We have accomplished something incredible at Bricknode, let us just look at a few points that come to mind.
- We have a huge product suite developed, operational and functioning
- We have assembled a team that is big enough to serve the market and the products and still small enough to make us agile and more efficient than our competition
- We have built and educated a sales organization in record time that are talking to many prospective customers each day
- We have built a marketing machine which generates hundreds of inbound leads per month
The problem with this though is that it creates a burden to explain in a short format and it might be difficult to grasp the extent of the opportunity that our wide product suite permits us to act upon.
It might be difficult to take in that a small company based in Skövde, Sweden has been able to build a product that can be used to rival or complement products built by multiple billion-dollar firms. One of the best confirmations of what we have created is real, is when new staff members join Bricknode from large tech companies and after a few months tells us how incredible it is that we have been able to create such a system on such a small team.
By using new tech and thinking in new ways I view what Bricknode has accomplished in the financial industry in the same way as what SpaceX is doing in the space industry. No one thought it was possible until it was!
Getting this message relayed to the world is the real challenge. Most of our efforts over the years has been spent on building extremely smart and generic solutions in the back end which could support any type of financial operation and customer segment that we would choose to target in the future.
In our interim report for Q1-2022 we talked about our revenue model and how we are working to make the growth less “bursty” by adding more product segments, like Bricknode Investment Manager, Bricknode Deposits, Brokerage as a Service using our own brokerage license, etc.
The current focus is, and has been, on the product segment called Bricknode Broker where the ticket sizes are large, but sales cycles are long (5 – 6 months). This is where the sales team that we assembled 5 months ago started to work.
The main limiting factor on growth rate right now is what capital is available for starting organized and sustainable efforts on selling and marketing various verticals.
In addition to the Bricknode Broker segment the sales team started to work on Bricknode Lending during 2022 and now we are getting ready to start working on Bricknode Investment Manager and Bricknode Deposits. As soon as we can conduct regulatory business using a brokerage license we will be working on Brokerage as a Service too.
All these product possibilities have been sitting within our product core but we have not had the resources to expose them by associating each one with marketing, sales, and customer success efforts but that is where we are now.
This short video illustrates what we have been doing at Bricknode.
So, where do we see our competition? We have a hard time finding someone that can perform as wide an aspect of services like we can but within the different segments we have competition. The main difference with Bricknode compared to other suppliers is the fact that we have been, and are, operators of our own software which we use ourselves. We build stuff that we have a need for and thus we do not work in just theory when developing products which is a huge advantage.
Developing product is no longer an issue for us but getting the word out to explain who we are and what we can do to everyone from potential customers to other stakeholders is an issue. This is a challenge that we humbly take on and increasing our transparency and communication to all stakeholders is one step on the way to understanding and recognition!
Best regards,
Stefan