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EP 111: How Josh Reeves (CEO, Gusto) Built a $10B Company Serving Small Businesses

The Logan Bartlett Show

NOTE

Gusto Took Years to Build 50-State Coverage

Gusto embarked on a mission to build a sustainable product for small businesses that would foster organic growth through customer satisfaction and referrals. From the outset, the focus was on achieving good unit economics, underpinning their long-term vision of supporting small businesses effectively. Rather than rushing into revenue generation, Gusto aimed to create a useful and scalable solution. After validating their approach, they debated whether to diversify their product lines but ultimately decided to prioritize geographic expansion. The complexity of operating across the United States, likened to navigating 50 different countries due to diverse payroll tax regulations, required methodical coverage of every state and its specific tax rules over several years.

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