Written by 14:40 Tech News Views: [tptn_views]

6 Key Takeaways from The Attempt to Revolutionise Quickbooks

Whether it might be out of necessity in the face of digital transformation or just the result of an ambitious entrepreneurial spirit, there’s no denying that startups continually look for ways to disrupt long-established markets. One such audacious bet is the venture that sought to replace Quickbooks. It certainly raised a few eyebrows, and chuckles, in the world of finance and tech alike. While the story is itself interesting, we’re going to unpack the street wisdom that has flowed from this journey.

1. Challenge the Status Quo

Even established services like Quickbooks can be improved upon. This startup proved that with an attitude of innovation, no sector is beyond reevaluation and evolution.

2. Believability Is Significant

Given the dominance of Quickbooks in the market, investors were initially sceptical. It proves how vital believability is for an ambitious startup to secure investment. Possessing a convincing, coherent vision can turn laughter into serious consideration.

3. Break the Mold

The task at hand wasn’t merely to create a replica of Quickbooks but to reinvent it altogether. By maintaining their dynamics open to reassembly and reorganisation, the startup marked their uniqueness.

4. Gather and Use Feedback Wisely

The skepticism from investors served as valuable feedback. The lesson? Use criticism constructively to refine your plans and prove the naysayers wrong.

5. Persistence Pays Off

Despite the initial dismissive responses, the startup stuck to its guns. An idea initially met with disbelief can eventually evolve into a groundbreaking disruptor if the belief in its potential warrants the pursuit.

6. Every Industry Can Be Disrupted

Finally, the key takeaway from this audacious approach is that ‘disruption’ isn’t exclusive to nascent technologies. Even the apparently ‘settled’ industries such as accounting software can be revolutionized.

The intention to replace Quickbooks by a startup might have initially been received with giggles, but their determination and refusal to be constrained by conventions offers valuable insight. As we move further into an age defined by digital transformation, no sector, no matter how ingrained, is immune to fresh and disruptive ideas.

Credit: BBC. TechCrunch, Reuters