In the American Banker there was an article with the subject Banks lean on startups to bolster their digital futures. Citigroup and other banks are increasingly looking to startups to help them compete in a world where tech firms such as Google, Apple are becoming potential threats. This is an interesting article where Banks have realised the importance of the disruption scene. We hope more focus is put onto this subject and banks realise the importance of technology. Banks have been cutting their budget on internal Technology teams as they consider it to be a cost center rather than teams to bolster/improve their success in the future.
Lloyds’ Strategy Director has said “Competition from tech firms and startups is ‘opportunity’ rather than threat”. Lloyds have recently been outperforming the other UK banks and seem to be on the right paths. The Director said “there is a lot we can learn from each other” in regards to new competitors. The big four UK banks are going through restructuring. Adopting, improving efficiency and being more innovative are going to be key topics for them.
A good three point guide to Startups can be found in the Entrepreneur in the article with subject “Startups: Don’t Make These 3 Financial Mistakes”
For a good read, LinkedIn has an article with subject 5 Lessons From 30 Days @ LinkedIn. It has 5 key points which we wish everyone in the World would consider whilst working.
Losing a co-founder.. Its better to say No
This weekend started off with Bad News. Losing a Co-founder for the Startup, I was starting. The Co-Founder was unable to commit on the Property Project for this present moment in time. I am going to learn more into the Technical side of our project as previously before I was spending my time on research, design and potential marketing. In regards to the Co-founder, I will give him space, support and time to see if he would be interested in coming back onto the project when the time suits him better. He is a great Asset to have in the team. He is driven and provides ample technical knowledge.
Second Bad News: I was meant to move properties today, but I have been unable to this because a friend, who was meant to help me move cancelled in the last minute. I was not impressed in the manner of how my friend had cancelled and sent a message about prioritising, organising and committing to help out, whilst expressing my disappointment. Hopefully he will think about why I was disappointed and how he can improve the next time he decides to help. Its certainly better to say No or not offer to help, than offer to help and then cancel in the last minute.
Overall a disappointing weekend in terms of the business and personal life but things keep going and Im actually feeling quite calm considering the 2 set backs.