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Therefore, we feel confident in delivering a best-in-class service to customers who meet any of the following criteria: * Received an equity investment of a
by UkrainianJew 4y ago
Therefore, we feel confident in delivering a best-in-class service to customers who meet any of the following criteria:
* Received an equity investment of any amount (accelerator, angel, VC or web3 token);
* More than $1 million a year in revenue;
* More than 50 employees;
* More than $500k in cash;
This sounds like a panic mode statement from someone who never even bothered to do product/market/pricing research. If your service generates losses for 1-man freelancing shop customers, price it accordingly.
Make tiers: unsupported fully automated service => service with human support per email => service with phone support and customizations.
Price it so that the the first tier is somewhere near the breakeven point, and the next ones give you increased margins, since bigger customers tend to have larger budgets. Offer discounts based on the number of users/transaction volume.
This way you won't need to be unprofessional and pick which customers deserve the honor of using your services, as your pricing figures it out for you with no drama!
The only reason for this kind of announcement I see is that the company acquired lots of low-revenue customers at a loss hoping to fudge the growth numbers. Well, shame on them and shame on the investors that didn't see through the BS.
- jefftk 4y agoTheir answer to that is: The answer is more complicated than costs – the needs of smaller businesses are fundamentally different. To serve smaller businesses well, we need a fully automated, one-size-fits-all product experience that doesn’t fully exist today. On the other hand, startups and scaled companies need a higher-touch experience with Brex tailored to the individual needs of their organizations. Seems pretty reasonable to me?
- jhardy54 4y agoI don’t think I understand, can you help make it click? My thinking: They don’t need to build a fully automated one-size-fits-all product experience, they just need to charge for the cost of their existing “higher-touch experience”. Isn’t that exactly as complicated as “costs”?
- 3np 4y agoI imagine it would require scaling the organization in a direction that is not aligned with their current goals and strategy.
- xmonkee 4y ago>They don’t need to build a fully automated one-size-fits-all product experience It comes down to number of customers. At some point, even if they are paying, you need the scale and you will need to channel those fees towards putting in place the kind of automation that they are not planning to build.
- az226 4y agoRaising funds through a web3 token to keep our Brex account. Starting price 1 cent. Please help! https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/56351872183243938646652853695743141774779739573019482867879804729492382941185 https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac...