Suggested by DL Darwin Lui almost 3 years ago
Small business make up 99% of the businesses in US and is the lifeblood of our communities. But the average small business fails within the first five year; most due to the same handful of reasons. I am looking to help small business owners make better decisions so they can reach profitability faster, strengthen their cash flows, take advantage of growth opportunities, and plan for divesting in the business to retire.
Small business has always been difficult, but the pandemic put the spotlight on the struggles every small business owner encounters. PPP and ERC have provided short-term relief, but should not be counted on for the long-term health of the business.
Are you interested in addressing this Unmet Need?
@ leolabs.space
I am quite interested in this idea @Darwin Lui. I have some ideas (and real world data points) on what kind of data insights might be a good starting point. While there are many products pulling metrics, data and insights from online businesses on Shopify and other platforms, there is a huge lack of insights for businesses using POS (non Square/Clover) systems at retail locations. Specially businesses with more than one location. I have identified some verticals that fall into this bucket. Happy to discuss more.
Founder @ SuiteSpot
Thanks for the interest in this unmet need. I have spoken with several organizations supporting small business and see this as a complement to what they do, or as a substitute where they don't have reach, do not have the data, and cannot scale. Most of them said this is much needed, but will take a lot of work (and a lot of data).
Scientist- Process development
Out of curiosity, is it known what types of data are most important to a small business, other than like cash flow and profitability? I would imagine given the breadth of different businesses that narrowing in on a few relevant data points would be challenging. Thinking from an NFL analogy, everyone does the combine, but only an expert in the position can tell you what combination of that data is critical to that position.
CEO | Founder | Managing Partner @ Platform Venture Studio
@Brett Wischow has spent some time looking at this space. He can perhaps share some companies he found along the way.