Luke Sophinos

Yeah, I don't care if you, you know, take a percent of the booking because it's going to be on top of what I'm getting. So no money out of my pocket. You create this cool digital experience for the customer. Like I don't have to send somebody out until they pay me. Awesome. So then they go and they launch a CRM. And so now they're moving down the entire life cycle of roofing companies.

Yeah, I don't care if you, you know, take a percent of the booking because it's going to be on top of what I'm getting. So no money out of my pocket. You create this cool digital experience for the customer. Like I don't have to send somebody out until they pay me. Awesome. So then they go and they launch a CRM. And so now they're moving down the entire life cycle of roofing companies.

Yeah, I don't care if you, you know, take a percent of the booking because it's going to be on top of what I'm getting. So no money out of my pocket. You create this cool digital experience for the customer. Like I don't have to send somebody out until they pay me. Awesome. So then they go and they launch a CRM. And so now they're moving down the entire life cycle of roofing companies.

I bet you next, they're gonna build like the ERP, right? Like they'll get to the all-in-one. They didn't start with the all-in-one, but they built this wedge product that enabled them to, it was a reputation prover. It was easy to implement, right? And it was easy to get in the door. It was a marketing led customer acquisition approach.

I bet you next, they're gonna build like the ERP, right? Like they'll get to the all-in-one. They didn't start with the all-in-one, but they built this wedge product that enabled them to, it was a reputation prover. It was easy to implement, right? And it was easy to get in the door. It was a marketing led customer acquisition approach.

I bet you next, they're gonna build like the ERP, right? Like they'll get to the all-in-one. They didn't start with the all-in-one, but they built this wedge product that enabled them to, it was a reputation prover. It was easy to implement, right? And it was easy to get in the door. It was a marketing led customer acquisition approach.

So you know what's easier, Greg, than acquiring a net new customer? Acquiring an existing customer. right? So it's so much easier for me to sell something to somebody that already uses my product than it is for me to sell someone who's never used anything. So they're like, yeah, those guys had a great proposal tool. Like, let me look at their CRM. Maybe we want to move off of ours.

So you know what's easier, Greg, than acquiring a net new customer? Acquiring an existing customer. right? So it's so much easier for me to sell something to somebody that already uses my product than it is for me to sell someone who's never used anything. So they're like, yeah, those guys had a great proposal tool. Like, let me look at their CRM. Maybe we want to move off of ours.

So you know what's easier, Greg, than acquiring a net new customer? Acquiring an existing customer. right? So it's so much easier for me to sell something to somebody that already uses my product than it is for me to sell someone who's never used anything. So they're like, yeah, those guys had a great proposal tool. Like, let me look at their CRM. Maybe we want to move off of ours.

And now I'm willing to pay like a SaaS based kind of monthly fee for that CRM, as opposed to this transaction kind of business model on the wedge product. That was like a beautiful, and I'm, you know, if you ever have the founders on, I'm sure I got some of that wrong. That's like, what I've heard through the ether, but that's like the perfect wedge into software, uh, you know, CRM.

And now I'm willing to pay like a SaaS based kind of monthly fee for that CRM, as opposed to this transaction kind of business model on the wedge product. That was like a beautiful, and I'm, you know, if you ever have the founders on, I'm sure I got some of that wrong. That's like, what I've heard through the ether, but that's like the perfect wedge into software, uh, you know, CRM.

And now I'm willing to pay like a SaaS based kind of monthly fee for that CRM, as opposed to this transaction kind of business model on the wedge product. That was like a beautiful, and I'm, you know, if you ever have the founders on, I'm sure I got some of that wrong. That's like, what I've heard through the ether, but that's like the perfect wedge into software, uh, you know, CRM.

And I'm sure the next step for them is like all in one.

And I'm sure the next step for them is like all in one.

And I'm sure the next step for them is like all in one.

Absolutely. The other thing I'd add to it too, that's really important in vertical SaaS is if you can build a wedge product before or after the transaction, you can eventually own the transaction, right? And so let's talk about that for a second. Like adding payments into your vertical SaaS solution is the way to like build massive, massive companies in vertical software.

Absolutely. The other thing I'd add to it too, that's really important in vertical SaaS is if you can build a wedge product before or after the transaction, you can eventually own the transaction, right? And so let's talk about that for a second. Like adding payments into your vertical SaaS solution is the way to like build massive, massive companies in vertical software.

Absolutely. The other thing I'd add to it too, that's really important in vertical SaaS is if you can build a wedge product before or after the transaction, you can eventually own the transaction, right? And so let's talk about that for a second. Like adding payments into your vertical SaaS solution is the way to like build massive, massive companies in vertical software.

And so every single big industry specific software company owns the transaction. All right, so let's unpack that a little bit. let's say toast, remember we've talked about toast restaurant software, right? If they go out and they say, Hey investors, we're going to build an all in one software for restaurants. There's, um, I'm, I'm using rough numbers.

And so every single big industry specific software company owns the transaction. All right, so let's unpack that a little bit. let's say toast, remember we've talked about toast restaurant software, right? If they go out and they say, Hey investors, we're going to build an all in one software for restaurants. There's, um, I'm, I'm using rough numbers.