Invest in Latvia: Whitepaper

B1.lt scale to Latvia (B1.lv): Whitepaper

 

Success scale to 1 more country


Latvia has mostly desktop-based softwares as Lithuania. Pricing model is old fashioned. Company teams work indepently from accounting person.

B1.lt allows teams to work together in 1 system. It saves time, allows integrations, simplify marketing, relate customers and this model is much more profitable in long term (doesn't require 1:1 installations and it much easier to support 1 versions instead of many).

Who We are

Filip — CEO adviser

Site.pro, CEO
B1.lt, CEO
ClientsDay.com, Founder
20 years in IT industry

Alex — CTO adviser

Site.pro, CTO
B1.lt, CTO
Startups Adviser
20 years in IT industry
 

Problem

  • 90% softwares are desktop based
  • Accounting Companies (AC) needs to work in the system with their customers
  • Teams work separately (general manager and the account person work in different systems)
  • Existing solutions are much more expensive

Whole Market Size:

70K SMBs, 2M populations

Potential Market:

70K x 30% = ~20K potential SMBs

Potential Revenue:

20K x €10 = €200K / month

 

Channels:

  • Direct sales
  • AC network power
  • Free Inovicing
  • Google SEO

Audience:

  • Accounting softwares (1:many)
  • Enterprises

Coverage:

  • Market PotentialPenetration

Know How

  • AC network power
  • 1 system for whole companies that growth ergonomically
  • Small self-costs
  • Already have many integrations with other systems

Technologies:

  • PHP, PostgreSQL
  • Inhouse development

Risks:

  • Process can go slower because of bad market situation

Investment Timeline:

  • 6 mon: €150K — launch MVP and start sales (lv, ru, en)
  • 6 mon: €150K — break-even
  • 6 mon: €100K — active marketing, backup
  • 6 mon: €100K — active marketing, backup
 

Revenue Projections:

  • 6 mon: €0
  • 6 mon: €15K/month
  • 6 mon: €20K/month
  • 6 mon: €30K/month