Luke Sophinos

How much of it is being spent on people that could be automated with software, right? And in what specific functions? How much of it is being spent on software? All right, what software are they spending money on and how much are they spending on it? And what is it actually delivering or doing for them? It's one thing what they're saying it's doing, it's another what it's actually doing, right?

How much of it is being spent on people that could be automated with software, right? And in what specific functions? How much of it is being spent on software? All right, what software are they spending money on and how much are they spending on it? And what is it actually delivering or doing for them? It's one thing what they're saying it's doing, it's another what it's actually doing, right?

How much of it is being spent on people that could be automated with software, right? And in what specific functions? How much of it is being spent on software? All right, what software are they spending money on and how much are they spending on it? And what is it actually delivering or doing for them? It's one thing what they're saying it's doing, it's another what it's actually doing, right?

But a P&L will tell you a lot and you can start to really understand where existing expenses are going and how to create solutions that support the challenging pieces on that P&L.

But a P&L will tell you a lot and you can start to really understand where existing expenses are going and how to create solutions that support the challenging pieces on that P&L.

But a P&L will tell you a lot and you can start to really understand where existing expenses are going and how to create solutions that support the challenging pieces on that P&L.

Yep, yep, absolutely. So outside of the following the money, the other thing I like to do is I like to spend a lot of time looking at... the competition and what, when I say competition, we don't even know yet what we're building, right? We've talked about a few steps here, but we still don't even know what we're building. We're not supposed to even be idea focused, right? It's science, not art.

Yep, yep, absolutely. So outside of the following the money, the other thing I like to do is I like to spend a lot of time looking at... the competition and what, when I say competition, we don't even know yet what we're building, right? We've talked about a few steps here, but we still don't even know what we're building. We're not supposed to even be idea focused, right? It's science, not art.

Yep, yep, absolutely. So outside of the following the money, the other thing I like to do is I like to spend a lot of time looking at... the competition and what, when I say competition, we don't even know yet what we're building, right? We've talked about a few steps here, but we still don't even know what we're building. We're not supposed to even be idea focused, right? It's science, not art.

So the next thing I like to do is say, okay, what are the existing software solutions looking like in this market? There's typically a couple of things that happen when you go deep dive on one industry. there's either massive like legacy providers that are trying to do and probably are doing pretty much everything A to Z, right?

So the next thing I like to do is say, okay, what are the existing software solutions looking like in this market? There's typically a couple of things that happen when you go deep dive on one industry. there's either massive like legacy providers that are trying to do and probably are doing pretty much everything A to Z, right?

So the next thing I like to do is say, okay, what are the existing software solutions looking like in this market? There's typically a couple of things that happen when you go deep dive on one industry. there's either massive like legacy providers that are trying to do and probably are doing pretty much everything A to Z, right?

So if I go back to like the trade school example, there's probably like an ERP that's 30 years old that's doing all of this, right? So that will come up in some examples. Another thing when you're kind of studying the software competition, you'll see is they're kind of pulling together a bunch of horizontal software solutions, right? So non-industry specific software.

So if I go back to like the trade school example, there's probably like an ERP that's 30 years old that's doing all of this, right? So that will come up in some examples. Another thing when you're kind of studying the software competition, you'll see is they're kind of pulling together a bunch of horizontal software solutions, right? So non-industry specific software.

So if I go back to like the trade school example, there's probably like an ERP that's 30 years old that's doing all of this, right? So that will come up in some examples. Another thing when you're kind of studying the software competition, you'll see is they're kind of pulling together a bunch of horizontal software solutions, right? So non-industry specific software.

So they're pulling together a CRM that's built for any type of business. They're pulling together a source of truth or source of record or ERP that's built for any type of business. They're stitching together Slack and Gmail or Zoho or something. And that's, I like those opportunities because it's super fragmented and they're dying for an all in one.

So they're pulling together a CRM that's built for any type of business. They're pulling together a source of truth or source of record or ERP that's built for any type of business. They're stitching together Slack and Gmail or Zoho or something. And that's, I like those opportunities because it's super fragmented and they're dying for an all in one.

So they're pulling together a CRM that's built for any type of business. They're pulling together a source of truth or source of record or ERP that's built for any type of business. They're stitching together Slack and Gmail or Zoho or something. And that's, I like those opportunities because it's super fragmented and they're dying for an all in one.

You typically see one or the other when you dig into these industries. The third thing you see, and I promise you, and people fight me on this, but I promise you, you see paper processes still. And it's 2024, I know you're gonna be like, Luke, you're out of your mind, I don't believe you. We still see at trade schools a bunch of paper processes in some of these areas.

You typically see one or the other when you dig into these industries. The third thing you see, and I promise you, and people fight me on this, but I promise you, you see paper processes still. And it's 2024, I know you're gonna be like, Luke, you're out of your mind, I don't believe you. We still see at trade schools a bunch of paper processes in some of these areas.