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Gusto co-founder here. By no means do we consider payroll to be finished! This is something that every employer needs and will always be a big (if not the bigge
by edawerd 11y ago
Gusto co-founder here. By no means do we consider payroll to be finished! This is something that every employer needs and will always be a big (if not the biggest) part of Gusto. One of the main reasons why our benefits offering is so good is that it's built on top of our own payroll offering.
- tmaly 11y agoI was curious about the name change in regards to when people hear your name for the first time. When people hear the name Gusto it does not immediately reveal what it is. When they hear something with the word payroll in it, they can take a guess that it has something to do with payroll. Did you consider this when making the change? I recently changed the name of my side project to make it more explicit because people just did not get the concept when I tried to explain it.
- edawerd 11y agoWe absolutely did consider this tradeoff and what I've learned during the rebranding process is that it's a tradeoff between short-term and long-term. Having a descriptive name has its advantages in getting your early customers, especially when you're just starting out. It's one of the reasons why we had "payroll" in our first name. But it's a double-edged sword and having a name that describes what you do also starts to limit you, as we saw. It's one the reasons all the world's greatest brands usually don't have a name that describes what they do -- it becomes more important to have a name that you can build a brand around.