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A Year Is Just Short of Forever
A year is a LONG time in technology years. It's been a little over a year since the management team came back from sabbatical and nearly a year since my last blog post. Probably a good time to reflect, following our major strategy shift towards toiling in the "Labs" with a singular purpose in the self storage industry. A great deal has changed and Red Nova Labs seems revitalized with more energy, passion, greater challenges and larger opportunities.
A new company. We have 38 employees now compared to 31 last year, so big deal, right? Well 24 of those 38 have been hired in the last year. That takes a lot of resources to hire and train. It was an important part of the strategy shift. We lost some very talented people because we couldn't agree on a singular vision. Community and helping others had come at the expense of supporting our customers and employees. We still participate in the community events, but choose to ride instead of drive... and we are selective. We still advise startups and encourage the entrepreneurial spirit, but with a purpose.
A culture shift came with bringing in so many new people, all having the same business goals. Imagine a raft full of people, each side paddling whatever direction they want. It's a lot of fun, especially when partying and with the sun out, but a hell of a long way to the finish line and a real bitch when somebody falls in. The new group brought youthful enthusiasm and a caring spirit: about each other, customers, the work and the finish line. We've always worked hard, but we work a lot smarter now. We put several systems in place allowing us to accomplish more with less, and provide transparency to everybody in the company. We still have fun, but there seems to be more effort to have fun with ourselves than the rest of the city… attend an RNL kickball game to learn more.
So how has it worked out? Probably too early to tell but sales are up 46% and net income is up 900% in the last year… not good enough, but it never is. In this business you're only as good as your last product or customer. We have a lot more work to do, but we are doing it. We are working closely with strategic partners in the startup community, expanding our building and developing some disruptive technology. Lets talk again in a year and see where we are. Until then, talk to the heart and soul of Red Nova Labs - the employees - to gauge the pulse.