First SaaS Customers: How PandaDoc Reached 10,000

Mikita Mikado and his co-founder spent months arguing about button placement instead of talking to first SaaS customers. Their first product worked - but their customer acquisition startup approach was broken. He rebuilt the business as PandaDoc and grew it to over 10,000 first customers using CRM partnerships and built-in product virality.

Getting first SaaS customers required experimentation. PandaDoc built CRM integrations that created mutual lead flow - CRM vendors got expanded functionality while PandaDoc got SaaS customer acquisition referrals. Every document sent through PandaDoc also exposed recipients to the product, converting them into new subscribers organically.

Mikita Mikado is the co-founder and CEO of PandaDoc, a SaaS product for quotes, proposals, contracts, and sales collateral. QuoteRoller grew to 3,000 subscribers before PandaDoc launched, proving demand but revealing the product was too narrow. PandaDoc focused on SMB at $19-$50/user while competitors chased enterprise.

🔑 Key Lessons

• 🎯 Talk to first SaaS customers before arguing about features: Mikita and his co-founder spent months debating button placement on QuoteRoller instead of gathering customer feedback, leading to a product with low conversion rates.
• 🤝 Build CRM partnerships to acquire first SaaS customers: PandaDoc integrated with CRM systems that extended their workflows while driving leads back, creating a mutual growth engine that scaled both businesses.
• 🚀 Leverage natural product virality for customer acquisition: Every PandaDoc sent exposed the recipient to interactive documents and e-signatures, converting document recipients into new subscribers organically.
• 📉 Start narrow, then expand to a full platform: QuoteRoller grew to 3,000 subscribers as a quoting tool, but customers needed proposals, contracts, and e-signatures - expanding to a full document lifecycle.
• 🧠 Maximize growth experiments instead of optimizing one channel: Mikita tried CRM integrations, content swaps, community engagement, SEO, and viral videos - betting that more iterations increase the probability of finding what works.

Chapters

• Introduction
• Mikita's favorite quote - what doesn't kill us
• What PandaDoc does and who it serves
• Origin story - internal pain at their previous business
• QuoteRoller - the first product that wasn't quite right
• The wake-up call - getting first SaaS customers wrong
• Types of feedback and the pivot to PandaDoc
• Growth strategies - CRM partnerships and experimentation
• How CRM integrations created mutual lead flow for first SaaS customers
• Rationalizing integration investment vs quick wins
• Luck vs iteration - maximizing growth experiments
• The dumb thing that worked - viral video and investor
• Startup of the Year award and US visa story
• SEO, SEM, and content marketing at PandaDoc
• Competition and why PandaDoc focuses on SMB
• Pricing - three frappuccinos per month
• Fundraising after bootstrapping to profitability
• Advice - people skills, customer focus, validate before building
• Lightning round

Resources

• Full show notes: https://saasclub.io/177
• Join 5,000+ SaaS founders: https://saasclub.io/email