Update #6 – January 2023
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Update #6 – January 2023
Month number cinco is in the books, and we’re moving at a really good clip. I genuinely believe that one of the only meaningful competitive advantages you have as a tiny startup is speed so we’re doing our best to capitalize on that.
As I warned in my last update, revenue numbers for January were slowww af after the 401k “busy season” of December, but with Ocho Money formally launching today we’re expecting a solid February.
My #1 Time Sensitive Ask
It’s launch day for our education product, Ocho Money and if you are so inclined I’d love if y’all shared some love :
- Or do your own thang by linking directly to https://ocho.com/money
As a reminder, Ocho Money is our education product pitched as training to level up your finances as a business owner. It includes online courses, live workshops, an active community and the ability to ask a professional questions.
It’s available at a discounted price of $199 / year during the “launch window” until next Tuesday – send this link to anyone you think might be interested! The content is really good, and we’re continually adding more stuff to it.
Revenue (cash basis): $6,465
MRR: $2,612 (+24%)
Customers: 158 (+24%)
- Lots of hard work to get Ocho Money ready for primetime – we had two launch webinars yesterday, with the official launch today! We didn’t have a ton of webinar attendees but were able to convert a very good percentage, and more importantly, people really resonated with the content.
- The engineering team has been on fire working really hard to be able to launch investing on our core Ocho Solo401k product – ideally, as soon as this month. Lots of work still to be done, but the velocity has been excellent, and it’ll be fun to be able to start reporting AUM in our monthly updates soon!
- We found a way to allow people to invest in Angellist syndicates, RUV’s and deals via an Ocho Solo401k – so we shall soon achieve my goal of having an Ocho investor use an Ocho Solo401k to invest in the company
- Excited for Lucas Stettner to join our team as an engineer (at least until he goes to school in the Fall)
What’s Happening This Month
- Launching Ocho Money
- Launching investing
- Figuring out what our next fintech product is after the Solo401k
How You Can Help
The biggest thing is helping spread the message on the Ocho Money launch above. But beyond that, some other stuff if you wanna be particularly useful:
- Jaiya has been crushing it on our brand Tiktok – give us a follow and help us hit 1k so we can add a link.
- Unfortunately, things did not work out with Fahd :/ – we’re not actively looking but low key keeping our eyes open for a strong fintech PM. Things we’re looking for are: wants to work out of an office every day in Brooklyn, is super detail-oriented & excited by our mission. Does not have to be senior. Lmk if you know anyone.
- Been looking into the world of SMB 401k’s – if you have a startup or small business that offers a 401k, I’d love to know who you use and how you like them. Specifically, if they suck, I’d love to know exactly why.