About a year and a half ago, we were putting a tremendous amount of effort into tracking our expenses. We created a whole bunch of bank accounts and processes to track and lower our expenses.
But Erik also realized we were doing almost nothing as far as energy and concentrated effort on revenue. So we started tracking metrics like how much we were invoicing and how much out of that was recurring revenue and how much was project-based. This sheet only tracked recurring revenue because we were taking a hard shift away from project work so everything had to revolve around our recurring revenue. We were looking to find our annual growth rate.
About a year ago is when we stopped taking on project work. At one point we were at 255% annual growth in recurring revenue at the time when we were transitioning from projects to recurring. At our worse, we were growing at 61% year over year. Right now we’re growing at 95% and Erik still feels we haven’t even gotten started. It’s really gotten him thinking about what to expect in 2020.
Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.
Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is the also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.