Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Waleed Nasir, Head of Product and Co-Founder of Qult Technologies, located in Edmond, OK, USA.
What's your business, and who are your customers?
As a premier research and development center for Artificial Intelligence and Machine Learning, we at Qult Technologies (Qult.ai) are proud to lead the charge in empowering small businesses to elevate their bottom line with the latest tools and technologies. Our mission is to democratize AI and ML by enabling organizations of all sizes to harness their core competencies and transform their operations.
We understand that small businesses are the backbone of the economy, and we are committed to supporting their growth by providing seamless integration of AI and ML with their existing workflows. We train small businesses on the adoption of these technologies and work alongside them to build tools, plugins, and APIs that integrate with tech stacks such as chatGPT. We help businesses unlock the full potential of these technologies and drive profitability.
Our team of experts is dedicated to providing top-notch service and support, ensuring that our clients have the resources they need to succeed in today's fast-paced business environment. Whether you are looking to streamline your operations, train your employees to become productivity wizards, make more informed decisions, or drive growth, Qult Technologies is here to help you achieve your goals.
Tell us about yourself
As co-founders of Qult Technologies, my colleague and I are passionate about leveraging our expertise in AI and Computer Science to make a positive impact on society. Our journey began when we came to the United States as Fulbright Scholars, pursuing our PhDs in Computer Science with a focus on Artificial Intelligence at the University of Michigan and then at MIT.
Driven by a shared commitment to advancing the field of AI and improving people's lives, we founded Qult (inspired by 'cult') with a clear mission in mind: to use our knowledge and skills to benefit the community and mankind.
Through our work, we have helped businesses of all sizes unlock the power of AI and transform their operations. Our cutting-edge tools and technologies, combined with our deep understanding of AI and ML, have enabled us to deliver exceptional results for our clients.
What's your biggest accomplishment as a business owner?
As a business, we have experienced tremendous growth over the past year, with revenues increasing by an impressive 3400% year over year. While we are proud of this achievement, we are even prouder of our work in developing cutting-edge solutions to some of the world's most pressing challenges.
When the COVID-19 pandemic struck, we quickly mobilized to build crisis management systems that helped small businesses navigate this unprecedented time. Our programmatic loan forgiveness tool enabled businesses like coffee shops and nail salons to comply and qualify for PPP Loans, ensuring their continued success and resilience. The tool has churned over $1B in loans forgiven for over 23,000 businesses.
In addition to our work in crisis management, we are also committed to driving progress on the critical issue of climate change. Our climate tech innovation, which uses machine learning to reduce methane emissions from oil and gas production, is a testament to our commitment to sustainability and environmental stewardship.
What's one of the hardest things that comes with being a business owner?
In my opinion, building a business without external funding requires a tremendous amount of dedication, hard work, and resourcefulness. And even then, the odds are fully stacked against you. However, the benefits of bootstrapping can be enormous in the long run. I have great respect for those types of business owners.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
My top three tips are:
Not using AI in your business is like using a flip phone in 2023. Sure, it may still work, but you're missing out on all the cool features and capabilities that come with a smartphone. Plus, your competition is probably already using AI to get ahead, so it's like you're trying to compete in a race barefoot while they're cruising on a rocket ship. Don't be left behind, embrace the power of AI and take your business to the next level!
It's equally important to balance AI with human expertise. You cannot achieve meaningful transformation without transforming your workforce. Focus on training and upskilling your staff so that they can be more creative and more productive in their respective functions.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.