Hi I’m John Doherty and I’m the founder of Credo (GetCredo.com). In the last 5.5 years we’ve gone from “a WordPress site with a Gravity Form” (how a mentor describes where I was when we met) to a more sophisticated WordPress site with Gravity Forms (don’t fix what ain’t broken) that has helped over 5,000 businesses looking for a marketing firm, made agencies over $20,000,000, and every month books $3M-$5M of sales pipeline on agency calendars.
In mid 2019 we launched a marketplace complete with vendor payments and the end-to-end of getting great digital marketing work done. The metrics were incredible (agencies who previously struggled to close work closed, clients got what they paid for when it was promised), but both sides of the market disliked it and felt constrained. The business was also very operationally intensive which does not fit the type of business my business partner and I want to run. We were paying out over $100k/mo to agencies, but when Covid hit we saw a double digit decrease in our monthly revenue which meant we were once again unprofitable.
So we sat down, talked to customers to see the real value they saw in Credo, and then over the course of 13 days cut our product in half and doubled pricing. By the time we filled up our initial Alpha with customers revenue was already higher than what it had taken a year to get to with the marketplace. We made the full shift in August 2020 and our revenue has grown 80% while stress around the business has gone down by 80%. We broke the $500k ARR mark in February 2021.
A quick bit about me:
Topics I’d love to discuss:
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