Business updates, random chaos, and Inovact Social

Hi there!

How are you?

I'm doing well, Thanks for asking.

In this edition of the founder's buffet, I want to share some updates on Inovact's business, random scheduled life as an entrepreneur, and Inovact Social.

Business updates:

It's been about a month and a half since we started generating revenue ( how we actually wanted to make money, although we were revenue-positive from day 0) as a talent management company.

We have landed 3 clients and so far placed more than 12 candidates (interns and full-time roles). The revenue from this model has given Inovact a good runway. As I mentioned in my previous newsletter, revenue and profit have always been at the core of my business values.

As a bootstrapped entrepreneur, I always focus on the runway, paying my team, and re-investing money into the company. The good part of our current business is that our expenses are minimal. Seeing money getting credited into Inovact's bank account has given me confidence and a huge boost.

You know how an entrepreneur's life is right? It's uncertain. But yes, a little bit of money getting credited gives confidence.

We're doing good in terms of revenue. We are profitable, as we have always been. We are very excited to see where this journey takes us. I was worried about raising external funding, but I must say, it is a relief now.

Random chaos:

It's amazing how an entrepreneur's life is random and chaotic. But we still manage to get things done, without expecting anything in return but the success of our companies.

I have started to realize this in my life recently. My life and schedule are random. For a few days, I'm doing marketing, a few days finance, and some other days product, then comes focusing on business and growing it, client calls, dealing with candidates, talking to users, talking about Inovact Social and the list just goes on.

But the beauty about this is, that although entrepreneurs are not specialists in most of the things that they do, they know how to get things done and are experts in delegating. This is the best thing I love about entrepreneurship. To get other people to work on your vision and convince them that it's worth working on is the most satisfying thing in the world for me.

When it comes to my team, they're the best! My team is filled with gems. The way they work together without my interference is just so satisfying. I mean, just imagine people are working on your idea because they think it's worth it and they take ownership.

Anyway, my point is, that even if an entrepreneur's life is random, it's beautifully random.

Inovact Social:

We just hit 2,500 downloads. Average engagement time is going up. We are working on retention strategies. We are getting mostly positive feedback from new users.

Well, what else can I expect? But there's always a line of uncertainty. What if it fails? What if I'm wrong? What will I do if this gets messed up?

But I always try to push myself by looking at Inovact Social's positive reviews. To know that you're solving somebody's problem and getting appreciated for that is what keeps me going.

Anyway, we have started gamifying the platform. You can now earn points for different interactions and redeem those points in the future( feature coming soon)

With feedback from early users, we have started to work on UI & UX. Users can expect to see a huge difference in the UI soon. Anyway, that's all for now!

Thank you for staying here. I'll see you next week.

Your Friendly Founder,

Sarang Pani

@inovact