Q2 2024 - Guild Progress Update

Welcome to the Guild of Entrepreneurs Monthly Progress Report

What is the Guild | Our Community | Our Library

We are a decentralised, transparent, profitable community of entrepreneurs helping each other learn and grow.

Our Mission: To ensure every entrepreneur is supported

Guiding Principles: Avoid replication, partner wherever possible, and always serve the community first.

Progress overview

First, a quick note: We’re currently experiencing some issues with our email system. We’re actively working on a solution and appreciate your patience.

Now, onto the Guild’s progress:

Membership Growth: We’ve seen steady growth in our community. Our membership has increased from 85 in Q4 2023 to 97 in Q2 2024. It’s encouraging to see new faces joining our ranks.

Financial Overview:

  • Q2 2024 membership revenue: $606.96
  • Our now only expense; Digital Ocean is consistent, around $41-42 per month. Which is a lot better than what we were paying for Circle.
  • Our retained earnings reached $6,205.80 in June, showing continued positive financial health

Reflections on the Forum: The transition from Circle to our new platform caused some disruption to the forum. This pause gave us an opportunity to reflect on the Guild’s purpose and value. While AI tools are increasingly helpful for quick problem-solving, we recognise that the real strength of the Guild lies in human connections and shared experiences.

Guild Gather on Thursdays has continued throughout this period, providing a stable touchpoint for members. However, we’ve noticed that without the forum, we’re missing out on valuable impromptu connections and discussions.

Moving Forward: We’d like to revitalise our forum as a space for meaningful interactions. If you’re inclined, consider setting aside some time each week to engage - whether it’s sharing an update, asking a question, or offering insights.

In turn, I’ll continue to curate relevant content, offer support where possible, and facilitate connections between members who might benefit from sharing experiences.

The Guild has always been about more than just a digital platform - it’s about fostering a community of entrepreneurs supporting each other. Let’s continue to build on that foundation.

Thank you for your ongoing participation and commitment to the Guild. If you have any thoughts or suggestions, please don’t hesitate to share them.

Reminders

Progress metrics

Screenshot 2024-07-02 at 12.27.10 PM

What is DAU/MAU? DAU/MAU, or Daily Active Users over Monthly Active Users, is a key performance indicator (KPI) commonly used in the tech industry to measure user engagement for a product, particularly digital platforms and applications. This ratio helps assess how often users engage with a platform within a given month.

To break it down:

  • DAU (Daily Active Users): The number of unique users who interact with the platform on any given day.
  • MAU (Monthly Active Users): The number of unique users who engage with the platform at least once within a 30-day period.

The DAU/MAU ratio is calculated by dividing the DAU by the MAU for the same time frame, typically resulting in a number between 0 and 1. For example, if you have 1000 DAUs and 5000 MAUs, your DAU/MAU ratio would be 0.2, or 20%.

A higher ratio suggests stronger user engagement, indicating that users are returning to the platform more frequently within the month. Conversely, a lower ratio suggests that while the platform may have a broad reach, it doesn’t command regular or frequent usage among its audience.

By monitoring DAU/MAU, businesses can better understand the ‘stickiness’ of their product, which can be invaluable for informing product development, user experience design, and marketing strategies.

#1 metric estimating how much value entrepreneurs are getting

The Guild Financials

Become a Guild Steward ($15/month). They propose and vote on how to spend our profit, help cover the overheads of the Guild, and are invited to join the Guild’s Board of Advisors to steer and govern the community and gain a digital badge within the Guild.

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