What will FLIT offer?
In the Weeds - Building SaaS is more than just building software
Between March and July 2024, I spoke with maybe 50 stakeholders - financial gurus, fintech entrepreneurs, business leaders, change and thought leaders. I sought to understand their perspectives on female finance, and what I perceived as a shortfall in financial guidance particularly experienced by women. By July, I believed I had captured the gaps, and could progress with designing an AI-backed software solution.
Now comes the stage I call 'in the weeds'. See this LinkedIn post (opens in a new window) by Hijinio Reynoso. He argues that unless we are willing to engage with the detail, we deliver (or receive) substandard products, which do not meet customer needs.
I’ve described this stage over the past few months as being ‘in the weeds’ with FLIT
It sounds bad, but it's a good thing. Thanks to the generosity of key stakeholders, I’ve got access to top quality mentoring and business supports. These deconstruct the startup business model into individual components - problem research, problem-solution fit, market size, accessible market, timing of solution, buyer motivation and willingess to act, competitors, market forces, branding, marketing activities, go-to-market strategies, business supports, funding, business finance, legal & incorporation, sales execution, business processes, digitisation processes, AI as a supporting tool. Each aspect of the business model is examined and peer-reviewed to reduce risk (as apparently 90% of startups do not survive). This work is regarded as a pre-requisite to delivering software to customers, and it's where I'll continue to spend my time for the remainder of 2024. Meanwhile we continue UX and software development in the background ready for early adopter testing Q1 2025, with focus groups and workshops scheduled from January 2025.
| Programme/ Sponsor | Key components | Benefit (FLIT) |
|---|---|---|
| TechStars | Official name 'Techstars Weekend Startup Women Dublin' | Top-level business mentoring delivered intensively over 2.5 days. Team of 4 built initial business model. Pitch practice |
| LEO (Carlow) Mentoring and Masterclasses | Future Focus Masterclasses Caitlin O'Connor (Marketing) Brendan Byrne (Financial Entreprenership) Terry Harmer (Sales) | Really useful, personalised advice from those who live in the SME world and understand startup challenges |
| Enterprise Ireland New Frontiers | Phase 1 TUD (Grangegorman) with Diane Hurley and Alan Carey - Bridgewater Management Consulting | Learning by 'talking it out'. Pitch practice |
| Rethink Ireland | Social Entrepreneur Training Programme & Accelerator (ongoing) | How to structure an Impact business so it makes money and survives. Supports available within the Rethink network. Pitch practice |
| Furthr | MasterClass Series (ongoing) | Practicalities across 6 dimensions for start-ups and scale-ups |
| Hackathons | Code Institute - PowerUP Point; Budget Busters; InfinityHub; TechIreland National AI Hackathon - HomeIE; Google Techmakers AI; AWS GenAI Loft | Opportunities to build UX and problem-solving components. Pitch practice |
| TechFoundHER / Innovation Labs | InnovationLABS Programme : Bridging business and tech | Product vision and roadmap; practical use of GenAI; low-code and no-code approaches to clickable wireframes. |
| AwakenAngels / AwakenHub, InvestHER | Founder workshops and Peer supports | Fundraising, datarooms, co-founder agreements, legal and financial mentoring. Pitch practice |
| Institute of Banking | Qualified Financial Advisor Exams: Regulation, Pensions, Investments, Loans, Life Assurance, Financial Planning | Authorative content |