Quit my successful $100K revenue startup — to build something else!
Hello PH, I'm Jay, a first-generation founder.
I ran a product design agency for 4 years, working with dozens of series A startups to bring their products to life. Clocking revenues of over $10,000 per month at its peak.
Everything was great—great work, great clients, high revenue margins and continuous client flow.
Except for one thing — invoices were never paid on time. Not once. I raised more than 50 invoices across multiple clients and projects, but not even one of them got paid on time. The worst part was being in the unknown about when the payment would be done. The uncertainty was killing. This meant:
I couldn't plan for anything.
Always had a cash crunch at the end of the month, which affected my team's payroll, which affected me more.
Couldn't invest in growth opportunities. None.
The bigger problem was that I spent money to deliver a service, and now, I was again taxed due to late invoices; I was getting burned on both sides.
This meant extremely stressful day-to-day operations. I was always under pressure. The agony of following up made it harder. There was absolutely nothing to fall back on.
This was bad.
As I asked around, this is a global problem, apparently. 70% of global invoices remain unpaid or are paid late. This was shocking. Hundreds of founders are quitting, thousands of companies shutting shop, just because they couldn't collect their payments on time. This needed fixing.
We need a better system to collaborate, deliver work and get paid, without the uncertainty and the agony of payments that come with it.
Building something along these lines, and building this in public — currently in private beta.
Would love to share more details, guys. AMA!
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