# Invest In The Future Of Sports Coaching! | Skillest, Inc.

- Canonical URL: https://wefunder.com/feed/163366
- Entity ID: wefunder:feed_item:163366
- Published at: 2023-04-28 08:39:20 UTC
- Updated at: 2025-07-14 00:32:01 UTC

## Author
Brian Park

## Subject
Skillest

## Content
In June 2022, Skillest had $1 million in cash and a monthly burn rate that peaked at over $100,000.We had 10 months of funding left and it was clear that fundraising was going to get tougher.I was stressed because we weren't growing fast enough and we would run out of money unless we made major changes.We needed to cut costs, grow revenue more quickly, and raise more funding, all at the same time.I focused on cutting costs first because that was a change completely in our control. We slashed our marketing budget. Stopped all ads and all spend with agencies and partners. We needed to reduce our staff to cut costs as well. This was painful, but it was also absolutely necessary.The path to grow revenue was less clear. But after significant market research, competitive analysis, and planning discussions, we decided to add a new business model. We started charging coaches $49/month to use Skillest in September 2022. This was a really big change for us.In just a few months, we grew the coach SaaS revenue to $20,000 per month, which made a huge difference to our bottom line.The final change we needed to make was to raise more funding to extend our runway. Raising funding from institutional investors like VCs was going to be tough.As a marketplace business, I believed that our coaches and students would be the best investors to bring on. So we launched a community round on Wefunder. I've been blown away by the support from our coaches, students, and community. We raised over $420K from 238 investors.The end result of all of these changes is that at the end of March, Skillest had over $750K in cash and our monthly burn rate had dropped below $35K.The Skillest team was able to accelerate growth and increase revenue while reducing costs. I'm really proud of what the team was able to do and I'm more confident than ever!It's not too late to join Skillest as an investor. Join here.One of the most exciting things we have launching is new sports outside of golf. We are starting with swimming and baseball and we even have a 4x gold medalist coaching on Skillest! I expect more sports to launch soon.Skillest has turned the corner. We are well on our way to becoming a profitable high growth startup and the changes we have made position us to grow faster in the next few years.If you'd like to be a part owner in Skillest, time is running out. Our community raise ends on April 30th.Join us as an investor in the future of sports coaching!