PlayMoolah: Making Serious Business Fun (Part 2)
One of the characteristics that defines PlayMoolah’s start-up culture is being constantly open to new ideas and possibilities. The latest result of that was WhyMoolah, an application to cater to the growing demands of the young adult market.
In Part 2 of our interview, we find out how Audrey and her team keep pace with the fast-moving technology industry and how thinking big can go a long way, across the world.
Think Locally, Act Globally
Inevitably, the path to entrepreneurial success is continually paved with challenges. Audrey reveals that PlayMoolah’s biggest hurdle is localisation. The company is focused on remaining relevant to markets all around the world, like the US, tailoring the products to different needs to reach out to more audiences and engage communities. Currently, Min is on the ground in the US collaborating with curriculum developers to craft solutions that speak more relevantly to young adults there.
The Whys and Hows of Innovation
It’s all about how the company keeps innovating to “really serve and meet the needs of young people in a more meaningful way”. The addition of WhyMoolah to its suite of products is a testament to this. The seeds of thought to design for the stages of adulthood had been germinating before their target audience gave them a clear cue. In their dialogue with their customers, they discovered the growing demand for such a product and then knew that the time was ripe to launch WhyMoolah.
When Small is Big
Audrey values the importance of celebrating the little victories, which have played out in the opportunities PlayMoolah has created to make money talk easier with family, with initiatives such as their engagement programmes that have aided in fostering more positive conversations about finances.
For a start-up such as PlayMoolah, being successful is being sustainable. It not only hopes to establish itself as a well-paying employer in the long run, but also fulfill its greater social mission of bettering people’s lives.
In the face of obstacles, thinking big can be powerful. To Audrey, that means constantly travelling the world, being around like-minded people to help you “broaden your perspective” and then putting those renewed ideas into practice.
Some exciting developments in the pipeline include rolling out the next two instalments of WhyMoolah, in response to popular demand. An ongoing campaign in the US to raise funds for WhyMoolah’s localisation in the US through Indiegogo (a global fund-raising and crowd-sourcing site) has also been keeping them busy. Audrey deems crowdfunding as a great opportunity for building a community of early-users who believe in your product and are willing to put their money where their mouth is.
Inspiring the Aspiring
Audrey’s advice to budding entrepreneurs: hire people who are hungry, willing to roll up their sleeves and get their hands dirty. She truly believes that a company’s success is built on its people. It is really about finding the right people to complement your team, who are the right fit for your company culture and subscribe to your vision.
Watch Part 1 of our interview with PlayMoolah’s co-founder Audrey Tan.