The November Inside Scoop: 🚀 Lemon7 Investor Style Update
Lemon7 Monthly Investor Style Update
Hey!
Welcome back! This is my fourth email in the new investor style monthly updates where I transparently share my business highs and lows with you.
If you missed the past investor updates you can read those here:
As always in this email -
✅You’ll see our goals, sales, successes, and failures—every month, in your inbox.
✅ Our financial data
✅A front-row seat to every decision, every strategy, and every pivot we make.
✅You’ll know exactly where the money goes, what’s working, and what’s not.
This isn’t just a newsletter; it’s an open book.
Here we go! 👇
TL;DR
Revenue Growth: Revenue in November increased by 21.17% compared to October, showing a strong improvement over the 8.18% growth from September to October.
Sales Pipeline: Our pipeline continues to perform well with a continued 66% success rate with approximately two out of every three proposals are accepted.
Customer Retention: We experienced zero churn this month, which is encouraging. We did, however, slow down onboarding slightly to ensure we maintain a strong client experience while integrating additional freelance support. Despite strong growth, we’re delaying some onboarding until the new year.
Market Trends: Market spending power is shifting. Many companies, especially our eCommerce clients, are investing heavily in Q4 to maximise year-end performance, particularly after challenging first and second quarters. with Black Friday, ad spend increased by about 30% across clients that were bigger YoY. It was the highest spend I have ever seen working in marketing. Most small retailers opted out of the ads and used an email only strategy due to the spike in cost compared to last year it was a real squeeze on the margins. Most had an increased spend and more sales as a result but lower value in terms of AOV. Mostly down to a bigger discount than offered previous years. This actually led to many experiencing a flat year over year despite the increases.
Team Expansion: We have welcomed new team members and are continuing to hire, albeit through non-traditional methods.
Key Metrics:
Our momentum remains strong across all our metrics. In November, we predicted a 10–12% growth but actually achieved 21.16%, exceeding our expectations. While we're pleased with this performance, we remain cautious about pursuing growth at all costs. This approach aligns with our commitment to sustainable development and helps us avoid pitfalls that can lead to early startup failures. We're focusing on building the team, refining processes, and setting achievable goals—even if it means slowing down growth to ensure long-term success.
Business booked and retainers starting in December account for an additional 11.97% growth over November. This is a promising start, and there may be one or two more deals we close before the end of the month. Not experiencing any churn this month has also alleviated pressure, especially after the October churn of 13.55%. We addressed this issue in October, and we're now entering December on very stable footing.
Here’s what our growth looks like so far with next month predicted both for MRR and ARR.
Here is what we can predict the business will look like in December of next year if we continue to hit 10% month over month growth. It puts us on a run rate of just under €1million ARR. I suspect next month will be the first month that this newsletter has a predicted 7 figure ARR for the future which is really exciting to see.
But, here’s what the business will look like if 5% of revenue churns or goes away every month despite a 10% month over month growth rate. The growth is much slower but still manages to cross the 500k mark.
I’m way less worried about churn as we move into the new year but I know 1-2 clients who plan on wrapping some of their projects at the end of year, so I suspect I will have a little churn moving into January, but it’s always hard to tell how a new e=year will perform. Every year I tend to get proposal requests as people want to get their marketing on track, but they are more on the other side of Christmas, so some of January’s predictions just need to wait compared to other months.
Team & Expenditures:
Last month, I shared the positive news that our expenditure was around 60% of our total revenue, and we had begun onboarding new team members through an innovative hiring process focused on freelancers. November, however, has brought significant changes as we continue to evolve our approach and invest in key talent.
We’ve temporarily increased our team expenditure to €15,000, which now accounts for 64% of our November revenue. This increase comes as we’ve brought on two new, high-impact roles: a web developer and a senior video editor. These roles are already driving results, with two new service lines launched—Shopify web builds and viral video editing—both tailored to our largely eCommerce client base. I’m thrilled to share that we’ve already booked enough revenue to make these roles profitable within just six weeks, a testament to the demand for these new offerings.
Our focus on Shopify builds is a natural progression, as most of our clients operate in the eCommerce space and require robust, scalable web solutions. Additionally, the senior video editor is helping us create viral, high-performing video content that not only elevates client campaigns but also positions Lemon 7 as a creative leader in the space.
Evolving the Hiring Process
The system I introduced in October for working with top-tier freelancers is proving to be a game-changer. It allows us to access the best talent in the industry without committing to fixed overheads, which is critical for a business in its early stages. The invite-only system, combined with a stringent application process, ensures we maintain quality while scaling our capacity.
Freelancers are seamlessly integrated into our workflow, where they can pick up tasks from dedicated client channels. This structure enables flexibility, ensures quality through an internal approval process, and allows us to match expertise to specific client needs.
I’m already seeing the benefits of this system, with new team members joining from France, Amsterdam, Ireland, and soon the UK. This approach allows us to work with the best freelancers globally while maintaining cost efficiency and adaptability.
As we head into December, I’m confident that this flexible hiring model, combined with our expanded service offerings, will position Lemon 7 for sustainable growth in 2024.
Diversification of Revenue Streams:
Courses:
This month, courses had to take a complete back seat. Onboarding new team members took more time than anticipated, and closing sales to cover their costs added pressure to maintaining close to a 40% margin on the business. While this has been challenging, the course waitlist continues to grow steadily. Unfortunately, I’ve had to shift this initiative to Q1 instead of Q4—I was overly ambitious in my initial timeline.
Adding to the pressure, there was a significant setback when GoDaddy incorrectly billed me a $4,000 invoice for marketing services. Despite confirming a refund, they’ve been painfully slow in processing it, and I won’t see that money back until January. This situation has been extremely frustrating and forced me to spend days resolving it—time that could have been invested in growing the business.
Although it’s been a tough call to delay the courses, I’m confident that the extra time will allow me to execute this project better and with the margins we need to scale efficiently. Passive income through courses will further strengthen our profitability once launched.
Sponsorship:
I’ve canceled all sponsorships except for one—an exciting deal with TikTok themselves! I couldn’t turn down the opportunity to work directly with TikTok, given their alignment with our goals and the unique credibility it adds to Lemon 7. All other sponsorship deals have been rejected, as I’m fully focused on growing our audience and long-term brand value without promoting external businesses.
That said, I’ve got something entirely new planned for social. While I can’t share too much just yet, I’m working closely with my new senior video editor on a fresh concept that I’m excited to roll out. This approach will tie into our overall goals for passive income and audience engagement, but for now, I want to keep it a surprise. Stay tuned!
Marketing Experiment Results:
This month, LinkedIn videos, Instagram videos, and other content creation efforts had to take a real back seat. Thankfully, early in the month, I struck gold with three viral videos back-to-back, which carried my online growth despite being quieter. Content creation requires a huge amount of focus and time, but with Black Friday being the equivalent of Christmas Eve for an agency, growth and client work had to take priority.
That said, email marketing drop-offs continue to decline, which is encouraging. As we move into the new year, I’m optimistic about the new direction. I’ve struck a deal with TikTok to become an SME ambassador, which will allow me to experiment with using TikTok for small business growth - this should help promote my own business also.
On a personal note, after 18 months of consistent content creation, I’m feeling a bit burnt out. This is one of the key reasons I’ve teamed up with Aoife McNamara, our senior video editor, to revamp our entire content strategy. I’m exploring ideas that branch out beyond marketing and AI, with some fun, creative concepts up our sleeves that I’m looking forward to rolling out.
Email Marketing Evolution:
Our new newsletter approach continues to perform well. While subscriber drop-offs persist, they’re declining steadily, and engagement is rising. For example:
To further combat drop-offs, I’ve updated all messaging where I collect emails, ensuring the expectations for this newsletter are crystal clear. Early results suggest this alignment is helping. It’s a long-term process, but I’m optimistic this adjustment will stabilise the list in the coming months. As you can see below, the drop off dips are dramatically decreasing and the up and to the right growth line is progressing faster with this new newsletter.
What I feel good about:
Social Media Growth:
I crossed 160k on Instagram and almost 31k on TikTok and maintaining above 200k when I look across all channels (IG, TikTok, YouTube, LinkedIn and Newsletter) which is a really exciting milestone to have reached.
Hiring:
I feel even better about the hiring solutions I’m putting in place now. As I’ve shared in previous updates, I’ve had some challenging experiences with hiring, but working with freelancers has completely mitigated those concerns. The flexibility and quality of work they bring to the table are unmatched, and I’m already seeing how this model can feel like a close-knit team despite its unconventional structure. With our new web developer and senior video editor onboard, we’re not only delivering exceptional client results but also laying the groundwork for process-driven service lines that scale efficiently. It’s all about process, process, process—and this model proves that the right systems can make all the difference. I’m becoming so thankful and grateful for the team and the people who believed in me enough to stick with me to get back to this growth.
New Website:
We wrapped up new branding with the world class branding expert Fabian Geyrhalter a few months ago as mentioned in the last email but I love it so much I am putting it here again. Finally this is in the works but in my last email I predicted we’d be going live in December, this took a back seat to accommodate client web projects first and foremost so again another Q1 project rather than Q4 is anticipated on this one.
What I am freaked out about:
While there’s still a lot to feel good about, I’ve found myself grappling with a new challenge this month—a lack of motivation and burnout around content creation. Content has always been a cornerstone of what I do, and I’ve poured so much into it over the last 18 months. However, I’ve noticed that the drive I’ve always had is starting to wane, and that’s been a bit unsettling.
At the same time, I’m really glad I’ve recognised this early and can nip it in the bud before it becomes a bigger issue. Burnout isn’t something to ignore, and I’m excited to change things up to bring a fresh approach to the way I create content. Working closely with Aoife, our new senior video editor, I’m brainstorming new strategies and formats that not only re-energise me but also ensure I can continue delivering value in a sustainable way.
This shift will also allow me to explore more creative ideas and step away from the repetitive grind of producing the same types of content. I’m seeing this as an opportunity to innovate and rekindle the excitement I had when I first started creating.
As for the rest of the business, my priority remains ensuring that the Lemon 7 experience is maintained as we implement new processes. Rolling out structural changes in the background can make a business more susceptible to hiccups, but I’m keeping a close eye to minimise any impact on client experiences. It’s moments like these where I double down on working only with "Top 1%" talent to ensure excellence across the board. We review countless CVs, applications, and requests daily, but only a fraction make it through. True marketing talent is rare, but our commitment to finding the best is what keeps Lemon 7 delivering exceptional results.
While there are challenges, I’m optimistic about the changes we’re making—both in content creation and in building a stronger foundation for the business.
Personal & Fun Highlights in November.
In November myself and my partner took a lot of time out to go hiking with our dogs and I’ve been maintaining my 3x gym sessions per week pretty much consistently. This has been a real game changer to my overall motivation. Never slack off on the fitness side has been my biggest takeaway from this month because when you slack off your mental health slacks off with it. This month was so much fun in the outdoors.
This month I am HOOKED on Bad Sisters. If you haven’t watched it yet - my goodness you are missing out! Sometimes it’s good to take marketing inspiration from places you haven’t really thought to before. If you’re a marketer - take time to watch how they hook people in, how the show intro plays into all the twists and turns of the show. The storytelling is impeccable.
What’s next and What I need help with:
Hiring:
As always, I am always looking to find great candidates, but in particular great freelancers. If this is you or someone you know, please feel free to reach out to me.
Agency:
I am still working on our whitelabel offering so if you know anyone who works in an agency that does white label work I would love to speak with them if they are open to chatting with me on their approach to lead gen on that front while I am still toying around with that idea.
Clients:
If you know someone looking for paid advertising or social media management we’ve streamlined out pricing and proposal requests. Those can be shared here. Also, we’re opening up a commission structure for people who refer clients - so definitely reach out to me if you have someone in mind and we can negotiate your kickback :)
November Sign Off:
Happy to answer any questions you might have. Replying to this email will send you straight to my inbox. If you have feedback on insights you’d like to see in this email - just let me know.
Thank you for all the support.
Jen
A very engaging update Jen.
More power to you 🙌