How I Overcame the War to Build a $100M ARR Company | PandaDoc, Mikita Mikado

What inspired Mikita Mikado to start PandaDoc?

Born in Belarus, Mikita Mikado grew up under a totalitarian regime.

His longing for freedom and creativity drove him towards a career in software engineering.

He seized an opportunity to participate in a student exchange program at 19, arriving in the U.S. to work at Honolulu Airport.

Being exposed to a new world, Mikado pursued web design, which evolved into a small business.

This venture was instrumental in funding his education and provided the foundation for his future endeavors.

A significant turning point came at age 15 when he met an IT intern who convinced him that a software engineering career could grant the freedom he desired.

Inspired, he learned coding and began dreaming of building something meaningful.

Encountering a Japanese landlord while in the U.S., who constantly encouraged success through hard work, further fueled his belief in limitless possibilities.

Ultimately, these experiences and mentor influences propelled Mikado towards establishing PandaDoc, shaping his path from a small-town boy with big dreams to a successful entrepreneur.

How did Mikita navigate challenges in Belarus?

Mikita faced numerous challenges growing up in Belarus, a totalitarian state where freedom was limited.

• The oppressive regime motivated him to pursue a career that could offer an escape from the country's restrictions.
• A pivotal moment occurred when a government raid hit his office, with officials taking four people hostage.

This dramatic event highlighted the risks of doing business in a country with such instability.

"I needed the freedom to create something meaningful, free of oppressive constraints I grew up with," he remarked, recalling his motivations.

These experiences significantly influenced his business decisions:

• He decided to align his venture towards sectors less vulnerable to political interference.
• The uncertainties led to a strategic relocation of operations and expansion into global markets.

These challenges taught him resilience and adaptability, shaping his unique approach to entrepreneurship.

What were the key milestones in PandaDoc's growth?

1. First Big Sale: In its early days, PandaDoc sold thousands of copies of an initial $9.99 add-on product, providing passive income and a taste of success.

2. Microsoft as a Client (2010): Securing Microsoft as a client marked a significant milestone, even though it operated from a modest 15-person setup in Belarus.

3. Transition to SaaS (2013): Shifting focus to software as a service, they fought for independence and reliability by providing standalone tools.

4. Securing Funding (2011): PandaDoc raised $650,000 from eight investors, with a valuation cap of $3.5 million, providing vital capital for scaling globally.

5. Global Team Formation: Despite challenges, they built a global team, managing talent remotely due to financial and logistical constraints.

6. Becoming a Unicorn: Reaching $100M ARR and attaining unicorn status marked significant milestones, adding brand value and affirming their market position.

7. Resilience During Crisis: Navigated two geopolitical crises — in Belarus and Ukraine — successfully relocating and safeguarding their expanding team.

Achieving these milestones exhibits the significance of startup growth strategies amidst adversity, underscoring resilience and foresight in Mikita Mikado's strategy.

How did Mikita manage a global team during crises?

Navigating political turmoil and war presented unique challenges for Mikita's team.

During the Belarusian uprising, they faced severe retaliation, including office raids and hostage situations.

To address this, Mikita employed lobbyists in the U.S. to aid in his team's safe relocation.

"It was a tough year and a half, but we managed to migrate over 300 people to safer locations," Mikita shared.

They shifted operations to Ukraine, only for conflict to arise again.

Showing adaptability, they expanded into Poland and Portugal, ensuring team safety and operational continuity.

This proactive approach underscored the importance of resilience, highlighting the necessity for strategic placements of staff to evade geopolitical threats.

For further insights on maintaining team resilience amidst challenges, consider Alex Blania's lessons from top CEO coaches.

Mikita's journey demonstrates the power of strategic foresight in overcoming adversity and laying the foundation for a global startup growth.

What lessons can be learned from Mikita's journey?

• Resilience: Despite facing significant personal and professional challenges, he demonstrated remarkable resilience. From political turmoil in Belarus to the Ukrainian crisis, navigating these complex situations underscored the importance of persistence in the face of adversity.

• Adaptability: Mikita showcased the ability to adjust quickly to unforeseen events. Whether it was adapting business strategies or relocating teams during crises, his flexibility was crucial for maintaining operations and ensuring startup growth success.

• Global Perspective: Understanding the limitations of a local market, he focused on building a business with a global presence. This not only expanded PandaDoc's reach but also shielded it from local instabilities, emphasizing the necessity of a worldwide approach for entrepreneurial success.

• Leadership through crises: His journey highlights the importance of leading with empathy and strategic foresight, especially when safeguarding team well-being during geopolitical crises. This approach was pivotal in navigating the complex international landscape and ensuring team safety.

For more insights on effectively dealing with business challenges, find out how Alex Blania learned from top CEO coaches.