Welcome to Linkibuzz #53.
This week we’re covering stories that are sure to satiate your appetite for all things startup related.
Our first featured story takes a look at a problem that can cause many startups to fail – a lack of credibility. Credibility is crucial to winning the trust of your target market as well as investors, so it’s something you must look to establish early on in your business.
Next, we take a look at some common conflicts that can arise in startups and what you need to do to deal with them. This is a crucial read if you’re a senior manager, director, or the CEO of a startup.
Our last two stories take on the theme of the recent Brexit. First, we look at how there is now a new race for Europe’s startup capital because it seems as if London is going to lose that prestigious title in the next couple of years or so.
Lastly, we take a look at what specific issues are now facing UK startups after the news of the Brexit.
So we hope you enjoy all of these stories for this week. Sit back, relax and enjoy Linkibuzz #53.
One of the most difficult challenges faced by every new enterprise is gaining the trust of people unfamiliar with the brand and business. You’ve got investors you need to impress and build trust with, but you’ve also got the customers as well.
As the article points out rightly so, around 80% of consumers put their trust in a product or service based on the reputation of the company alone. So if you’re brand new, that is going to make things difficult. Without the trust, there is a big chance your startup will fail.
The key is being able to build trust, and that happens by establishing credibility for your company. However, it’s not all doom and gloom because as the writer of this article points out, there are three steps every new startup can take to boost its credibility.
- Using past accomplishments to carve out a niche
- Leveraging past relationships with established brands
- Not being afraid to take a pay cut
These are three ways that are vital for a company to explore to build credibility if it’s to succeed in the marketplace. Make sure you check out the entire article to read in more detail about how those three steps can boost your company’s credibility.
No successful startup ever became successful without a few hiccups along the way, and one of those hiccups is workplace conflicts that are bound to arise at some point.
As the writer of this article points out, the upbeat work culture of startups is something that attracts many people, but it’s also a problem. It ends up leading to misunderstandings and conflicts in the workplace that, if not dealt with quickly and appropriately, can spread throughout the workplace like wildfire with disastrous consequences.
Here is a short list of some of the most common conflicts that can arise in a startup:
- Ego clashes
- Decision-making clashes
- Not clearly defining your strategic intent
- Replacing the flat hierarchy with an open hierarchy
- Building internal PR
- Bandaging well
- Talent development opportunities
- Exercising caution
The most important thing is that you’re aware of these conflicts in the first place so they don’t end up turning into big problems in the workplace.
Take a look at the article and get a bit more of an in-depth understanding of these conflicts and what you can do to deal with them.
For decades now, London has been regarded as Europe’s startup capital. Now with the Brexit, it might not betrue any longer. The future for Europe’s current startup capital is one filled with uncertainty and it seems likely that it will lose its title as the startup capital of Europe.
With the separation from the EU, it will it hard for startups to recruit the talent they need to the UK to grow and expand. Then there are administrative and trade headaches and the potential for extra costs with doing business with EU member countries. All of these things combined leave everything looking a little gloomy for London’s startup scene.
Either way, the race is now on for cities in Europe to establish themselves as the next capital for startups in the continent. Dublin is at the forefront of that ambition,with an email sent from the Dublin commissioner for startups indicating the city is keen to establish itself as Europe’s startup capital.
However, other cities that could get the title are Amsterdam, Berlin, or Stockholm. Either way, it seems as if the days of London being the startup capital of Europe will begin to come to a gradual end. But with so much uncertainty, experts can only predict what could happen.
Only time will tell if London indeed loses its title as Europe’s startup capital.
Many London-based startup are staring at a lot of future turmoil. With the Brexit, many are unsure of what their future will be. It seems inevitable that it’s going to affect every startup’s ability to hire international talent and gather funding from investors.
Previously, London was the launching pad for startups throughout Europe. Startups would base themselves in London and would first aim to conquer the European market before tackling the US and other global markets.
The Brexit is going to make this much more complicated and it only seems like a matter of time before startups begin to leave London and relocate elsewhere. The things that are most concerning for startups are investment funding difficulties, which will now arise in hiring international talent and budget concerns.
However, as one source in the article in question points out, entrepreneurs are people known to adapt and if anyone can adapt to this situation and make it into something great – it’s them.
There is no doubt that many startups currently based in London are looking at this as the beginning of the end. The future is uncertain but hopefully, something good can come out of it for London’s startups.
Thanks for reading this week’s Linkibuzz. Before you go, here is a quick recap of our featured stories from this week.
First, we looked at how startups can build credibility so they can survive and grow in their markets. Second, we looked at some common conflict issues that can arise in the unique startup workplace and how they should be dealt with.
Third, we focused on whether or not London will lose its title as Europe’s startup capital. While we’re not sure, it seems highly likely that it will. Lastly, we looked at the current turmoil London’s startups are currently facing with news of the Brexit.
We hope you enjoyed this week’s episode and stay tuned for Linkibuzz #54 next week.