Field Notes
Operating notes from the runway window.
The field notes behind every interactive tool we ship. Math first. Marketing last. Written for the period between first paying customer and Series A.
May 11, 2026
Compounding Churn: Why 5% Monthly Is Actually 46% Annual (And Three Scenarios That Show It)
Monthly churn compounds. 5% monthly equals 46% annual. Three scenarios at $20K MRR with 3%, 5%, and 7% monthly churn over 24 months show why churn is the bootstrapper's silent killer — and what the math actually does to your growth ceiling.
May 11, 2026
Burn Multiple for Bootstrapped SaaS: Why <1.0x Beats the <2.0x Venture Bar
Burn multiple is the efficiency metric every Series A investor opens with. The formula, the David Sacks benchmark, the bootstrapped target investors don't tell you, and why the venture bar at <2.0x is the wrong line if you're not VC-backed.
May 11, 2026
SaaS Churn Rate: Logo, Revenue, Net — Which One Lies to You
Logo churn catches product fit. Revenue churn catches pricing. Net revenue retention catches expansion. Most bootstrapped founders track one, miss the other two, and lose 6 months of clarity. The three formulas, the failure modes each catches, and the bootstrapped-grade benchmarks.
May 11, 2026
SaaS Gross Margin: Why 80% Is the Floor, Not the Goal (And What COGS You're Forgetting)
Most SaaS gross margin content quotes a 70-80% bench without telling founders what to include in COGS. The hidden COGS list, the formula, by-segment benchmarks, and why 70% margin SaaS is structurally a different business than 85% margin SaaS.
May 8, 2026
How to Calculate SaaS Runway in 4 Inputs (Free Calculator)
Stop modeling runway in a spreadsheet that breaks every quarter. Four inputs, three scenarios, one default-alive verdict — plus a worked example and the free MRR Canvas calculator.
May 6, 2026
MRR vs ARR: Which One Should a Bootstrapped SaaS Track First?
MRR is the operator's number. ARR is the storyteller's number. A side-by-side breakdown with formulas, cadence, and the sub-$10K MRR rule most bootstrappers get wrong.
May 4, 2026
The SaaS Runway Playbook for Bootstrapped Founders (2026)
Runway is the operator's first metric. Three runway models, a worked $18K MRR example, and the 18-month target most pre-seed founders miss. Free calculator inside.
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