Everything Michael Perry said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Investors avoid small business technology because it is difficult to crack
“I think a common thing, an issue that people who build within the small business sector face is no one wants to invest in technology for SMB because it's such a tough nut to crack.”
Mark Zuckerberg is by far the best CEO in Silicon Valley
“I mean, Zucks is by far right now the best CEO in the Valley in my personal opinion.”
VCs avoid funding SMB tech because it is a tough market
“And I think a common thing, an issue that people who build within the small business sector face is no one wants to invest in technology for SMB because it's such a tough nut to crack.”
Mark Zuckerberg is by far the best CEO in Silicon Valley
“I mean, Zucks is by far right now the best CEO in the Valley in my personal opinion.”
Kit abandoned taking a 10% ad-spend cut because it cheapened the brand
“We just do the flat fee. We had a 10% little bit for a second, but we just learned that that really kind of cheapened our brand and it really wasn't kind of hitting on the morals of what we wanted to be as a business.”
Kit plans a 2016 priced round to fund headcount and burn
“Yeah. I mean we're, you know, we're fortunate enough to be, we're obviously revenue generating and we're, you know, gravitating towards a break even point. But you know, we're not in the business obviously just To reach break even, you know, we want to increas…”
Venture capital should fund pure growth acceleration, not startup experimentation
“Raising venture capital, obviously, as you know, is not for everybody. But you have to be in position to use that capital purely for acceleration. Like for us, it can't be just like experimental cash.”
Kit's SMS product launched in 2015 and became 100% of its business
“And we launched that in January of 2015, the SMS component, which is now basically a hundred percent of our business.”
Kit has approximately 2,000 paying customers
“We have about 2000 paying customers.”
Kit averages 4% monthly customer churn across its marketplace partners
“Well, I think that, you know, right now what we see is that we average pretty consistently a four percent churn within our marketplace partners.”
Kit acquires new customers for approximately $21
“Our cost per acquisition is about 21 dollars.”
Kit allocates its entire customer acquisition budget to Facebook ads
“We're spending all of our money on Facebook.”
Kit surpassed $30,000 in monthly recurring revenue in January 2016
“January, we just cleared over 30 KMR.”
Kit's net monthly cash burn ranges from $30,000 to $40,000
“Well, our net cash per monthly right now on any given month can be anywhere from 30 to 40 K.”
Kit CRM's SMS component now makes up 100% of its business
“And we launched that in January of 2015, the SMS component, which is now basically a hundred percent of our business.”
Kit CRM reached approximately 2,000 paying customers by January 2016
“We have about 2000 paying customers.”
Kit CRM's average revenue per user approaches $19 per month
“We're just kind of approaching 19 dollars.”
Kit CRM consistently averages a 4% monthly customer churn rate
“Well, I think that, you know, right now what we see is that we average pretty consistently a four percent churn within our marketplace partners.”
Kit CRM's customer acquisition cost is approximately $21
“Our cost per acquisition is about 21 dollars.”
Kit CRM spends its entire customer acquisition budget on Facebook ads
“We're spending all of our money on Facebook.”
Kit CRM managed $80K in November ad spend, dropping to $40K
“It was about 80,000 dollars in ad spend. In November. And then we're basically in both December and January. So about 40,000. So it cut in half.”
Kit CRM dropped a 10% ad fee because it cheapened the brand
“We just do the flat fee. We had a 10% little bit for a second, but we just learned that that really kind of cheapened our brand and it really wasn't kind of hitting on the morals of what we wanted to be as a business.”
Missing $150K to $200K MRR by year-end would mean failure
“It's like, can we get to that 150 K MRR, right? Like I think that one 50 to 200 K MRR, if we don't satisfy that, the years of failure, we very much look at I think when you look at great sports teams, right? It's like championship or bust, right? Like second p…”
Kit CRM cleared $30,000 in monthly recurring revenue in January 2016
“January, we just cleared over 30 KMR.”