Strategies: Intuit CEO looks to the future of small business
— -- Mobile. Social. Global. That's where Brad Smith sees small business heading, and he's a guy who should know. As president and CEO of Intuit, maker of QuickBooks, the future of his company is closely aligned with the future of all small businesses.
I sat down with Smith for a one-on-one conversation as Intuit was launching GoPayment, a new product allowing small businesses to collect credit card payments on their mobile phones. GoPayment is one of those game-changing technologies that Intuit often initiates — obvious but indispensable. It is, I'm certain, destined to become a big hit with small companies who conduct business away from a central office or store. And it reflects Smith's commitment to mobile solutions.
Nevertheless, Intuit, as a company, was often unknown to its small-business users. They may have loved QuickBooks but not related to the name "Intuit." That's why Smith launched a major rebranding effort, especially since Intuit has acquired — and is still acquiring — a full stable of services for small businesses.
"We were a house of brands, not a branded house," Smith said. "Intuit is an umbrella brand for small business because small business needs many things."
After Intuit's historic emphasis on back office operations like bookkeeping, Smith says they're now focusing on "front office" services, such as marketing. In the past few years, they've acquired a leading website hosting company (Homestead), and they're seizing on the tremendous interest in social networking and online communities.
Intuit is both acquiring companies that focus on social networking — such as Boo-Rah enabling small businesses to see what users are saying about them all over the Web — and also building social networks into existing Intuit products. For instance, a QuickBooks user will be able to ask a question and get an answer from another QuickBooks customer.
