This Week in Startups

Overcoming SMB Roadblocks: Expert tips from Gusto's Josh Reeves | Episode 1988

Aug 2, 2024

01:05:28

Snipd AI

Josh Reeves, co-founder and CEO of Gusto, shares insights from his journey in tech and payroll solutions. He delves into the importance of creating products that customers love, highlighting the balance of user experience and efficiency. Josh discusses the unique challenges faced by small and medium-sized businesses in tech adoption and compliance. He also emphasizes the role of strategic marketing and partnerships in Gusto's growth, showcasing how understanding customer needs can drive organic success.

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Quick takeaways

Building a product that resonates with small businesses fosters organic growth through word-of-mouth and enhances customer loyalty.

Data security and compliance are critical for businesses like Gusto, ensuring customer trust and safeguarding sensitive payroll information.

Strategic partnerships, particularly with accounting firms, are essential for expanding reach and enhancing the onboarding experience for small businesses.

Deep dives

Product Love Drives Success

Building a product that people love is crucial for success, especially in serving small businesses, as it fosters organic word-of-mouth and referrals. Unlike larger enterprises where revenue per customer can be high, small businesses typically generate less revenue, making it necessary for products to be genuinely useful to encourage user evangelism. This approach leads to greater visibility and trust within the target audience, and companies must ensure that their offerings resonate with users to stay competitive. When customers feel passionate about a product, they are more likely to share their positive experiences on social media and through personal networks.

Unlocking Potential: The Hidden Market

01:43

Empower Entrepreneurship through Purposeful Solutions

01:54

Intro

2min

From Startups to Success: A Career Journey

10min

Navigating New Business Formation and Compliance Challenges

2min

Navigating Gusto's Success Metrics

7min

The Power of Customer Love and Streamlined Communication

2min

Navigating Tech Solutions for SMBs

8min

Empowering SMBs: Bridging B2B and B2C Design Principles

5min

Navigating SMB Challenges in Sales and Marketing

19min

Navigating IT Challenges for SMBs

4min

10.

Strategic Expansion and Innovative Marketing Approaches

2min

11.

Navigating Growth and Public Aspirations

3min

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Todays show:

Josh Reeves joins Alex Wilhelm to discuss building a product people love (21:11), SMB challenges (23:56), growth strategies (36:47), and more!

Timestamps:

(0:00) Josh Reeves joins Alex Wilhelm

(2:16) Josh's previous startups and the early days of web development

(6:26) Transition to digital solutions and security for small businesses

(10:31) Gusto's growth, success metrics, and market penetration

(13:38) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist

(14:30) Gusto's North Star, marketing strategies, and channel growth

(21:11) Building a product people love with good unit economics

(22:29) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist

(23:56) Challenges of selling to SMBs and Gusto's product expansion