$1M REVENUE, $0 PROFIT: OUR D2C REALITY CHECK

Summary from the TLDR newsletter

Kodgem built its business around a device that helped people with their posture. Despite the company's growth to $1 million in revenue, there was zero profit for its founders due to several mistakes, including inventory planning disasters, no real financial management, and failed marketplace partnerships. The founders never paid themselves, causing them to almost burn out completely multiple times. They had gotten caught up in the growth story and forgotten the most basic rule of business: you need to make more money than you spend.