Financial tech entrepreneur Eric Blue continues to develop a mobile app based on his successful Nevly Money offering. Launching this year, the app will help clients handle their money and advance their financial knowledge while on the go. Known as the Nevly app, the mission is to provide tools to help people improve their financial health and reach financial freedom.
What started as a passion project for Blue has evolved into a small team making constant improvements ranging from better performance to new feature development. Blue’s focus remains to make life easier for every user.
The Nevly Origin Story
Eric Blue worked as an attorney and senior finance professional at different stages of his career. He was motivated to create a better financial situation for himself from an early age, and these jobs were pathways to a great paycheck. Growing up without much money and seeing his single mother struggling to make ends meet made him curious about crafting a better life for himself. Excellence in the classroom got him through undergraduate and law school, setting the stage for several outstanding career opportunities.
Despite success at well-respected places like Lehman Brothers, Akin, Gump, Strauss Hauer & Feld LLP, and Baker McKenzie, Blue needed more. He never felt he was making enough of an impact on helping others. He wanted to use his knowledge to help others avoid similar situations, starting with teaching basic financial principles. That’s when a personal finance super app started to intrigue him.
Spending his own money and all the free time he could find, Nevly started to take form in 2020. By 2021, Eric Blue was ready to launch the web-based version and enter a new career.
Setting the Tone for a Strong Team
Every entrepreneur wants to reach a point where their idea needs more than one person working on it. Eric Blue finally realized it was time to build a team to reach customer demand. That team needed to have the same passion as Blue to deliver his expected quality of service.
As discussed in a recent IdeaMensch interview, a typical day for Eric Blue includes getting up early and taking care of himself before jumping into the workday. While long hours can seem overwhelming, he describes being able to stay inspired by having the chance to build something that can make an impact beyond just a paycheck. A noticeable impact of helping others avoid financial ruin is a massive motivator for Blue.
To better motivate employees, Eric Blue found that the Hybrid 2.0 Working Model works best. This is when Mondays act as work-from-home days, and everyone on the team goes into the office on Tuesdays, Wednesdays, and Thursdays. After a productive three days in the office, Fridays are part of the weekend.
A lot of work goes into those days in the office, but employees don’t have to feel overwhelmed by a typical work week. Getting the opportunity to have long weekend breaks keeps employees ready to go when returning to work.
Blue also believes in focusing on his company’s North Star to improve the business. The philosophy behind a company‘s North Star is that every decision revolves around keeping the business going in a favorable direction.
Helping With Financial Stability
Many people worldwide face similar struggles to what Eric Blue experienced when he was young. Even though his mom started working regularly and putting in long hours to pay bills, she could never get to a level of financial stability where she felt secure. Much of that relates to a lack of knowledge and education regarding personal finances.
Better financial stability helps people avoid relying on loans or handouts from others. It also impacts a person physically and mentally when they don’t have to worry about how to pay for upcoming bills. Stress comes from all aspects of life, and reducing it on the financial side can help tremendously.
With financial stability, individuals can weather fluctuations in the market better. For example, it’s getting harder to rent or buy housing these days. Inflation means less money in circulation and higher interest rates. Someone’s ability to afford a place to live now looks drastically different than it did in the past. But improving financial stability gives people more options.
Financial stability matters a lot for those wanting to retire at some point. Too many people currently face the reality of never getting a chance to retire. They don’t have the stability and savings they need. Starting to save for retirement now will pay off decades later, especially if a person learns sound financial principles to help them invest and save wisely.
Nevly strives to assist in numerous ways. Whether building credit, budgeting money, paying bills, or starting with an asset growth program, Nevly consistently finds new ways to help with financial stability. Knowing how finances work can make a difference. It puts the tools in the hands of members so they can learn at their pace.
While Nevly’s off to a great start, Eric Blue has plans for a mobile app version set to release in 2023. He believes new features should consistently be added to intrigue new members while keeping existing members satisfied.
Starting with a strong foundation helps any business. Eric Blue took the time to create Nevly carefully, and he’s pleased with where it stands. It’s already impacted people all over the United States, and they’re just getting started.
Hearing individual stories from members brings him back to those early days of his life. With members getting a chance to figure out finances earlier than he did, Blue’s finally experiencing the type of impact on others that he’s searched for his entire professional career.
Nevly’s not a finished product. To stay competitive in the niche market, there will always be new tools and minor improvements to help improve personal financial health. Spending time on a solid foundation now has Blue confident in Nevly long-term.