How My Company Went From Zero to a $10 Million Run Rate
Oct 16, 2023
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The former podcast co-host, Jesse Pujji, discusses the growth of his business, Growth Assistant, achieving a $10 million run rate in two and a half years. They explore the concept of growth assistant, discuss revenue, customer growth, lessons learned, and the importance of trust in business.
Recognizing and capitalizing on product-market fit is crucial for rapid growth and demand.
Talent matching is a critical factor in the quality of service delivery and customer satisfaction.
Deep dives
The Growth Assistant: From Zero to $10 Million Run Rate in 2.5 Years
Growth Assistant is a portfolio company co-founded by Jesse Pooji and has experienced remarkable growth, reaching a $10 million run rate in just two and a half years. The company provides offshore digital marketing talent to brands and agencies, helping them meet the high demand for skilled professionals in the industry. With over 350 employees in the Philippines and more than 100 customers, Growth Assistant offers growth, design, and outreach assistance for tasks such as campaign management, ad optimization, email marketing, and influencer outreach. Pooji and his co-founder, Adrian Schwagers, have built a strong and trusting partnership, leveraging their complementary skills and deep ownership of the business. The company's ideal customer profile includes fast-growing startups, e-commerce businesses with over $10 million in revenue, and agencies with over 25 employees. Growth Assistant has primarily acquired customers through Twitter, referrals, and Pooji's network, and their revenue for this month is expected to reach $900,000. Pooji emphasizes the importance of identifying product-market fit, trusting your team, and being agile in taking action.
Lessons from Building Growth Assistant
Pooji reflects on several key lessons learned while building Growth Assistant. He emphasizes the importance of recognizing and capitalizing on product-market fit, which drove the rapid growth and demand for their services. Additionally, he highlights the power of leveraging unfair advantages, such as his and Schwagers' combination of skills and deep ownership mentality. Pooji also underscores the value of taking action and not getting caught up in overthinking or excessive planning. The ability to swiftly adapt and iterate has been crucial to the company's success. Furthermore, Pooji emphasizes the significance of talent matching, as identifying the right talent for clients has been a critical factor in the quality of their service delivery.
The Evolution of Growth Assistant
As Growth Assistant has scaled from $1 million to $10 million in run rate, the business has undergone significant changes. Organizationally, the company has built out functional teams to handle marketing, sales, and client matching, shifting from a one-person operation to a more structured and distributed model. Pooji explains that the focus now lies in scaling to 50 employees and investing in the necessary infrastructure to support further growth. The company's revenue model is based on charging per full-time equivalent (FTE) per month, with higher premiums enabled by the high demand and scarcity of offshore digital marketing talent. Pooji also distinguishes Growth Assistant from an agency, noting that they provide talent and do not get involved in the actual work execution, emphasizing the importance of their staffing-centric approach. While Growth Assistant has primarily acquired customers through Twitter, referrals, and Pooji's network, they have plans to explore paid marketing channels in the future.
Looking Ahead for Growth Assistant
As Growth Assistant continues to evolve, Pooji reflects on the importance of continually identifying new opportunities and adapting to meet evolving market needs. He acknowledges the potential for paid marketing to play a role in their growth strategy but emphasizes the need to lay a strong foundation of content marketing before pursuing that avenue. Pooji also highlights the increasing importance of supply and streamlining operations to meet growing customer demand. The company's current focus is on finding great offshore talent and matching them quickly to meet client needs. Pooji's insights highlight the ongoing journey of Growth Assistant and the pivotal role of adaptability and agility in building a successful business.
Episode 55: Alex Lieberman (@businessbarista) chats with former podcast co-host Jesse Pujji to reflect on the growth of his business, Growth Assistant, how he came up with the idea, and how he was able to build it from ground zero.
