Coming back to you all with my first post-launch update.
Full behind the scenes video update here: https://youtu.be/8aSXoLv3vL0
Updates:
We've surpassed the first half of my initial goal which was to land our first 10 ecstatic customers, representing north of $20k/mo in revenue. Are they ecstatic? To early to tell, but it feels like we're on our way.
My long term goal was to get to a place where we were closing 1 customer per week, 4 per month. After running our first campaign two weeks ago, we've already closed 6 new customers, and based on the current pipeline I'm fairly certain we will close 8 by the end of May, fully doubling that initial goal of 1 per week. That said, this was campaign driven, so likely not the same as consistently closing 1 per week due to a predictable GTM flywheel. More on that in the video below.
Until yesterday we had 0% customer churn since inception. Our first customer canceled their plan, which, on its face feels bad, however he told us up front he just wanted a brand and web refresh, which we delivered a while ago, so if I only look at the facts, he actually stayed longer than he told us he initially would.
Current Challenges:
I'm realizing our business model needs to be split into fixed and retainer clients to account for folks like our first customer, who truly only want a specific end result and don't plan to keep us on retainer. This presents some interesting team/talent forecasting challenges that I've been working hard to model in an objective and predictable way. More on that below.
I'm working on settling into the reality of owning two agencies. With NBD starting to get some legs, it requires a tremendous amount of focus to do both well.
Feelings:
Excited. I'm pretty sure we'll hit $50k/mo in revenue next month with minimal investment in top of funnel.
Curious. I'm curious to see what the unit economics look like once we do begin to experiment into traditional paid channels.
Nervous. Honestly, the split retainer/fixed client base makes me a bit nervous, but if done correctly, one is lead-gen for the other.
That's all for now. More updates coming soon :)