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?
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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
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13. Effective Revenue Model
Free Tier … how Paid Tier …
am I doing? taxes, long-term
trends
Indirect revenue Subscription
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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
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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
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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
