Jonathan Grzbowski is the co-founder of Penji, discussing market competition with Nathan Latka.
0:00 / 0:06exact quote · 7.0s
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“I would either say that or not like a 99 design for sure. That's probably our biggest our biggest competitor is that.”
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More from Jonathan Grzbowski
AssertionNot 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 GrzbowskiNov 4, 2020▶ 7:05Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
AssertionNot 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 GrzbowskiNov 4, 2020▶ 16:39Penji 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 GrzbowskiNov 4, 2020▶ 27:49Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
PredictionNot 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 GrzbowskiNov 4, 2020▶ 28:49Penji 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 GrzbowskiNov 4, 2020▶ 4:41Penji 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 GrzbowskiNov 4, 2020▶ 8:51Penji Hits $4m Revenue Helping 1000 Customers With Unlimited Design Work
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