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Open Startup Report - March '22

Matthew Reid
Matthew Reid
Hey all, March has seen churn start to bite. We’re still growing overall which is positive. We have some exciting potential revenue growth options coming up. This month we also started experimenting with Google Ads (see cash flow)
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
+1.45% (last 30 days)
Churn Rate
28.1% (Feb)
Burn Rate
Cash: £164.97
Monthly Expenses: £94.09 (incl £23 ad spend)
Burn Rate: 1.7 months
How can you help
We’re at a turning point where we need to decide which customer segment to focus on. We need help deciding that, which partnerships to pursue (we have many offers) and which features to focus on. I’m continually worried about our platform dependence and there’s a potential way out of that but I’m also not sure if the danger is real.
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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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