Intuit Partner Platform team blog

Startups and the Cloud - Video 3 (of 5) - Intuit Founder, Scott Cook Q&A

In June Intuit hosted the "Startups and the Cloud" event bringing together industry experts and successful SaaS startups to discuss a range of issues startups must consider to build a successful business and get an idea to market as quickly as possible.

At the event we were joined by Scott Cook, co-founder of Intuit Inc. in 1983 and now serves as the chairman of the Executive Committee. Scott was interviewed by Bill Lucchini (VP of the Intuit’s PaaS Group discussing how cloud computing can foster innovation and how an intense focus on customer needs enables businesses to deliver successful products.

This was also the day that Microsoft announced its plans to stop selling Microsoft Money. As this article puts it:

“The defeat of Microsoft Money at the hands of Intuit's Quicken marks a rare chapter in the annals of software history.

Intuit is one of the few companies to take Microsoft head-on on its home turf--packaged software--and come out on top. Even more notably, Intuit has managed to do it several times, with Quicken of course, but also with QuickBooks and TurboTax.”

It was a special day for Scott and Intuit, and we were very fortunate to have him at the event in person to share his perspective not only on that monumental battle but also few stories about Intuit's early days as a startup, how he sees opportunities for startups in today's economic climate, the importance on solving real customer problems, his excitement around the Intuit Partner Platform (IPP) and the world of SaaS.

More videos from the event:

• Video 1: Welcome, by Bill Lucchini, VP and GM, Platform as a Service Group, Intuit (@wapl).
• Video 2: State of cloud computing and the market opportunity” Vishy Venugopalan (@midtownninja) 

We’ll be publishing the rest of the videos (5 in total) over the next week. Enjoy!

Startups and the Cloud - Video 2 (of 5): State of cloud computing and the market opportunity

In June Intuit hosted the "Startups and the Cloud" event bringing together industry experts and successful SaaS startups to discuss a range of issues startups must consider to build a successful business and get an idea to market as quickly as possible.

Below is the second video (2 of 5): “State of cloud computing and the market opportunity” Vishy Venugopalan (@midtownninja) an analyst at Longworth Venture Partners. Prior to Longworth, Vishy was at The 451 Group, a enterprise IT research firm, where he provided research insights to technology companies and investors on enterprise software market segments.

In this talk, Vishy set the scene for the discussions ahead, describing the cloud computing market and the opportunities as he sees them.

Startups and the Cloud - Video 2 (of 5)

“State of cloud computing and the market opportunity”

We’ll be publishing the rest of the videos (5 in total) over the next couple weeks. You can check out the first video here.

Startups and the Cloud - Video 1 (of 5): Welcome

The choices startup Software as a Service (SaaS) providers have in this new age of “Cloud Computing” can be overwhelming, confusing and risky.

In June Intuit hosted the "Startups and the Cloud" event bringing together industry experts and successful SaaS startups to discuss a range of issues startups must consider to build a successful business and get an idea to market as quickly as possible.

At the event, we were joined by leading VCs and startups who shared their views and experiences about how to navigate the cloud provider space, as well as Intuit’s co-founder Scott Cook who discussed how cloud computing can foster innovation and how an intense focus on customer needs enables businesses to deliver successful products.

It was a successful event, with good attendance and some great content that emerged during the day. We also had a filming crew in attendance who recorded each of the main sessions. Over the next few days we’ll be publishing the recorded sessions (five in all).

Below is the first of the sessions – the event Welcome and introduction by Bill Lucchini, VP and GM, Platform as a Service Group, Intuit. Enjoy!

Startups and the Cloud - Video 1 (of 5) - Welcome

10 Great Things I Heard at the Startups and the Cloud event

Last Thursday Intuit hosted an event titled Startups and the Cloud focused on the changing nature of starting and succeeding at building a technology business given all of the new tools and platforms that are available. I was honored to host such an awesome event with 200+ people packed into Bentley’s Adamian Hall. It was a great group all assembled to hear from Venture Capitalists, Intuit’s Scott Cook, and startup CEOs. We’ll be sharing some of the videos from the event once we’ve had time to edit them down.

At the end of the event (or at least the part before the cocktails) I gave a closing where I recapped ten great things I heard. Several people came up to me afterward to request that I publish the list… so, here it is (in the order I heard them during the day):

• Vishy Venugopalan from Longworth Ventures set a great baseline for the day with this overview of cloud computing.

• Scott Cook shared some great stories about the early days of Intuit from failed ads and trouble meeting payroll to the breakthrough insights that helped Quicken take off… but my favorite was when someone asked him how he had the courage to quit his job and try to start Intuit. His answer: his boss at Bain told him that they had hit a slow patch and his job wasn’t very secure. So relevant in today’s economy.

• Shawn Broderick from TechStars hammered home the importance of relentless execution in building an early stage startup. Gone are the days when you get a few million in funding based on a PowerPoint and you can take your time. Now, it’s all about execution.

• Jeffrey Bier from NorthBridge talked about “Capital to QED”. NorthBridge looks for how much money it will take to find out if the entrepreneur really has identified a big business opportunity. This is exactly how we think about funding new product initiatives at Intuit.

• Jeffrey also talked about one benefit of cloud computing is that entrepreneurs (and their investors) get to put 100% of their dollars towards solving the customer problem where as in the past it was maybe only 50% or less because of the need to build out infrastructure.

• The VC/Investor panel got a question on what they look for in an entrepreneur and they all chipped in to create this list:
  • Passion for their idea. Everyone highlighted this.
  • A desire to change the world.
  • An ability to set their ego aside and self-aware enough to realize where you need help and that someday you may even need to hand over leadership of the company.
  • Strong domain knowledge. Great quote: “I’ve spent my whole life getting ready to solve this problem/build this business”.
  • Unfair advantage: Does the entrepreneur bring something to the table that will be an ongoing competitive advantage… (I’d like to think that partnering with Intuit via the Intuit Partner Platform is step one of gaining competitive advantage in the small business market)
  • Street Smart: Has been around enough to know how things really get done.
  • Driven
  • Can sell their idea and vision unbelievably well.

• From the CEO panel, Software as a Service (SaaS) includes the word “service” and in the small business market that’s critical. Don’t assume you can put the product out there and it will take off on its own. SMB’s need the human touch.

• Cloud computing and one of its forms, Platform as a Service (PaaS) helps the CEO’s focus on being good at their unique competitive advantage vs. hosting/billing/login… all the stuff that everyone else does too.

• Great discussion on software pricing with a debate about everything going to subscription/pay for what you use vs. perpetual license vs. other models. The best point was that customers will drive the answer to this market by market – not vendors.

Overall it was a great session and the response from the attendees was overwhelmingly positive. Keep an eye out for videos of the event to be posted soon. Thanks to those that joined!

Here are a few blog posts inspired by the event:

• Awesome post by Laurie McCabe of Hurwitz and Associates: Intuit Partner Platform: Changing the Rules of Cloud Platforms with Federated Applications
• Jeff Kaplan of Think Strategies: Why Intuit Can Be a Major SaaS Player
• John Bennett: What Cloud Computing Offers Startups

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Bill Lucchini
VP, Platform as a Service Group, Intuit