We are thrilled to announce the 10 extraordinary teams that are joining the Barclays Accelerator, powered by Techstars Tel Aviv today, March 31. Three months of hard work in the world’s “Startup Nation” is awaiting the class of 2019.
Tomorrow Israel’s top investors and mentors will come together at the vibrant Rise Tel-Aviv office space to celebrate the kickoff of the fourth Barclays Accelerator, powered by Techstars in Tel Aviv.
For the next 13 weeks, these 10 teams will work in the beating heart of one of the world’s most modern and tech-oriented cities: Tel Aviv, Israel. While connecting and interacting firsthand with successful entrepreneurs, these founders will have the opportunity to build and grow their startups in preparation for Demo Day on June 26, 2019.
The 2019 class is a multicultural assembly of talented teams, representing seven countries including Israel, U.K., India, Canada, Singapore, Belarus, and Finland. Together with our incredible mentors and Barclays executives, we are excited to support another class of companies in their goal of disrupting the Fintech industry.
We thank our generous mentors, sponsors, partners, and alumni, who continuously provide support with their time, knowledge, and passion. And a special thanks to the team at Barclays for their true commitment to the success of our partnership. The Barclays Accelerator, powered by Techstars Tel Aviv 2019 promises to be another year of triumph and success.
The 10 Companies of the Barclays Accelerator, powered by Techstars 2019 Tel Aviv class are:
B2B Marketplace for Peripheral Purchasing
C2B Direct Payment Solution
Early Automated Detection of Market-impacting Events for Financial Traders
End-to-end Investment Platform for Revenue-based Financing
A Fintech Platform for Guaranteed Retirement Income
Modern Banking for Cooperative Credit Societies in India
Leveraging Loyalty to Access High-quality Content and Services
Technology-Enabled Consumer Lending as an Employee Benefit
Radical Reinvention of Individual-institution Reporting, Starting with Taxes
Data Protection for All Data in Any Scenario
The Barclays Accelerator, powered by Techstars in Tel Aviv is a program managed by Hilla Ovil-Brenner and Franka Godina together with a strong team of associates and interns from all over the world. The Rise building, in the heart of Tel Aviv, is the bee-hive where all the commotion happens.
“You have to, to serve these markets, re-imagine how money can be managed and moved because there’s going to be more change in the next five years in financial services than happened in the past 30.”
-Dan Schulman, CEO PayPal
Applications are now open to join the Barclays Tel Aviv Accelerator, powered by Techstars. The program will start March 31, 2019 and end with a Demo Day on July 2, 2019. Applications close December 16, 2018. You can start your application now, and keep reading for more information about meeting us and hearing from alumni founders!
Fintech is on the Rise
The demand for innovative Fintech solutions and investments in this field are increasing every year. The world of capital markets and banking is evolving thanks to innovative Fintech developments, and experts predict this will only continue to grow in the coming years. According to Innovate Finance, China had $7.7 billion in Fintech investments, the US had $6.2 billion, and the UK had $783 million.
The Barclays Accelerator: Who Is It For?
Techstars has partnered with Barclays to create an accelerator ideal for passionate entrepreneurs with a knack for tackling difficult challenges and going after impressive opportunities. The Barclays Accelerator, powered by Techstars, is looking for FinTech startups working on blockchain, open banking, risk management, payments, cyber security, AI, machine learning, or big data.
Participants benefit from access to a global network of entrepreneurs, successful and inspiring mentors, and access to investors and potential corporate partners. The Barclays Accelerator is held in Tel Aviv, the heart of the Startup Nation. It is one of the best places to build a startup, network with fellow founders and experts, and learn from the best and brightest mentors as you grow and develop the skills you need for long-term success.
Techstars’ Global Track Record
Techstars’ network helps entrepreneurs in 150+ countries and features over 10,000 mentors, 300,000 alumni, and 4000 events. Over 1500 companies have participated in Techstars accelerators, and 90% of them are still active or acquired with total funding of $5.8 billion and a market cap of over $16.1 billion.
What Founders say About Their Experience
Founders appreciate and value our work. Here is what some are saying about our program:
“We love Techstars! Really. This program gave us so much – an amazing support team,
great content, smart people, a wonderful network of companies and founders that we feel so close to, and most importantly – a boost to help us grow the company.
We could not be happier to have chosen this path – and look forward to ringing the Nasdaq bell together!” – Ben Fried, CEO Cred
“Techstars has been a great experience for our founding team and we are looking forward to being part of the network for life.” – Melissa Koch, CEO InFront Compliance
“The program is a worldwide quality accelerator! it improve our business to the next level.” – Christian Torres, CEO Kriptos
“Techstars really helped us create a super relevant network for our business within three months.” – Yaacov Goldenhersh, CEO LiST
“The entire StremX team is grateful for this amazing opportunity and we truly believe that this program help us move forward in our dreams of creating a successful startup!” – Itai Cohen, CEO StremX
Meet the Team
Myself, Hilla Ovil Brenner, the Managing Director here in Tel Aviv and Franka Godina the accelerator’s Program Manager that leaves no problem unsolved, are excited to meet you. We are holding office hours in Tel Aviv, Berlin, Munich, Singapore, Tallinn, Oakland and remotely through Google Hangouts. If you’d like to meet with us, please check out the date and times below, and fill out this meeting request form.
- Remote on Hangouts – October through December
- Sardegna: 11th-12th of October
- Oakland: 22nd-24th of October
- Singapore: 12th-16th of November
- Tallinn: 20th-23rd of November
- Berlin, Munich, Vienna: late November, early December
Ready to apply? Get started now. Applications close December 16th! If you have any questions, take 14 minutes to listen to my webinar about the program.
We are thrilled to announce and welcome the next ten companies to the 2018 Barclays Accelerator, powered by Techstars in Tel Aviv. Today is the first day of the program that will run for the next 15 weeks. Demo day will take place on the 5th of September 2018 in Tel Aviv.
The program brings together two powerful networks: Barclays, who is shaping the banking landscape and quickly making itself the first partner of choice for the most promising FinTech companies, and Techstars, the worldwide network that helps entrepreneurs succeed. The 1300 portfolio companies of Techstars have raised over $4.6 billion in capital and 139 have been acquired. Together, Barclays and Techstars give founders the best chance for success.
Being a serial entrepreneur myself, I truly understand the value of having a true, worldwide network aimed at helping entrepreneurs succeed.
In addition to being selective, this program is remarkably global and diverse. Incredible Israeli founders will be joined by entrepreneurs from Montenegro, Ecuador, India, Italy and the USA. They were selected from an applicant pool focused on next generation technology for the financial services industry. Companies in this class have launched exciting businesses using technology to address opportunities in options trading, compliance, cyber-security, open banking, supply chain, legal, payments, insurance, property management and lending.
I’d like to thank our mentors, sponsors, partners and alumni for their generous support. We look forward to another great class!
Cred helps financial institutions personalize their investment offering. As each retail investor accepts, rejects, and tweaks their suggested portfolio and underlying equities, Cred’s future suggestions become more accurate.
Cubbit is the first cloud provider that does not need expensive, polluting server farms. Thanks to our award-winning p2p technology and the power of sharing economy, we transform the unused internet resources of users into encrypted cloud services for SMEs.
Automating the full lifecycle of a homebuyers experience from application to underwriting and closing/funding on the blockchain.
InFront Compliance is building a collaborative compliance platform that helps enterprise and their vendors keep pace with innovation.
Kriptos is a sophisticated software that classifies and labels company information using Artificial Intelligence. Obtains the probability of data loss, measures the economic impact of data loss and generates policies of use.
LiST dramatically expands the Life Settlement space by creating a new and efficient marketplace offering investors of all sizes the opportunity to freely enter the LS market and invest in a transparent, diversified and highly liquid format while simultaneously helping the policy owners to maximize the value of their policy.
We are developing an AI-based fintech software solution for optimizing investments in renewable generation and energy storage.
Mobile-centric insurance for farmers in emerging markets. OKO aims to provide over 2 billion farmers with an affordable and efficient insurance against droughts and excessive rainfall.
The SafeHouse Secure Cloud can protect any device that it is connected to it. It sits as the first point of contact to the Internet for all traffic that is passing through it; using a combination of homegrown and existing cyber capabilities, and AI – driven analytics we are able to detect and prevent cyber threats in real-time.
An AI platform that can read and understand customer contracts just as humans do.
As a serial entrepreneur, I’ve taken many remarkable paths in my life – but I’m about to start my most exciting venture yet.
I am pleased to announce that I am taking over the Barclays Accelerator, Powered by Techstars in Tel Aviv as managing director. Working alongside Program Manager Yasmin Nachum, we are going to support our class of exceptional founders to help them accelerate their companies, tap into the industry and receive mentorship and insight from Barclays.
Before I found my passion in entrepreneurship, I completed two law degrees and practiced law in Israel and NYC. More recently, I was the CEO and co-founder of the publicly traded company White Smoke, Inc. While at White Smoke, we invented a sophisticated grammar engine that was adopted by over 50 million users around the world.
But my entrepreneurial experience doesn’t end there. During my life, I have raised over $40 million, built teams from the ground up, learned the ins and outs of business models, management, and the best part – making dreams become reality.
I sit on several tech advisory boards, I’m an investor, a mentor to multiple accelerators, and am continuing to become deeply embedded in the startup arena. Last year, I had the honor of being nominated one of the most influential people in tech by GeekTime, a leading Israeli website.
Another passion of mine is supporting women entrepreneurs. I am the founder of Yazamiyot, Israel’s largest community for women entrepreneurs, as well as Campus for Moms in Collaboration with Google, an international innovation program for moms on maternity leave.
What I’m Looking Forward to the Most
Discovering the Big Idea – The word innovation gets thrown around in the startup world, but I truly can’t get enough of it. I’m excited to discover great ideas that are in Israel and beyond. Two world changing ideas stemmed from Israel, Waze and Gett. How did we ever get anywhere before Waze? How did we think of ordering a taxi before Gett? I’m thrilled to work with Techstars to turn ideas into successful companies.
Building Great Teams – Techstars says that they look for five things when selecting companies to join their programs: team, team, team, market, and idea. In that order. I’m a great believer in people, and am looking forward to working with founders, partners and investors to form strong companies and even stronger teams.
Helping Entrepreneurs – As I mentioned before, I love being an entrepreneur, but I love coaching others. There’s nothing more satisfying than hearing founders say they were influenced by my advice. I can’t wait to work with all of our companies in the program, and use my experience to help them grow.
So let’s do this. Let’s draw in the best companies and mentors from all over the world to create a pool of successful fintech entrepreneurs. Let’s work with amazing partners like Barclays and grow the Techstars worldwide network.
The unique partnership between Barclays and Techstars brings two networks together into one mentorship-driven accelerator program that offers entrepreneurs unprecedented access to a world leading bank and Techstars’ international mentor and investor relationships.
Barclays is a multinational bank with a network of open innovation hubs across the globe. Our hand-picked companies will be working side-by-side with Barclays to explore meaningful engagement and partnership opportunities on a long-term basis.
The companies in our program will have the opportunity to tap into Barclays data/APIs relevant to their test-case, close mentorship and connection to Barclays network of subject experts and investors, support in navigating Barclays teams and governance from Group Innovation, and even free workspace at the Rise workspace for three months after the program.
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders and their teams connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners to help their companies grow.
With an accelerator portfolio market cap of more than $10 billion, Techstars has 34 accelerators and thousands of Techstars Startup Program events in nearly 170 countries.
Each year, we choose over 300 companies to join our three month mentorship-driven accelerator, investing $120K and providing hands-on mentorship and access to the Techstars Network for life.
Local and international applications are welcome! 10 companies will ultimately be selected to come to Tel Aviv for our 13 week program. In the past, we had teams from New York, London, Berlin and Helsinki who moved to Tel Aviv to participate in our accelerator.
We believe that exceptional teams create game changing companies. So more than anything, we seek awesome founders with innovative startups. The areas that interest us include:
Payments, Distributed Ledger Technology, Cyber Security, IOT, Cloud, ID and Biometrics, Capital Markets technologies, AI and Machine Learning, Voice and NLP, Open banking and APIs, Robotic Process Automation, RegTech, Risk Management and Customer Ecosystem.
We would also love to explore areas like Gaming, VR/AR, Computer Vision and P2P relevant to the banking industry.
If you see your startup joining the world’s largest network for entrepreneurs and working alongside a leading multinational financial institution – then the Barclays Accelerator, Powered by Techstars is for you.
There are many ways to find out more. Check out the information below. We look forward to meeting you!
The 2018 Barclays Accelerator, Powered by Techstars program will kick off at RISE Tel Aviv on May 27th, 2018, concluding with a Demo Day on September 5th, 2018. Apply here.
Join us next month for a presentation of the program. This will include Q&A with our alumni.
If you would like to attend, please write to Yasmin.firstname.lastname@example.org
Check out what our founders have to say:
Aamar Hussain, CEO of FinancialJuice:
The Barclays Accelerator, Powered by Techstars has been one of my greatest life experiences. For 13 weeks, you are thrown into the most fast-paced entrepreneurial bubble, meeting amazing mentors through the Techstars worldwide network, creating great friendships and expanding your mind as to what is possible with your business. The give first philosophy created openness and community that made you feel a part of something great. Richard, our direct connection to the behemoth that is Barclays, worked tirelessly to push meetings and engagement with the bank to drive our product integrations forward.
Omri Dotan, CEO of Wisor:
What’s not to love about the Barclays Accelerator, Powered by Techstars as a founder? There’s an amazing Techstars team, great mentors to get advice, and most important – new friends.
You get to build and expand your network with direct access to Techstars. You get funding, intros to investors and also to potential customers. I find it hard to think of better sandbox to build, reshape and design your startup.
Tali Av-Zuk, CEO of Vala:
The Barclays Accelerator, Powered by Techstars program beat my expectations and took Vala to a different level of business. The network, exposure and mentoring are priceless, and we feel lucky to be a part of this community for life.
Jason Grad, CEO of Bstow:
Bstow set out to achieve several objectives during our time at the Barclays Accelerator, Powered by Techstars and were happy to achieve all of them. During our time in the program, we were able to collaborate with Barclays and other large enterprises, learn from top startup leadership, and gain access to a vast network of mentors and other resources to accelerate our growth. Highly recommend.
Leav Graves, CEO of Samurai:
The Barclays Accelerator, Powered by Techstars had accelerated our growth immensely. Through expert mentoring, privileged access, international classes and worldwide networking, we were able to grow much faster and provide a better, more sophisticated product. More importantly, it allowed us to find design partners and international clients and reduce our time to market.
It’s time for Barclays Techstars Tel Aviv 2017!
Today is the first day of the 2017 Barclays Accelerator powered by Techstars program that will run for the next thirteen weeks.
We’ve expected that we’ll see the quality of companies applying to our accelerator increase from last year, but nothing could have prepared us for the absolutely stellar applications we received for Tel Aviv 2017. The companies joining us this year represent three different continents and a variety of business models and verticals.
With programs in London, Tel Aviv, New York and Cape Town, this has arguably become the most selective global Fintech Accelerator in the world with a growing list of alumni that are literally changing the face of financial services.
So here we are, excited to announce for the first time, the incoming class of Barclays Techstars Tel Aviv 2017:
Algosave provides Financial Institutions with innovative algorithm driven solutions to their Accounting – IFRS 9 & Regulatory Basel 3 requirements.
Exeq innovates the way people interact with their money, in pursuit of smarter, more personal banking.
FeezBack is an Automated Personal Finance assistant – we help users navigate the financial world by transforming complicated financial information into easy to use advice and personal recommendations.
Jenny is a conversational AI that brings a smart layer to a company’s existing Customer Service Infrastructure, aiming to make customer care more effective with smart automation.
Kard unlocks hidden credit card rewards with a free tool that can save you hundreds of dollars a year in points, miles and cash back.
Leo is a personal insurance assistant. Using AI technology and data, Leo provides a new, automatic insurance that meets the user’s needs in an easy and personalized way.
Ownerhood opens the real estate market by bringing crowdfunding to house-ownership.
Salaryo is a AI based flexible credit platform, offering financial stability for Millennials.
Robinhood replaces financial vendors by using its’ robot and smart BI engines to aggregate, compare and recommend upgrades for all existing portfolio.
Moran is a marketing advisor with the Techstars accelerator in Tel Aviv and the founder of Marketing Ramen, marketing strategies for startups on a budget. She’s building marketing strategies and helping startups grow. For full bio – moranbarnea.com, connect with her @moran_barnea.
Setting a marketing budget before defining a marketing plan is like putting the cart before the horse. Although there are plenty of online resources that can help you get a general idea of how much your marketing budget should be (depending on the number of years your startup exists, the industry in which it operates, etc.), preparing a marketing road map should come first.
Your marketing budget may change during the budget year, but to make it feasible, it should be built together with a plan that fits the goals of the company and one you could work with on a daily / weekly / monthly basis.
Before creating a detailed marketing plan including budget allocation to the various channels, deadlines, owner and more, there are 5 things to consider:
Startups are agile, and the answer to the question “who is your target audience” may change over the lifetime of the start-up. However, when you initiate your marketing efforts and build a plan and budget, there must be a clear answer to this question. For example, is your product an innovative a/b testing widget aimed at marketing executives in Fortune 500 companies? Is it an app targeted at teenagers ages 12-17 who live in English-speaking countries? Generic marketing targeting e-v-e-r-y-o-n-e (or “anyone who would want to buy the product”) is bad marketing. Even if you want to target multiple audiences, you must define them and often will need to narrow the list of audiences down, depending on your available capital and human resources.
Some would choose to build a persona (or persons) of the potential audience, to better understand who the potential client is and which pain they have that your product can solve. There are several excellent guides online to help build persona and a free Persona builder by Xtensio.
Once you defined who your target audience is, set your goals for the period of the marketing plan. One goal, for example, can be positioning yourself as an expert in the industry (thought leadership). This can be done by guest columns written by the founder/CEO in relevant blogs (for example, Bessemer Partners mapped Israeli cyber security startups for TechCrunch to position themselves as experienced investors in this industry). Another goal can be increasing sales. This may lead to focusing your budget on paid advertising.
A goal can also be recruiting new employees, and for that you may want to reach out to tech blogs who cover cool office spaces like this article in Fortune. There are additional goals you can have, and the answer to the question what are your goals could be “all of the above.” But, in order to prepare an effective and executable marketing plan, I recommend prioritizing these goals.
3. Marketing Channels
After you set your audience and goals, the next question is where can you find the audience. Going back to the example of targeting marketing execs in Fortune 500 companies, the chance of them reading an article mentioning your company at AdAge or AdWeek is higher than them reading such an article on Mashable. If you target the 12-17 age group, are they on Facebook, or like all of us, moved to Snapchat? Try to understand where your target audience spends most of its time online. Often, the chances of finding good and targeted leads will be higher in niche industry blogs. I worked with a company that targeted c-level executives in the hospitality business. The best leads we got was from an article on a small blog, but one that all c-levels in this industry are subscribed to. Sometimes, being featured in a large publication is a matter of ego more than ROI.
While building the marketing plan, ask yourself if there is currently someone on the team that will be able to carry the plan out. If not, is there a need (and budget) to hire a full-time marketing person? If you have an existing team, do you need to hire more people or would outsourcing services like Fiverr and UpWork make do? There are opinions supporting and opposing hiring freelancers, but from my experience, it depends on the person. You can hire an employee with zero dedication and a contractor who gives 120 percent into the project.
This point is derived from the four points above. Only when you set your target audience, objectives, optimal marketing channels and structure of the team will you be able to better understand what budget is needed. The marketing budget should be consistent with the growth to which you aspire. If you decide on a fixed monthly marketing budget throughout the year, it will be difficult to expect that it will support a growth. Start with a realistic budget – both in terms of available resources and also you in terms of your goals (it’s difficult to demand a 10 percent MoM growth with a fixed monthly marketing budget of $1,000). Consider long-term and short-term factors. For example, investing in content and SEO is a long term investment (Google will kill any tricks you try ;-)). In contrast, a PR campaign can and should be limited in time, so you can allocate only a few months out of the budget to it. If you decide to work with a PR agency, you can limit the work to 3-4 months. In addition, as the company’s general budget may vary due to external factors (drop in revenues, declining recruitment, etc.), the marketing budget will vary too, and that should be taken into account as well.
Moran is a marketing advisor with the Techstars accelerator in Tel Aviv and the co-founder of No CMO, online marketing strategies for founders and companies without a CMO. She is a full-stack marketer, building marketing and business strategies for successful startups. For full bio – moranbarnea.com, connect with her @moran_barnea.
There are many things on your plate while growing your company. You have a team to manage, a product to develop and deals to close. You may or may not have already hired a marketing manager, but you know marketing is crucial for your company’s growth.
You also want to make sure you don’t throw away valuable marketing money.
Making mistakes is normal and as Joseph Conrad said, “it’s only those who do nothing that make no mistakes.” Working with entrepreneurs and startups, I’ve learned you can’t avoid all mistakes. But you can avoid some.
Here are the top 4 growth-stage startup marketing mistakes and how to avoid them.
1. You don’t have a fixed marketing budget – Just like your general budget planning, you should work with a detailed marketing plan. Creating such a plan makes it easier to understand where your marketing money is going and when. For example, if you’re looking to launch your blog mid-year, your marketing plan should take into consideration the time and budget needed to build the blog and create the initial content. Growing your company and showing growth in your forecasts is nice and all but it has to be backed with a growing marketing budget. SEO work is another example for a marketing initiative that spans through a period of time and needs allocation of funds throughout the budget timeframe (there’s no such a thing as an “SEO campaign”). Setting a fixed marketing budget can be ok for the first couple of months, but if you want to grow, you need to take into consideration a growing budget.
2. You don’t keep track of the competition – Some startups mistakenly operate thinking that they don’t have competitors. Even if you don’t have direct ones, it’s crucial to look at the nearest ones. Being an entrepreneur, it’s impossible to operate in a bubble (on a side note – telling potential investors you don’t have competitors is probably in their top 3 things they hate to hear). Knowing who your competitors are and following their work can help your business and marketing strategies as well. By signing up to your competitors’ newsletters, and using alert tools such as Mention or IFTTT, you can stay on top of what’s going on in your field.
3. Your tracking tools are not in place – Having tracking tools, such as Google Analytics in place is crucial, as otherwise you’ll be operating like a blind person. Google Analytics is the most popular tracking tool, 100% free, well-known, and reliable. If you don’t like using Google for tracking, there are other tools such as Piwik or Clicky that are just as good (and free) as well, or for both a web and mobile presence, Mixpanel. If you haven’t done so already, set your tracking and make sure that you know how to create goals, funnels and read reports. Having the majority of your traffic marked as “unknown” in Analytics is terrible as you’re spending money on marketing but cannot calculate the ROI. If you are unsure of how to set analytics and connect them correctly yourself, hire a freelancer to do this small project for you.
4. You’re not where your audience is – If your product is an innovative baby sensor that is sold directly to customers on your site, a LinkedIn campaign may not be the best use of your marketing money. Plan your marketing according to where your audience is. If you are a B2B cyber startup and your target audience are CIOs and CISOs of large enterprises, meet them in industry events, publish in blogs and newspapers they read, and re-target them on LinkedIn. If your product on the other hand targets millennials, you have to be very active on social media and mostly these days, Snapchat.
Who hasn’t told themselves at least once (or twice) – “I’ve got a great idea and it’ll be worth millions…It’s time to launch my startup.”
That’s good and all, but launching a startup takes far more than a solid idea and a lofty goal. The hard truth is that some people probably shouldn’t become founders.
With every dream comes a reality. It’s not for the faint of heart, and while a healthy dose of delusion will get you through the excruciating pain of your first years as an entrepreneur, you do owe it to yourself to really understand what you’re about to get into. We hear the great success stories and watch the whirlwind humor of Silicon Valley on TV, but rarely talk about the failures.
The statistics alone are revealing. The most recent reveals that about 9 out of 10 startups fail, and that’s a generous calculation (“not fail” has a broad meaning and can be interpreted in many ways. It doesn’t mean that the 1 out of 10 startups had successful exits or IPOs).Sure, there may be incredible moments of success and accomplishment, but for most, the reality of success is slim to none. Becoming an entrepreneur and launching your own startup takes nerve.
I’d go so far as to say it also requires a certain character and attitude, something that goes as deep as your DNA. If you don’t have it, the dream will quickly be shattered.
Here are 6 things to be cautious of when you first go all-in:
1. You’re perpetually stressed out – Some people are calm by nature and some are stressed out all the time. Yes, being a successful entrepreneur means you have to be alert and sharp, but it doesn’t mean a constant sense of tension. Planning and launching your startup entails many stressful situations but to be an accomplished entrepreneur, you need to know how to control it. Making decisions and functioning under constant pressure will cause you to make mistakes and eventually fail. The stakes only get higher when you’re tasked with easing a team. Your first 10 employees will develop and carry your company culture to your next 100, and if that culture is riddled with anxiety and worry about the unknown, you simply won’t make it. That kind of mentality creates a toxic work environment, and the only time your team will feel relief is when you take a sick day.
2. You’re indecisive – Making decisions and taking risks on an hourly basis are what startups are all about. You need to be strong with your decisions or risk going into a tailspin.. Successful entrepreneurs know to make decisions quickly, and also stand behind those decisions. We’re not talking about being stubborn and not or refusing to be flexible in changing conditions. Rather, when you’re are unable to make a decision, whether it’s about who to hire or what your product roadmap should look like, you’re letting your self-doubt take over.
3. You have awful budget and forecast planning skills – You don’t plan your budget right and it seems like you’re always down to your last three months. This could be an extra stressful situation when you have to pay suppliers or employees. A good entrepreneur thinks long-term and also knows to strike the iron while it’s hot. Investors are looking first and foremost at growth and growth opportunities. If you had a period of terrific growth in your startup that’s recently slowed down, it may be too late to get new funding.
4. You spend too much money on useless advisors – You don’t have time to hire staff for all the positions you wish you could fill, so you retain advisors for one-time projects. The devotion and dedication of an advisor is not like the devotion of an employee, and that sometimes makes all the difference. You may also be under the false impression that it saves you money (but it actually doesn’t). A good advisor is costly, and usually not less than what a good hiree would take. A bad advisor will help you with nothing, and happily cash your check all the same.
5. Your interpersonal skills suck – overall, you are not the nicest person. You also like to gossip and talk behind people’s back. Unfortunately, that didn’t change when you launched your own company and hired employees. It’s also extremely difficult for you to say something nice, let alone compliment someone on a job well done and overall, be appreciative of others.
6. You’re not a role model – Your employees and peers don’t look up to you and you expect of them to perform a certain way and do certain things that you are not doing yourself. As an entrepreneur, any person that first meets you will label you a leader and you will immediately sense their respect. But, this leader reputation can fade fast when you are not acting on it. It can start by coming to the office at noon and leaving at 4 to just not caring at staff meetings. Remember that you are at the top of the pyramid, and everyone is noticing you. If you don’t deliver leadership, you will not be perceived as one.
Originally published on Tech In Asia