Hank Leber
๐ค SpeakerAppearances Over Time
Podcast Appearances
We had 70K in the bank.
Okay.
We had raised about 650.
Yeah.
And we had gotten just that month, we had gotten the cash flow positive by about $100.
So I was like, hey, this is great.
I'm going to go out and fundraise like this, you know, arms crossed, instead of like this with hands outstretched because we had infinite runway.
And literally that very month is when it happened.
And we burned up the 70K in, you know, three and a half weeks.
So so the story goes, I sat down with a team of 11 at the time and I sat down with them.
These are great growth marketers, some of the most talented people I've ever worked with.
And I sat down with them and I said, look, guys, we don't know what's wrong or why this has happened at the time.
We didn't know.
We just knew that everything was dead.
I said, we have 70K in the bank at our burn rate.
We're going to run out in like three weeks and then that's it.
And I don't think there's any coming back from that.
We have two options.
One, we push forward and we figure out the solution together, all of us, and burn hard.
Or I got to cut it back to like three people and let everybody go and we'll have to deal with that after we've figured it out with the extension of the runway.