Update #3 – October 2022
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Update #3 – October 2022
October was a fun month – the team is starting to gel and we’re hitting our stride. The last month also highlighted how much I had been missing working out of an office every day (is that sad??) with similarly motivated people – ain’t for everyone, but sure is for me.
But back to reality – we still have zero (0) customers, but aiming to fix that this month. Let’s dive in:
What We Do
Ocho helps business owners (creators, consultants, freelancers, independent workers) build wealth. The first product we are launching is a fully managed Solo401k account with a smart investment product built into it. The second product is a membership site to educate business owners on personal finance. For more insight into our vision and strategy, read our manifesto.
We’re moving about as fast as we can with a single full-time engineer (shoutout to Alejandro who’s been crushing it) but the pace of product development is the limiting factor at the moment. But with an engineer starting yesterday, and another to be announced shortly, we’re about to move a whole lot quicker. Some highlights from the month:
- We are now approved by the SEC as a Registered Investment Advisor (RIA) – fuck yea SEC, much quicker than I anticipated.
- Hiring continues to go great: Jess starts today as a co-founder running the education side of our business. Yash started yesterday on engineering, and Alex has been helping us for a few weeks on design & is already a critical part of the org. Paul, meanwhile has been running SEO and in just a few weeks has shipped a ton of relevant content. I’m probably jinxing this, but we may even be done with recruiting our founding team ??
- We are shooting to launch the first version of our product on December 8. This will likely not support investments yet – just the ability to set up a solo401k, make an election & claim the tax deduction. It’s very close (sneak preview) & should have beta customers in the next 2 weeks.
- Membership product planning has begun in earnest, and we’re looking at launching it during the last week of January. We have confirmed shooting dates in early December for the first three courses:
- Tax Optimization for Small Business Owners by Lorilyn Wilson
- Trust and Estate Planning for Startup Founders & Employees by Mani Mahadevan from Valur
- Angel Investing in Startups by Elizabeth Yin from Hustle Fund
What’s Happening This Month
- Getting the first version of our product in the hands of customers – we’re looking to onboard 10 paying customers by the end of the month.
- Planning for our public launch on December 8 – lots of moving parts need to be in place – product, marketing site, PR, a free course on retirement accounts for business owners etc. – but we’re on it.
- Close out our friends & operators fundraising round. If you are interested in participating, you can read this & fill out the attached form.
How You Can Help
- Nothing at all rn – but we’re looking to launch December 8 so will definitely have some asks then
Talk to y’all in a month.