Month Five – Yep, I missed a few months…
It’s almost half a year into this pandemic, if you can believe it! If March 2020 was the longest month ever, the last few months feel like they’ve flown by. It’s almost like everyone is getting used to the new normal, and time no longer inches along at a glacial pace.
July 2020 continued to demonstrate the same overall results I’ve seen in the last few months for both of the SaaS-focused companies. The most obvious takeaway was nothing abnormal about the month; it was boring, routine, and predictable. In 2020, that’s a welcome sign.
For QuotaGuard, very little changed in the overall business environment for cloud application service providers from my vantage point.
For Appointment Reminder, there continues a slow return back to normal with some sectors (travel) still not returning in full force yet.
QuotaGuard Static IP’s
QuotaGuard had normal subscription growth in June, and I didn’t notice any lingering effects from the pandemic during the month. As businesses continue to migrate towards a new normal, many customers now have their work from home teams established. Companies are moving forward with normal business operations, including using cloud infrastructure services.
Appointment Reminder had a few clients return with notable exceptions from our travel industry customers. This is a welcome trend, but we’re still likely to have many companies never to return. The start and stop nature of many state reopening plans has caused too much havoc on smaller businesses.
We’ve seen new customers sign up as they need more appointment scheduling software to plan for the future, and we’ve been a welcome beneficiary of that trend.
The team is also working on updating the website for a new fresher, cleaner look, and I hope to have that go live in August or September.
IT Spending Bounce?
Now that we’re well into the new normal, I am starting to wonder…will there be an IT infrastructure spending boost in the future as the pandemic becomes less of a threat and the future looks more positive?
Since many companies still aren’t operating with completely back-to-normal budgeting, plans, or operations, this may be wishful thinking or too far off to assume will come to fruition. Still, it is something I’ve been thinking about a little bit lately.
That’s a lot better than the “how bad can this get” thinking of just a few weeks ago.
Hopefully, there is a delayed spending boost to come at some point in the future. It could be 6 months out, or it could be two years from now. But once the rear-view mirror sees more pandemic, a delayed spending boom is a possibility.
All in all, a very routine month with mostly blocking and tackling work on a day to day basis.
After the last few months, a boring month of normalcy was a welcome change.
Want to learn more about my journey acquiring and operating online companies, including other failed acquisition lessons learned? Check out Online Business Ride Along, a monthly deep dive into my journey, with actual online investments and monthly P&L’s for each businesses.