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- Where are we. Date: Jan 31st, 2024 - Monthly revenue at **95K**. Split 91K + 4K between RenovateAI App and VoxAI App. With **35K in ad spent**. Split 31K + 4K respectively. - Launched Renovate AI Web. But it's struggling to get a paying start. Kind of, sort of like Vox. Conversion is low and not past the profitability chasm. - Paying **conversion at 7.6%** (10.5% in US) for Renovate. At **2.9%** (3.1% in US) for Vox. **0.7%** for Renovate Web. Vox has improved (1.3 -> 2.4 -> 2.9) in last 3 months. - 30 days realized **LTV** per paying customer at **$23** for Renovate and **$21** for Vox. - 1K in bank. 85K payment Feb 1st, another 85K the month after. **$170K** cash reserved. - P/Lightology is close to a contract deal. Expecting **$50K payment** in Q1 2023. This will unlock the first B2B revenue stream that I can build and compound on by hiring and strategizing business developer. Creating a system to replicate and reuse the work. - @matt alioto in training - So that covers the business. What about Sid? #P/Mission Succeed - My green card adjustment of status has been submitted. I expect the employment authorization to arrive in 8 week best case, 6 month worse. #P/AoS and Green Card - JOKR job terminates end of #2024/feb. I will file and self sponsor my #H1B via TrialAndError.AI. Lawyer fee and work starts tomorrow as make the invoice payment. Hoping the filing to wrap before end of month. I will be delighted and feel really proud to have achieved this feat. The dream of starting my own company and hiring myself into it on H1B visa has been a scenario that I have researched and thought about for over 10 years. - TODO I would need to drive salary starting March. 15K for me. 7K for @Ercan Ozer. I wonder how we could reduce the taxable income by providing benefits at company's expense. More research on it later. Regardless, I would have to payment myself min wage as per H1B job criteria. Don't see this being less than 120K. - So what's the strategy? - What is working well? And Goals. - Organic traffic for apps with FoxData. RenovateAI App gets on avg 700 organic downloads daily. - **22K organic installs** in Jan with 4K spent on boost. Compared to 17K paid downloads that costed 31K. That's 22K * 7.6% * 23 = $38K in organic monthly revenue. Vox would have made 22K * 2.9 * 21 = $13K. - **Goal 1:** I must boost Vox to **17K (550 per day)** total downloads to get close to 10K in new revenue. - **Goal 2:** Similarly we need SEO on web. P/SEO Automation in progress. Assume 1% paid conversion we need to **45K (1500 per day)** to land on renovateai.app to get 10K new revenue - B2B collapsed:: true - P/Lightology project has been ground up learning for me in ways to communicate, pitch, sell and curate a relationship with business. We will sell them a contract and take on software work. The process from lead to close is slow i.e 1 -3 months. But I have enjoyed the process and the closure gets us a sum close to 50K. If we have scale this process to run in parallel, it could turn into a revenue stream bigger and stronger than the apps. - I feel a jolt of joy and celebration at the end of each sales call where we would sense the buy in. It's a real team bonding exercise with rest of folks. - This happened today. Cold email pitching business development. There is leg. Maybe there is marketplace here that I could leverage. -  - I see 2 avenues which can both be pursued together 1) Push on sales and business development with Matt and few others hunters as I could hire. Run it on commission. See if flywheel kicks off. 2) strategic partnership with firms who can bring in clients! This might be less 'management' for me in place of maybe higher commission. - **Goal 1:** We needs developers. Both to aid Ercan on web and mobile and to help scale the B2B business. We could use 2 interns at cheap. Maybe spend 8 - 10K / month? Or we hire in Turkey or India. TL;DR Get interns for cheap. - **Goal 2:** Hire Matt. Setup up P/T&E Consulting Arm for small business. Create the #system. - What is not working well? - Handle on product and conversion metrics. We don't why Vox doesn't convert. We don't know why Renovate Web doesn't convert. - Not absorbing App feedback. No reading, learning from customers. We haven't made objective and metric proven improvement to apps. - We don't know our customers. No 'relationship' data. - We dont' send notification or emails. We are not upselling. We are not trying to nudge lost customers to try app again. We don't have metrics to grok what we are loosing on. With yearly renewal on horizon we have over $200K in revenue to capture from renewal. - **Goal 1:** Get a handle on retention. Failed renewal. Pre-act to increase the chances. Post-act with discounts and measure 'resurrect' metric. - **Goal 2:** Figure our email strategy - 2024 Q1 Strategy - Revenue - Renovate App - 300K - Renovate Web: 20K - Consulting: 50K + 3 leads - Vox: 20K - Hiring - @matt alioto buisness dev - @sid as CEO :) #P/Mission Succeed - 2 SE Interns from Northeastern Univ or LCOL -