This Week in Startups
Overcoming SMB Roadblocks: Expert tips from Gusto's Josh Reeves | Episode 1988
Aug 2, 2024
Josh Reeves, Co-founder and CEO of Gusto, shares insights from his entrepreneurial journey, emphasizing the importance of building products that resonate with users, particularly in the SMB sector. He discusses overcoming challenges like compliance and cybersecurity in small businesses, as well as effective growth strategies and metrics. Reeves also highlights unique marketing tactics, such as word-of-mouth referrals, and the significance of fostering deep customer connections to drive retention and satisfaction in today’s competitive landscape.
01:05:28
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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.
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.
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