Welcome to the latest instalment of SaaSlife SPOTLIGHT, where we shine a light on innovative SaaS companies and their leaders. Today, we are thrilled to feature Nikola Velkovski, CEO and Co-Founder of HeyReach.
Nikola shared insights into his founder journey, the challenges of building a startup, and the exciting future of HeyReach.
Introduction
Dan: Welcome to the latest edition of SaaSlife Spotlight. It's my pleasure to welcome Nikola Velkovski, CEO and co-founder of HeyReach. How are you today, Nikola?
Nikola: Doing great, thank you.
Dan: Thank you for inviting me to this spotlight.
Nikola: It's our pleasure.
Wearing Multiple Hats
Dan: How many hats are you wearing at the moment?
Nikola: Currently none, but usually all of them—from product design to sales, fundraising, hiring, HR, and more. In the pre-seed/seed stage, you're not just a CEO; you're a product person trying to find market fit.
Overview of HeyReach
Dan: Can you give an overview of HeyReach as if speaking to a 10-year-old?
Nikola: Sure. HeyReach is a LinkedIn automation tool for lead generation agencies and large sales teams. It helps you find customers on LinkedIn and automates the process of reaching out to them.
Dan: What's the unique selling point for someone who spends all day on LinkedIn?
Nikola: It helps you find potential customers and reach them automatically without manual steps or bypassing limits. HeyReach is the only tool specifically designed for lead generation agencies and sales teams, allowing unlimited scalability while keeping accounts safe.
HeyReach offers end-to-end solutions, from outreach to a unified inbox for all LinkedIn accounts. It's simple, plug-and-play, and does the job you need.
Dan: If I have an ideal client in mind, how will HeyReach help me scale my market approach?
Nikola: Exactly.
Inspiration Behind HeyReach
Dan: What inspired you to set up HeyReach?
Nikola: Before HeyReach, we had Howitzer, the first Reddit outreach tool. We decided to shift to a more mature B2B market because existing LinkedIn tools didn't allow the scalability we needed. We combined the best features of top tools, interviewed customers, and built a scalable MVP, which we then launched.
Transition Challenges
Dan: How was the transition from tech and market perspectives?
Nikola: It was weird. We pivoted away from the Reddit tool while dealing with Reddit's lawyers. We didn't acknowledge the pivot initially and started burning all our funds to develop the new tool. Once the beta was done, we rebranded and followed through. In hindsight, it was the best thing for the company.
Eureka Moment
Dan: When did you realize you had something significant with HeyReach?
Nikola: In October/November. We couldn't scale past $8,000 in monthly recurring revenue for six months. My sales guy suggested targeting lead generation agencies. After we focused on them, our revenue jumped to $19,000 the next month. Now, we have over $1.2 million in monthly recurring revenue. Focusing on lead generation agencies was the eureka moment.
Case Studies
Dan: Do you have any case studies showing the success of HeyReach?
Nikola: Yes, we have many. One agency manages 550 LinkedIn accounts with HeyReach. They get unlimited LinkedIn accounts for a fixed price, crucial for predictable results. HeyReach integrates with major data providers and other tools, centralizing all LinkedIn outreach in one place without switching tabs. We don't charge per teammate or virtual assistant; it's a fixed price for unlimited accounts.
Biggest Challenges
Dan: What has been the biggest challenge for HeyReach?
Nikola: Running out of money. Last June, we were three months from bankruptcy with only $2,000 in monthly revenue. Fundraising failed, so we launched on AppSumo. The seven-day campaign made $400,000, giving us a year's runway to restructure and relaunch. The biggest challenge was funding, and we solved it through AppSumo.
Future Goals
Dan: Where would you like to see HeyReach in 12 months?
Nikola: I believe it will be the go-to outbound tool for lead generation agencies. We aim for $5 million in annual recurring revenue and to stay dynamic in the outbound industry.
Dan: Sounds like you're on the way. I look forward to hearing more.
Personal Growth Goals
Dan: Where do you see yourself in 12 months?
Nikola: I want to be more disciplined with LinkedIn content and become a better manager. Transitioning from zero to one and one to ten is different. I need to mature quickly and stay on top of industry changes.
HeyReach Culture
Dan: How would you describe HeyReach's culture?
Nikola: Work hard, play hard. We hire proactive, passionate people who push things forward. We have a dynamic team, crazy team buildings, and pool parties. We follow Mark Zuckerberg's philosophy: hire people you'd want to work for.
Advice for Aspiring SaaS Founders
Dan: What advice would you give to aspiring SaaS founders?
Nikola: Just do it. Don't overthink or wait. Launch your product, even if it's not perfect. Customers will help you shape it. Focus on the market and find a bigger TAM each year. Don't obsess over funding; there are alternative ways like AppSumo for a solid runway and initial traction. Keep it simple and start today.
Dan: Sounds like good advice. Thank you, Nikola. I look forward to seeing more of you on LinkedIn and hearing about HeyReach's journey to $5 million ARR.
Nikola: Sure.
Conclusion
Nikola Velkovski's journey with HeyReach highlights the power of perseverance and strategic pivots in navigating the startup landscape.
By addressing the specific needs of lead generation agencies and leveraging innovative automation solutions, HeyReach has positioned itself as a vital tool in the B2B market.
With a clear vision for growth and a focus on customer-centric development, HeyReach is set to become a cornerstone for outbound lead generation, driving success and scalability for businesses worldwide.
To listen to the full interview - please check it out! *Coming Soon*
Stay tuned for more insights from SaaSlife SPOTLIGHT as we continue to shine a light on the brightest stars in the industry.