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BREAKING: Moneybox records HUGE revenue growth and achieves profitability £77M OF REVENUE AND £26M OF PROFIT Founded in 2015, Moneybox is now one of top go-to platforms for saving and investing in the UK. Last week it announced a new valuation of £550m as a result of a secondary sale. At the same time it released its latest financial accounts: 🚀 £77.2m of Annual Revenue (vs £28m in 2023) 🚀 £26.5m of Profit before Tax (vs -£4.1m in 2023) Moneybox grew revenue by a whopping 169% in 2024, while swinging to profitability 🤯. What’s insane is that 2024 profit was only £2m lower than total revenue in 2023! Interest rates are likely to have played a large role in this growth, with revenue from their Savings product increasing from £18m in 2023 to £63m in 2024 - representing 81% of their total revenue. The challenge for Moneybox will be retaining this revenue when interest rates drop. Assets under Management have also grown significantly, from £3.5bn at the end of 2022 to £10bn currently! Overall this is amazing news, and it’s another UK fintech to achieve profitability. Congrats all. Moneybox also raised several rounds of funding on Crowdcube. If you're interested in accessing the top crowdfunding opportunities from around the world sign up to my newsletter here: https://lnkd.in/eW2CtCiX

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The 3 strategies every startup needs. (and almost everyone confuses) 🟦 A business strategy. 🟪 A product strategy. 🟩 And a positioning strategy. But what are these things exactly? How are they different? And how do they connect? —— Here is a breakdown of each strategy. (Using our business Fletch, as an example) 🟦 Business Strategy This strategy answers the question: “Where are you going?” It includes things like: - Your vision. - An analysis of the market opportunity. - Your financial goals (relative to the opportunity). - An outline of the business model. - The resources you’ll need to execute. The vision and goals here are critical. They set the foundation for every business decision for how you go about building and selling your product. (ie. the business strategies drive your product and positioning strategies) For Fletch, we set a very clear vision and goal for ourselves: → To build a $1M service business helping startups market their products. And we used this as the north star in developing and refining our product and positioning strategies. 🟪 Product strategy. This strategy answers the question: “What do we build? And why?” It includes things like: - Customer analysis. - User needs (stemming from your customer analysis). - Feature prioritization. - Product roadmapping. As we developed Fletch’s product strategy, we iterated through many different concepts of what we could build. - We tried a sales deck service. - We tried a pricing service. - We tried a competitive landscape service. - We tried a homepage service. As we changed the product strategy to test these approaches, we also had to develop unique positioning strategies for each of these products. Because product strategy and positioning strategy are two sides of THE SAME COIN. 🟩 Positioning strategy. This strategy answers the question: “How do we explain what we’re building?” It includes things like: - Target markets. - Competitive alternatives. - Product differentiation. - Messaging. It’s critical to understand that product strategy and positioning strategy influence each other. It’s not uncommon, when we are working with founders on their positioning that we end up influencing their entire product strategy too. ——— Key takeaways for startup founders: → Your goals and aspirations drive everything. Be clear about what you want and are trying to do — and every other strategic decision will get a little bit easier. → Your positioning and product strategies are linked. Be aware of this connection and acknowledge their differences — and you’ll avoid (some of the) chaos between your marketing and product teams. #startups #strategy #positioning #productstrategy

🚨 6 Reasons Your Product Fails (and How to Avoid It) Most founders think building a product is just about coding or design. But the real reasons your product sucks are the details most founders miss. Here are 6 reasons your product fails and how to avoid them. 𝗡𝗼 𝗧𝗲𝗹𝗲𝗺𝗲𝘁𝗿𝘆 = 𝗙𝗹𝘆𝗶𝗻𝗴 𝗕𝗹𝗶𝗻𝗱 🛑 Why It Fails: No telemetry means you don’t know what users are doing—or why they leave. ✅ How to Avoid It: Use tools like Mixpanel or Intercom to track behavior and spot issues early. 𝗪𝗲𝗮𝗸 𝗢𝗻𝗯𝗼𝗮𝗿𝗱𝗶𝗻𝗴 𝗧𝘂𝗿𝗻𝘀 𝗨𝘀𝗲𝗿𝘀 𝗢𝗳𝗳 🛑 Why It Fails: If users don’t get value fast, they bounce. Walkthroughs aren’t enough. ✅ How to Avoid It: Use templates, defaults, and self-serve flows so users hit value immediately. 𝗜𝗴𝗻𝗼𝗿𝗶𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗘𝗳𝗳𝗲𝗰𝘁𝘀 = 𝗠𝗶𝘀𝘀𝗲𝗱 𝗚𝗿𝗼𝘄𝘁𝗵 🛑 Why It Fails: If users can’t invite others, your product stays small. ✅ How to Avoid It: Add simple collaboration features and viral loops (think Google Docs invites). 𝗙𝗿𝘂𝘀𝘁𝗿𝗮𝘁𝗶𝗻𝗴 𝗘𝗿𝗿𝗼𝗿 𝗦𝘁𝗮𝘁𝗲𝘀 𝗞𝗶𝗹𝗹 𝗧𝗿𝘂𝘀𝘁 🛑 Why It Fails: Users get stuck when error messages don’t tell them what to do next. ✅ How to Avoid It: Use errors as nudges—show how to fix the issue and get back on track. 𝗧𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝘀 𝗮𝗻 𝗔𝗳𝘁𝗲𝗿𝘁𝗵𝗼𝘂𝗴𝗵𝘁 🛑 Why It Fails: Forgetting reminders leaves users stuck and costs you revenue. ✅ How to Avoid It: Bake in behavior-based emails to pull users back and complete actions. 𝗖𝗼𝗻𝗳𝘂𝘀𝗶𝗻𝗴 𝗨𝗫 𝗠𝗮𝗸𝗲𝘀 𝗨𝘀𝗲𝗿𝘀 𝗤𝘂𝗶𝘁 🛑 Why It Fails: If your product feels weird or clunky, users won’t stay. ✅ How to Avoid It: Use familiar metaphors and clear labels. Make interactions obvious and smooth. Want to know the other 9 reasons your product isn’t working? 🎧 Check out the episode—link in the first comment. What other product mistakes have you seen? Let us know in the comments! #thestartuppodcast #startup #entrepreneur #founders #ProductManagement #UXDesign

🧐 Are your friends and family impacting your success? 👫 The people you surround yourself with have a profound impact on your success. No matter how brilliant your business plan may be, if you’re consistently around those who drain your energy, your potential is stifled. 💬 As Jim Rohn famously said, “You are the average of the five people you spend the most time with.” This principle applies not just to your personal life but also to your professional growth. Surround yourself with people who challenge, inspire, and elevate you. 📊 Studies show that behaviors and attitudes are highly influenced by your social circle. For example, you’re 171% more likely to adopt positive habits—like exercising regularly—if you have friends who encourage a healthy lifestyle (Gallup, 2010). The same principle applies to your mindset and ambition—success is contagious. 🎙️ I spoke to Harv Nagra on The Handbook Podcast with Scoro this week on this and more! 🗣️ Spotify: https://lnkd.in/eZ9-Y56W 🍏 Apple: https://lnkd.in/eFC8e8H2 🌟 So, choose your circle wisely. Your success depends on it. #Leadership #BusinessSuccess #Networking #Entrepreneurship #SuccessMindset #PersonalDevelopment #ProfessionalGrowth #PowerOfRelationships #JimRohn #BusinessTips #EntrepreneurLife #Success