No one is more over-advised than founders. So rather than tell you how to run your company, let me show you a fantastic early stage startup in action: Fathom.video.
The Problem
For months now, I’ve been struggling with taking notes at my meetings.
I’ve tried tons of different AI notetakers, and I never liked any of them. They captured stuff I didn’t care about, and failed to capture the most important points.
So, I went back to an old school composition book. And as a founder is talking, I’m having to scribble away like it’s 1980.
It really takes me out of the moment. It’s also a lot of work for me.
But yesterday, I found an incredible tool to take this off my hands!
A Thoughtful Solution
It’s called Fathom.video. Fathom is the most incredible AI notetaker I’ve ever seen. (Btw, I’m not an investor.)
These guys have carefully thought through how meeting notes should work.
Fathom records every meeting and generates a full transcript. It also gives by far the best summaries I’ve seen. It really extracts what’s important, as opposed to random bits of data.
With all that info, you never have to worry about missing something important.
Customer Obsession
Fathom is obsessed with customers.
Just minutes after my first meeting w/ Fathom, I got an e-mail from a very nice lady in Customer Success. She asked how my first meeting went and what they could do better.
How often does that happen with any product you use?
I gave them two thumbs up, plus some enhancement ideas. They can use all that customer input to make this tool better and better over time.
You know what really makes this story crazy? I’m a free user!
If a free user gets that level of attention, I can only imagine how pampered the paid users are!
A Clever Distribution Strategy
So why would Fathom give this incredible tool away? Because they’re smart, that’s why.
The individual plans are free. The team plans cost money, but they’re quite reasonable: $20-30/mo.
This is what’s called bottoms-up SaaS. David Sacks invented it at Yammer, which was later acquired by Microsoft.
Here’s how bottoms up SaaS works…
Individuals start using a product like Fathom because it’s awesome. Eventually, it grows virally within the organization.
If Jim is using it and Mary sees how much easier it makes Jim’s life, she’s going to use it too. Pretty soon dozens of people are using the product.
The corporate IT department gets wind of this and realizes they need an enterprise version. So, they pay for a team plan, and they get multiplayer mode and a bunch of other features.
Boom, sale made!
Wrap-Up
Fathom.video shows us how a great startup operates.
They identified a real problem. Then, they came up with a superb solution to that problem.
They love their customers and do everything they possibly can to help them.
And because their tool is free, adoption is easy. Eventually, those free users drive revenue.
Be like Fathom!
Drill down on a problem and solve it better than anyone else. Talk to your customers constantly, and use that info to get better.
If you can do that, you just might make it big!
What do you think of Fathom’s approach? Leave a comment and let us know!
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