CrewPay Whatupdate No. 58
Hello, crew.
Team Accomplishments & News
- No updates
Product Accomplishments & News
- Product update from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Basis State outreach - 1 interested party
- Two dropped out
- Matt and I spoke with a company, Naks, that is an on demand Chef service. Exploring a sales opp with them
Revenue & New Client
- 4 transactions last week (475 YTD)
- $14k sent last week ( $720k YTD)
- 1 new company, 2 new contractors
- 9 active companies (24 total)
- 72 active contractors (225 total)
- Totals:
- WoW Contractor growth: +1%
- WoW Company growth: +0%
Closing Thoughts
As many of you know, I write these weekly Whaptupdates for each of the companies I’m actively working in. And I very rarely do I have the same closing thoughts while thinking about each of them.
However, today is one of the days I do.
Last week, I was listening to a podcast with Stripe co-founder, John Collison. Of the many things I pulled from the interview, I wanted to share a simple and profound thing for you to ponder.
When an industry, technology, or product area feels mature and "settled", it doesn't mean that it’s a bad space to build something new. In fact, such inertia or perceived product maturity may be signs of a huge opportunity. In these cases, you should build from the ideal experience backwards, as Stripe has done with its payments API.
Did you catch it?
Build from the ideal experience backwards.
That’s what we need to be doing (and will do!) for contractors/1099 workers.
If we do this right, it will shine a light on how bad the other ways 1099 workers get paid and handle money.
Doing so will make something that’s different — not just better.
The automobile wasn’t just a better carriage. AirBnB wasn’t just a better hotel room.
It’s about the philosophy more than the tech.
Square did this for POS. Expensify did this for expense reports.
CrewPay will do this for 1099 worker payments.
Have a great week.
Ever,
David