How long until FreshBooks partners with Yodlee, builds some reports and has a more complete solution?
Or... Intuit creates a version of Mint.com for small businesses? They have a lot more cash and overwhelming marketshare in the SMB market. They'd be able to do this in 5 years, not 20-30. I think this poses a huge threat to InDinero.
That being said, the product that Jessica has already built is quite impressive. But, if it takes 20-30 years to iterate towards solving all of the financial pain points of a small business, you'll be too late because Intuit has a huge head start.
You could have made the same arguments about Mint and Intuit. If it's so easy, why haven't they done it already?
For Intuit, this is close to the textbook example of the innovators dilemma. Intuit cannot do this easily because it will cannibalize their existing business. How would they introduce it?
They can't just add the features to their existing product, because the market for this product is different (business owners, not accountants).
They can't sell it as a separate add on, because that makes InDinero seem really good value for money.
They can't sell it for the same price or less than InDinero because it will eat profits from their existing products.
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Question is...
How long until FreshBooks partners with Yodlee, builds some reports and has a more complete solution?
Or... Intuit creates a version of Mint.com for small businesses? They have a lot more cash and overwhelming marketshare in the SMB market. They'd be able to do this in 5 years, not 20-30. I think this poses a huge threat to InDinero.
That being said, the product that Jessica has already built is quite impressive. But, if it takes 20-30 years to iterate towards solving all of the financial pain points of a small business, you'll be too late because Intuit has a huge head start.
You could have made the same arguments about Mint and Intuit. If it's so easy, why haven't they done it already?
For Intuit, this is close to the textbook example of the innovators dilemma. Intuit cannot do this easily because it will cannibalize their existing business. How would they introduce it?
They can't just add the features to their existing product, because the market for this product is different (business owners, not accountants).
They can't sell it as a separate add on, because that makes InDinero seem really good value for money.
They can't sell it for the same price or less than InDinero because it will eat profits from their existing products.