Raza Associates ― Turning CFO into entrepreneur 7 Minute Read
When a side project of a reputable firm’s chief financial officer turned out so good that he quit his job to pursue startup fulltime.
Project focused on creating a pool of potential customers by offering the information they need on daily basis for free. To find these needs we turned our focus to the local investment community.
We found that news portals were scattered, the government provided portals were substandard and had less to no options of filtering the content. We also found that gold rates were also key interest.
The brief was to give immense value by solving problems of the people we want to do business with and then show them how you can do more. This is based on the principle of reciprocation which defines the human need and tendency to want to give something back when something is received. In fact free trials and product demos are based on this principle.
The people wanted business news, gold and stock rates and so we went on to do exactly that i.e building an app that allows people to have all of it under one single app. Since the app was meant to bring business news from all over the place, we could also add our blog posts in that list as well and expose our users to our offerings indirectly.
To our advantage, Raza was an expert when it came to navigating complex tax regulations in order to find a feasible structure for business. Since its hard to find people who want to pay more taxes than they have to, the business was solid from the get go.
We decided to go for three products. Mobile App for news which also included a section where you could submit your details if you wanted to have your taxes filed. Website was introduced as a portal to host blog mainly but also to introduce the business to users.
There were are a few key aspects of the app which need to be accommodated in a news feeder like this. First, it should be content driven and second, that content should load fast. People shouldn’t be waiting for 5 seconds to load the content.
Loading of the content can matter as much as the content itself.
People expect technology to be fast and in this age, replacement cost are close to none. In order to achieve this, we created a content first approach towards the app. The app’s visual structure is almost entirely based on the content itself. On the technology end, in order to load the content fast, we skipped the server entirely within the app. The app can scrap the data from news sources automatically without needed any intervention from us.
App requests towards server scale with the scaling of the system. Since app and everything in it was free, it was utmost important that more users shouldn’t result in increased costs. With these two key components taken care of, the app was ready. With the minimal cost, the end product turned out great and after experiencing what we built, client decided to pursue this side project as full time entrepreneurship.
With the minimal cost, the end product turned out great and after experiencing what we built, client decided to pursue this side project as full time entrepreneurship.