David Bladow, a co-founder of Bloomthat opened Hustle Con 2016.
He talked about how the flower delivery service launched, got funded and the moment he realized they only had four months of cash left. BloomThat was operating in too many markets and burning $550k per month. They simplified and reduced their burn rate to $15k per month.
He ended his talk with something like…
“What we discovered is that gross margins matter”
Well duh dude!!!!!!
Going into Hustle Con, I had really high expectations for the event. Entrepreneurs I know who went last year had very positive feedback, the speaker lineup was incredible, and the tagline “Startup tactics for non-techies” was practically written for me.
But the “Startup tactics for non-techies” never manifested.