Ok this service being rolled out by Supreme Ventures Business Hub is very exciting for many reasons, which I will go into below.

First off, @drachung and team, well done. Very well done.

This. Could. Be. A. Game. Changer!!

//Thread https://twitter.com/kalilahrey/status/1283914380481003520

Let me start by saying, as an entrepreneur, the way this is packaged and described is a dream come true.

I have been looking for a solution like this for YEARS.

In fact, I have tried to cajole my attorney and accountant to role out packages like these — which they have..

but the scope of their packages are small and by necessity the fees are still too expensive for a small business.

So I am truly hoping that due to the size of SVL, you guys can use SVL to subsidize the cost significantly so it is very affordable for the average MSME/SME.

As an entrepreneur that is trying to do things “above board”, there are so many points of friction with everything from the basic annual filings to understanding and dealing with the labour laws to retail management (in my case) to marketing, to accounting, etc.

If all of those things were removed from me, and I know that my back office is as robust (and flexible as needed) as one that SVL would use, it would free up a lot of my mental (and internal) resources so I can focus on what matters...growth.

I probably wouldn’t outsource my marketing and all retail management, but certainly some of the other more mundane things.

The key thing here though is confidentiality (which I assume would be a priority to SVL given the potential liabilities associated with any breaches) &...

also cost, especially for smaller companies.

I love the idea that I can pick & choose services.

I hate that I have to engage via email or phone, I would rather just check out the website but I understand that you are testing the market and will likely roll that out later.

You need a website with a simple application form though, to remove friction in the registration process.

There is something to be said about offering me a productivity enhancing service, yet I still have to use old-fashioned registration methods.

Either way, I like it.

So I am going to look into this and see if it can help me and I truly hope it can. If it does, I will be recommending it to every SME I am affiliated with because I know this is a major issue.

But even outside of the potential for me as a customer, there is a broader aspect.

For starters, like many other companies SVL is likely hit significantly as a result of COVID and stay in place orders, so they have been forced to look at every part of their operation.

This result is proof that they have done so.

What they are doing is turning a cost centre into a profit centre.

This is exactly what Amazon did with its internet infrastructure for its website. It realize that it built up all of this infrastructure to service its main website on a world class level...

but it was just an expense. So they took some time and created Amazon Web Services, which basically allowed any person or company (including startups that didn’t even have a product much less revenue) to rent access to their infrastructure on an hourly basis.

This one service, overnight, changed the world. No longer did you need hundreds of thousands or millions of dollars to buy and host your own servers in a networking facility, for a few hundred dollars per month (or even less at very small levels), you could build,

and run your tech startup.

In fact, this service was so well done and so robust that a little company called Netflix built their entire streaming service on it. They are AWS’s largest customer still today.

AWS has since grown to be the main profit centre within a notoriously

low margin business.

So Amazon turned a cost centre into both a growth engine and profit centre for the company.

SVL could also be doing that here.

Another broader impact of Amazon’s move is that it caused a surge in startups being started.

Since then we have had Y Combinator (which is like a factory for startups, kinda-ish not really), Dropbox, Reddit, Airbnb, Instacart, all of which use AWS in some way or fashion.

There is even an entire industry of companies that have built products and services on top of AWS..

for other companies (Heroku, etc.) — so a middle layer of companies that provide value that never existed before AWS.

So in SVL’s case, if they play their cards right not only could they make life a lot easier for existing companies but they could spur a whole new industry.

This could also force existing professional services to step up their game and provide more value.

Why would I hire an accountant and a lawyer for basic services when SVL bundles it into the overall package for me at a fraction of the price.

They can then focus on more sophisticated, value-added services that likely will make them more money anyway.

So for them, they have to adapt.

Also, it could make starting and building companies much easier.

Another side effect is that every customer that uses it (especially if you use a lot of paper) would receive an immediate productivity bump.

So if we see mass market adoption, it could increase JA’s productivity.

Even better than that, as they get more customers and they improve their own backend services, those productivity gains transfer throughout all of their customers and the entire economy.

But even more so on a macro level, as this proves successful (I hope it does)...

chances are other large companies that have strong back offices will repackage their own back office services and begin offering it to different sectors of the economy too.

That competition will also accelerate productivity generally.

Can you tell I am genuinely excited about the prospects this could have on the economy.

Imagine if every listed company has best in class backoffice and results are always published on time (one can dream).

Ok back to reality.

All in all, I hope this lives up to my expectations, even though I know there will be bumps in the road.

All I ask of you @drachung is to listen to your customers and adapt. Think long term.

This has the potential to fundamentally change entrepreneurship in JA.

Thanks for doing this interview @kalilahrey and thanks for taking the risk and even trying it @drachung.

I am rooting for you and I wish you guys nothing but success.