Microsoft and Quicken were leaders and giants with lots of cash and marketing power in the personal finance software business.
Yet, Aaron took on the giants and built a “sure-to-fail” business and sold to Intuit for $160+ million.Let us see how he did it.
What you could learn from this episode:
- How he got introduced to computers at an young age
- At what age, his passion for entrepreneurship started
- How he recognized the power of the internet
- What did he do when he did not get customers when he cold-called – these rejections were a blessing for him
- How he paid for this college
- How he recognized the problem with the finance software he was using.
- Should he work part-time or quit his job
- The changing trend he saw in the marketplace which the giants couldn’t recognize.
- What did he do when investors rejected him
- Since he had Zero contacts, what did he do to build a network
- What did he do when he had self-doubts and was scared of his idea
- The peculiar way he validated his idea
- The surprising solution he found to partner with banks
- How he found a way to make money
- How he marketed Mint with very less or no money
- The strategy they used to attract more customers of their target market and how they gained their trust
- A simple answer from Aaron on how to manage money – You can stop reading 90% of the finance books after you know this.
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