My only interests are building startups. I’m not interested in sports, video games, instruments. All I do is go to the gym casually and work on startup ideas. So how do I find problems that everyone else is missing if I have nothing I’m particularly knowledgeable about?
Everyone who starts or owns a business expects to be the best of breed, but only a few achieve that status. As a startup mentor and advisor, I often contemplate what makes the difference between winners and losers. I’m convinced that it’s a lot more than the foibles of any specific market, availability of funding, and just luck of the draw. I believe the best make their own luck.
I’ve noticed that the top performers in business, as in most other professions, have a common set of traits in the way they think, as well as act. So if you aspire to be the next Jeff Bezos or Bill Gates in business, you might want to compare the following traits to your own, and focus on adopting the ones you don’t have, as much as you focus on your next idea to change the world:
Figure out first what you most want to achieve in life. I find business people all around me who are working hard to make more money, when what they really want is a work-life balance that allows them to enjoy family and help others. I advise them to find their personal passion, rather than trying to achieve someone else’s view of success.
Stop dreaming about your passion and start acting on it. Too many aspiring entrepreneurs I know are very quick to come up with new ideas, but are not so quick on the execution side. To be successful in business, you need a high focus on results, as well as thinking. Business implementation requires determination and never giving up.
Constantly strive to learn new things and do things better. The best of you see yourselves as lifelong learners, and able to adapt to change, no matter what your age or level of experience. Always keep looking for ways to improve and grow, rather than ways to slow down and let the business run itself. In other words, stay hungry and humble.
Face and conquer your fear of a step into the unknown. Average business people push their fears ahead of them, and never make the next big step. We all have fears of the unknown, but the best of you will document the challenges ahead of you, and tackle them one by one with a plan, getting the help and learning from each success and failure.
Build relationships to complement your strengths. We all have strengths and weaknesses, so don’t be fooled by your ego. Starting and running a business is not a solo operation, so building the right relationships is key. Capitalize on these relationships by listening well and delegating well. Tap into the strengths of others to fill your gaps.
The relationship between Bill Gates and Warren Buffett is a prime example. While they have always been in totally different businesses, both still give much credit to the other for their own success. They have long been good friends and learned from each other.
Grow yourself by growing the people around you. The best business people are also the best mentors and coaches. They are not afraid of giving someone a lead or inspiring them to move on to bigger and better things. By helping others, you become stronger in your eyes as well as theirs. They may someday be able to come back and pull you along.
Sir Richard Branson, founder of Virgin Atlantic and the Virgin Group, now controls more than 400 companies in various fields. He attributes much of his success to his focus on growing the best people, and giving them the opportunity to run his new companies.
Strive to build a legacy as well as a business. Leaving a legacy larger than your business requires that you keep a focus on the bigger picture. The best business people not only build a successful business, but they change the world – perhaps by improving the environment, helping the less fortunate, or fostering a disruptive technology.
According to many people who know him, Elon Musk has always put a higher purpose above making money. His focus on SpaceX, Tesla, Solar City, and other initiatives all have a large component of “shaping the future,” as well as meeting business objectives.
I believe these traits of proven top performers in business, as well as other professions, are the keys to success that you must emulate, even more than finding that unique innovation or huge untapped market opportunity. Above all, it’s important to move quickly from thinking to doing, learn from your mistakes, and recognize when it’s time to pivot as the world changes around you.
*** First published on Inc.com on 10/08/2020 ***
With interest rates on savings accounts dropping to half of what they were just a year ago, many savers are eager to find a bank that offers an annual percentage yield (APY) of more than 1%. For those looking to earn more on their savings, your best bet is to head online. The all-mobile Varo Money, Inc. is a San Francisco-based national bank founded in 2015.
Read more here.
The post [Varo Money in CNBC] This is the best high-yield savings account for earning and saving more money appeared first on OurCrowd Blog.
As a fairly new startup with only a handful of clients on our SaaS platform, we want to make sure our method of logging for tech support and business insights is good before we scale. We have some basic logging going for our application to AWS Cloudwatch; however it's already becoming difficult to conceptualise how we're going to run analytics on these logs as they build to give us up-to-date, actionable data to find frequent issues, trends, peak times, etc.
We'd obviously love to have this data be real-time, but it seems too costly, so maybe running these as cron jobs is better? But it still feels odd and not very scalable.
We could be putting this data into a SQL DB and query that, but does log data belong in a database and is it scalable?
We're now questioning if logging to cloudwatch is the right move.
I'd love to hear how some of you handle this kind of thing.
In the world of software development, one term you’re sure to hear a lot of is full-stack development. Job recruiters are constantly posting open positions for full-stack developers and the industry is abuzz with this in-demand title.
But what does full-stack actually mean?
Simply put, it’s the development on the client-side (front end) and the server-side (back end) of software. Full-stack developers are jacks of all trades as they work with the design aspect of software the client interacts with as well as the coding and structuring of the server end.
In a time when technological requirements are rapidly evolving and companies may not be able to afford a full team of developers, software developers that know both the front end and back end are essential.
In response to the coronavirus pandemic, the ability to do full-stack development can make engineers extremely marketable as companies across all industries migrate their businesses to a virtual world. Those who can quickly develop and deliver software projects thanks to full-stack methods have the best shot to be at the top of a company’s or client’s wish list.
Becoming a full-stack developer
So how can you become a full-stack engineer and what are the expectations? In most working environments, you won’t be expected to have absolute expertise on every single platform or language. However, it will be presumed that you know enough to understand and can solve problems on both ends of software development.
Full-stack is becoming the default way to develop, so much so that some in the software engineering community argue whether or not the term is redundant. As the lines between the front end and back end blur with evolving tech, developers are now being expected to work more frequently on all aspects of the software. However, developers will likely have one specialty where they excel while being good in other areas and a novice at some things….and that’s OK.
Since full-stack developers can communicate with each side of a development team, they’re invaluable to saving time and avoiding confusion on a project.
One common argument against full stack is that, in theory, developers who can do everything may not do one thing at an expert level. But there’s no hard or fast rule saying you can’t be a master at coding and also learn front-end techniques or vice versa.
Choosing between full-stack and DevOps
One hold up you may have before diving into full-stack is you’re also mulling over the option to become a DevOps engineer. There are certainly similarities among both professions, including good salaries and the ultimate goal of producing software as quickly as possible without errors. As with full-stack developers, DevOps engineers are also becoming more in demand because of the flexibility they offer a company.
I'm wondering if any of you has any recommendation on the best approach to get into a Startup as an employee and shareholder. Any personal experience ?
If I really like the product/service, I'd be willing to invest a good sum as well.
A bit about my BG: I'm currently attaining a MSc. in Marketing Analytics in the UK and I have worked two years in digital marketing for a company based in SE Asia.
Thanks a lot 🙏