A conversation with Markus Palm, co-founder of Featurebase, about building a successful bootstrapped SaaS company at age 21. Markus shares insights on product development, distribution strategies, and startup advice for young entrepreneurs.

Key Points:

Company Overview:

* Featurebase is a product feedback and management tool

* Founded by 3 co-founders, 21-22 year olds

* Currently at $50K MRR with 600 paying customers

* Bootstrapped with no external funding

* Negative churn rate (upgrades exceed churns)

Product Development:

* One release every 1-2 weeks *Disclaimer: In the discussion Markus mentioned shipping three or more times a week, but that was false wording.

* Focus on making features intuitive and self-explanatory

* Use their own product for feedback collection

* Prioritise features based on customer revenue impact

* Planning to expand into live chat and ticketing

Distribution Strategy:

* Started with Google Ads targeting competitor alternatives

* Created comparison landing pages for ad traffic

* Focus on 1-2 main marketing channels

* Building long-term SEO and content strategy

* Leveraging "Powered by Featurebase" links for organic growth

Key Advice for Young Founders:

* Start with the right team before quitting jobs

* Focus on core skills and capabilities

* Don't need an original idea - can improve on existing solutions

* Keep team small (3-4 people) initially

* Build relationships through work experience

Notable Quotes:

"You don't need many people. You need one person for each core activity that your startup does."

"If you're 20, get the right people around you and get the right skills."

"Don't start with an idea - start with a problem to solve."

Links:

* Featurebase website

* Markus Palm's social media

The episode provides valuable insights for early-stage founders, particularly those starting companies at a young age, with practical advice on product development, marketing, and team building.

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