Today my dream was realized.
HireClub hit $20,000 in revenue for the first time for May 2019.
With our current profit margin that means HireClub is now fully paying the bills for my own salary.
We are as in YC speak, default alive.
This is absolutely incredible growth. 28% growth over April 2019. Just bonkers.
May broke all our records
Most revenue in a month
Most new subscribers in a month
Lowest churn ever
Most coaches added in a month
LTV increased to over $1200.
Most 5 star reviews in a month.
Lowest refunds in a month.
Why does this all matter?
Back in November 2018 when we hit $10k in revenue, I set a goal of getting to $20k.
I thought it would take 6 months.
It took exactly 6 months.
This is unicorn level growth but community powered.
This is our team firing on all cylinders.
This is product being iterated on constantly.
This is our coaches creating massive success for our clients.
This our community sharing their struggles and wins.
This is the culmination of years of believing that great unit economics matter.
That it’s not just about funding for growth and spending on ads. (We still don’t do ads)
I want HireClub to last a very long time.
Since you, our community invested, I want to be transparent in how we get there.
Over 300 of you own a part of HireClub.
And now that ownership is prospering.
There is such a bright future for us. I am incredibly proud of what @lisa maria, @mike Manoske and the rest of our team has done.
But we have much further to go.
Since Lisa is now a co-founder her salary requirements have changed.
HireClub can’t just be sustainable for me, it has to be sustainable for the team.
Our next goal? $40k in revenue a month.
Even with a 5% growth rate, worst case scenario, we hit $40k in revenue Q2 2020.
Best case? We continue to grow rapidly and hit $40k in monthly revenue in fall 2019.
It’s going to happen. HireClub will make it.