Topic: Business

From losing money to a 51% profit margin in 5 months

A few months ago I wrote about the difficulty of self-funding a rapidly growing startup. If you haven’t read that yet, go and do that now. I’ll wait. Here’s the quick timeline: JAN 2013 — Started on the idea for ConvertKit JUN 2013 — Reached $2,000 a month in recurring revenue (MRR). SEP 2014 — Revenue declines to $1,330 […]

It doesn’t get easier

Earlier this week LeadPages released their ConvertKit integration. For over 2 years that has been our most requested integration—even losing us accounts that didn’t want to use the workaround copy/paste integration. But that objection is gone now. And we have almost all of the major integrations our customers request. Our sales process just became easier. […]

Solving the cash problems from self-funding rapid growth

“If you grow too fast it can kill the business.” After spending years fighting for even a tiny bit of growth, ConvertKit was now facing a totally different kind of problem: more growth than we could support. In October, November, and December we were averaging growing 40% per month. Recurring revenue went from $25,000 in […]

Knowing when to quit

That company or project you started isn’t working out. You were excited, early customers were excited, but once you launched nothing really happened. Even worse, it’s not a total failure. You made some money. Not enough to grow, but at least a few people paid for it. When do you pull the plug and move […]

2015 in review — 1 year after I quit blogging

Wow. What a year. At the end of last year I made the largest business decision I’ve ever made: stop working on my very profitable training business (to the tune of $20,000 to $50,000 per month!) and instead put all my time, effort, and money into my failing software company. I also almost entirely stopped […]

Growing ConvertKit to $30,000 in Monthly Recurring Revenue

A year ago I made the decision to focus full-time on ConvertKit—which at the time was a failing product with only $1,337/month in revenue. In order to turn it around I… Focused full-time on just ConvertKit—ignoring my other businesses and products. Invested $50,000. Hired my dream team. And worked like crazy. You can read that […]

Unsolicited Advice

The rock skipped five times across the water before sinking into a small wave. Not bad, considering the water was rough. As Barrett searched for another rock to beat his new record, we discussed a new idea: what if we gave people all our advice and opinions they never asked for? I was with four of […]