Rick Knudtson (Workshop): The email signal he ignored for 9 months

Nine months in. Close to zero customers. He was ready to hand the money back to investors. Rick Knudtson had already sold one company, so Workshop started with the idea he found interesting: an intranet. Customers kept telling him to fix email instead. The rebuild took 30 days and brought in 10 customers. Rick explains why big enterprises cannot run internal comms on a cheap marketing tool, how a year of newsletters and ungated resources filled the pipeline before Workshop had anything to sell, and what changed when the founding team stopped defending its own idea and started listening to customers. Plus: why Workshop dropped per-user fees for audience-based pricing, and how that changed the way customers expand into new departments. Workshop is an internal communications software platform based in Omaha with around 140 employees and just under 1,000 customers, including Capgemini. It is five years old and past $10M ARR. Rick previously co-founded Flywheel, a WordPress hosting platform sold to WP Engine in 2019. This episode is brought to you by: 🤖 Hobbes → Don't book a demo. Take one. 🔑 Key Lessons 👂 The signal was in the sales calls all along: Prospects named email as their biggest internal comms pain for nine months while Workshop kept building an intranet. Listening to customers only started once the ego from a previous exit got out of the way. 🎯 Finding product-market fit was obvious when it finally arrived: Nine months of selling the intranet earned about three customers. Thirty days on the email product brought ten. That gap told the team exactly where to go all in. 🧱 Pick a first problem you can ship fast: An intranet cannot be built iteratively, so feedback loops stall for months. Email analytics was small enough to ship in 30 days and grow into a wider platform. 🔒 Enterprise email is not a MailChimp problem: Security layers, IT governance, and getting a message into 100,000 inboxes in minutes are why large companies cannot run internal comms on an off-the-shelf marketing tool. 📣 Market for a year before you sell anything: Workshop launched a weekly newsletter on day one, now at 50,000 subscribers, alongside ungated resources and monthly webinars that grew from five attendees to five hundred. 💰 Audience-based pricing removes expansion friction: Workshop charges by employee audience size and by channel rather than per seat, so adding another department never triggers a procurement review or a new negotiation. 🧭 Write the mission first and the values later: A broad mission gave the team direction before the product existed. Values waited twelve months so they described what had actually kept the company alive. Chapters How selling Flywheel led to the internal comms idea Writing the mission statement before the product The intranet bet and why it never found a through line Why enterprise email is harder than founders assume Building a newsletter and resource library before selling Nine months, near-zero customers, and the plan to return the money The bar conversation that led to the 30-day email rebuild Ten customers in 30 days and what product-market fit felt like Audience-based pricing and dropping per-seat fees Lightning round Resources Full show notes: https://saasclub.io/493 Join 5,000+ SaaS founders: https://saasclub.io/email