
Startups For the Rest of Us
TinySeed Tales S2E6 | Best Growth Month Ever
Oct 15, 2020
Brian and Scottie Elliott, co-founders of Gather, an innovative interior design project management app, dive into their recent surge in monthly recurring revenue, surpassing goals with a current MRR of $8,200. They tackle the psychology of pricing and share insights on raising rates without pushback. The couple also discusses the challenges of transitioning from small firms to enterprise clients, highlighting the ongoing cash burn and the pivotal role of strategic decision-making amidst uncertainty. It's a journey filled with growth, hurdles, and optimism!
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Quick takeaways
- Gather achieved a significant milestone with $8,200 in monthly recurring revenue, reflecting their ongoing efforts and strategies to refine pricing.
- The co-founders are strategically shifting focus to larger mid-market teams, indicating a growth trajectory that requires new sales strategies and customer engagement practices.
Deep dives
Significant MRR Growth Milestone
The co-founders of Gather report remarkable growth in their monthly recurring revenue (MRR), achieving a notable milestone of $8,200 after previously setting a goal of $1,000 in a single month. This success is the result of ongoing efforts to refine their pricing strategies, which have been progressively adjusted to reflect the value they provide to mid-market customers. The founders express pride in surpassing their original target, but they acknowledge there is still significant work to be done to reach their long-term aspirations. Despite hitting new revenue highs, they face the challenge of sustaining growth while managing cash burn, underscoring the complexity of their entrepreneurial journey.
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