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28 sats \ 2 replies \ @fauxfoe 24 Jun \ on: 🤝 SN Sellers & Business Club AGORA
In previous threads, I mentioned putting in a bid on a project. Just found out we won the bid. This will be enough revenue to get us through 2026, let us invest in a new product, and avoid an early raise. I can even afford to pay myself. If all goes well, I'll make another sale or two and bootstrap this to a few million in annual revenue within 2 years. Then I'll need to find money for the next stage.
As a new company, we bid low. Margins will be tight. But still. I always say you're not a real business until you have revenue. You're not real until that first dollar hits. I don't care how much your investors think you're worth on paper. It's not a business if it has zero revenue.
Now to get the contract finalized and then the real work begins...
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Thanks! There is so much to do and too little margin to hire enough people to do it, so I'm going to be busy until the end of the year when we get the bulk of the money in the back half of the contract.
This thing is in stages, and we have to prove we can execute with a small piece and then ramp up next year. It's good in that it gives me time to grow. It's bad in that I will be paying a ton of fixed start-up costs from a small bit of revenue.
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