Small businesses face unique challenges when it comes to managing payroll and benefits for employees. Founding a startup in 2013 to specifically address these needs, Gusto was created by three entrepreneurs who had each struggled with these complexities while running their own small firms. Over a decade later, Gusto continues focusing solely on helping the millions of small businesses across America that power the economy.
In a recent interview, Gusto CEO Josh Reeves explained that after initially bonding over their shared experiences with payroll pain points, the founders set out talking directly to customers to understand their needs. While based in Silicon Valley, Gusto was intentional about prioritizing “mainstream small business” from the start. Reeves noted there are more dentist offices in the U.S. than tech startups, emphasizing their target market.
Listening to customers led Gusto to expand beyond just payroll basics. Healthcare benefits were added according to customer demand. As the needs of small businesses evolved, Gusto helped navigate the transition to remote work during the pandemic. Now supporting over 300,000 customers, Gusto’s sophisticated yet simple platform automates burdensome tasks, saving clients time and money.
Rather than chasing larger clients or moving upmarket, Gusto remains dedicated to the 6.2 million businesses with under 500 employees in the U.S. – over half of which have five or fewer staff. As competition grows, Reeves says Gusto will continue broadening their products and services to better help small companies at every stage. With plenty of room left to grow into the fragmented small business market, Reeves sees Gusto only getting started on their mission after more than a decade of success.
