CTC's Revenue Peaked in June of 2022.
We rode the wave up with all of eCommerce and then experienced a significant crash.
It was an extremely challenging time.
It has taken us 25 months to make up that loss.
This month we will set a new all time high.
BUT there is one MASSIVE difference in the version of CTC today compare to June of 2022...
We have 100 less people.
We are 1/3 the size we were then.
It is crazy to think about.
But we are such a healthier, more talent dense, systematic, tech-forward machine now.
I have learned so much from all the mistakes I made along the way about what makes a service business work.
Here are a few of the most important lessons:
1. Your cap table is the life force of your business. Do whatever it takes to make sure it points into the business.
2. Financial incentives rule everything.
3. Clarity of your unit economics is so important in every business model.
4. Whoever is willing to be MOST ACCOUNTABLE to the financial result has access to the greatest potential reward.
5. Capacity is much more a mental hurdle than a time issue.
6. Trade upside for certainty anytime you can.
7. Bad deals are bad for everyone. Protect your margin or say no.
8. Product market fit is the best marketing asset you can have. Audience is a close second.
9. There are people with talent, people who work hard and people who learn fast. People who do all 3 are 100x value creators.
10. Technology is the ultimate leverage creator.
11. Build a real time view of your financial health and you will care more about it than you did before.
There are many more lessons learned through failure and many more to come but I am proud of where we have gotten to today and excited to keep building.
If you are in the service business and ever want to swap war stories I am happy to jam.
I believe it is one of the best business models ever created and would love to enlist more people into the opportunity it provides.