as simply as possible. Test your speech with your friends: they need to clearly understand your SAAS within 30 seconds. If they don’t, improve your speech even more.
4) Hire more team members before giving yourself a paycheck, even if you need to have another job to pay the bills.
This will tremendously help the growth of your SAAS.
5) Learn to live with being rejected.
It will inevitably happen, and most probably it won’t be personal. It’s also nice to know that ALL the greatest men in this world have been rejected: you are not special, and you will be rejected too. To help you cope with that, read the book “Rejection Proof”.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
I like the idea of paying it forward. If everyone would do this on a daily basis, this world would be a totally different place.
How can our readers follow you on social media?
This was very inspiring. Thank you so much for joining us!
About the author:
Mitch Russo started a software company in his garage, sold it for 8 figures and then went on to work directly with Tony Robbins and Chet Holmes to build a $25M business together. Mitch wrote a book called “The Invisible Organization — How Ingenious CEOs are Creating Thriving, Virtual Companies” and now his 2nd book called Power Tribes — “How Certification Can Explode Your Business.” Mitch helps SaaS company founders scale their own companies using his proprietary system. You can reach Mitch Directly via email@example.com