CrewPay Whatupdate No. 40
Hello, crew.
Team Accomplishments & News
- Light week
Product Accomplishments & News
- Product update from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Continued outreach
- Darrien making progress on the QBO and 1099 landing pages
- New tutoring company signed up
Revenue & New Client
- 7 transactions last week (101 YTD)
- $920 sent last week ( $180,853 YTD)
- 1 new company, 2 new contractors
- 6 active companies (13 total)
- 47 active contractors (103 total)
- Totals:
- MRR: $214
- ARR: $2,568
- MRPC: $35.67
Closing Thoughts
Last week, Marty and I were able to spend time with Troy talking about continual improvement and growth for CrewPay. Troy even arranged a lunch with an investment banker friend of his who has a lot of experience in Fintech.
One of the encouraging takeaways from our conversations was revisiting a “contractor-first” approach to acquisition. You may remember, this was discussed a little back in Whatupdate 27.
Since most of CrewPay’s competitors are concentrated on signing up the businesses and bookkeepers/CPAs, what if we focused on acquiring as many contractors as possible?
How do we make it super easy for businesses to sign up and use CrewPay — a freemium model for acquisition?
How do we modify the pricing or business model so when businesses sign up, they invite all their contractors to CrewPay like adding friends to Venmo?
How do we make it compelling for contractors to invite the businesses they work for, to use CrewPay? (Hey, Joel. Just CrewPay me!)
Is knowing more about the contractors using CrewPay more valuable than revenue?
How can we create the most value for the businesses that use CrewPay and the contractors? Are there revenue opportunities for both sides in addition to “next-day ACH”?
Let’s think about these questions this week.
Ever,
David