Gen Y Can Be Entrepreneurs Too

Financial planning doesn't have to be staid and boring, especially if you are a young entrepreneur in a small business. If you can't sustain an entire accounting department, a small business owner's only choice is to maintain your finances through one of the off-the-shelf products such as Quicken or MS Money. This week Jessica Stillman over at BNET's Entry-Level Rebel talked to mint.com founder Aaron Patzer who sold his financial planning company to Intuit two months ago. Patzer discovered that most financial planning tools were for the 40 to 60 year-old set.

As a young entrepreneur, starting up a financial services company for young people, there were many features Patzer fought for and became a better leader because of the experience:

• Setting up an online product that did not overwhelm you with choices. It is your money after all. No one wants to make the wrong move.
• Getting a snapshot of your finances not matter how you access them – online, through email or over your mobile phone or device.
• Insisting he remain the CEO of the company even though he was 25 years old and was encouraged to step aside.
• Pitch the same whether you are talking to young people or older potential investors, just use testimonials older investors will recognize for credibility.
• Turn the risk into an asset. If mint.com had all your bank cards and credit card information, they can detect fraud better.

Read the entire article at Entry-Level Rebel.