# June 2022 Mylance Update | Mylance

- Canonical URL: https://wefunder.com/feed/156799
- Entity ID: wefunder:feed_item:156799
- Published at: 2022-07-15 17:16:33 UTC
- Updated at: 2025-07-09 03:22:12 UTC

## Author
Bradley Jacobs

## Subject
Mylance

## Content
RevenueRevenue in June grew 19% MoM to a new record! We are on track with regard to cash and remain in a great cash position given we’re operating at breakeven. We are currently sitting at 24 months of cash runway, similar to previous months.HQMay was all time high for us for HQ user growth, and June has proven to be the same. Given the slow summer, it’s great to see us maintain these numbers.We’re keeping a close eye on cohort retention of our HQ users. We know we have work to do to get the HQ to be a highly engaging and retaining product, and working hard on the research and strategy side to build features that will add immense, recurring value to our customers.Consultant GrowthLinkedIn content has proven to be the most effective marketing method on the consultant side. Thus, we’re doubling down on that approach, getting out daily content and now starting to test ads. That being said, organic content is very effective, and we saw that one viral post can have a huge impact on sign-ups (269% increase in sign-ups in 48 hours over the previous period).HQ MarketplaceOur top focus on the software side is helping consultants get leads for their business.There are a few different ways we can approach this:Coach consultants to get their own leads (Accelerator program)Bring them leads through the marketplaceWe need a narrow focus as an early stage start-up, and figuring out how to get more projects on the marketplace and our resulting product direction is our top priority right now.The path to a $1M revenue run-rateRight now we’re at $664k revenue run-rate through our tax product and the Accelerator. However, we’re adding tons of value to consultants through our community, access to experts resources, templates, software, marketplace, workshops, and consulting best practices. We’re scoping out a premium subscription to capitalize on this value and will be testing this in the coming weeks.This will enable us to have more stable MoM revenue that’s less reliant on the Accelerator, and make more progress towards the magic number of $83.3k in revenue per month!We’ve come an incredibly long way in 2022 thus far: increasing our revenue over 5x in the first half of the year, growing our consultant database over 3x. Our lean team is hustling to help our customers launch and sustain consulting businesses, and we’ve received a lot of great feedback (sharing one detailed testimonial from an Accelerator customer below!) The next stage of the business for us is building a more sustainable, scalable business and getting to that $1M monthly run-rate!That's all for now. Have questions, advice or feedback? Please reach out!Best,Bradley JacobsFounder and CEO, Mylance