Assertion certainty 4/5 debate potential 1/5

Penji monthly revenue churn is between 10% and 20%

Jonathan Grzbowski · Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work · Nov 4, 2020 · at 23:22

Jonathan Grzbowski is the co-founder of Penji, an unlimited graphic design subscription service.

0:00 / 0:15exact quote · 15.4s
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“So it's somewhere between 10 to 20, excuse me, 10 to 20%, depending upon the month. And I say that because it was skewed because of COVID. But in short, we want to get under 15. Last month in particular, it was somewhere around 12%.”

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More from Jonathan Grzbowski

Assertion Not checkable as stated
Founders fired entire agency staff to instantly rehire them for Penji
“We actually did something very interesting. We fired every single person on Waterfront Media, and then rehired them under Penji.”
Jonathan Grzbowski Nov 4, 2020 ▶ 7:05 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
Assertion Not checkable as stated
Penji maintains 60% to 70% net profit margins on design subscriptions
“Oh, absolutely. We're definitely profitable. You know, I'd say somewhere in the realm of 60 to 70%, depending on the month.”
Jonathan Grzbowski Nov 4, 2020 ▶ 16:39 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
Insight
Grzbowski: Founders are better off bootstrapping than taking early capital without MVP
“If you can go as long as possible and eat as much dirt, if not more dirt than we did I think that you'd be far better off as a business and as a human being than just succumbing to capital right out the gate without an MVP or initial idea.”
Jonathan Grzbowski Nov 4, 2020 ▶ 27:49 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
Prediction Not checkable as stated
Venture-backed competitors cannot defeat Penji with paid ads due to SEO
“I don't think that that would work because at the end of the day our SEO in particular and our just brand recognition is going to speak for itself.”
Jonathan Grzbowski Nov 4, 2020 ▶ 28:49 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
Disclosure
Penji is completely bootstrapped and plans to never seek outside capital
“So we're actually bootstrapped. We've never received an ounce of funding. We've, don't plan on ever looking for funding, et cetera.”
Jonathan Grzbowski Nov 4, 2020 ▶ 4:41 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
Disclosure
Grzbowski took no formal paycheck for six years while building Penji
“There was a time where I didn't receive a paycheck for close to six years of just of saving and just driving it back into the business.”
Jonathan Grzbowski Nov 4, 2020 ▶ 8:51 Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
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