Mar 9, 2023
Is Passion Enough To Land Your First Investor with Ran Aroussi of Tradologics
In this episode of SaaS Origin Stories, Phil is joined by Ran Aroussi, Founder of Tradologics, a cloud based platform which helps traders, investors, and firms across the world develop, test, run, and scale their programmatic trading strategies. Previously, he was a special project manager at Panda Trading Systems, and Founder of Tuki Media and Tuki Apps.
They dive headfirst into the luck involved with funding your SaaS platform; just how long it takes to finish your product; the process of finding users; and why they call their customers ‘Prosumers’. They also touch on how the Ukrainian conflict has affected their job, as well as making sure you’ll have the right tools for the job.
Guest at a Glance:
Name: Ran Aroussi
About Ran: Ran Aroussi is the Founder of Tradologics, a cloud based platform which helps traders, investors, and firms across the world develop, test, run, and scale their programmatic trading strategies. Previously, he was a special project manager at Panda Trading Systems, and Founder of Tuki Media and Tuki Apps.
When asked about Ran, one of his colleagues said, ‘If talent and creativity is what you are looking for then Ran is THE man for it. Always with a smile, Ran is a true professional in his field!’
Ran on LinkedIn
Ran on Twitter
Tradologics on LinkedIn
Topics we cover:
* How Tradology removes the problematic barriers in trading
* Why they call their clientele the ‘prosumers’
* Ran’s journey to where he is now
* The peaks and troughs of funding your SaaS platform
* How the Ukrainian conflict has affected their business
* The length of time it took to get the first version of Tradology finished
* The process in finding your users
* Will your work ever be truly over?
* Make sure you have the right tools for the job
How Tradology Removes the Problematic Barriers in Trading
Ran says that Tradology is solving a ‘myriad’ of problems in trading, removing most of the frivolous, technical barriers that stand in the way of people who are trying to generate a solid trading strategy in stock or crypto.
But who is the target audience for this? Well, Ran explains that they made the choice to refer to their customers as ‘prosumers’, an in-between market of the smaller professional traders (fund managers and investment advisors) and some of the most prestigious retail traders (people who trade for a living with their own money).
With such an innovative platform, Tradologics is bound to expand their audience and reach more traders across the globe.
Funding Your SaaS Platform
Funding anything, whether it be your SaaS platform, a business startup, or even something like an independent movie - it can take time, effort, and a lot (really, a lot) of convincing. But don’t let that put you off! If your idea and platform is innovative and brilliant, if you are passionate enough about it, then you will find someone who will invest.
Ran explains that, before Tradologics, he had no experience in trying to raise money for a project. It was only through some stroke of pure luck that he managed to grab the attention of and hit it off with the first investor he contacted. He acknowledges, though, that this really isn’t the norm, and that it was a very good start. It wasn’t until the second round of seeking investors when reality hit and it began to take much more time.
“In the beginning, they invest in the idea. Later they invest in the team or the product - whatever it is. And then, as you progress, it starts to get more difficult [...] It either becomes a massive success, or a bust.”
The Unfathomable Impact of the Russo-Ukrainian War on Business
Ran has a fair few colleagues in Ukraine, and the war has, just as it has for a lot of people, affected the way business is done. Fifty percent of the time, daily meetings are constantly shifted to different times, and all too often they have no electricity or an internet connection. He recalls a time when during one meeting, a colleague was surrounded by candlelight with poor internet quality.
It’s safe to say that we all have the utmost admiration for those continuing to work and making a living through the Ukrainian conflict, and we wish them well.
“They’re amazing, they truly are. It’s been a tricky road,” says Ran, wholeheartedly.
The Length of Time it Takes to Get a Product Done
The first version of Tradologics came into fruition after about six months, but Ran claims that the finished product took them around a year and a half. But remember, just because something is functional and working, it doesn’t mean that it’s the final ever version. No matter what you create in SaaS, no matter how talented a programmer you are, there will always be something to change and tweak further down the line.
You will, most likely, never be finished, and given all the possible delays and interruptions that will occlude your process, there is no telling how long it will truly take. Therefore, it’s important to have dedication, perseverance, and passion for what you’re doing, otherwise you will fall victim to giving up.
The Process of Finding Your Users
Ran admits that he was very fortunate when finding his ‘prosumers’. It was thanks to his blog (which he also admits he hasn’t updated in a while) that people saw what his idea was and signed up to a waiting list. He asked people to fill out surveys and answer questions so that they could make Tradalogics the best it could be.
Now, they have about 20,000 people on the waiting-list, an impressive number for a business with no advertising!