Aaron Patzer
Aaron Patzer
Aaron Patzer is an internet entrepreneur and the founder of Mint.com, the financial management tool which was acquired by Intuit and has over 10 million users...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
alone banking calculate carefully knew market million money online people purchased size starting sure using
Carefully calculate the potential size of your market to make sure you can grow. Before starting Mint, I knew that there were about 20 million people who had purchased 'Quicken' or 'Microsoft Money' over the years, and 80 million people using online banking in the U.S. alone.
afraid alone aspiring companies contrary execution instinct market people runs tips top worth
One of my top tips for aspiring entrepreneurs: Tell everyone you know about your idea. This runs contrary to the instinct that most people have, because they're afraid someone is going to 'steal my ideal.' Ideas alone are worth very little; it's in the execution and market feedback that companies are made.
anyone audience broader fear knew might prototype provide steal sure talked
After building most of Mint.com's prototype by myself, I talked to anyone and everyone I knew about Mint. It's counter-intuitive, because you might fear someone will steal your idea, but it's the only way to make connections, be sure you're on the right track, and provide a solution for an audience broader than yourself.
real people design
The other big factor in building trust quickly is site design quality. Mint.com has one of the best graphic designers ever (Jason Putorti) - he cares about every pixel, all the fonts, all the transparencies and effects. And that shows instantly. People do make judgments of trust on appearance - in the real world and online.
ideas stealing
Tell anyone and everyone your idea without fear they're going to steal it.
people recessions
Recessions are great because they unlock the best people.
business real people
People do make judgments of trust on appearance - in the real world and online.
mba add engineers
When valuing a startup, add $500k for every engineer, and subtract $250k for every MBA.
business giving-up doubt
It's okay to doubt yourself, it's okay to feel down; just never give up.
real entrepreneur want
Solve a real problem. You don't start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur to solve a real problem.
hate world
Observe the world around you everything you do, and especially everything you hate to do.
real world problem
Solve a real problem and the world is yours.
both budgeting features forever hours loaded money powerful took user
Before Mint.com, I was a long-time user of 'Microsoft Money' and Intuit's 'Quicken.' Both were powerful tools, loaded with features and functionality around taxes, investment, budgeting - too feature-laden, in fact. They took hours to set up, forever to learn, and an hour a week to maintain.
belongs careful companies feature pick twitter url
Be careful not to start a company that really belongs as a feature of another company, like the 25 Twitter URL shortener companies out there. Pick a real problem that's here to stay.