Today we'd like to give you an update on the progress of Walletguide. Our product has reached an important stage in its development, marking the beginning of a new chapter.
Getting ready for product-market-fit
Over the past few months, we have focused on filling the core feature gaps of Walletguide. You can find more details about the features developed on our product updates page. Through careful development and continuous refinement, we've built a comprehensive solution that we're proud to share with more users.
This is what Walletguide looks like right now:
A reminder on what Walletguide does
Walletguide is a comprehensive wealth tracking platform designed to give entrepreneurs a complete overview of their assets across all asset classes. It eliminates the need for complex spreadsheets by providing an intuitive interface to monitor and analyze your net worth, investments, and overall financial position in one central place.
Refining our market positioning
As part of our growth strategy, we've refined our positioning to specifically serve entrepreneurs as our initial Ideal Customer Profile (ICP). This focused approach allows us to better understand and address the unique wealth tracking needs of this audience. We are also part of this audience, which helps us understand the challenges our users face.
One reason for this refinement is that the overall market for personal finance tools is very crowded. There are specialized tools for specific areas (e.g. expense tracking, portfolio analysis, scenario planning) that provide great value, but our goal with Walletguide is to give you a complete overview of your assets, regardless of the asset class.
We also want to grow Walletguide in a bootstrapped way, similar to what we did with quintly (now Facelift Data Studio). This means that we need to find a business model that can deliver good enough retention numbers and therefore target a more professional audience (compared to the classic B2C with high churn rates). If this works, we will have to see.
Taking all this into account, entrepreneurs are a good target group for a number of reasons:
- They usually have a more complex asset structure which also means that measuring their net-worth is more complex
- They have experience with how financial tracking is done in a business context (which we have used a lot to influence feature decisions in Walletguide)
- Almost every entrepreneur we talked to has created their own financial spreadsheets in the past, and this is exactly what we want to replace and improve
- Entrepreneurs embrace change, making it easier for us to develop the product at high speed, and we're very optimistic that AI will bring many benefits to Walletguide
- We're entrepreneurs ourselves, so we know the problem space really well
- We have a great network of other entrepreneurs to gather valuable feedback
Next steps
With our product now reaching feature-completeness (if such a thing ever exists), we're ready to welcome more users to the Walletguide platform. This expansion will help us validate our product-market fit and gather valuable insights from real-world usage.
While product development remains a priority, we're now dedicating more of our time and resources to marketing initiatives. This balanced approach will help us reach more users while ensuring that our platform continues to evolve with user needs.
We would love for you to give Walletguide a try and let us know what you think. You can try it for 14 days with no obligation.