Lesson 1 · Funding & capital
Fund experiments from profit, not from a funded neighbor’s pace
Adam once shared an office with Dave Rogenmoser’s team for two years before they started Jasper. As he tells it, they had been stuck where he was, then grew fast, raised money and hired. In 2023, running Retention.com with six people, Adam put all its free cash into a bigger push and a tighter ICP meant to fix churn, and the churn problem did not get solved.
From a 2023 detour back to discipline
- 2019Launches GetEmails, now Retention.com00:43
- 2023All free cash into a bigger pushMatching a former office neighbor’s funded growth; churn not solvedPulled back02:27
- January 2024Making a lot of money at an 87% gross marginData costs kept roughly fixed as it grows04:38
- March 2024Launches RB2BRetention.com’s profit is “the fuel behind everything”16:04
Watching a peer raise can pull you off a plan that works.
“And the craziest thing, when you're sitting on the other side of an office from somebody who is stuck in the exact same place, you're like, well, I can do that too.”
Adam Robinson, Watch at 02:27 Going further: He tried, and is clear about the result: “Thank God I didn’t raise money.” The spending did not solve the churn problem it was aimed at.
Staying small takes ego strength, not just discipline.
“What do you mean you only have six employees? Oh, yeah. It's a cute company.”
Adam Robinson, Watch at 04:03 Going further: Adam says he “lost my religion” during this period, regained it, and wouldn’t be surprised to lose it again. Nathan says he feels the same pressure to show a bigger team or a bigger raise.
A profitable, slower business can pay for the next one.
“It's the fuel behind everything we're doing. Like, we continue to launch more products.”
Adam Robinson, Watch at 16:54 Going further: He said that in 2024 Retention.com was 85% of revenue and 120% of profit, yet the team found the newer, growing product more exciting, so he kept explaining to everyone why the older one mattered.
