My Investor Memo

I’m doing something different with today’s blog. Each month, I share a recap to about 100-150 existing and potential new investors, advisors, employees, plus some key stakeholders. And today I’m going to share my December update so you can get a taste of how I share our progress.

Some information I had to redact (e.g XXX) since a bulk of our competition subscribes to this blog.

Q&A Section

Q: I’m working on our MVP, what was yours? - Sam

A: I guess a combination of Google Sheets, a website made on Squarespace, and a Hubspot contact form. The foundation of our marketplace was clunky, email-driven, and all over the place. But it got the job done. - JB

Habits Inc. - Monthly Memo - December 2024

Hi all -,

Last week I had a long drive down to Texas. During it, I couldn’t quite come to terms with our biggest accomplishment of 2024. 

• Was it going from 0k to $XXXk+ in ARR? 

• Was it oversubscribing our pre-seed round and having it led by one of the top family offices / VC funds in the country?

• Was it our ability to reach millions of 25-45yr olds through LinkedIn, Instagram or TikTok? 

• Was it launching our MVP and growing our waitlist beyond 200+ financial advisors? 

• Was it getting into one of the most exclusive accelerator programs in the country and winning multiple startup awards? 

Or was it the thousands of families we helped find their financial advisor? It’s hard to say, but one thing I know for sure…we’re no longer a cute, little, innocent startup. 2025 will be all about execution, persistence, and taking things to the next level. And we are setting the tone in January:

• Releasing our brand new mobile application

• Releasing our brand new website

• Presenting at 1871’s Fintech Summit in Chicago

• (Publicly) Announcing our raise in prominent business journals and publications

Happy New Year y'all. I appreciate your continued support.

-JB

***Confidential, do not forward***

How you can help

1. Spreading the news!

   • Please reply to this email, if you’d like to help us spread the word of our new mobile application. All that it requires is your cell phone number so I can text you a few times in mid-January to like, comment, and share certain posts on LinkedIn or Instagram.

2. Hiring!

   • Available roles can be found here!

   • We are especially keen to hire a few new engineers so we can move quicker on our product roadmap.

Metrics / Highlights

To our surprise, December is usually a quieter month. Hence why we prepared a few product sprints and loaded up our calendar with interviews for new hires, but we ended up being slammed with consumer & advisor demos. It ended up being our strongest month of the quarter in terms of revenue, new followers & social media engagement, plus app downloads. 

• Runway: 18+ months

• December Revenue: $26k (~$XXXk contracted annual ARR)

  • We closed 3 subscriptions, but have 2 that will be closed by EOW. 

• November Expenses: $65k (October - $45k)

  • A one time $40k expense was spent towards diligence and legal fees with our priced round. 

• Financial Advisor Demand:

  • Added 11 demos in December to pipeline (Average is 15/mo)

  • Total Pipeline: 200+ (~$1.5M in ARR)

    • I’d estimate that our waitlist could grow by 2-3x if we began ANY type of outbound sales strategy, but given our current waitlist we are not concerned about future dealflow. 

• Family Demand:

  • We had XXX new families inquire, which results in about ~XXX matches (each family meets with 2-4 advisors on average). 

• YTD Content Engagement:

  • Tiktok 

    • 4.5M+ views

    • 125k+ profile views

    • 15k+ new followers

  • LinkedIn

    • 1.6M+ impressions

    • 426k members reached

  • Instagram (Data only available as of 7/15/2024)

    • 3.9M views

    • 101k+ profile views

    • 17k+ new followers

  • Jack’s Journal

    • 2,400+ new subscribers

    • 72% open rate

    • 51 total posts

A note about confidentiality. The world is a competitive place, so we don’t want this inside information spreading. Further, most of our partnerships and customers are under various forms of NDA. Do not forward this email or tell your friends about our details unless it has been publicly stated beforehand.

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^{Find Your Financial Advisor}

If you’re somebody on the sidelines or are not sure if a financial advisor makes sense for you or your family, just shoot me an email at [email protected].

Or… visit our website and book time with us!