Websites and blogs help you establish yourself as an authority through helpful content to your audience. Andrew Schrage, a co-founder of MoneyCrashers strives to offer valuable financial content to individuals and businesses to help them manage their finances. In a competitive world of finances, their blog stands out with a large social media following and a bunch of financial content. We had an opportunity to interview Andrew and asked about their story, how they started their business and the future of MoneyCrashers.
Tell us your story. Why did you start your business?
Our business was started because I and my eventual business partner had a rather coincidental meeting through mutual friends. We began talking and we both realized that our career paths weren't satisfactory to us at that point in time. We wanted something where we could make more of a positive impact on people's lives, in short. I had a background in Economics and my partner had a technology background, so after some discussion, we decided a robust personal finance site would fit an important niche in our education system. The timing played a role as well, as at the time the country was in the midst of a deep recession. But the main goal in mind was to help people that needed financial guidance.
How did you come up with your business name?
Our business name is rather unique. It's related to money, of course, but we wanted to create a community where our readers could have a so-called place to “crash” and talk about money as well. We also work hard to “crash” and change people's feelings about money from boring and fearful to positive and embracive.
Tell us about your products and services. How do you help clients?
We offer a variety of articles and resources which can help individuals and businesses better manage their money, but the site is designed to be attractive to both those who are new to managing their own finances as well as other folks who need more expert guidance, from topics like the best small business cards to raising a family on a budget. We have delved into core financial, business, and investing topics, but also have a strong focus on lifestyle topics, since in some way shape or form, they have a significant financial impact on people's lives.
What makes you unique? What is your unique selling proposition (USP)?
Our overarching unique selling proposition is our content. We strive for unique, quality, and valuable content that readers can depend on and can't find anywhere else. We also only promote products that are high-quality and can be used to help people find their financial freedom.
Where do you see your business in the next 3-5 years?
In the next three to five years, we want to strengthen our position as one of the leading personal finance blogs. We want to continue to grow our community and tackle all of the questions they have and the issues they face on a daily basis.
Any advice you would give to entrepreneurs and business owners?
Follow your passion. Choose an industry or niche where you're an expert or have a lot of passion. Establish your business goals and stick to them. Hard work can and normally will pay off. Don't be derailed by critics.
What is your favorite business quote and why?
Joe Paterno once said something to the effect of “You're gonna get better or you're gonna get worse, but you're not gonna stay the same.” That holds true with people and businesses. As a site, we're always trying to improve and get better for our readers. And for our readers, our mission is to help them continue to move forward in their journey to gain control of their finances.
What have been some of your achievements that you are most proud of? Why?
Our social media media following has grown significantly since the early days, with a strong presence on Twitter, Facebook, and Instagram. We've also been able to grow our traffic to millions of visitors per month, which has been a true sign of appreciation from our readers.