Who Else Wants To Make Great Decisions?

Startup

Tell us about your business?

Finder.com.au is an online comparison website for Australian consumers. Our core purpose is to help people make informed decisions with financial products such as credit cards, home loans, mobile phones, personal loans, savings accounts, life insurance and broadband. A one stop shop of resourceful information and tools that make comparing easier and faster.

Why did you start up your business?

I sold my first company and built Finder.com.au with the other director Frank Restuccia. We were inspired to enter the financial comparison space when we realised that Australians can save more and be  savvy with their money. In the previous company we used to market the banks and large telcos products and we also realised that it was really difficult to get the information that you needed as a consumer to make a great decision. So instead of marketing someone elses product and wading through corporate red tape we decided to do it ourselves and help people compare products online. We created a free service that compares financial products to help Australian consumers switch, save and avoid traps.

What are the major hurdles you experienced when starting your business?

This was our 2nd business and so we had a lot less hurdles in establishing the business. Our real struggles were mainly around growing and how to do that fast. We spent most of our time just doing the same things over and over again because it was working and it grew the bottom line. Managing the growth and building structure and processes around a new business was the real challenge. The model itself worked and the business was profitable from the start.

What tips can you give other SavvySME members that are thinking or in the process of starting their own business?

Be straight up with yourself- Do you have the passion and commitment to run your own business? If you don’t, get a job and benefit from another business’s success. Make $1 of profit - The single most important focus that you need when you start a business is to make $1 of profit. Prepare yourself for some unpleasantries- It might not be as easy as you think it is when you start out. Be prepared that you might not get the answer you want and keep pushing through for the end goal. Be relentlessly persistant!

What made you decide to take the jump and focus on your business?

I started my first business at university and never turned back. Doing my own thing has always been my way of doing things. I am not really a follower, I prefer to create. I knew that if I built this business it would help Australians make great decisions and save some money. That makes me also feel good about myself, knowing that we are genuinely helping Australians.

How did your family and friends react?


My family and friends have only known me when I am working in my own business so they thought it was just normal.

How has your life changed?


Finder.com.au is a great company that delivers real impact and help to Australians. Since we started this business I feel I have turned a bit of a corner and started focusing on really making a dent in the universe by helping people. The previous company had a little soul as it was B2B, this one is direct to the customer.

What is the vision for your business going forward?

Our 5 year goal is to make Finder another word for comparison in Australia. In 10 years we want to have changed the way Australians make decisions from being just stick with your current provider to 1st comparing what is out there.

What tips can you give other SavvySME about motivating yourself to push through the challenges that rise up while building your start-up?

Be persistent -  There are plenty of obstacles you will have to push through to lift your business off the ground. You have a responsibility to your team and your business to overcome these challenges, put  everything in to get the business up and running. Your team has your back - It is crucial to have a team that can share your values and the values of the business. Having an A team you can trust will improve your business in more ways than one. Innovate and dominate - Come up with new ideas that will differentiate you from the rest. I encourage my team to do this everyday for every niche.

Fred Schebesta

Fred Schebesta

Director at Finder.com.au

I am an Internet business veteran in Australia and and one of the directors of Finder.com.au, which was founded in 2006 launching one of Australia's first credit card comparison websites. We have recently branched out to comparing savings accounts, and home loans, as well as a dedicated life insurance comparison and personal loan comparison website.


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Comments (2)

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Phil Khor

Phil Khor , Founder at SavvySME

Thanks Fred. Great article! I like that tip about focusing on making $1 profit.

Nick Chernih

Nick Chernih , Founder at LinkBuildSEO

Great post Fred.