October 22, 2019

Why pesatime was created

Mutinda Boniface @mutinda

Why I created pesatime?
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This was purely driven by my own needs to have a super simple online Accounting Software to manage my financial hell running several products.

This is my story.
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I am an Entrepreneur (Software Engineer with a keen eye on UI/UX) but I prefer calling myself s "Product creator".
If you can relate to the life on an entrepreneur creating a series of MVP's. Sometimes you end up paying for a bunch of services(e.g. buying domains, server bills, trips to attend a startup pitch event etc) and if not careful end up spending on never ending bills for products that don't seem to be getting any traction.
Since you don't have the visibility of how much you are spending on these services for X products, it's hard to say you are done with the product and shutdown.

I have been in this situation for a long time, I have launched and shutdown several products but if you ask me today how much I spend on each of these products, I just cant keep track.

To get organised, I evaluated several Online Accounting Softwares and none of them seemed to solve my problem. Majority of them have an Invoice like kind of a model which doesn't apply to my case.
I also run a commission based music platform(A Spotify like for the African music) and I wanted to keep track of how much I am getting in realtime from more than 3 streams of revenue.

With all these challenges, I opted to create an excel spreadsheet and populate it manually at the end of the day. I could have automated this but evaluating the time it would take me to do the job and given that my "financial records" excel keeps changing based on daily learnings, it wasn't worth it.

Instead, I decided to create a simple solution that is flexible enough to handle all these and after using it internally for like a month, i decided to package it as a SAAS product as "pesatime"

Today's Top Milestones
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    Last week I was invited to be interviewed for Scottish Business Podcast - a relatively new podcast that covers Scotland-based businesses. The host was
  • 3 weeks until a wide release beta!
    You may wonder, if you read the previous update, on why a nearly done MVP, is still awaiting to a Beta release. The answer is really two-fold. First,
  • $100 MRR!
    With a couple of new customers yesterday, ilo.so is now at $135 MRR. This is a big milestone for me. By selling a number of lifetime deals, ilo has al