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FS 030: Mint.com: How Aaron started part-time and made a “sure-to-fail” business successful and sold for $160+ million.

 

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 will 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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