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Outright Presents at Under the Radar
- 1. Helping small businesses thrive in a connected world steven@outright.com
- 2. 27M Small Businesses in the US Fortune 1000 6M employer businesses Outright 21M solo Focus entrepreneurs Am I making money? What can I do to spend more time with family? Am I in trouble with the IRS? 2
- 3. Small Business Possibility vs Reality Digital Data Paper Persistent 3
- 4. Story of “Victory Garden of Tomorrow” Outright is Joe’s “Business Brain” 4
- 5. Before … Spreadsheets, Paper 5
- 6. During … Five Minutes to Delight 6
- 7. “How Am I Doing” Dashboard 7
- 8. Staying Organized for Taxes 8
- 9. After … Happy Joe 9
- 10. Outright is Uniquely Positioned to Win • Small-business centric customer experience • Efficient, scalable customer acquisition • Creating value from big data • Effective revenue model • Right team for the opportunity 10
- 11. Top Rated, Most Used eBay Seller App 11
- 12. 100,000+ Customers Adding Growing Amounts of Rich Transaction Data Transactions In Outright 12
- 13. Effective Revenue Model Free Tier … how Paid Tier … am I doing? taxes, long-term trends Indirect revenue Subscription 13
- 14. The Right Team • Investors: Shasta, First Round Capital, Sequoia • Steven Aldrich, CEO • Kevin Reeth, Product Management & Co-founder • Ben Curren, CTO & Co-Founder • Laurel Lee, Product Management • Ryan Thompson, Business Development • Laura Messerschmitt, Marketing • Christie Strasia, Customer Care 14
- 15. Looking for Accelerants • What we want: – Data and distribution • What we can do for you: – Provide your customers with a great on-line accounting and tax service … using your data to improve the customer experience 15
Editor's Notes
- Dead-simple web based accounting that saves the solo entrepreneur time and worry. Our web-service automates data collection, provides valuable financial reports and dramatically simplifies taxesFounded by former Intuit leaders who saw the need for a simple bookkeeping solution leveraging web technologies, online data accessibility and distributed workflows
- ~10% of the population is a small business owner21 million solo entrepreneurs are asking:Am I making money? What can I do to spend more time with my family?Am I in trouble with the IRS?$1T in sales for solo entrepreneurs … $40,000 in revenue per sole employee business … dynamic with millions of business formed and shut-down every year.$30T in total sales for businesses with <500 employees
- 21 million solo entrepreneurs are asking:Am I making money? What can I do to spend more time with my family?Am I in trouble with the IRS?Small businesses are creating a digital exhaust trail when they buy or sell a product or service ... external forces driving more information to be available:Ubiquity of high-speed web connections for consumers and businesses, in-home, in-business, and mobileConsumer preference moved electronic payment methods (credit card, debit card) to nearly 70% of purchase transaction volume even in stores.More business transactions have an electronic footprint, whether the business is buying or selling ... checks are scanned, credit cards, on-line purchases.More business rely on the Internet to run their business ... online storefronts, emarketplaces, reservation systemsThat data can be harnessed to make a business run better with less effort.Small business revenues of $45k and spend $40k per year
- Connect small business owners to the information and people needed to make a good living in less time. Brings information in, gives feedback to the brain to help make decisions.
- “hodge-podge” … hours and hours a month … low confidence
- Freemium model … pay for staying organized for taxes, long-term data access
- Brandbuilt by the customer experience … confidence, simplicity, accomplishment, amazement
- Free and paid tiersEfficient customer acquisition
- Visa, AmEx, Intuit, Constant Contact, Magento, Google, Etsy