Inside Intuit: How the Makers of Quicken Beat Microsoft and Revolutionize – GOOD

Inside Intuit: How the Makers of Quicken Beat Microsoft and Revolutionize – GOOD

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Inside Intuit: How the Makers of Quicken Beat Microsoft and Revolutionized Personal Finance

In the world of personal finance software, Intuit’s Quicken has long been a household name. But what many people may not know is the incredible story behind the company’s rise to success and how they managed to beat out tech giant Microsoft in the battle for dominance in the personal finance industry.

Intuit was founded in 1983 by Scott Cook and Tom Proulx with the goal of simplifying the tedious task of managing personal finances. Their flagship product, Quicken, was released in 1984 and quickly became a hit among consumers who were looking for an easy way to track their spending, manage their budgets, and plan for the future.

But Intuit’s success was not without its challenges. In the early 1990s, Microsoft entered the personal finance software market with their own product, Microsoft Money. With their massive resources and brand recognition, many people believed that Microsoft would easily overtake Intuit and become the dominant player in the industry.

However, Intuit was able to hold their own against Microsoft by focusing on their core strengths and continually innovating their product. They listened to their customers, constantly improving Quicken based on feedback and adding new features to stay ahead of the competition.

One of the key factors in Intuit’s success was their commitment to customer service. They provided excellent support to their users, helping them troubleshoot issues and learn how to get the most out of Quicken. This dedication to their customers helped build a loyal fan base that stuck with Intuit even as Microsoft tried to lure them away with flashy marketing campaigns.

In 2009, Intuit made another bold move by launching Mint, a free online personal finance tool that quickly gained a large following. This move not only helped Intuit expand their customer base but also solidified their position as a leader in the personal finance industry.

Today, Intuit continues to innovate and expand their product offerings, with Quicken still holding a strong position in the market. Their story is a testament to the power of dedication, innovation, and putting the customer first. Intuit may have started as an underdog, but they have proven that with the right strategy and a commitment to excellence, any company can beat the odds and revolutionize an industry.
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