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E9: Henry Ward on Navigating the Startup Idea Maze and Building to Scale
"1 to 1000" | Scaling Startups with CEOs
Automating Services Industries with Technology
The key strategy is focusing on services industries with commoditized products differentiated only by brand, like cap table management. By introducing technology into these markets traditionally served by services, such as legal firms managing cap tables manually, a differentiation is achieved. This approach allows charging competitive prices as software costs are deflationary compared to labor costs, leading to significant profit margins. By automating services like 49A industry and fund administration, which have high labor costs, the company can offer better, faster, and cheaper solutions than traditional service providers.
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