As a founder or leadership team, you are setting the vision and agenda for your your company's growth. When you decide to consider possible exit strategies, such as a merger, acquisition or IPO, here are areas that you should be considering for your company and preparing yourself. These comments were from our recent LaunchTalks founder roundtable.
As companies reach a certain point in their growth, an exit strategy can be an important milestone or the next natural stage in the business evolution. It’s important to consider investments that can help to scale the business and expand distribution to get to the next level or bring in new management, for example through a merger, acquisition or capital raising. Here’s a summary of when an exit makes sense and what founders should be thinking about from our recent LaunchTalks founder roundtable.
All too often, fintech companies focus on product without understanding customers. What if customers were at the heart of every aspect of your product design? We interviewed Vicki Zhou, Co-Founder and Co-CEO of WiseBanyan, which has built a successful mission-driven company completely product-focused, but not at the expense of its clients. Here are some insights on their unique approach to growth.
Leveraging a strong brand and client endorsements is a highly effective way to drive organic growth. Increasingly fintech companies are applying this strategy and also seeing the value of doing well by doing good. Vicki Zhou, Co-Founder and Co-CEO of WiseBanyan, has great insights from her experience building WiseBanyan into a great product that is extremely focused on its mission and on customers. Outlined below is WiseBanyan's referral strategy.
Any new initiative requires a launch plan. Preparing properly for a launch in advance can pay dividends in ensuring its success. Here are some guidelines for the pre-launch process.
So it's time to update your website and refresh your brand. How do you make your website redesign process smooth and successful? Here are some lessons learned from our extensive experience updating websites over the past 20 years that we would like to share. Keep these in mind as you approach your website refresh.
Your brand defines how people experience every interaction with you and your company - not just your company name and logo, but every touchpoint that users interact with - from your website to social media platforms to customer service, marketing templates and your tagline. Here are some guidelines for when it may be time to refresh your current brand.
Now is the time to start preparing for year-end and begin planning for the new year. Here are some suggestions for how to build out your plan and focus on growth so that you can maximize your existing resources and be more effective.
Among the most relevant topics today is how to protect an organization from cyberrisk. The issue is important not only for client and proprietary data, but also for preserving one's brand, reputation, financial position and future growth opportunities. A panel of experts shared their perspective on the actions that firms can take to mitigate their exposure within the current market environment and issues that management needs to be thinking about.
While most fintechies are pretty savvy and smarter than the average Joe, when it comes to launching new products, even the most brilliant can run into challenges. Using the latest technology to develop a new product does not guarantee customers will line up to buy it. Many founders often don’t appreciate all the elements needed to successfully scale a business and launch a new product. Many financial technology company’s very strengths – financial and technical expertise – are not the primary skills needed to successfully launch a new initiative or scale a business. Here are challenges that left-brain thinkers may face. Top 3 Mistakes That Can Hold Back Fintech Companies Lack of Customer Insight. A product in search of a customer is not the best way to build a business. A great idea is only the beginning. Every company must determine who actually needs their product, and then more importantly, who is willing to pay for it. Does your product solve an important enough customer problem they will pay you to fix? While many tech startups with innovative solutions (data security, workflow automation, compliance monitoring, data mining among others) get directed to financial services for its market size, potential for disruption and bank technology resources, it may not be the right fit for those who don’t fully understand the market and its regulatory framework. It's important to clarify where a product fits into the overall financial ecosystem and to determine which customers will benefit from your specific solution. Be aware of whether you have developed a complete offering or just a product feature, component or enhancement to a larger business process. Ideally your solution can be used by multiple customer segments, but start to focus initially on one segment to prove that use [...]