Finance-tracking app for your business | feedback requested
Hi all,
Please see [https://www.proance.app]. Is the messaging clear? What do you think about the text to videos ratio? Would you pay for this?
At this time, core functionalities have been integrated as well as Stripe integration, we're in track for the "last mile" now.
I'm looking for your feedback so I can understand what needs to be changed before going public with it.
Thanks to everyone!
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great
That sounds like you invented the accounting software?
I think you'd need comparison against accounting software, instead of spreadsheets, and also make damn good point why i'd bother double entering expenses in both accounting software and your software.
Hahaha that phrase is maybe too arrogant :D
Of course someone can use other accounting softwares, like freeagent. However a lot of these services are bloated with features and can have a steep learning curve.
Proance positions itself in a niche composed mainly by Startuppers with small/medium projects that need a simple and effective solution to track their revenues, expenses and get business analytics.
Another difference (not advantage, just difference) is that Proance is "only" a mobile app, while the majority of these services are online websites, and in some cases, a mobile app as an alternative.
Finally, we're comparing ourselves against spreadsheets because that's the most used tool by users in our target. If you are curious about this, I invite you to visit also our post on /r/startup: [https://www.reddit.com/r/startup/comments/e99p1m/financetracking_app_feedback_requested]
Does the "other" mean that your product actually IS accounting software?
If not, then your target segment is probably not startups (who require actual accounting for taxes and compliance etc) but pre-incorporation side projects, paid from own pocket.
In that pre-incorporation segment spreadsheet may very well be the most used competitor. But then your problem is that the 'side project' customer segment is frigging poor and ain't likely to pay for anything non-essential. Because pre-incorporation needs are simple, spreadsheets do the job adequately, are free and more flexible, hence your product is likely viewed as non-essential.
So... both the landing page and app actually look great, but i'd seriously think about market positioning.
Really thanks for the feedback!
You're right on us not being a competitor of accounting softwares, we're not even trying to enter into this market and as you said our target is made up of people with small businesses and side projects.
"the 'side project' customer segment is frigging poor and ain't likely to pay for anything non-essential": we agree with you on this. We're still figuring out which revenue model is best suited for our target, currently we have in mind 2 viable options:
Subscription based model made by plans: A free plan for side projects, then paid plans of > 10$/month for working businesses.
Freemium model: A free version with a good amount of functionalities, then paid features you can enable for small amounts. Let me make you an example:
I'm really curious what do you think about it! Let us know.
I think the problem is not the pricing model, but product positioning and target segment.
You are wedged between spreadsheets, accounting packages and analytics tools, and targeting customers who don't want to pay. Not a good place to be, sorry.
Looks really cool! How similar is it to https://baremetrics.com/? And what do you provide that is unique compared to baremetrics?
Thanks for the question! We love baremetrics and we think it's a really great product, we even tried using it but it was missing some features, which we included in Proance, namely:
Tracking both one time and subscription based payments (Baremetrics and other similar services work only for subscription based businesses)
Tracking expenses (In addition to stripe fees, things like hosting, facebook ads or even transportation tickets because we had a work trip)
Mobile app: the majority of services in this area work through a website, which can be handy when you're working in the office. But for us a mobile app works better, because it allows us to have quicker feedbacks and easier access to our data.
Proance however is not really trying to compete with Baremetrics: we are focusing more on small and medium businesses which need a central place that allows them to track all their revenues and expenses, and calculate some stats to understand how the business is doing.
Baremetrics, instead, is much stronger on stats, showing you things like churn rate and so on, which are out of scope for us; but weaker on the general side. It can be a great tool in your financial toolbox, but it cannot replace it.
Thank you for the reply! I'll check it out!
informative one