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Podcast: The SaaS Podcast - AI, Growth & Product-Market Fit for SaaS Founders
Episode: Losing Product-Market Fit With $15K Left Led to $47M
Description: Mike Muhney had $15,000 left from a $100,000 angel investment when his first software product failed. Over a four-hour brainstorm breakfast, he and his co-founder sketched a menu structure on a napkin that would become ACT! Contact Management - the product that created the CRM industry and sold for $47 million.
In this episode, Mike reveals how losing product-market fit on his first product led to a startup pivot that changed everything, why he turned down his actor son's request for a million-dollar trust fund, and how a celebrity software company with Michael Jordan collapsed overnight.
The story...