Why we're making apqa

Setting out to create a new mobile app might sound a bit ridiculous. After all, there are over eight million apps out there. Does the world need another one? Surely not! Fortunately we did not set out to make an app.

Our goal is to help 100 million people attain financial well-being!

The fact that we decided to make an app is only part of the story. We just think an app will be an amazing vessel to get the story out there and give a really great tool, which will help people.

I know the app isn’t even out now- believe me it’s close, yet the first version isn’t going to be revolutionary. Still it does have an ace up its sleeve. In contrast to its competition it’s absolutely free. And I think this is something very important, as our goal is to really help people, not just create a commercial product which will sell great. We want to transform lives, transform your reality. Right now it’s an app, but also this blog and in the future social media content and then even more.

Technology may change, but our goal stays the same.

Obviously you don’t need to pay to read this blog and we think the same should be true of the app. Tools to create a better financial future should be free and publicly available to everyone. They should also be taught in schools, but that’s a totally different subject. 

We do have a premium version planned in the future, yet we feel all the core functionality has to be freel. 100 million people is a lot. Yes, we know. How do we even get there?

Simplicity

You can’t expect mass adoption with an overly complex product. In order for it to be usable we need something very simple and intuitive. Combining these two qualities will allow us to appeal to a broad range of users, if our app is something people are looking for.

So is it the answer to a common problem? The large number of private finance apps seems to steer us to a positive answer and there are probably over a billion people interested in improving their finances and learning about it. Obviously the problem is well recognized and there are multiple companies and organizations trying to solve it. Why on earth would we want to compete with them?

“Competition is for losers” Peter Thiel

Early on in my career I realized that competition is not the way to go for most. Then I heard about Peter Theil’s famous phrase “Competition is for losers'', which deeply resonates with me. I am a competitive person, but I believe the best way to win the game is through differentiation and smarter solutions, not trying to outwork the rest or lower your prices. 

And so we’re not making a clone of the thousands of private finance apps, which are out there. Our solution is a holistic approach to human growth. Finances are not something separate from us. In a free country they’re a part of our manifestation of life. 

Our goal is to help you manifest yourself freely and successfully especially in financial terms. As we all know money has a gigantic influence on the quality of life, but recent research found that it is also strongly correlated to the feeling of happiness, until we hit a certain threshold.

Creating an app, which will just count your budgets and spending is not a solution as finances are a very emotional subject and also your habits, knowledge, upbringing and life experiences have a profound effect on them. So what’s the solution?

Unfortunately we think it’s quite a complex one, which contradicts a simple solution. We believe this is partly why the market is so fragmented. There are thousands of players offering different solutions to a similar problem. Our take is to offer a holistic approach in mini form and gradually build based on it. By saying this I mean, we want to offer a budgeting, tracking, wellness and tutoring app all under one roof and make it simple to use and so we don’t see much competition in this space.

The Road

Our team is lean and driven, with a few passionate volunteers and myself fully dedicated for the past 6 months. Upon launch, we'll surely seek investors or accelerator support to fuel our growth, once we see our metrics and understand a bit more of the market dynamic. We're confident our app has a disruptive potential.

What’s more, our research shows that there’s a massive demand for a good financial app offered at a fraction of the average cost of $100-$150y. We think that millions are seeking such a solution. An overwhelming 70-80% of people express interest after understanding our app's value, so closing this gap is key to unlocking our app's potential.

By setting our targets very high we naturally open up to new solutions, steer towards a growth mindset and encourage others to join. We’d love to hear from you! 

Have a good one,
Tomasz