Banks consider Startups as Opportunity rather than Threat?

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.

Startup Tribe Weekend

Day 1 of the startup tribe weekend.

There was an idea which was similar to mine in regards to property at the startup tribe. Should I be worried? From my point of view, not really as the UX, the algorithm solutions, and specifications are going to be different to mine.

It was a fun day with RF giving the talk and lots of group sessions to help each other generate ideas not specifically into our own projects.

Cheekily using the wifi whilst everyone is drinking cause my wifi at home is unreliable.

Canada Water Cafe, Ebay, Startup Tribe

Slow start to the day. Quick chat on Facebook with SM and ST at around 9am.

A accredited assessor of Energy Performance Certificate popped by the flat for the check at 9.30 am as the landlord is selling the flat.

After the assessment was done headed over to Canada Water Cafe to work on my site whilst waiting to hand over the Golf Putter I sold on ebay.

Stayed at the cafe for about 3 hours and handed over the Golf Putter and decided it was a good time to do some shopping before heading back to the flat for lunch. Popped by Sainsbury’s and the veggie/fruit stand outside the Canada Water Library. Chatted to one of the guys at the veggie/fruit stand and found he was an Afghan. As I had been to the talk the previous night by Tommy from Turqouise Mountain started to talk to him about the cause but probably due to his hard time in the past, he wasn’t ready to open up.

Had a late lunch at home and due to the fact I wasnt feeling well went for a nap.

Headed over to the Startup tribe at Escape for an interesting night of ideas and getting to know the team.

Overall a slow day but I still feel like I achieved a few things.