Fun Money Management and Impact With Anthony Sarandrea

<p><b>Nuggets:</b></p><ul> <li>Use the opposite of the “Mom test” - tell people about your idea/mockup as if it’s someone else’s terrible idea to get their honest feedback</li> <li>Waking up with a “poor mindset,” living on a budget and working hard to always earn more could be the secret of some very wealthy people</li> <li>Even if you have plenty of money it can still help to live less extravagantly so that you can maintain connections with close friends and family.</li> <li>Anthony echos a common entrepreneurial mantra “Fail fast.”</li> <li>Once one masters money, the next focus is often “impact.”</li> <li>Really dumb down your MVP a lot (e.g. the creator of palm pilot carried around a block of wood as a prototype to feel if it made sense to create)<p></p> </li> </ul><p><b>Action Steps:</b></p><ol> <li>Create a very “dumbed down” MVP to see what might make sense for you</li> <li>Sign up for an existing app, like Mint to explore the niche</li> <li>Consider tech savvy millennials and college students that you can support as their income grows. </li> <li>If you are not technical, connect with developers at meetups and join developer groups. Also, develop your skills at communicating vision, emotion and motivation to others.</li> <li>Experiment further with potential app features</li> <li>Consider account blocks on spending via the app based on triggers users set up</li> <li>Focus on making the experience fun and easy for users</li> <li>Create “hoops” that users have to jump through before making questionable spending decisions</li> <li>Find a way to get yourself obsessed with one relevant number in your pocket all day long.</li> <li>Look for partnerships with banks (start with small banks then move to the larger players)</li> <li>Look into collecting financial data on client habits to help them get great loan rates and connect them with lenders</li> <li>Consider using AI and user feedback to help curate a good budgeting plan for users</li> <li>As an aspirational plan, you could move users from budgeting