Smart Retirement Made Easy!
Nick May discusses his journey in developing Evolve My Retirement, a financial planning software that utilizes optimization algorithms and Monte Carlo simulations to help users plan for retirement. He shares insights on the challenges of marketing the software, integrating AI, and the importance of user feedback in evolving the product.
He emphasizes the significance of understanding user needs and being responsive to feedback for entrepreneurial success.
Takeaways
• Evolve My Retirement was born from a need for better retirement planning tools.
• The software uses optimization algorithms and Monte Carlo simulations.
• User feedback has been crucial in evolving the product.
• Traction and user acquisition are significant challenges for online products.
• Integrating AI has enhanced the user experience and support.
• Understanding the target user base is critical for product success.
• The software is tailored to the UK tax system but aims for broader adaptability.
• A nominal subscription fee makes the software accessible to many users.
• The importance of being responsive to user feedback cannot be overstated.
• Entrepreneurs should not be afraid to launch early and iterate based on feedback.
Sound Bites
• It's just a long long vacation.
• We've added a new AI component.
• It's a no-brainer.
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