This week I had the privilege of sitting down with Ian and Ty, the founders of inBuild. If you are new here, inBuild is a software designed to streamline the invoicing process in the construction world by using machine learning and data capturing technology to create invoice automation. During our interview we uncovered the why behind the business, where the idea stemmed from, and ultimately why they decided to become business owners.
When did you start your business?
For my first question, I asked Ian and Ty when they first started their business. Ty said,
We started inBuild on April 5th, 2021. However, we began researching and thinking about it in January of 2021.
Within that time frame, we have certainly learned much about the industry and building a business.
Where did you get the idea for your business?
For my next question, I asked where the idea of inBuild came from. Ian said,
We have had great interest in automation for some time now. Ty has been working on invoicing and account management for a construction company so we know there is a need for such an application with companies within the industry. We put two and two together and created inBuild!
Then, Ty went on to share,
Like Ian said, we got the idea from the financial consulting work that I have been looking to improve for the last 2.5 years while working with construction development companies in Aspen, CO.
Why did you decide to become business owners?
For my next question, I asked why they decided to become business owners.
Ever since I was able to think for myself, I have wanted to own my own business. It has been my lifelong dream. The freedom of being my own boss, working on something I am so passionate about is what gets me out of bed each morning.
Ian agrees, going on to state.
Working for myself is something that has always had much lure and potential. There is additionally a large amount of knowledge and experience to be gained from starting your own business and taking that venture. Much like getting an MBA, though with real world application for every aspect of the process.
Ty and Ian agreed that this venture will give them the opportunity to learn fast, adapt, and create a product that is much needed in the construction industry.
How did you come up with the name of the company?
For my next question, I asked how the name inBuild was created.
Through much time and thought there was something about the name inBuild that just seemed to fit.
Ty shared that Ian was actually the one who thought of the idea! Ian continued,
We discussed with family, friends, and acquaintances- many who are entrepreneurs and know the industry quite well.
Ty then said,
We thought it was fitting because one of our main features is the inbox. We felt that the name inBuild had correlation to the inbox. Construction companies receive 99% of their documents via email. Standard inboxes do not have ai, or automation.
How would you describe your company’s success so far?
For my next question, I asked how they would describe the success of inBuild so far. Ty said,
We are successful so far! We have a working product and paying customers. Additionally, we have customers who are willing to test our beta product and provide feedback.
Alternatively, Ian explained,
To describe our success is like building an aircraft while trying to fly at the same time. We are certainly flying, though it is a bumpy ride. We have had success with much hardship along the way. We haven’t been in business that long and thus far we are on the path to have a successful business!
How does your business compare to competitors in the market?
I then asked, how their business compares to competitors in the market. Ian said,
We are in a market with some big players. Though, our competition has products that are not the same as ours. We are hoping to integrate with a lot of the software that exists in the space. We are a much smaller company, are new to the space, with potentially less resources. Although, this keeps our solution light weight. We can modify and cater per customer requests.
We are new, but we are a unique niche. There is no other company doing the same thing as we are. We are the first in the market.
What are your company’s goals?
Because inBuild is the first in the market, I then asked what the company’s goals are. Ty shared that they are looking to acquire more customers, land a funding round, and improve and innovate the product! Similarly, Ian said,
Overall our company’s goals are to build a robust software that will make the way people currently work that much better and simplistic.
Ian also agreed with Ty that they would like to have a dozen more customers by early 2022.
While growing the team, bringing in more revenue, and having a product that everyone wants to use.
How much time do you spend working on the business each week?
Starting a business requires much time and attention. For my last question, I was curious as to how much time Ty and Ian spend on inBuild each week. Ty shared that they spend about 60 hours per week working on the company. Ian agreed and shared that it breaks down to roughly 9 hours each day, depending on the week. Ian went on to explain that they make sure to utilize their time as “smart” as possible. “Work smarter, not harder is something we certainly instill,” Ian shared.
This interview gave me a better insight on the “why” of the business, where the idea came from, and all the details that come with being business owners. To all future entrepreneurs looking for a sign, this is it!
Thank you to Ian and Ty for taking the time to take us on a deeper dive into inBuild!