Money Choices

www.moneychoices.com.au

1. Tell us about your business

Money Choices is a money comparison site that aims to make it easier to find the best bank account, credit card or loan for the individual's needs.

2. When and why did you start your business?

We started Money Choices back in 2008. The primary reason for us starting out? Even though there are plenty of comparison sites in the finance industry, most of them don't offer anything unique. We set out to provide independent and comprehensive reviews of products so that the stress is taken out of the decision making process.

3. On a personal level, what have you achieved with your business?

Working on Money Choices has certainly sharpened our toolkit with regards business development and marketing. However, the biggest learning curve has probably been in our knowledge of the finance industry.

4. What are some of the challenges you’ve faced in growing your business?

The biggest challenge, as we've alluded to above, is the saturated and highly competitive market. It seems like there isn't a month that goes by without a new competitor enters the fray, so we always have to keep working on our site to make it better for users.

5. What activities have been successful in promoting your business?

We have put a lot of effort into our blog, which has helped us reach out to users not only in Australia, but throughout the world. Social media is more than just a marketing fad - we want to actually interact with people using this new medium.

6. What activities were less successful for marketing your business?

We use our blog and social media (both fairly narrow channels in the grand scheme of things) to market Money Choices, so we are aware that while they are effective, there are a lot of people who still don't know about us and what we offer.

7. Name your favourite thing about your business

Dynamism. The team iterates updates to the site quickly and regularly, which instills a progressive attitude to the business as a whole.

8. Who or what other businesses or business people inspire you?

Tim Ferriss and his book (The Four Hour Work Week) have, without doubt, shaped how we go about our business.

9. What are your plans for the future of your business?

Our short term focus is on building out the brand around Money Choices as a leading source of independent reviews of financial product for Australians. We also plan / aspire to post more regularly on our blog.

10. Share your best business tip with our readers.

Edmund Burke summed it up when he said "Never despair but if you do, work on in despair." Just keep on going forward.

Visit us at: www.moneychoices.com.au