Leitrim Business Network Presentation - Bullet Online Accounting and Payroll Software

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Leitrim Business Network Presentation - Bullet Online Accounting and Payroll Software

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Leitrim Business Network Presentation - Bullet Online Accounting and Payroll Software

  1. 1. John Farrelly john@bullethq.com / @johnnyleitrim 1st October 2013
  2. 2. Agenda • Why/How we started the company • Growing pains • Lessons learned
  3. 3. Products
  4. 4. Why did we start Bullet? • Do we really need more accounting software? • Forgetful accountant! • Alternatives require knowledge
  5. 5. How are we different? No accounting knowledge required
  6. 6. How are we different? Payroll Included
  7. 7. How are we different? To-do Lists
  8. 8. How are we different? Tracking Mileage & Expenses • People want to reduce tax • Mileage & Expenses • E.g. Manorhamilton to Cork - €197 • People thought it’s hassle and forgetting
  9. 9. How are we different? Tracking Expenses
  10. 10. How are we different? Tracking Mileage
  11. 11. How are we different? Expense Automatically Tracked
  12. 12. Growth Niche Focus • Cant out-market the incumbents • Tech startups • Media Spotlight – easier to get onboard • Expect everything as easy as FB • Dublin Beta • Won the peoples choice award (PR)
  13. 13. Growth “Started for €1,400” • Risky – do we damage trust? • Good news story – inspire people • Irish times & SiliconRepublic – brand awareness
  14. 14. Growth Support and Empowerment • Make support really easy • People felt empowered when their ideas got included. • Increased referrals
  15. 15. Growth The right people
  16. 16. Growth €100K grant ebook • We found it confusing, so did others • Helpful timetable not available elsewhere • Got contributions from big names • Long time to write – collecting the information
  17. 17. Growth Ebook – pay with a tweet
  18. 18. Growth €100K grant ebook • Reached lots of people – building brand awareness and trust. • Full page article in the Irish times • Guest on Newstalk down to business with Bobby Kerr
  19. 19. Lessons Learned Market Research • Pitching product vs. the right questions • Hello Bullet, Goodbye Accountant • Product/Market fit • Ash Muarya – Blog & Running Lean
  20. 20. Lessons Learned Targeting Pain Points • Fear vs. Greed • Make the user feel smart
  21. 21. Lessons Learned Use examples • Teaching people something they don’t understand • People didn’t understand expenses • Mileage calculator – values didn’t mean anything to them • “Get a free sales guy” page
  22. 22. Lessons Learned Personal Stuff • “Sleep is for wimps” • Emotional value of co-founders • Dealing with boring tasks • Pomodoro Technique
  23. 23. Questions & Answers

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