Hi all,
The April edition of this email was popular, so it’s time for another edition.
It’s meant to be digestible and easy to read, but if you want to ask more details on any of it please reach out.
Things that we’re excited about
1) Pace Generative – Our New AI Search / GEO Agency
If you haven’t seen our recent Press Releases, we launched a new agency last week which we are very excited about.
Crucially, the service offering was not plucked out of thin air, but instead is something both RevenueZen and Eastern Standard are already starting to offer to their own clients, meaning the demand for the services, and our ability to fulfil the services are already validated.
We decided to spin up a dedicated brand to:
a.) Capture the opportunity to its fullest
b.) Position the service as GEO-First rather than an SEO agency that also offers GEO services
Hey, Gemini agrees on the importance of this.
You can learn more about these services by visiting PaceGenerative.com/geo.
2) Pace’s Referral Partner Network
Pace Generative is the ONLY GEO agency in the world which offers referral partners a 20% revenue commission, plus stock options in a Nasdaq-listed company.
Not only that, we also offer secondary commissions if you help us recruit other referral partners.
Send us clients, earn commissions. Send us other partners, earn a bonus when they earn commissions.
This is obviously a huge opportunity and we believe will help us achieve massive scale at a fast…….Pace.
(When people ask us the benefits of being a public company, this is a big one).
Sign up to be a referral partner here: Pacegenerative.com/partners
3) Compounding Consistent Execution
The teams are all in a good place. It’s taken some tweaks and learnings to get here, but right now we don’t have any doubts or frustrations across the portfolio.
Sure, some businesses need to work harder to improve their results, and some are still tackling issues.
Business throws wrenches at you almost daily.
But right now we have found a good balance between decentralisation and centralisation, and we can deal with anything as it comes up.
When that’s the case, you can start to stack performance improvements, and it shows up in the PnL before you long.
Examples of this across the board are:
– Contentellect (our content agency) putting some outbound cold-email campaigns in place
– Proofreadanywhere (our career-builder digital course) being proactive with new initiatives and diversifying traffic sources
– SEOButler (Our link building agency) fixing some website issues which has resulted in a big revenue jump in June
– Revenuezen (Our SEO and content strategy business) improving margins, helping put legs on Pace Generative’s offerings and fulfilment
– EasternStandard (Our digital marketing and branding agency) consistently managing cashflow, sales, and fulfilment
– Vital Reaction (Our molecular hydrogen supplement company) improving margins and refining their offer
– DDS Rank (Our new sales person getting up to speed and working fairly autonomously)
These are nothing revolutionary, and are things every business should be doing. That’s actually the point. It can be difficult to get teams executing consistently, and even more difficult to get teams to identify and troubleshoot issues as they come up (or even before they do so), and that’s definitely been a pain point we experienced in 2023 and the first half of 2024.
What I like about the current state of affairs is not just that we seem to be finding the grove on these things, but that we’re building a playbook for consistently doing it with future acquisitions too.
4) Breaking the $1MM per month revenue barrier.
In our April update, we mentioned we were very close to breaking the $1MM revenue per month barrier. Well, we achieved this and will likely do it consistently from here on.
The next milestone is consistently having profitable months and then profitable quarters, and we are not far away from that milestone either.
Things That Frustrate Us
1) Acquisitions
We haven’t made any new acquisitions since October, and that is partly due do the focus on organic growth across the portfolio. As we neared profitability, it made sense to deploy resources on organic growth rather than integrating new acquisitions.
That said, we do have 1 acquisition we are working on and hoping to close, it has just taken longer than ideal. Sometimes it goes that way. We think we’ll have the capital by a certain date, or we think the deal structure makes sense, and then it doesn’t.
For those of you wondering about acquisitions, I would say…yes we are still planning on making some, and yes there are one or two in the works, but also the most important thing right now is profitability, and acquisitions aren’t the essential piece of achieving this that they were previously. Every company we’ve acquired has closed the gap, and we’re at the point now where we’ve made enough to get to where we need to.
Does that mean we’ll stop?
No, because acquisitions are always a core part of our strategy and how we plan to compound value over the years.
But don’t think a lack of acquisition in the last 6 months equates to a lack of progress, because we’re all good on that front.
If I had my way, we’d have made a few acquisitions this year, but we need to do them the right way, and with the right funding, and so far that hasn’t come to fruition.
It’s not a sign of a macro change, or inability to get deals done. It’s more a sign that we are able to be more selective now.
Wrapping Up
There’s only really one frustration at the moment, and a lot to be excited about, which is great.
People often make sports references when talking about business, so here’s my attempt:
In sports, particularly league-based Football (I’ll let you decide which version I’m referring to) you often reach a point where your destiny is in your own hands.
You aren’t relying on competitors slipping up in order to qualify for the next phase, or win a title.
To the extent you can win your remaining games, you control your outcome.
This is where Onfolio finds itself today.
We can’t control all the factors (algorithms, spending habits, Presidents), but to the extent that we continue executing on the path we are on, we are in perfect control of our future. We aren’t relying on some external factor or hail-mary changing our fortunes.
Nice place to be in.
Dom
CEO – Onfolio
P.S Have you signed up to be a Pace Generative referral partner yet? 20% Of Revenue!