GE 303: How Wave Co-Founder Kirk Simpson Plans to Make Invoicing “Invisible” (podcast)

Hey everyone! In today’s episode, I share the mic with Kirk Simpson, CEO and Co-Founder of Wave, a service that offers free invoice, accounting, credit card processing, and payroll software.

Tune in to hear how Wave plans to eliminate friction for small businesses, how the business saw a 26% conversion rate on their landing pages early on, and what Kirk uses to maintain peace throughout his extremely busy day.

Time-Stamped Show Notes:

• [00:47] Before we jump into today’s interview, please rate, review, and subscribe to the Growth Everywhere Podcast!
• [02:00] Kirk sought to make it easier for business owners to do the things that get in the way of just doing what they love.
• [04:07] It wasn’t until his wife was pregnant and he was in his late thirties, that Kirk finally saw some measurable success.
• [06:03] Wave was heavily influenced by Mint.
• [06:20] Mint made it easier for the masses to gain insight into their own finances.
• [06:45] Kirk and his team thought that small businesses needed a service similar to Mint.
• [08:35] The amount of scale to turn Wave into a viable business seemed large and daunting.
• [10:10] Wave says their sweet spots are: 0-9 employees…
• [10:22] $300,000-$1 million in revenue…
• [10:31] and service-based business.
• [12:11] Wave wants to make invoicing “invisible” over time. They want to create a frictionless service for small business owners.
• [12:33] More and more, they will layer on other products to bring you closer to that goal.
• [14:20] On a monthly basis, they have hundreds of thousands of active users on the Wave platform.
• [15:15] In April 2011, the Wave team saw the development of the Google Chrome Marketplace.
• [15:40] One team member found a way to integrate with the GCM.
• [16:02] Wave saw an immediate increase in customers.
• [16:26] Kirk believes most of his success is due to luck.
• [17:55] When a business gets their first customer, they have an immediate need for invoicing.
• [18:35] Wave had a 26% conversion rate with one of their landing pages early on.
• [18:51] Kirk says his team played the long game with SEO.
• [21:21] Kirk uses the Headspace app to give him some peace during the day.
• [21:55] Kirk recommends the books Lead by Greatness and Grit.
• [23:57] One of the benefits of being an older entrepreneur is having a wide network.
• [24:22] His wide network enabled Kirk to find the best career coach/mentor.

Resources from the interview:

• Wave
• Kirk on Twitter
• Mint
• Headspace
• Must-read books:
  • Lead by Greatness
  • Grit

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
• Did you enjoy this episode? If so, leave a short review here
• Subscribe to Growth Everywhere on iTunes
• Get the non-iTunes RSS Feed

Connect With Eric Siu:

• Growth Everywhere
• Single Grain
• Eric Siu on Twitter