My Business Is Dying

A business providing bank statement conversion services has experienced significant revenue decline since February 2026, with Monthly Recurring Revenue down 12% and new subscriber acquisitions dropping sharply from 191 in January to 45 in August. The decline is attributed to increased competition from AI-powered alternatives, reduced marketing efforts, and users shifting to free AI chatbots for conversions. The founder plans to continue developing the product and analyze cancellation reasons to address the downturn, drawing inspiration from past business failures.