Evan Teshima: Bootstrapping ForeUP to a Massive SaaS Exit and the $400k Chess Game Podcast By cover art

Evan Teshima: Bootstrapping ForeUP to a Massive SaaS Exit and the $400k Chess Game

Evan Teshima: Bootstrapping ForeUP to a Massive SaaS Exit and the $400k Chess Game

Listen for free

View show details

About this listen

 In this episode of the Startup Ignition Podcast, we sit down with Evan Teshima, founder and former CEO of ForeUP, a massive bootstrapped success story in the golf tech SaaS space. Evan shares his incredible journey from meeting John in a BYU classroom, enduring 5-7 rapid pivots during an accelerator program, navigating a near-death convertible note crisis resolved by a $400,000 chess game and desperate calls to family, scaling to over 2,300 golf courses with only $200k in outside capital, and ultimately achieving a huge acquisition with tax-free gains. Hear war stories, lessons on founder-led sales, customer-funded growth, and the true reward of the entrepreneurial grind (including retirement on a beach in Hawaii!).

(00:00:44) Met John in school, he was my teacher
(00:13:59) My first idea was a toilet seat controlled by a lever
(00:16:25) I literally stood up... mark my words, this is gonna be the best company
(00:19:39) Literally you pivoted somewhere between five and seven major times in about three months
(00:24:43) My stinking point of sale is a POS... This thing sucks
(00:25:22) Literally the software looked like Oregon Trail
(00:28:46) Judy Flint... she was our first customer
(00:31:31) Now we'll buy it
(00:37:08) They raised $200,000 and no more equity investment after that? Yes, period.
(00:38:13) The hotels that we went to were the most janky hotels
(00:42:56) If there's anything that we did right it was founder led sales
(00:47:00) This note's coming due... valuation will drop from 1.5 to 500,000
(00:50:19) Per that paragraph, I'm notifying you of my intent to convert right now
(00:53:14) Got some pretty nasty phone calls when they received those checks
(00:55:03) I had to do the hardest thing of my life. I called my mom
(00:58:29) Do you know what I thought? I go this guy's really good at golf...There's no way he's good at chess. So what happened?
(00:59:55) Close to 400 grand
(01:02:45) Was that an inflection point? Was that a tipping point for ForeUP, like getting Brendan in the CTO role? It was.
(01:07:48) You built it to 10 million dollars in revenue basically off of... for a huge exit
(01:08:03) The first 10 million for each of us tax was tax free
(01:15:39) I'm on the beach with an umbrella drink in my hand right now
(01:23:43) There was a company out there... raised $40 million... Had to fire. Sell.
(01:24:13) Enjoy the journey

Join our online academy for free:
https://startupignition.com/academy

Apply to be a guest on the pod:
https://startup-ignition-podcast.paperform.co/

Follow John & Tyler:
https://x.com/trich_
https://www.linkedin.com/in/johnrichards/

Subscribe on YouTube:
https://www.youtube.com/@StartupIgnition

Follow on X:
https://x.com/startupignition

Follow on Instagram:
https://www.instagram.com/startupignition/

Follow on TikTok:
https://www.tiktok.com/@startupignition

Follow on LinkedIn:
https://www.linkedin.com/school/6458758/admin/dashboard/

Follow on Facebook:
https://www.facebook.com/startupignition/

#StartupIgnition #Entrepreneurship #Bootstrapped #SaaS #GolfTech #StartupLife #FounderStory #BusinessGrowth #Acquisition #VentureCapital #AngelInvesting #WarStories #ProductMarketFit #Pivot #ConvertibleNote #FounderLedSales #CustomerFunded #BYU #TechStartup #ExitStrategy
adbl_web_global_use_to_activate_T1_webcro805_stickypopup
No reviews yet