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Open Startup Report - Feb '22

Matthew Reid
Matthew Reid
Hey all,
February has seen slower growth than last month but still trending positive. Many things are tracking well, but there are some challenges we could use your help with (more below). As always, I’ve included charts for our revenue growth, churn and burn rate.

Revenue Growth
+28.05% (last 30 days)
Churn Rate
16% (churn/customers at the start of period)
We lost 1 customer who cancelled their plan because they built out a Stripe integration internally. (See below for more)
Burn Rate
Cash: £99.87
Monthly Expenses: £71.82
Burn Rate: 1.4 months
How You Can Help
  • We are still finding our target customer. SaaS businesses tend to be technical enough not to need our software for long (see Churn).
  • How can we target non-technical business owners (coaches, freelancers etc)
  • Potential to work with a customer to build out a PayPal integration. Is it a distraction?
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Matthew Reid
Matthew Reid @pricewell_io

The two founders were sitting in their office, discussing the company's revenue metrics. One founder said to the other, "I think we should publish our revenue metrics." The other founder replied, "I don't know, people might think we're making too much money."

PriceWell is an Open Startup. Metrics are published monthly.

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