Ask a few questions, show how much tax they could save, then suggest a plan

Pat WallsOkay, so let's talk about the main reason why I wanted to bring you on this channel is that you built a boring or unsexy business in a boring and unsexy niche: taxation, taxes. So let's talk about this boring business. Why do you think that this business specifically, this boring business, worked and became a million-dollar business?

BoI think it worked for four reasons. First, low competition for real demand. In unsexy markets, you often have fewer talented founders chasing very real problems, and the ratio of opportunity to competition is way better. Second, extremely high pain: taxes, compliance, domiciles. People don't want to deal with them. They just want to hire somebody, to pay somebody just to forget about this, which is exactly why they are willing to pay. Third, the value is concrete and quantifiable. In a lot of startup categories, you are selling a brighter future or some vague promise. In taxes, you can say, "Here is the likely financial benefit, and here is what our service costs." That makes the customer decision rational and straightforward, so you need to sell less. Fourth, it matched our strengths as a team. So this wasn't just an unsexy market with opportunity, it was a market where our strengths were unusually complementary. That's why I think it worked.

Pat WallsOkay, cool. I mean, I really liked number three that you said there, which is basically like, when you go to a customer, you say, "Hey, here is the exact amount of money you're going to save if you use our service, and here's how much our service costs." If the amount they're going to save is more than what the service costs, it's a no-brainer purchase. It's a lot easier to sell something like that than it is to sell some AI app that, as you …

Pat Walls… easily now. You don't need a developer team to build some crazy app. You kind of turn process, some boring process like something related to tax or immigration into software that people can use. And this software can make a bunch of money like your business does, almost $2 million a year. Could you just show me an example of what that software looks like? Like what does your app actually look like? How hard is it to build something like this?

BoSo at the beginning of our product, we just ask a lot of questions about some qualifying questions. And remember, I told you about transactional value. So we even show potentially how much you can save. And then, in the end, we show different plans, what is more suitable for you. And most of the our customers done with online part of the process maybe in less than one in an hour.

Pat WallsCool, well, thanks for showing that. I'm sure people watching this are wondering, "Okay, why are we letting him advertise his product on here?" That's not the goal of this. My goal was to see how simple this software can be to help you build it. And I really like the onboarding flow that you did where you show the potential tax savings. That probably convinces people to buy, that's super cool. On this note, what's the tech stack behind this? How …