She made the numbers add up

THE PRINCIPLE

Where there’s frustration there’s opportunity

Many creative people dislike keeping track of financial details. As a young entrepreneur, Jesicca Mah was no different but she decided to do something about it. Finding existing software like Excel or Quickbooks too complicated and time-consuming to learn, she and co-founder Andy Su decided to create an alternative.

Taking inspiration from Mint.com, a personal finance site, they and their team developed inDinero (www.indinero.com). It helps business owners monitor the financial health of their companies, and it claims you can learn how to use it in minutes rather than hours.

Its features include reminders of bills to pay and warnings if your account balances get low. The operation is expanding rapidly and adding features. Mah says their users are the greatest source of ideas for new features, which include mobile applications, ways to make tax filing easier and increasing the number of compatible international banking institutions.

Mah’s advice is that when you have an idea, rather than trying to raise money, focus exclusively on your product and how it can benefit your target audience.

It’s a great example of letting a personal frustration inspire a successful product.

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