Article 1: https://blog.leanstack.com/in-search-of-unicorns-623419208204
This article explores the trend of an entrepreneurial renaissance in the current world. It explains that we live through a rapidly advancing world in business, whereby incredible opportunities exist. There has been an increased number of incubators, accelerators, and university programs to meet the increased demand. However, there are various problems, such as spending more time educating than accelerating startups, which hinder the startups. Solutions to those problems have also been suggested where one of them is measuring investment readiness pre-traction.
The report provided by the Global Entrepreneurship Monitor in 2019 revealed that the number of startups being launched every year was progressively increasing across the world, with an estimated figure of 100 million startups. More than 5,000 startup accelerators are currently being recorded today compared with ten years ago, where the number of startup accelerators was less than 50.
A 12-week accelerator model was proposed, but it was found to be prone to some problems which hindered investment-readiness in teams for the set duration of 12 weeks. For instance, selecting the right groups to suit available spots is difficult since there are many more startups than before.
However, several suggestions have been made for the model to work. For instance, it has been proposed that a new startup funnel would need to be found to address issues such as scaling mentors versus advisors.
Article 2: https://blog.leanstack.com/reorder-your-chain-of-beliefs-with-a-leaner-lean-canvas-8ab0f35fcc9c
This article focuses on the presentation of ideas in a successful way. It emphasizes market risk, customer risk, and technical risk to the key types of risks that a successful idea should continuously balance. So, if those risks are considered, the idea would be viable, desirable, and feasible. The article discourages overreliance on personal beliefs in approaching issues. It encourages one to focus on problems that customers experience when using the available alternatives.
The article states that a good relationship between customers and business is paramount and can only be ensured by serving them well. Therefore, it would be essential to identify customers and early adopters and determine how their problems would be solved. It states that questions should be described concerning the customer’s existing alternatives. With that, better problem-solving techniques would be explored.
Next, an effective UVP that attracts customers’ attention can be achieved by anchoring one’s special pricing, value proposition, and problem-solving. Therefore, one should not invent fake problems to justify the proposed solution but uncover real problems worth solving.
Article 3: https://blog.leanstack.com/the-problem-with-problems-50dd364ccb2b
Some of the risks in any business set-up when one is starting up involve the customer and problem-based assumptions. If the investor gets any of these assumptions wrong, it may cost the whole business. Face to face interviews should be used to validate customer and problem-based assumptions.
Entrepreneurs always have a solution in mind which they cannot shut off. The interview helps assess the top problems affecting the customers. It also helps to identify the possible remedies to those particular problems. Customers also have a solution to bias. The interview between Mary and Steve helped point out the issues affecting Mary as a customer.
Therefore, interviews play an important role in solving the problems of customers. They help investors know what is affecting them, what they want, and how to make it a reality. It is possible to build on what the customers want.
Article 4: https://www.forbes.com/sites/falonfatemi/2019/12/23/how-to-conquer-customer-churn-with-ai/#79aabeaa31b4
Nowadays, customers are more informed than never before. In the process of conquering customer churn, artificial intelligence is a game-changer. Four strategies can be prioritized when harnessing the power of artificial intelligence to help in churn reduction. These strategies include prioritizing data hygiene, not evaluating data in a black box, not developing churn interventions in a vacuum, and not over-automating and losing sight of the human touch. When a person has overworked themselves, it is straightforward to burn out.
Churn is an unavoidable business. When one minimizes churn, the outcomes can be remarkable. Research done shows that getting a new customer is five times costlier than retaining an existing one.
Extra hours and workload can lead to one becoming stressed out and hence being unproductive in their workplaces. It is crucial, therefore, to know how to reverse the feeling when you have it. It is because it causes negative implications for one’s job.
In summary, they evaluate customer churn indicators during and after customer service interactions are essential to prevent customer churn. Productivity in the workplace is necessary, and, therefore, stress should be avoided at all costs because it can affect one’s job. If one has the feeling already, they should work on reversing the surface because it has negative implications.
Article 5: https://www.voguebusiness.com/technology/as-fashion-resets-its-algorithms-should-too.
It is essential to reset the algorithm as fashion is reset too. The fashion industry is facing a call to a better representation. Experts of AI also weigh out on how artificial intelligence and algorithms should contribute to blind spots.
AI has a bias, just like the people who make it. As brands are being reckoned to become more inclusive and diverse, it is also important to ensure that their data and algorithms are checked. Artificial intelligence should be adapted to one’s business, goals, and aspirations as a company.
Therefore, AI can cause machines to carry out human tasks through the use of algorithms and set rules that are applied to data.
Article 6: https://www.gartner.com/smarterwithgartner/gartner-top-10-strategic-technology-trends-for-2020/
Technology is overtaking augmentation and replacing people’s capabilities into enlargement that helps create superhuman abilities. Human augmentation helps to cause the changes that impact businesses and the world. The use of technology in automation has been of great benefit, mainly because it helps do tasks done by humans before effectively and efficiently. Democratization helps provide individuals with technical or business expertise that is easy to access. It requires no much training.
Hyper-automation deals with advanced technologies such as machine learning and artificial intelligence. These technologies help to augment humans and automate processes. No tool can be used to replace the work that humans do. However, hyper-automation is combined with several other means such as robotic process automation, artificial intelligence, and intelligent business management software to have decision making that is AI-driven.
Technology plays an important role that used to be done by people and also increases the speed and efficiency of organizations. It increases productivity in the organization, hence attracting customers due to the high-quality products it produces because of the improved technology.
Article 7: https://www.sharper.ai/taxonomy-ai/
AI terms are continuously misused. It is unfortunate to point out that AI is a victim of its success. The two AI and deep learning concepts lead in terms of unrealistic expectations and misconceptions in Gartner’s Hype Cycle. AI is used as a cure to many people’s woes or the beginning of the human downfall. These suggestions have been brought out due to a lack of understanding and misconceptions rather than rational analysis.
Literacy in AI is an essential aspect because it is fundamental in digital literacy. There are many glossaries of AI. These include Wikipedia, which is used as the link and reference of the many terms used in AI. AI outshines people in carrying specific tasks, especially when converting speech into a text.
Although AI is a term used collectively, it is always a different system that helps to succeed in each task. However, there are several judgments on AI, and it is seldom balanced.
Article 8: https://towardsdatascience.com/rethinking-ai-machine-learning-model-management-8afeaa31d8f8
The enterprise needs variability, model reproducibility, and traceability as the driving forces to implement changes in the traditional AI better. The data science lifecycle version addresses tasks such as acquiring and engineering data, understanding the business problem, and model development and training, among others. The driving forces in financial services are regulated.
However, the benefits of driving forces must outweigh their costs. These benefits help to enhance the effectiveness and agility of data scientists. Data scientists are allowed to search, visualize, and track models related to data and artifacts by Lifecycle Catalog’s portal.
Therefore, it is crucial to address the production data drift, which leads to degraded model performance. They must also prove to the auditor that a model realizes the right results according to the actual business events.
Article 9: https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/strategy-under-uncertainty?cid=other-emlclsmipmck&hlkid=6b3fa106384347d3805108d5823aafe1&hctky=11588155&hdpid=92d7756c-d3ae-43bc-8c56-9336706f03c4#
It is dangerous for the executives to underestimate uncertainty in their strategic plans. This aspect leads to strategies that cannot defend a company from the threats posed and cannot take advantage of opportunities extensive delays provide. The analysis is done to help in predicting an industry’s future landscape. The strategy involves making positioning choices about where and how to compete.
Sound strategic decisions made under uncertainty require an approach that avoids the dangerous binary view. Therefore, determining the level of uncertainty surrounding strategic decisions is essential. A strategy should be tailored to that particular uncertainty.
Therefore, it is not right to underestimate uncertainties when making strategic decisions because they can affect an institution. They should be considered to come with the right choices that will benefit the organization amid those uncertainties.
Article 10: https://investors.fortive.com/press-releases/press-release-details/2020/Fortive-and-PSL-Form-Joint-Innovation-Studio-to-Create-New-Companies/default.aspx
A joint innovation studio has formed new companies from nothing in the space of industrial technology. The studio’s goal has been to help create innovative new solutions and technologies that solve critical problems and opportunities for customers in these markets. The companies created will be part of the Fortive family or standalone venture-backed businesses.
A combination of skills and expertise in this joint studio will help form a great partnership that will bring customers innovations. The purpose of the association is to position and innovate the businesses to ensure that they achieve organic growth opportunities. The group will focus on recruiting entrepreneurs with customer relation skills and team members with a particular concentration on professionals with skills in industrial technologies.
It is essential to create these new companies to ensure customers are satisfied with the services these businesses offer them. Expertise from professionals will be of much importance to determine what is needed by the customers and how to make it achievable.
Article 11: https://blog.efounders.co/launching-a-startup-studio-how-to-finance-it-d847bbc11477
Startup studios are not incubators, accelerators, venture capitals, and not the typical company. To get it started, one needs money to finance it. Most of the first capital raised by the studio will be used in running the studio and building its first establishments.
However, when the studio grows big, it stops being a sole venture builder to a continued investor. It will have to take an investor’s role if it succeeds because it is already established. The three main startup studio structures include the fund model, holding the entity model, and a dual entity model. The three of them have different sets of specificities. The fund model is not the best suited when first launching a studio. Both the studio and the fund in the dual entity model helps in financing. The holding entity model combines simplicity and alignment of interests of studio founders and investors.
Startup capital is significant when beginning a studio. It lays the foundation of how the studio will stand to be successful. A robust financial basis promises the studio to succeed because it will have quality products to its customers.
Article 12: https://medium.com/futuresight/understanding-startup-studio-structures-e4482dd3b6a9
It is essential to understand startup studio structures. The diversity of models should be understood because they confuse investors to whom venture studios are new. There should be standardization and approach where possible. Single studio plus syndicate and dual entity model seem the best when assessed objectively.
A perfect model should, therefore, involve these two approaches being combined. To better capture these rights’ economic value, one should open those up through SPV’s to a more prominent syndicate of investors. It would help in upgrading these two models once the studio is up and running.
Understanding studio structures will help investors provide information on what should be done on the new studio ventures. It should be the foundation of laying an established studio in the future. It would help to understand better what is needed to provide better services to its customers.
Article 13: https://medium.com/@jakehurwitz_71965/top-five-mistakes-made-by-emerging-startup-studios-b82483e5df91
Various mistakes are made by emerging startup studios. These studios need to learn from their past mistakes so that they may stand up again within the shortest time possible. These mistakes include lack of portfolio focus, lack of studio focus, undercapitalization, overlooking the importance of marketing, and “idea-first” versus “human-first.”
Many studios have been industry agnostic instead of being the best in building startups in a niche industry. These studies should focus on one approach and continuously seek to improve it. It is also essential to seek skilled people for the studio to serve customers in the best way possible. Enough money should be raised for the long term in establishing the studio. The studio should focus on marketing because it is an essential part of the business.
Therefore, avoiding making these mistakes or rectifying them if already committed will help the studio grow to a broad customer base. It would help the investors produce the best studio services to support the studio to perform at the highest level.
Article 14: https://www.ft.com/content/19d90308-6858-11ea-a3c9-1fe6fedcca75
Coronavirus has led to a global crisis affecting people all over the world. It is arguably the biggest crisis the world has ever experienced. The government plays a vital role in the decisions it takes during this period because it will affect the world in the future. They will shape the healthcare system, culture, economy, and politics globally.
These decisions will not just help to solve the crisis at hand, but will also help to predict the world people will be living in after the storm. For instance, will schools and universities continue teaching online? To help control the epidemic, people need to comply with the guidelines given by the different governments. Authorities should monitor their people, and those who violate the rules to be punished.
Therefore, following these rules is not slavery, but they are essential measures that must be followed if people win against this pandemic. People should work together with the government to ensure that measures put in place are enacted to avoid causing more damages already caused by COVID 19 that may affect the world globally after the pandemic is over.
Article 15: https://www.eu-startups.com/2020/06/meet-the-european-vc-firms-that-are-funding-promisingoverlookedfounders/?utm_campaign=London&utm_medium=email&utm_source=Revue%20newsletter
Discrimination in the playing fields has been witnessed lately, and this aspect has led to several firms coming up to stop these types of discrimination. These discriminations are based on sexual orientation, race, physical or mental ability, ethnicity, and gender. Despite several capital firms coming up to support the black lives matter movement on social media, only a few firms have contributed money to this movie.
Despite this movement’s support, it is essential to tackle diversity and inclusion inside the various organizations if the impact anticipated will be long-lived. In this aspect, different venture capital firms have been working on scouting talents from minority groups. They include ADA ventures, Unconventional ventures, and Impact X, among others.
Therefore, suitable measures should be put in place to help fight discrimination in the playing fields and the world at large. It is because all people are equal and should be given opportunities based on their credentials, not based on their race or ethnicity. This aspect will help to build a healthy society in the world that advocates for people’s rights to be respected.
Article 16: https://www.thedrum.com/news/2020/06/02/1-800-flowers-has-mastered-the-art-smart-gifting-and-business-blossoming
1-800-Flowers.com is one of the largest gifting retailers in the United States. It has banked several tech firsts over its 40-year period in operation. The use of technology and pushing boundaries through digital innovation deepens the connection between the company and its customers. This theory works because the company has been growing significantly.
Digital designs have been used in this business to help make the customer experience more agile and convenient. The management has been working to ensure that they reach customers where they are. The brand has also unlocked its potential by providing that voice-enabled capabilities are deployed across Amazon Alexa and google assistant on android smartphones, among others.
This strategy of connecting with the customers has been vital in making the company get established. It has grown to great heights because of the trust they have created with the customers. Other companies should ensure that they are in good terms with the customers if they will succeed in their various businesses.
Article 17: https://www.ey.com/en_nl/finance-navigator/the-ultimate-guide-to-financial-modeling-for-startups
It is essential to have a financial model in the process of building a sustainable economic future. Financial planning is critical for startups. Most companies carry out financial planning and budgeting.
For instance, a financial plan is needed to help in building a viable business. It is also required to assist in the process of finding the company to be firmly established. It also needed to help one be informed as well as to inform the shareholders involved.
Therefore, a financial plan is vital for startups because it helps them budget for the business and knows how to develop it and succeed. It helps a startup business set goals to achieve financially. It helps them to be prepared financially for any emergency that may require funding along the way.