CrewPay Whatupdate No. 27
Hello, crew.
two by 200 Update
(200 active contractors + releasing 1099 services and QBO integration by 12.31 )
- 73 active / 36.5% of goal
- QBO: live!
- 1099: in testing
Team Accomplishments & News
- Not this week
Product Accomplishments & News
- Product Update from Matt: https://docs.google.com/presentation/d/1Fwu925olR8d2gR9Vlg02yYtTNDMmsy3d90rOqr1_DbU/edit?usp=sharing
Sales, Marketing & Customer Success Accomplishments & News
- Two good sales meetings with a couple soon to be launching businesses at HPU thanks to Troy (one is a tutoring business, the other a temp agency)
- Started the FB campaigns back up
Revenue & New Clients
- 17 transactions last week (487 YTD)
- $30,602 sent last week ( $1.26M YTD)
- 0 new companies, 2 new contractors
- 10 companies, 8 active in the last month
- 93 contractors, 73 active in the last month
- Totals:
- MRR: $670.88*
- ARR: $8,050.56 * MRPC: $67.88
Closing Thoughts
Most of the competitors I talked to at the conference were focused heavily on the businesses and bookkeepers/CPAs. And being larger or well-funded companies, they’ve invested considerable resources in reaching these folks.
I heard Drew Houston say this in an interview one time:
“If your playbook is the same as your competitor's, you’re in trouble, because they’re just going to play your playbook with a lot more resources.”
So I’ve been thinking a lot about how we can develop a different playbook by exploring a few ideas:
- “old school” tactics like canvasing neighborhoods
- contractor-first instead of business-first
- B2B via financial institutions
I’m hoping one or more of these start gaining traction but none of it works if we don’t create a great experience. Matt continues to do a great job leading us on that front and the app keeps getting better.
Let’s keep progressing.
Ever, David