My Startup's Midyear Financial Update - Building a Billion $ Company - Episode 5 

this guy is taking #buildinpublic to next level

I cant wait to brag to my friends about being an og supporter of stan

Congrats on 4 million ARR, what a milestone. As always absolutely golden content. Love the way you break down problems logically then try to come up with a solution to tackle each issue. You guys got this, hopefully we can see Stan grow more and more!

The Goat! Congrats on this milestone and your openness and honesty with your company! You have all the skills to grow your company to crazy heights and I know you will put in a crazy amount of work to do so! Proud to be a fan of such a pivotal company so early! Also, Thanks for naming your company after me! It's an honor! 🤣

Great channel. Love the content and the personality and simplicity you bring to the complex startup world. Also noticed it is your channels anniversary! Congrats🎉🎉🎉🎉

I absolutely love your channel, this is my favourite content on youtube at the moment. So inspiring to see you and the team grow. Keep it up

Hey man watching and following since Why I Quit, wish you continued success and growth! I’m building out a business to disrupt the agriculture sphere with the aim to help the entire Caribbean and this is inspiring

Great video @jayhoovy , really happy seeing the numbers, keep it up..........!

This is so cool to see man, hope to continue and watch you become an industry leader real time

Love the transparency 👏🏽 good insights

Keep killing it Jay! All the way from Nigeria! Love the content!

Love how open you are with the numbers and challenges ya'll are facing. Super insightful content. Keep it up!

Awesome video! I'm in a similar situation! The key is to keep new customers signing up more than old customer leaving.The CSM wheel philosophy, seamless Engineering/Integrations, Value prop w/ email marketing are all major wins! Customers referrals is the the gift that keeps on giving. Not sure what the next big step/win is, but remember the pareto principle and the 80/20 rule! Run 5 buckets really well, but one will pay the most dividends! Regardless, keeping great relationships with everyone will only always help in the longrun. The AI could be huge too!

You're a legend for taking us on your journey like this, thank you!

Love this. Congrats J!

Ahh... Liking the Flywheel approach! You guys rock! - A breath of fresh air...

Love your videos! great energy and business info!

User research 📈to inform the direction of the product is key for retaining users, such a great vibe there ! 👏❤️

Another great video. Not sure if this is as applicable here but another lens is to consider not the just the reasons why a user churned after the fact - because people often post rationalise their actions. Instead, if you have the analytics look at the events of all churned users D-7,3,1 before they churned. Often users give “one last shot” before they leave. Those last shots unravel their true intention, which may add color to the reasons they give in a survey. If there’s no data then likely the user wasn’t activated in which case there’s an activation problem. On a slight tangent, one of the most powerful and often counterintuitive ways to combat churn is to consider how to turn the experience from a single to multiplayer game. There is no better retention mechanic than a strong network effect. Would be interesting to brainstorm some wildcard ideas. Also, would be cool to know some comparative churn benchmarks to get a sense of how big the problem is. Sorry got carried away with a brain dump while stuck on a train. Keep up the good work!

appreciate these videos my dude! and congrats on the milestone! working on a startup myself (going through pre/seed now) and want to make content like this for it!

Jay, if you're not already, you should consider turning these vids into tweet threads (I guess X-threads now lol). You'll easily grow your twitter following. There's a massive #buildinpublic community there.

I would have been of the opinion that if growth is exceeding churn then things were good, but I like this perspective that any churn is bad. Then to break it down on smaller parts you can then send a team to work on as their sole focus is pretty cool. btw the intern segment is gold! Especially the box. My personal question to Henry as someone who also would love to be in the creative space (Juggling) is how we would go about marketing the seemingly irrelevant skillset into a positive, which the resume showcase definitely helped answer that a bit.

Congratulations!!!

currently building the framework for my own startup right now, can't wait to watch your journey and maybe even work with you one day👍

Bro keep up what u doing. This is gold content

Love this series! Please keep going with this :))

Please never stop building in public it’s awesome

Great Video!

Great video dude! Love the transparency and the look behind the scenes

Jay is the goat !

congrats bro. this is sick

Love to see the growth John! Have you tried partnering with a large creator? Might make the wheel spin faster!!! Keep up the good work, the vids are on point, can't wait to see where you'll be in the coming years!

GOod job Jay hoovy big steppa!

Henry seems so happy to be there

Really amazing video Jay 🤩. Congrats to the team for launching email marketing 🎉. Welcome to the team Henry 🤝 I’d really love to join Stan as a Fullstack Engineer but unfortunately I’m not based in either LA or Toronto 😢

amazing vids man!!! excited for future updates

So stoked to see your success man, keep going

12% churn rate, that's AWESOME!

Hi Jay, we want to see the tough parts of your week!

56% trial conversion is really good, nice job

Exciting to see you grow so quickly! I feel like I've just seen the video where you've surpassed 2m ARR and now you're already at 4m! 👏 It's interesting to hear you talk about your organic word-of-mouth flywheel. I'm just in the process of implementing a dual funnel for our b2c and b2b products and organic referrals are already happening well for successful b2b customers. I'm curious, what specific actions do you take to promote organic referrals for your customers? Are you fully relying on achieving great customer success or are you also actively asking for referrals from customers through specific campaigns etc? Would love to hear your thoughts! Ps: Your videos are always a highlight at the end of the week! 😄

Looking forward to seeing you become the next Ben Francis!!

Wow, just subscribed. Thanks for this level of transparency it helps fellow entrepreneurs a lot :) Out of curiosity: how much did you invest in the retreat? I am always puzzled to make up the right budget it would be interesting how you decided to allocate that budget (I am super scared of allocating too high, or making the retreat too "boring" on a cheap budget)

Congrats! Would be interesting in the future to see a breakdown of the “L” side of your p&l too. How do you think about burn? Investing for growth? Etc

Learning a ton, thanks bro

Love you and what you do man! I have a youtube channel too (not this one) and thinking about signing up! (Partially because I think you have an amazing personality)

😁The question that just popped into my mind: Are you doing this as prep for your quarterly review, sort of something to review yourself and then have an even better presentation after. Or are you holding your quarterly report again but for us? Anyhow, much love, your content is awesome, this channel should be way bigger 😅 I love your outlook on things, like that optimistic skepticism 👍

good video, got me to click. Think next video can be about your employees who they are and how YOU, the ceo of a startup, chose those specific people. I don't see a lot of CEOs of startup specifically talking about who they need, how many people they need etc. Also what you deploy capital for? What's the VC money going towards? That would get me to click on a video. Just some thoughts...great job with this one!

Great video. Could you share a template of your financials spreadsheet and formulas for other startups to use?

banger vid again brother

hi jay; would you be interested to make a video in how you raised pre-seed / seed round money for stan?

do you have the video of how to create a startup?

How did you learn to code without a computer science/ IT degree and background?are there any resources you’d suggest?

Interesting

Without revealing the actual figure what would be the compensation package for the intern? (a range would do just not to disclose his salary directly :))

Henry is the best hahaha

hey i’m actually from the bay if that could still work to try and apply?

what's your AWS bill?

Wohoooo

what about referrals?

easy money

What do you use for analytics? mix panel?

I have great product idea can you help?

Ben Simmons caught a nasty stray as an ineffective problem solver. 😂

What is stan about?

Hey Jayhoovy - why did you start this channel and showing everything publicly? Being a CEO is already hard, now you are adding a second job as a content creator. Just curious!

This felt like the best business school lecture ever. Whilst I watching this I was thinking damn people probably paying £100k to not get taught this well 😂 Thank you for the content bro!! ❤

have tou tried A.I.?

@jayhoovy I liked and subscribed to support only so you can eventually pay Henry to get out of that box #paythatmanhismoney