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 Karsten Madsen, CEO and Co-Founder of Morningscore.
Karsten shared insights into his founder journey, the challenges of building a startup, and the exciting future of Morningscore.
Welcome to SaaS Life Spotlight
Dan: Hey there, welcome to SaaS Life Spotlight. It's my great pleasure to welcome today's guest, Karsten Madsen, CEO and founder of Morningscore. How are you today, Karsten?
Karsten: Hey, I'm great. It's sunny today in Amsterdam. It is in Manchester. I really don't understand why Europe's getting the hottest weather. It seems like it must be in the world at the moment. It can't get hotter than this, surely.
Introducing Morningscore
Dan: Thanks for making time available. I can only imagine how busy it is at the moment for yourself. We mentioned fundraising earlier. For anybody listening, can you give people an overview of Morningscore, as though you're speaking to a child?
Karsten: We are on a mission to help one million small companies grow big by turning search engine optimization into a game. We built this tool that's like Duolingo but for Google. For companies who want to rank higher on Google and get more customers. We help customers grow by them doing it themselves, just like Duolingo helps people grow in their language. We bring them money, that's our value.
The Startup Journey
Dan: How's the journey been so far? How have you found it in the SEO marketplace?
Karsten: We are around a thousand customers now and six years old. We were founded in Odense, Denmark, but I'm in Amsterdam now with a team member in Slovenia. The rest of the team, 12 people, are in Denmark. It's been fun. We ended up with this gamified brand, a purple tractor at our office, and we wear space suits at work. It's a little bit crazy, but it helps with the brand.
The Origin Story
Dan: What was the origin story for Morningscore? Did you wake up one morning and think the SEO market needs revolutionizing?
Karsten: For me, it's personal. I was never good at school and knew I wasn't going to be good at having a job, so I had to create my own company. In high school, I created a company that failed. We borrowed money from family, so we were in a bad situation. We decided to start building websites for people and needed a way to grow. I tried SEO, and for the first time in my life, I was good at something. We ranked number one on Google for our best keywords. Today, our agency Morning Train is almost 50 people. I realized SEO tools are super complex, so we built Morningscore to be like a game, making it easier and more motivating.
The Gamification and Space Theme
Dan: Was the gamification and space theme always the idea, or did you start with something else?
Karsten: We actually started with cowboys in the Wild West. My designer was supposed to build a cowboy theme but came back with a space theme instead. As fate would have it, I went to a morning party in a spacesuit that day. Riding my bike in that suit got a lot of attention. So we decided to go all-in with the space theme.
Challenges in the Journey
Dan: What has been the biggest challenge so far on the journey?
Karsten: The biggest challenge was running out of money. We had 4,000 people signed up to test the beta, but the product wasn't ready. I pushed the launch button too early, and it failed completely, killing the hype and almost the business. The lesson was I should have asked our investor for more money instead of pushing a premature launch. It set us back two to three years.
Looking Ahead: The Future of Morningscore
Dan: If we look ahead at the next 12 months, where would you like to see Morningscore? What changes would you like to see?
Karsten: I'd like to see us handle the demand. We're growing fast, and our engineering team is stressed. We need funding to scale our data and engineering team. Our challenge is scaling up our infrastructure, tech, and product.
The Benefits of Partnerships
Dan: Have you found that the go-to-market route through partnerships is easier and preferred?
Karsten: It's always a challenge to attract the right people. We had 4,000 people in beta, but many were students or had no money. Our growth engine is working now, but we need to scale. Developing the product we dream about is still our biggest struggle. We want to be in the top three SEO tools. We’ve made a huge discovery that could improve our keyword data and catapult us into that top category.
Personal Growth as a Leader
Dan: What areas do you want to develop as a leader and founder over the next 12 months?
Karsten: I’ve learned a lot about what I’m good at and what I’m not. Honest feedback is hard to get. Stress is something I deal with, so I’m building habits to handle it. I need to ally with people who handle finance and administration, while I focus on vision and energy.
Morningscore's Company Culture
Dan: How would you describe the culture of Morningscore?
Karsten: Flat hierarchy. Everyone is respected the same, no matter their title. We joke with each other and play games at the office every day. We work hard but also play hard. I want to keep the spirit of an underdog.
Advice for Aspiring SaaS Founders
Dan: What advice would you give to a would-be founder of a SaaS business?
Karsten: Keep grinding. Steady wins the race. If you have a mission, keep doing it. You’ll be surprised how you can grow from knowing nothing to knowing everything if you just keep at it. Premature death in the SaaS scene is common, but often it’s better to keep going.
Dan: Thank you very much, Karsten, for spending time with us and talking about your journey.
Karsten: Thank you, Dan. I look forward to hearing and seeing more about the future.
Dan: Thank you.
Conclusion
Karsten Madsen and Morningscore exemplify innovation and resilience in the SaaS industry. By transforming SEO into an engaging game-like experience, Morningscore empowers small businesses to grow independently, much like how Duolingo aids language learners. Karsten's journey from a high school entrepreneur to the founder of a successful company underscores his dedication and creativity.
Despite facing challenges, including a premature product launch, his commitment to continuous improvement and a vibrant company culture sets Morningscore apart. With a clear vision for future growth and a strong team spirit, Karsten's leadership is a testament to the potential of perseverance and innovative thinking in the tech world.
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.