Thanks for the feedback! The video was rushed and in hindsight I probably shouldn't have tried to field an entry with only a day to prepare and shoot it. That said, I will try to answer some of your questions.
Pennyminder is suitable for both individuals and small groups. It lets you create a 'financial social network' with the people we all share finances with. People like our families ,room mates, clubs and associations.
Pennyminder will help decentralize the management of finances for such groups, making it a shared responsibility, reducing the burden on the group treasurer.
My initial business model is a freemium based one. I have a few more value added services an d products that I will be adding over time to broaden the product range. I am also pursuing white label licensing arrangements with banks, credit unions and others that can benefit from branded and co-branded PFM tools.
I look forward to meeting you to both continue the conversation and to show you how Pennyminder works.
Jim DeLaHunt said...
Posted 1 year 22 weeks ago
There's a lot of bookkeeping startups. Pennyminder has an interesting differentiation: groups instead of individuals as the market niche. But the video didn't sell me on the Pennyminder product will be complete and deliver value. What kinds of groups can you serve? What do they need from a bookkeeping product? Will Pennyminder take the load off whomever gets stuck with being the group treasurer? Will it help preserve institutional memory from one treasurer to another? Will it integrate with other payment services, like collecting dues via Paypal or Hyperwallet?
And: how will Pennyminder make money? What's the value proposition? What's the business model?
Vince Hodges said...
Thanks for the feedback! The video was rushed and in hindsight I probably shouldn't have tried to field an entry with only a day to prepare and shoot it. That said, I will try to answer some of your questions.
Pennyminder is suitable for both individuals and small groups. It lets you create a 'financial social network' with the people we all share finances with. People like our families ,room mates, clubs and associations.
Pennyminder will help decentralize the management of finances for such groups, making it a shared responsibility, reducing the burden on the group treasurer.
My initial business model is a freemium based one. I have a few more value added services an d products that I will be adding over time to broaden the product range. I am also pursuing white label licensing arrangements with banks, credit unions and others that can benefit from branded and co-branded PFM tools.
I look forward to meeting you to both continue the conversation and to show you how Pennyminder works.
Jim DeLaHunt said...
There's a lot of bookkeeping startups. Pennyminder has an interesting differentiation: groups instead of individuals as the market niche. But the video didn't sell me on the Pennyminder product will be complete and deliver value. What kinds of groups can you serve? What do they need from a bookkeeping product? Will Pennyminder take the load off whomever gets stuck with being the group treasurer? Will it help preserve institutional memory from one treasurer to another? Will it integrate with other payment services, like collecting dues via Paypal or Hyperwallet?
And: how will Pennyminder make money? What's the value proposition? What's the business model?
I look forward to hearing more at LaunchParty 6.