Hurdlr: Revolutionizing Financial Management for Freelancers and Small Businesses
Company profile
Company business details
Motivation to build the product
The founders were motivated by the need to simplify financial management for entrepreneurs and freelancers who often struggle with traditional accounting software. They recognized that these users needed a more accessible and integrated solution to manage their finances effectively.Problem that their product solves
Hurdlr addresses the problem of financial management for independent workers, freelancers, and solopreneurs who need to track income streams, expenses, and tax deductions in real-time. This is important for them as it helps them stay organized and understand their financial health without the complexity of traditional accounting software.Their unfair advantage
Hurdlr's unfair advantage lies in its seamless integration with various financial platforms and its focus on the specific needs of small business owners and freelancers, making financial management simpler and more accessible than traditional accounting solutions.Strategies
Idea Validation Stage
Identifying Market Needs Through Direct Feedback
In the early stages of developing Hurdlr, Raj conducted numerous phone interviews with entrepreneurs to understand their financial tracking needs. He discovered that solopreneurs had specific pain points that were not being addressed by existing solutions. This feedback guided the development of Hurdlr's features, ensuring that the product was tailored to meet the actual needs of its users.
Pre-Launch (Product Development & MVP)
Direct SMB Sales to Validate Product
In the early years of Hurdler, Raj Boser and his team focused on selling their accounting software directly to small businesses. This approach was necessary to gain valuable experience and insights into the needs of their target market. By engaging directly with end-users, they were able to refine their product based on real feedback, which ultimately benefited their later transition to an embedded software model. This direct engagement helped them understand the pain points of small businesses and shaped the development of their embedded accounting solutions.
Cold Calling for Market Research
Raj Bhaskar, before launching his software company VisualHOMES, engaged in extensive cold calling to gather insights from potential customers. He made thousands of calls to housing agencies, asking about their current systems, needs, and budgets. This direct approach allowed him to validate his business idea and understand the specific requirements of his target market, which ultimately shaped the development of his product.
Launch Stage
Transition to Embedded Software Model
After five years of direct sales, Raj pivoted Hurdler's business model to focus on providing embedded accounting solutions for other software platforms. This strategic shift was driven by the realization that many small business platforms needed integrated accounting features without the hassle of managing separate systems. By white-labeling their software, Hurdler allowed these platforms to offer accounting functionalities directly to their users, enhancing the overall user experience and creating a seamless integration. This move not only aligned with their original vision but also opened up new revenue streams.
Building Relationships Through Personal Connection
During a critical presentation to the DC Housing Authority, Raj emphasized his personal connection to the community, stating that he lived nearby and was genuinely invested in helping local citizens. This heartfelt approach resonated with the audience, leading to a successful contract award. Raj's strategy was to present not just as a vendor but as a community partner, which helped differentiate his company from competitors.
Learn more about Hurdlr
Profitable and Going Long With His 2nd SaaS Company After 13 Years – Raj Bhaskar
Sales tactics from a cold-calling machine - with Raj Bhaskar - Business Podcast for Startups
