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. Aaron Patzer bankcalculatecarefully share on social
Tell your idea to whomever will listen, and you'll get valuable market feedback before writing a single line of code. Aaron Patzer codefeedbackidea Change image and share on social
I actually don't invest in anything that is social, mobile, deals or ad networks simply because those are areas where there are so many players and so many other smart people in the space, I feel like I don't have a competitive advantage. So I tend to go after things that are e-commerce, like healthcare. Aaron Patzer advantageareacommerce share on social
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. Aaron Patzer audiencebroadbuild share on social
When I was 8 or 9, I started using bulletin board systems, which was the precursor to the Internet, where you'd dial into... a shared system and shared computers. I've had an email address since the late '80s, when I was 8 or 9 years old, and then I got on the Internet in '93 when it was first starting out. Aaron Patzer 80saddressboard share on social
If you look on Amazon - if you do a search for personal finance, there are literally 20,000 books written on personal finance, and there's no real reason for it. I mean, personal finance is pretty simple. Aaron Patzer 000amazonbook share on social
Kevin Systrom of Instagram used to work for us as a consultant in the early days of Mint. I knew him a long time ago. Maybe I could have gotten in there. But with photo sharing, I don't know if there's an obvious business model. I don't think there's a competitive, sustainable advantage. Aaron Patzer advantageagobusiness share on social