How to make proposals that make impressions
In this episode of the Tekpon SaaS Podcast, hosted by Cristian Dina, Mikita Mikado, the founder and CEO of PandaDoc, shares insights into the development of PandaDoc, its core functionalities, and his entrepreneurial journey. The episode delves deeply into the problems PandaDoc aims to solve, the challenges faced, and the lessons learned through the company’s evolution.
Mikita Mikado explains that PandaDoc is a software application designed to streamline and automate the workflow associated with transactional documents such as contracts, quotes, proposals, and forms. The software aids nearly 60,000 businesses, enhancing their efficiency and ensuring compliance with legal requirements. The primary problems PandaDoc addresses are the inefficiency of manual processes and the need for compliance in document management.
When discussing market competition, Mikita acknowledges its intensity compared to 14 years ago. PandaDoc distinguishes itself through its all-in-one approach, catering to various business needs, from sales contracts to HR forms. Unlike many competitors, PandaDoc treats documents as interactive applications rather than static files. This approach allows for significant flexibility, such as embedding payments and forms, making PandaDoc a robust solution for document management.
The story of PandaDoc
Mikita and his co-founder’s journey began with developing a different product, which took three years to pivot into PandaDoc. Initially self-funded, the company raised a seed round in 2014 and eventually secured a Series C round of $60 million. PandaDoc has grown to a team of 700 employees distributed worldwide, with significant concentrations in the US, Portugal, Poland, Ukraine, and the Philippines.
Reflecting on his entrepreneurial journey, Mikita admits to making numerous mistakes but highlights the importance of being open to feedback and other perspectives. He believes that collective brainstorming leads to better decisions and values the input from his colleagues.
Mikita envisions PandaDoc as the leading platform for automating agreements, transactions, and document-driven workflows. Their goal is to make the product as intuitive as possible, thereby helping businesses efficiently manage back-office contracts and front-office proposals.
On a personal note, Mikita shares his background, including his initial experience working various jobs, including flipping burgers at Honolulu International Airport. His career took a turn towards web design, which eventually led him to create and run a software company.
Mikita’s core advice for budding entrepreneurs is to be receptive to feedback. He underscores the significance of external input in navigating the complexities of running a business. This episode of Tekpon SaaS Podcast provides a comprehensive overview of PandaDoc’s journey, offering valuable lessons on entrepreneurship, product development, and the importance of adaptability and feedback in business growth.
