Are you effectively keeping track of the growth your company is gaining? In episode 231 of Journey to $100 Million, Kevin shares a very positive growth update for us here at Array Digital.
When we started our podcast this past January of 2019, our ARR (annual recurring revenue) was at $1.2 Million. As of August 30th, 2019, we have exceeded $1.6 Million in ARR! This is incredible news, knowing that we still have one more month to go in the third quarter. Not only that, but we recently received our bi-weekly financial report from Katya, and our growth rate is currently at 100%! At this pace, it is looking like we will not only meet, but exceed our goal of $2 million in ARR this year.
For 2020, we plan to set our goals even higher due to our growth rate. If we maintain this pace and stay the course, we predict that Array Digital’s future is very bright. That being said, the reality is, if we hit the $2 Million ARR mark this year, we have to continue to double these yearly goals annually in order to hit the $100 million threshold. This is a huge task to achieve, but if you don’t aim high, you’re not going to rise high. The key is to get these financial reports on a regular basis, track your goals, and monitor your company goals to ensure you are on the right track.