I'm shutting down my 7-figure training business to focus on Nuro.video, my $100k ARR SaaS

This update is a bit late in the month, because I held off on publishing it.
I felt that it was more respectful to customers and clients to personally make the big announcement (that we’re shutting down our training/coaching business) to them, before publishing this online.

So here’s – finally – the story of August, which has been quite crazy:

While most of the world was on summer holidays, we were hard at work on Nuro.video.
We knew we’d have to face some churn from all the new July users (see: last month's crazy update where we added AI and tripled signups), so we had to work on balancing that with new sales, plus providing extra love and care to everyone who joined during the July surge.

🔥 TL;DR

• Revenue is UP 22%, and we ended August just 2 users short of the $100,000 ARR (annual recurring revenue) mark!
• We now have a financial forecast!… And it says we have 5 months to prove ourselves a viable company 🙂
• Big news: We are shutting down the training business (the Free Entrepreneur Movement).
• And… Big time success —  I presented the proof of concept of a crazy new AI feature at Hotmart’s Fire Festival in Brazil, and immediately received multiple offers to partner on distribution of Nuro.video in Brazil, Europe, Latin America and Japan!

⭐️ Elevator Pitch (how to talk about us)

For experts, coaches and online course creators, Nuro.video is the AI video editor that takes your raw video content, and provides you with a high-value, fully edited video – in any language that your audience speaks.

_This has changed a little since last month – because of our recent AI breakthrough_​ (see the full letter here).

❓How you can help

I am looking to « dig the well before we’re thirsty » to get in touch with the international markets we want to launch in.

So I’d like to speak at events (physical and online) in the following markets: USA ; Colombia ; Mexico ; Brazil.

The ideal event :

• Has an audience of information marketers, coaches, online course creators
• Has 400+ people in the room
• Takes place in early 2023

We should be launching internationally in early 2023, so I would appreciate any introductions, since events take time to plan.

Please let me know if there are people we should be talking to that you can connect me with (or if you’re running an event where I can speak!).

The full update (with cartoons!)

I was going to put the full update in a post like last time, but there are several images / screenshots / videos (and two cartoons) in it, and the editor won't let me.

So you can have a look here if you'd like. I put down in writing:

• 🏆 Our key growth metrics
  • How we beat Churn! 🥵
  • Because we did this… We’re still winning! +22% ARR🤘
  • Are we really on track to $1M revenue, $300k MRR a year from now?
  • Bottom line: we’ve got 5 months to earn our stripes (and survive) 👀
• 💪 Learnings since last update:
  • #1. How the app evolved
  • #2. Speaking at Hotmart FIRE Festival (7,000 attendees!)
  • #3. Our affiliate program is ON!
• 🙌 The end of an era… we’re shutting down the training business
  • Does it seem crazy to shut down a 7-figure-per-year information business in order to focus on a $98,000 ARR software business?
• 📅 Review: Last Month Commitments
• 📅 Priorities for September

Am I crazy to shut down a 7-figure-per-year information business in order to focus on a $98,000 ARR software business?

*The investor update letter above includes our financial forecast

So have a look, and let me know what you think :-)