My game plan: Day 1 of 90 – Reflection
Dr. Julian Hosp
Contrarian; 2 startup exits; Currently managing our 100mil $ Family Office Portfolio; Ex-MD; Ex-pro-athlete; 3x Father; Husband; On to the next big thing! "Spend your time wisely... you don't know the remaining balance!"
Welcome to Day 1 of an intense 90-day journey. Eight tough months are now behind me and my company, after which I have walked out as the winner. A lot has been destroyed and ruined during this time – now it’s time to rebuild. Will we manage to rise from the ashes like a phoenix? The next 90 days will tell, and I look forward to taking you with me on this journey and perhaps winning you back as a customer.
What Happened?
Exactly eight months ago, on September 29th, my former business partner informed me that he wanted out. Since then, it’s been a tough battle. It was one of the worst phases of my life, full of legal battles, sleepless nights, and immense stress. But today, exactly eight months later, we finally closed the deal. I now own 100% of the company and am ready to embark on a fresh start.
The Next 90 Days
These next 90 days will be crucial. It’s our chance to rise from the ashes like a phoenix and put our company back on the path to success. Unfortunately, we lost many customers over the past months, funds were withdrawn, and some team members left us. But that’s in the past. Now it’s about regaining trust and fulfilling our mission.
Why Continue?
Many around me are advising me to just close the company. Why keep fighting? Why not just give up? But to me, that would signify failure. I don’t want to look back and think that I didn’t even try. Taking on this challenge and winning against all odds is the greatest satisfaction one can imagine.
Why 90 Days?
Many people have asked me, why 90 days? Why not a year? Why not 30 days?
Since we are currently losing money every month, which now comes straight out of my own pocket as I own the company, I need a solid plan to turn this around.?
That's where the concept of the 90-day timeframe, borrowed from my marathon or other workout experiences, becomes crucial. 30 days are insufficient for well-considered decisions, while 365 datsr can dampen motivation. Hence, the 90-day timeframe. Today was dedicated to team preparation, filling my schedule with crucial meetings. Some highlights aside of several 1:1s:
Marketing Key Topics:
领英推荐
Product:
Compliance/Risk Key Topics:
Ensure comprehensive understanding our current risks, determining which ones to avoid, which ones to mitigate, which ones to accept - especially with the 90 Day game plan.
Identify critical KPIs essential for the forthcoming 90-day period.
During townhall, I reflected on the last 8 months but remained focused on the future. We delved into the upcoming 90 days, highlighting our key focus areas. (The Townhall was recorded and will come as a video as well)
Legal and Finance is still super busy in cleaning everything up from the buyout.
Addressing a recurring question regarding layoffs: I firmly believe in our exceptional team. While laying off 20 employees might provide a financial cushion, it would diminish our strength and that's why I see no merit in this atm. Our team possesses the resilience and capability to drive Cake 2.0 to success. We will have to focus on strong performance assessment of each team member over the coming weeks - which will be key for our HR team.
One clear lesson from the past 8 months: Know your why!
Your Role in This Journey
I want to win you back as a customer. We’ve expanded our offerings, added new features, and are more transparent than ever. If you were a customer before, I ask you to come back and use our services again. If you have ideas or requests for things we should implement, let me know. Your feedback is crucial for our success.
Conclusion
These 90 days are our chance to prove that we can make it. I will post a video every day to keep you updated on every step. If you have questions or want specific topics discussed, write them in the comments. Together, we can overcome this challenge and emerge victorious.
Thank you for being here. Stay tuned to find out more tomorrow with Day 2.
LFG!