When we started the Hectic Podcast, we told you that we would be checking in with our founders from time to time to see what’s going on behind the scenes. For this week’s episode, I got to sit down again with everyone’s favorite cat herder, Geoff Mina!
We talked about numerous different things, from the challenges we’ve faced since going live to our favorite moments from the past few months. There’s one part of our conversation, though, that I really wanted to share with everyone who may not be a regular listener. It really captures the heart of our team, the reasons we created Hectic, and what we’re trying to do with it.
So, if you have a couple minutes, I hope you enjoy this quick recap of our discussion. And if you have more time than that, be sure to catch the full episode too!
As we talked about everything that had happened since we first started planning for Hectic, just over a year ago, Geoff brought up a key part of our business model that we haven’t shared much about yet. Unlike many SaaS companies, we have resolved to never move Hectic from a monthly subscription to an annual pricing plan.
“It’s our job, as a service provider, as a vendor, as a solutions provider for our customers, to earn that business every single month. And that means we need to execute on the product roadmap, we need to be there to support them if they have a problem,” Geoff explains. “But we need to continue, every single month, to earn their business and earn their trust.”
Even though it might look better revenue-wise to lock users into yearly contracts, that’s not what’s important to us.
“Earning trust, earning business every single day is how great companies are built,” Geoff says. “So that’s kind of the philosophy on why we don’t have annual contracts.”
Even more important, our team wants to make sure that Hectic is more than worth the low price we’ve set. To do so, we operate on the “10x value” philosophy. Basically, we believe that for every dollar someone gives us, we need to provide $10 worth of value back to them.
“Whether that’s time-saving, whether that’s efficiencies, whether that’s just the ability to sleep better at night because you know you’ve got the chaos organized,” Geoff says. “That’s kind of the baseline for the value we provide. There’s no scientific way to measure that, but when you buy a service, if you get 10x value, you never question whether it’s worth it.”
We consider this our gold standard, making the value you get for your dollar more important than anything.
“That was important because that’s where my heart’s at, I know that’s where your heart’s at,” I add. “I know it’s where every single person that works at Hectic’s heart is at. Earning your trust and making sure that we have significant value, not just a little bit of value but significant value, with our interactions.”
And it’s not just something that reflects our brand, it’s a mindset we see at work in the independent creators we serve and work with every day.
“And I think that philosophy translates really well into freelancing. If you provide value, and value above and beyond the individual product you’re providing, your customers are never going to leave you,” Geoff says. “They’re going to continue to rely on you as a freelancer to do more and more work, to be more and more critical to their business and value’s kind of the universal measurement for if you’re going to get that recurring business. And so we do it here and freelancers live that as well.”
As we wrapped our conversation, we also talked about some of the upcoming product updates that we can’t wait to share. Some of the things you can look forward to include:
“Tons of plates are spinning right now, everything’s super exciting,” Geoff says. “I think after we start rolling some of these things out, that 10x number’s going to go up to 15x, 16x value pretty quickly. So exciting stuff.”
If you want to hear more about what we have planned for Hectic, including a sneak peek at what’s coming next for the Hectic Podcast, be sure to catch the full episode here.
And, if you’ve been listening or reading since episode one, if you are using Hectic, or you’re just poking around, I wanted to give a big thank you to every single person here. We appreciate you and we love you. You bring so much joy and satisfaction to our lives. We’re honored and thrilled to be on this journey with you. Thank you.