One would be what's called the 'freelancer economy'. It's expected that 50 percent of the US workforce will be made up of freelancers by 2020, so it's a massively growing market that we think has a strong need for simple software solutions to help them to run their businesses and projects efficiently. We've already started targeting this market by launching our free-to-use Freelancer edition late last year, and we're planning to add some further paid features specifically focused on that group.
The other big opportunity we're focusing on this year is the growing desire of small businesses to get better visibility into how the business is performing. We see us being able to help them achieve this by bringing all the important data into one, easily accessible place.
On the other hand, what's a constraint you face when looking to grow the business, particularly as a startup where resourcing can be so tight?
As a startup, cash is obviously the biggest constraint. It means we have less time to achieve what we want to achieve so we can keep growing, and fewer people to do it with. That means focus and controlled experimentation are really important for success, along with a little bit of 'crazy' too. We have to be crazy enough to say 'hey let's give this a go', focussed enough to get whatever it is out there quickly, and controlled enough to measure its success and rinse/repeat until we find things that work.
What's the biggest lesson you've learnt as a startup owner about managing business growth?
It's understanding there's no silver bullet in the quest for growth. I think this ties in with the 'controlled experimentation' idea, because you can read every 'growth hacking' book or blog, understand every metric, reverse engineer every startup, but you still need to figure out your own path. Every business is different and every market/customer is different as well, so while you take onboard everything you read and what your mentors and advisors tell you, you can't leave any stone unturned on the quest for growth - and you also need measure everything you do.