Understanding Subscription Business Ep 179 with Patrick Campbell

Understanding Subscription Business Ep 179 with Patrick Campbell

Patrick Campbell has seen inside more subscription and SaaS companies than anyone else in the world. As the co-founder & CEO of ProfitWell (formerly Price Intelligently), he is leading a scrappy team of 40, who are helping some of the world’s best companies (like Zapier and Wistia) identify pricing and growth strategies that are actually working today. Patrick has bootstrapped ProfitWell from nothing in 2012, to $10 million in 2017.

Six years ago, Patrick was hit with the inspiration to launch ProfitWell after seeing many founders putting blood, sweat, and tears into building businesses with their bare hands; and when time came to put a price on their work, they’d rely on faulty data or “gut feelings”, leaving an enormous amount of cash on the table as a result.

Today, 25% of all SaaS businesses (8,000+ companies) use ProfitWell to get all of their subscription and financial metrics in one place for free. Patrick’s mission is to use the huge amount of proprietary industry data and experience they have to help companies apply the best strategies for finding and retaining customers.

The Beginnings

  • He initially wanted to become a cardiovascular surgeon, rather than being an entrepreneur. Although, as a kid, he was into “trading” while in kindergarten school, with some food & snacks.
  • After finishing school, he ended up applying to 80 different countries, until he became working for the U.S.A. government as an intel analyst.
  • He has finished with degrees of Bachelor of Sciences in Economics & Political Science in Bradley University, and took up Computer Sciences in Harvard University Extension School.

ProfitWell

  • He is the CEO of ProfitWell (formerly Price Intelligently), the software for helping subscription companies with their monetization and retention strategies. Prior to ProfitWell, Patrick lead Strategic Initiatives for Boston based Gemvara and was an Economist at Google and the US Intelligence community.
  • It is the first business intelligence platform to bring together all of recurring revenue business’ financial, usage, and attribution data to one place..

Get In Touch            


Show Notes Timestamps

[00:54]     Victor gives an introduction to guest, Patrick.

[01:43]     Patrick on the start of the entrepreneurial journey.

[03:55]     From finishing school to ProfitWell.

[06:35]     He shares about his experience as an employee.

[08:45]     Patrick talks about his first business Price Intelligent, now ProfitWell.

[10:50]     Victor asks him about SaaS products, and some of his insights on the industry.

[17:25]     How Patrick started the business.

[19:00]     Victor asks him on how his team looks like, today.

Wisdom has to be learned, it can’t be taught.

[22:10]     What a day looks like for Patrick.

I wanna basically, completely be able to hit by a bus, and the business [still] be perfectly fine.

[26:00]     His best and worst habits.

[28:54]     Victor asks on the book that has made the biggest influence in Patrick’s life.

[33:10]     In two years time…

[34:30]     Keeping in touch with Patrick. Best in LinkedIn.

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