Interview With Tarik Khribech
Describe your product or service:
“Allbetter enables consumers to find local, affordable contractors with ease. Our vision is to provide small business owners with the tools, connections, and confidence they need to grow their business on their own terms.”
Describe your company values and mission:
“Allbetter was born out of passion, innovation, and irritation.
Founder Tarik Khribech was born in Morocco and migrated to the USA. He soon finished his Master’s degree in computer science and began working for Fortune 100 companies.
Years of launching innovative businesses with growing success fueled Tarik’s fire for measurable, positive results.
But as an immigrant, he saw first-hand the frustration of small business life, especially during the recent pandemic. Irritation grew while using the available apps for homeowners and contractors, and an idea, a long-term vision, and a solution were born.”
How did you come up with your startup idea? How did you decide to actually act on the idea? What gave you confidence that you were on the right track?
“It’s incredibly important to leave a legacy behind for my family. When I came to the states from Morocco, I knew I wanted to work hard to achieve my American dream. Now, it’s just as important for me to help others achieve their dreams. That is what I want my legacy to be.”
How are you funded? I.e. venture capital, angel investors, etc.
How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)
“Now entering its third year, Allbetter has attracted a world-class team of visionaries, business and brand strategists, technology and app experts, and more, all dedicated to mak[ing] the contractor and homeowner industry better, mak[ing] small business better, mak[ing] busy homeowners feel better, and this world, well … you know.”
Did you always want to start your own business? What made you want to become an entrepreneur?
“I was born in Morocco, and I came to the US to finish my Master’s in computer science. Right after college, I started working for Fortune 100 companies. In 2008, I launched my first business and grew that to over 400 retail distribution locations. Then I got into real estate, helping with building and repairs, and I got to experience firsthand the pain in finding reliable and affordable help.
I remember that when I lived in Morocco, contractors and other hourly employees would hang out on the street corner looking for work. Whenever anyone needed anything done, they would go to that corner. I wanted to create the mobile version of that to help lift small businesses up and allow [everyone] to get their little slice of the American dream.”
How did you come up with your company name? Did you have other names you considered?
“Consumers hiring small businesses with apps. We made it all better, and that's how we come up with the name ‘Allbetter.’”
What is the greatest challenge you faced in starting your business, and how did you overcome it?
“Challenges are never-ending. Finding a product-market fit at first was very challenging. [You] need to be able to pivot and change real fast and adapt to your user needs. It’s hard to get direct feedback from your audience, but we built a tool that allow our users to chat within the app, and I would sit there for hours reading those conversations to see if there is something we can improve about our users’ experiences, and oh boy, they were so many, and we [were] glad that we found about them and got them fixed.”
Who is your product or service made for? Who is your target market?
“Homeowners, landlords, property managers, and service providers.
But the goal is to help anyone looking to start and grow their business by simply using their smartphone — starting with home services first.”
What's your marketing strategy?
“We are currently organically expanding contract services and cities based on demand. With our investment ask, we can market, brand, and spread the app to more markets and then to the world. Our name ‘Allbetter’ will create simple but breakthrough branding on all platforms.”
How did you acquire your first 100 customers?
“Allbetter keeps the needs of our contractors and homeowners [as our] top priority. Our competition charges these small business contractors high fees to bid on jobs or even see a homeowner’s phone number. At the end of the day, Allbetter allows them to keep more money in their pocket for the work they do. For homeowners, being able to determine what fits their budget best is a huge market differentiator. We also keep off the extra convenience fees that competitors include, so in the end, they get more of a say in what they pay.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
“We track app downloads, events, open rate of emails, how long/time our users stay on the app, and how frequently they use it.”
What's your favorite book on entrepreneurship?
“‘The One Thing’ by Gary Keller and ‘Start at the End’ by Dave Lavinsky.”
What is your favorite startup or business podcast?
“Jason Calacanis [‘This Week In Startup’] and Nathan Latka [‘The Top Entrepreneurs’].”
What is something that surprised you about entrepreneurship?
“Entrepreneurship takes a certain type of person, but it can also be learned along the way. Skill, grit, and determination are all personality traits that someone destined to be an entrepreneur is born with. They must be willing to take a risk or be adventurous by trying something new. That can be hard to learn, but management, communication, and leadership are skills that can be honed through life experiences and are necessary to be a successful entrepreneur.”
How do you achieve work/life balance as a founder?
“I’d say my favorite leadership style is organization because I think it is especially important for a small business. Especially when things are first getting started, things move so quickly that it can be hard to remember deadlines or prioritize what needs to be done first."
How do you stay motivated?
“I want to give millions of small businesses the chance to carve out their little slice of the American dream.”
Did you have to develop any habits that helped lead you to success? If so, what are they?
“Business management skills:
Business management skills are essential to running a small business. Simply put, the ability to organize, motivate, and take goal-oriented actions are crucial for success in any industry, from tech to retail and hospitality.
Listening and communication:
A successful entrepreneur will always be a great communicator and listener. They need to understand what customers need, and this is done by listening and soliciting feedback. For Allbetter, I didn’t get distracted by other competitors but listened to issues homeowners and contractors were having and developed an app that directly solved problems they were facing. Clear and effective communication is also the avenue to promote brand awareness in emails, content marketing, social media, as well as other forms of advertising, and helps to reach target audiences.
Critical thinking skills:
The ability to think critically and apply logic, in addition to being able to visualize and explain things in different ways, is a skill many business leaders believe to be an essential prerequisite for success. Analytical skills and the ability to solve problems [are] critical when trying to decide which product or service best meets consumers’ needs or developing a plan to address business goals. It’s important to be forward-thinking and have visualization skills to be able to project how different actions or decisions could affect outcomes significantly — and how to adjust for these differences.”
What are you most proud of as an entrepreneur?
“When you see an idea become a reality.”
More on Allbetter
We were fortunate enough to hear some valuable insights during our interview with Tarik Khribech of Allbetter that will inspire, motivate, and teach aspiring and established entrepreneurs alike.