Tyler Barron, CRO at Encapture joins Ryan in this episode. In this part 1 of 2 episodes, Tyler shares his journey transitioning an AI company from consulting to SaaS, focusing on FinTech solutions. They explore the challenges of demonstrating ROI in AI, adapting to market changes, and the importance of customer-driven product development.
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KEY TAKEAWAYS
- Transitioning from consulting to SaaS requires repositioning the company, developing repeatable processes, and building the right team.
- Market listening is crucial for product development; focus on what customers are willing to spend money on, especially during economic shifts.
- Demonstrating AI ROI involves quantifying problems, focusing on practical use cases, and tying solutions to tangible business outcomes.
- Simplicity in execution and low-friction processes are key to the successful implementation of new systems and technologies.
- Executive level sponsorship, particularly from operations leaders with P&L responsibility, is vital for AI adoption in organizations.
- AI solutions don’t need to be perfect. Even 50% improvements can significantly move the needle financially for businesses.
- Selling AI solutions involves working on a “big math problem” with customers, making it an intellectually engaging and partnership driven process.
- AI implementation often faces resistance due to a lack of comparison points; persistence and demonstrating value over time are crucial for success.
BEST MOMENTS
“We saw a lot of companies out there in our space, like really, really getting to a lot of pain around that. A lot of our peers in FinTech have had a tough time.”
“Why does it have to be 99 percent accurate if 50 percent actually moves the needle financially.”
“The biggest thing with AI is that your unit economics improve over time one, because the AI gets smarter, but to your cost basis on a lot of these tasks can ultimately stay flat and you can pick up the efficiency.”
“Look, I’m not an AI expert, so I think I can probably give some very pragmatic answers to what I, what I see and hear, which… there’s a lot of buzz and there’s a lot of over promising around just AI in general, but there’s also some very good quantifiable common sense use cases.”
Ryan Staley
Founder and CEO
Whale Boss
Saas, Saas growth, Scale, Business Growth, B2b Saas, Saas Sales, Enterprise Saas, Business growth strategy, founder, ceo: https://www.whalesellingsystem.com/closingsecrets
