We just hit $59k/mo in profit

Hey everyone!

Happy Tuesday! 🚀 Let's jump right into this week's update.

I've included a full video for those who want to dive deeper, available here: Video Update

Updates:

• Last month, we doubled profit at NoBoringDesign from $19k/mo to $59k/mo.
• I anticipate our net margin might decrease to mid-30% due to some key investments in our team, however this will only be a temporary dip and the investments will unblock our push to $75k/mo in profit.
• Excitingly, we achieved a net revenue retention of 100% thanks to account expansions, which perfectly counteracted a bit of churn from last month.
• A peek into our giving back initiative: We're donating 5% of April's profit (and every month thereafter), currently totaling $2,950, to various charities.

Challenges:

• With the recent shifts and expansions, there's a realistic chance our EBITDA might drop, settling in the high 30s or low 40s by the end of May.
• Balancing the new investments with maintaining profitability is a challenge I'm closely monitoring.

Life as CEO:

• This past week, I achieved four out of five personal goals, though I fell short of my mountain biking target, clocking in only 2 hours instead of 10 — a reminder of how hectic things can get!
• This week's theme is "Ship It". I'll be on a family vacation for most of the week, but that won't stop us from rolling out a significant customer launch. This client is well-known, and we've just revamped their branding and website — super excited to see the impact it makes!

Goals and Feelings:

• Feeling determined to keep pushing towards our target of hitting a $1 million profit run rate by year's end.
• Also, I'm focused on ensuring that our sales bookings meet our ambitious goals, which is a bit of a stretch right now.

Looking forward to hearing your thoughts and answering any questions about our journey and strategic decisions. Drop your questions below or on the video update, and let's keep the conversation going!

Cheers,
Eli