Set up a payroll service to manage employee payments and payroll taxes effectively, as neglecting this can lead to severe financial consequences.

Gusto, originally Zen Payroll, focused solely on payroll services before expanding into a comprehensive HR tool, demonstrating the importance of starting simple.

The concept of a 'compound startup' means integrating multiple functions like payroll, benefits, and identity into one cohesive solution.

Every startup has essential tasks that need to be accomplished, which are not related to coding, such as incorporation, payroll, and customer communication.

The payroll industry was ripe for disruption due to the combination of big incumbents and a fragmented market, allowing us to leverage technology trends like cloud computing and mobile access, while small businesses are finally starting to receive amazing software solutions thanks to recent technology and distribution changes that favor disruptors over incumbents.

We aim to automate administrative tasks for startups, allowing founders to focus on building and shipping their products instead.

Even during tough times, it's important to prioritize payroll and ensure no one on the team experiences missed or delayed payments.

We wanted to tackle a problem that wasn't just for Silicon Valley, but something that affected small businesses across the country and the world, specifically making payroll easier and simpler.

Business expenses, such as employee salaries and office rent, are crucial for startups as they can be deducted from taxes, reducing the overall tax burden on the company.