Volodymyr Zastavnyy the founder of MySignature embarked on his entrepreneurial journey in 2015, taking a daring leap from the comfort of his job to dive headfirst into the unpredictable waters of the startup world. Armed with determination and a bold idea, he founded Newoldstamp, a company that would eventually pave the way for the creation of MySignature.
The genesis of this venture traced back to Vol’s days at a TV manufacturing company. Faced with the tedious task of manually recreating email signatures on each computer, an idea took root. The absence of a centralized solution sparked the notion of an email signature generator. Despite skeptics doubting the viability of such an endeavor, Vol pressed on, fueled by the belief that he could turn this seemingly crazy idea into a thriving business.
With minimal SaaS experience, Vol embarked on extensive research, identifying a niche with few competitors offering paid features. The core of the email signature generator would be a design with a creative touch, breaking free from the limitations of traditional methods like using Word and tables. A friend joined the cause, developing the initial version, but a freelance designer was enlisted to bring the design to life for $300.
The journey, however, wasn’t all smooth sailing. The team encountered challenges, including the complexities of maintaining a Chrome extension, prompting a shift to a simpler copy-and-paste installation method. This version launched as an MVP, and offered free service to early users, laying the foundation for the future.
In the early stages, financial constraints limited Vol’s ability to run paid ads. Instead, he embraced SEO as a key channel, hiring an SEO freelancer and a part-time marketer for unpaid internship roles. The free version gained traction, and as traffic increased, live chat was introduced to gather real-time feedback. The turning point came when users started asking where they could pay, signaling the need to transition to a paid version.
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The journey to monetization continued, with the paid version officially launched on New Year’s Day in 2016. Revenue gradually climbed, reaching $5K per month by the end of 2016. The startup gained organic mentions in reputable publications, instilling confidence in Vol’s vision and SEO strategy.
The story took an unexpected turn in 2019 when participating in a 500 Startups acceleration program, Vol decided to acquire a rising competitor. The strategic move allowed them to differentiate their audience and accelerate growth. Negotiations ensued, highlighting a crucial lesson—there are no strict rules for negotiating prices; it’s a sales process.
As the journey unfolded, Vol learned valuable lessons. The pivotal role of the initial hires became evident, emphasizing the need to avoid toxic team members. Reflecting on the stress of venturing into entrepreneurship without prior experience, Vol emphasized the importance of seeking advice from fellow entrepreneurs and building a supportive network.
Through it all, MySignature emerged as a profitable venture, contributing significantly to Solva’s revenue. Key metrics like monthly traffic, user count, LTV, and churn rate underscored its success. Looking ahead, the strategic decision to transform MySignature into more than just an email signature generator points toward a future of innovation and growth.
Vol’s advice to aspiring entrepreneurs is to trust their instincts, start today, and prioritize SEO for sustainable growth. The story of MySignature is not just a business narrative; it’s a testament to the resilience, adaptability, and unwavering belief that propels entrepreneurs forward in the face of challenges.
