How Do You Launch a Multi-Million-Dollar Business From Your Apartment?

When Ross Paquette started his SaaS (Software as a Service) company in 2011, he couldn’t have predicted the heights it would achieve in just 9 years. Maropost is now one of the fastest-growing and most profitable companies in the northern hemisphere, valued at $160 million. So how do you turn a small business based in your apartment into a multi-million-dollar company? According to Ross, his success comes out of a desire to create a great product, rather than a desire to become rich.

Like many entrepreneurs, Ross had experience in the industry he decided to start his start-up in, but he felt things could be done differently. He had experience in selling bid market products, but he saw an opportunity to innovate some of these cutting-edge products by tweaking the way they were used.

Since starting Maropost, Ross’ main focus has been on creating a product that, first and foremost, meets the customer’s needs. He believed that organic customer growth was the way to attract the customers, who want your product, and who will stay loyal to your brand because of the sheer benefits they receive. Maropost began its life as a one-man band based in Ross’ apartment, while he was still working full time selling construction software. Which brings us to another key point of Ross’ success – he never raised capital to fund his start-up.

This meant that he maintained control of the project and that he was on a good financial footing throughout his early years as an entrepreneur which is when many find they struggle and go under. While continuing to work Ross lived within his means, and put some money aside and  invested in his business without borrowing.

The next challenge was how to grow the business and for this Ross has some good advice: surround yourself with good people and reward them well for the work they do. Ross’ business partner in the early days was the brains behind the software. Ross realized early on that they had something special going on and wasn’t about to risk the future of the company by squabbling over a few dollars here and there.

Instead, he made sure that good performance was well-rewarded financially, by offering equity in the company. He says it’s important to understand the company vision is more important than the money it makes, and that by getting the vision and priorities of the organization right, the money will naturally follow into the business. But Ross’ not afraid to admit his mistakes, and accepts that after selling a portion of the company to investors he didn’t receive the support he expected and felt the investors seemed to view Maropost as a cash cow. The solution? In Ross’ words they were “exited…from the business,” and Ross was able to do that because he took a calculated risk. He sold some of the business but kept overall control which meant he could fix things when they went wrong.

One of Ross’s major focuses is on what he calls a ‘lifestyle business.’ He believes in working hard, smart, and in having a healthy work-life balance. Growing up in a small mining town in Ontario, Ross loved playing sports -- and he even skied professionally! He still likes to stay active and sees downtime away from work as important not just for your overall well-being, but for your performance at work as well. He still works 10-hour days, but he makes sure he takes some time out to put his phone down, meditate, and appreciate the many good things in his life. High-level performance requires looking after your staff, appreciating your staff, and employing people who share your vision. All the things that Ross is aware of, and has weaved into the fabric of his business. But how do you keep yourself motivated once you’ve made yourself rich? You continue to create. Great entrepreneurs aren’t just people with an idea that things that could be done differently. They’re people who can see how that could be done. Ross Andrew Paquette describes himself himself as someone ‘creative’, and that creativity is something inside him. And it’s something he uses to keep himself motivated by coming up with new ideas, developing new platforms and continuing to ask how things could be done better.

Nobody knows what the future holds for Ross Paquette and Maropost, but you’d be hard-pressed to find someone who doesn’t see even greater success. As for the question of how you turn your start-up into a multi-million-dollar business, the Maropost example is clear – with good ideas, people, hard work and a clear idea of what’s important in life for you and your staff, to keep the whole team happy, healthy, well-rewarded and stay on-board with your vision.