Billfaster presentation to Small Business Association. Developing the Ipod of accounting applications. How to start a software as a service company, win market share with a compelling user offer
4. Market Need: A system to replace Excel or Pen and Paper… “ I use Excel, there is no system for a small business like mine. I rely on the Accountant to do my paperwork…its €1000 a month down the drain” Niamh Barraton – Designer “ Admin is a waste of time, but you have to do it to pay your taxes. I care about cash in and cash out….the rest takes care of itself” Killian McNurley – The Furniture Store “ I tried a PC-based system but it took too long. I want something that does the bare minimum…no bells or whistles. It just does what my Accountant tells me” Robert Brown - Photographer “ I use a pen and paper, then transfer to Excel. I just want a simple system that’s easy to use and gives me the basics…Cash management, Suppliers and Bank. I waste my Sundays doing paperwork. Anything that reduces wasted time would be great” Martin Ansboro – Honest to Goodness Foods
5. Food Outlets Owner Operators Sole Traders Start-Ups Targeting 80% of businesses..defined as “small”…
6. Use Word to create invoices… ..Excel to manage accounts … the post office to send them… … Order book for customers… … and files of paper to manage suppliers. … they are not well-served by technology…. Accountant to make sense of it…
7. Until recently, the market was dominated by traditional solutions… Price Functionality € 300 pa € 600 pa Advanced (multi business) Mid (stock) 26,000 8,000 20,000,000+ 5,700,000 14,000 400,000 6,000,000 400,000 20,000* * MYOB Business acquired by Mamut Summary: Accounts Packages do too much…Excel doesn’t do enough 400,000 50,000
8. … Lets create an invoice using the market leader: Quickbooks….
9. … the second click takes the user to….the Setup checklist … with over 60 links to other parts of the system…
10. Click on “Guests”…then on the Invoice icon…. … ignore the 30 related links on the page….
