In the spirit of transparency, a value which is personally very important to both me and the company, we’re releasing the Jakt January 2018 financials. This is something we’ll be doing each month this year.
I’m doing this for a few reasons:
- I believe in transparency and I think that our employees should all know the health of the company; With that said, this doesn’t mean that I need to release them publicly, which leads me to my second reason:
- To aid individuals who are currently in positions similar to mine when I was initially building Jakt. I wish I had the access to resources such as these at that time so I could understand where people were in the life cycle of growing their business, how that translated to financial results, etc.
- Because, why not? There’s nothing to lose in my opinion. For me personally, it feels freeing to release this information. This is me being transparent, authentic and seeking to put forth information I would have greatly benefited from as a young entrepreneur, and doing so fits in line my core values, and those of the company.
People have asked me if I’m wary for employees, future employees, or partners (clients) to see these (commonly private) details. The answer: absolutely not. If someone doesn’t want to work with or for Jakt because of our financial results, that’s ok.
The truth is, no business is perfect. There are ups and downs from month to month. This is me being my authentic self and if it turns people off, I’m ok with that. I have opted to practice transparency throughout all facets of my life and business.
Now, before you check out the financials I want to say one last thing; just seeing financial results doesn’t properly represent all of the factors that brought them to fruition.
Financial results are lagging indicators of actions that were taken months in advance. So, what you’re seeing here is the result of massive action, strategy and execution. Tons of execution. That’s really where the good stuff is. I want to tell that story so then when you look at the financials they are also coupled with context and a learning opportunity. To do that, I decided to start a vlog last year called “The Journey”. I did this for about 6 months, but I don’t think it ever fully captured the day to day and how we really got here.
So, I’ve decided to do something a bit more personal and intimate.
I’ve started recording a podcast of my daily life as the CEO, where I can really dive into the details of each day for about 15 minutes and give you a recap and talk about all the little things no one really gets to see. Things that weren’t even captured on video. You’ll get my raw thoughts, see all the constant adjustments and refinements I’m making, get into my head, etc.
I can’t wait to share this new project because it’s much closer to what I wanted to achieve when I started the vlog; a daily diary showing what it’s really like to grow a company and be a CEO. The vlog missed the mark in my opinion because I couldn’t share all the little nuances that go into running a business. I believe the podcast will achieve this. The first episodes will be released in March.
So, without further due, here are the financials:
Jakt January 2018 Financial Results
Gross Margin: $171,970
Gross Margin %: 55%
Net Margin: $99,952
Net Margin %: 32%
Revenue per Person: $15,329
Gross Margin: $230,302
Gross Margin %: 73%
Net Margin: $130,861
Net Margin %: 42%
Revenue per Person: $15,477
Team Size: 24
Bank Balance (cash before tax): $345,100
Bank Balance (cash after tax): $292,756