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We focused on product and brand development in October, and we’re really happy with the results. You can take a look at some of the resources below. I’d love to get your thoughts:
As of today, our physician network covers 55% of the US population in 13 states with several more in the pipeline. So if you know anyone interested in biohacking that you think might be interested in signing up as a beta customer, let me know.
We’re coming out of stealth mode and we’ll be opening up our beta in November with a new website and a smoother process for joining the waitlist.
We’ve also been testing a beta app with a small (and patient) group of customers that has been very productive. We’ve learned a lot about customer preferences, behavior, and feedback mechanisms to improve adherence.
NOTE: We’re now getting our monthly books on the 15th, so I’m going to move our monthly updates to the 15th of the month going forward so I can share more accurate numbers. You may notice that some of the numbers below have been adjusted to reflect our actual books—we were previously keeping track on spreadsheets.
Top line revenue is still the most important metric for us to track at this stage of the company as we learn more about our customers. Our gross margin has been consistent around 60%. All revenue to-date has been generated without direct marketing spend, and November will be the first month that we run small-scale experiments to test a number of marketing channels.
We’ve set a goal of 30% month-over-month growth for November, which is going to put a lot of strain on our operations team. Our process is still highly manual, which has given us useful insight into customer needs and our core value proposition, but naturally makes it difficult to scale quickly.
We believe there is still a lot to learn from these customer interactions, so we’re going to push forward with the manual process for at least another month. There is a clear path forward for automation, but now is not the time to optimize.
Our major bottleneck right now is operations/customer success bandwidth. We’ve implemented a highly manual process that has given us valuable sight, but it’s putting a lot of strain on the team. We have a growing waitlist that we don’t have capacity to onboard at the moment. All things considered, this is a good problem to have, but we’re going to need to find a solution to this soon.