CrewPay Whatupdate No. 18
Hello, crew.
two by 200 Update
(200 active contractors + releasing 1099 services and QBO integration by 12.31 )
- 59 active / 29% of goal
- 1099: in development
- QBO: planning
Team Accomplishments & News
- Not this week
Product Accomplishments & News
- Pricing plan and promo code URL and registration page
- CSV Upload for mass team members invites
- QBO integration and 1099 progress
Sales, Marketing & Customer Success Accomplishments & News
- Sent off NC Idea Grant Application
- Almost finished with pitch deck
- Website review
Revenue & New Clients
- 19 transactions last week (304 YTD)
- $57,553 sent last week ( $906k YTD)
- 0 new companies, 1 new contractor
- 10 companies, 7 active in the last month
-
77 contractors, 59 active in the last month
-
Totals:
- MRR: $295*
- ARR: $3,540*
- MRPC: $42*
*billing to all starts in October
- MRR: $295*
Closing Thoughts
Wanted to share with you the main thesis of our pitch deck. If you have any feedback, please reach out.
1 - Opportunity cost
When we’ve talked to business owners, the pain they feel if they don’t have a solution is how munch time they spend managing their contractors. This means paying them and paperwork around 1099s.
2 - Compliance
Last year the IRS stiffened its penalties and fines for incorrect and unfiled 1099s. Falling out of compliance could cost a business up to $550 per form. That really adds! And I’m not sure most businesses know the risk they carry for not getting 1099’s right. CrewPay can help here immensely.
CrewPay’s solution saves opportunity costs and mitigates risk of noncompliance for real estate agents, carpenters, childcare workers, engineers, landscapers and more.
Unlike a brand like Workday or Square who raise $$$$ to transform the way people do business, CrewPay solves existing problems for our customers who are already moving. Our job is to go along for the ride.
Ever,
David