We’re launching Nectarine on Product Hunt today! If you want to help us out, head over to our launch page and check it out! Link is in bio.

For the last 1.5 years or so, Vivi, Shane, and I have been working on a new company called Nectarine (@hello_nectarine). We officially incorporated about a year ago, and launched in February.

We’ve been bootstrapping Nectarine so far. That means we didn’t borrow or raise money to start the business. Instead we are simply “living below our means” and trying to grow the business with the revenue we make along the way.

While true (or even generous), the $1.76/hour thing is really in jest. In reality, I’d consider our first year of starting Nectarine to be an unmitigated success. Starting a tech company with lots of legal and regulatory overhead is a very hard task. It’s even harder when it’s a two-sided marketplace (investors and advisors) with a relatively narrow profit margin.

Getting a fully working product up and running, SEC registration, 20 fantastic advisors on the platform, and still turning (a small) profit with zero funding is something I’m immensely proud of. @vivitron and @moneywithshane deserve a massive amount of credit because they’ve been working their tails off.

While getting to this point is a huge milestone, we obviously are barely at the starting line. In order to turn Nectarine into a successful business we have lots of work ahead of us on the marketing, technology, recruiting, product, and more.

BUT, the future is hopefully bright. Much of our expenses have been one-time legal costs relating to compliance and registration. And while we’ve been working on it for 1.5 years, we’ve only been generating meaningful revenue for about 4 months. If we can continue to grow, we have an opportunity to scale to a level where we have meaningful profit and can maybe even take home a paycheck!

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy

p.s. Thanks to sankeymatic.com for the chart!

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By: Gabriela Gonzalez
Title: Here is our profits and losses since we founded Nectarine
Sourced From: www.personalfinanceclub.com/here-is-our-profits-and-losses-since-we-founded-nectarine/
Published Date: Fri, 24 May 2024 00:28:53 +0000

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