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Pulling in the moola
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Robert Quarshie
Financial Mail
Friday, February 26, 2010
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Yusuf Moola founded his business, Moola Technologies, in 2008, after he quit his job at an established IT company so he could spend more time with his children.
Once set up, he worked on a retainer from Omnicor, now his major client. This gave him some financial security during the recession but was also risky , as the work could have ballooned while the retainer stayed the same.
He often competes with bigger companies for work. "Luckily my marketing is basically done by word of mouth, on a minimal budget."
It seems to be working: "One year of business after a 30% salary drop and I broke the R1m turnover mark." Moola Technologies's niche is the relatively underserved small and medium enterprise market.
With a background in computer science, Moola capitalised on his networks from his Wits University days, which is also where he met his wife.
She is now a 50% partner in the company. Moola's first job was at Coopers & Lybrand (now PricewaterhouseCoopers) in 1996, where he was instrumental in developing its first website.
His core skill is the development and programming of Internet-based applications, allowing companies to interact with their customers online, cutting costs in the process .
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