Recently, I sent an update to my shareholders. Half of them have been patient and still supportive to this day and the other half were already ghosting me.
I understand well that it’s hard to justify putting more into something that is about to die. This is all the more the reason why I appreciate it more those people who have stuck with and continue to support me more.
Nevertheless, I’m grateful for all the help and support I have received over the years and most especially during the time when I was starting out. I wouldn’t be here if not for any one of them who committed to investing, advising, and supporting me.
In my update, I provided a quick run-up of the financial data since we started in 2015/2016 up to this year. I highlighted the yearly trends in our expenses and revenue. I focused on the last 2 years and pointed out that right before the pandemic, the company started to make a profit.
Then, the pandemic hit.
For the whole of 2020, we had 0 new accounts. Our revenue shrunk by around 40% and lost a few important clients. It was bad. Our management team scrambled to prevent losing more and recalibrated our executions to stabilize our revenues. Thanks to our partner from Japan, we were able to control some of our bleedings.
By 2021, this is where we felt the hardest kick by the pandemic especially come Q2 and Q3. We lost more staff and again tried our best to ensure that the business can still function with the leanest team. This has been one of the most depressing times for me as a founder. I wanted to quit. I wanted to sell. It was depressing.
But lo and behold, by Q3 and Q4 of 2021, we suddenly closed new accounts — 7 more! This gave me a boost that we can make a turn-around. However, personally, it was still a big challenge. At least, we’re in better shape than a few months ago. The current team is doing great — we’re focused and undistracted. We made more cuts in our expenses and started to pay our past obligations.
This year, made more sacrifices so the company can hasten its recovery. And, I’m glad the team is self-managing and independent. They know what to do and the team is stronger than ever.
In our estimation, by the end of the year, we’d make a full turnaround and would be able to settle all of our past obligations! I’m happy to share that our revenues exceed our expenses now.
I’ve learned so much in those 2 years than in all of my 10 years in the corporate world. Not to mention, I’ve been doing this company building, business development, and product management for the past 8 years.
Ah ah ah ah… staying alive staying alive.. staying aaaallllivvvvvveee…
