3 Things Fintech Startups Should Learn From Big Tech Companies: Now, it is a norm to hear people saying they are going to leave their jobs in Apple or Google to start their own business in fintech. That’s certainly a course of action that many entrepreneurs are determined to take in order to get more benefits. For this reason, this “switch” is currently something common. But what are things can these folks take to fintech? What aspects make this transition successful? Here are some aspects that every new adventurer should learn from big tech firms like Apple.
This is essential because you just can’t afford to be lost at sea, drifting to and fro without a clear idea in mind about the mission of your company. Indeed, this is one of Google’s mottos: the mission is a priority. Bear in mind that big companies don’t have an individualistic spirit; instead, they encourage their employees to team up to run the business the right way. In other words, the mission must be designed in such manner that others can contribute as well. For startups this aspect is vital, considering that it’s a great opportunity to recruit new blood with special skills.
Another thing that young entrepreneurs can learn from big businesses is the importance of a platform build-up. In brief, each company should count on a platform because it will enhance the ecosystem. It is better to create a business model that doesn’t compete directly with other participants but benefits them some way. This strategy has a stronger impact on the industry making the odds stack in your favor. To put it simple, draw other competitors into your brand. Connect sellers and services. By doing so, the startup won’t be affected by any sudden changes and will rarely go through disruptions. Android and Amazon are the clearest example of such amazing working method.
3-Use Your Network
Bear in mind that the only way to make others participate in your mission is by connecting them through a network. When somebody leaves a big company to start off their own journey, they don’t forget the lessons they learned in their former jobs. They actually take them as an example to run their startups and make them grow. For instance, the Xoogler community is made up of a group of engineers who used to work for Google but are now cooperating with each other with the essential aid from Google. In a nutshell, breaking away from your ex co-workers to venture into your business is not wise at all. Ask for assistance every time you need it instead.