There was a lot of startup news for this week and we’ve found some of the most interesting and relevant stories from around the world to whet your appetite for Linkibuzz 37.
We focused our first story on the ramifications of a potential British exit from the EU and how one London startup has already been affected. Then we had a couple of posts regarding managing and raising finances for startups. Lastly, we focused on a pepperoni pizza and how it contains the secret to building a successful business.
You must be thinking we’re crazy on that last point but wait until you read the post and you’ll see what we mean.
Last week we addressed the potential problems many UK startups are destined to face if Britain leaves the EU. For now, Britain is still in the EU and the referendum is yet to take place, but the fact that a referendum on EU membership is even occurring is already starting to affect UK based startups.
This post is a testament to that and brings our attention to a London tech startup called Sup that has already lost $142,000 in investor money. To say that Rich Pleeth, the company’s founder is worried about the effect leaving the EU will have is an understatement. He had a German investor willing to invest money in his startup and now that investor isn’t willing to go through with it until the referendum takes place.
Obviously, there are going to be ramifications for many startups if Britain leaves the EU. It seems that these ramifications are already being felt for some UK based startups.
The startup world is a cool one. It’s full of excitement, buzz, and enthusiasm from some of the brightest and most creative minds assembled. Gathering to do something amazing that helps to change the world in their own way.
We know many startups love to have their own swanky looking office spaces where the entire team can work and collaborate from. However, the question deserves to be asked, “Is it even necessary?”
It costs a lot of money to rent an office space, yet alone get one done up just for your own team. We know that startups face financial difficulties. Cash flow seems to be a regular problem for many so it goes without saying that money needs to be spent carefully.
Without careful spending, your startup may end up in the gutter. Down and out for good with no money to rely on. This post is great because it explores this issue and as the writer points out, one of the big reasons for Amazon.com’s success is that they didn’t spend a lot of money on swanky office spaces for the business.
Instead, they bootstrapped it until they were hitting major profits. We don’t know about you but we think that’s a smart way to approach it.
The general script for most startups is that they focus on building their product and acquiring a customer base. Then they realise that they don’t have enough money so they desperately start trying to scrounge some cash together to keep their idea afloat.
This often ends in disaster and many startups fail because they run out of money. A key component to building a successful business are the relationships you form. This is why getting out there and connecting with the right people is so important.
This post looks at building relationships with key people, how to build them and what to focus on. It shows you what you need to do to get out there and start connecting with the right people in a way that genuine and authentic.
Relationship funding is an intimidating one but it’s absolutely vital to success and future of your startup. This post gives you the blueprint you need to succeed at it.
Want to know the secret to building a successful startup? The answer lies in a pepperoni pizza. Yes, you read that correctly.
That’s the exact analogy made by Peter Gasca over at Entrepreneur.com anyway. We must say, we do think he has a good point. Let’s look at the things he covers very briefly here and then you can go read the entire article for yourself.
1. All pepperoni pizzas have the same basic ingredients and cooking instructions – It’s true. Unless your business is inventing some new technology then your business is just like every other business fundamentally. It’s a business and the same rules apply across the board.
2. Not everyone likes pepperoni pizza – Not everyone will like your business either. Rather than appealing to everyone, you should be appealing to a very specific group of people who you decide are your target audience. And it goes without saying, validate your ideas first.
3. You need to differentiate your pepperoni pizza – If you don’t want your business to be like every other business in your marketplace, you’d better find a way to make it stand out. Make it taste better. Make it cook faster. Do something.
4. Your pepperoni pizza still needs to taste great – Make sure your product or service is as close as it can be to perfection. You could lay all the correct groundwork but if you end up creating a sub-par product, your effort and time invested will be for nothing.
That’s the general gist of the post. Go ahead and read it all for yourself. We’re sure you’ll be entertained by its unique take on the issue.
Closing: Linkibuzz 37
This week was full of interesting news and stories from the startup world. We know that the startup world is one that is always moving at a rapid pace and we’re sure that these stories will have satiated your desire for startup news. At least for this week anyway and this instalment of Linkibuzz 37.
Stay tuned for next week where we’ll bring you more exciting stories from around the globe.