How leaders should address race with their employees, the Warren Buffett of tech, and top healthcare startups – Pulse Nigeria

How leaders should address race with their employees, the Warren Buffett of tech, and top healthcare startups  Pulse Nigeria
“startups when:1d” – Google News

6 VCs share their bets on the future of work

As tech companies like Twitter and Facebook gear up for longer-term remote work solutions, the future of work is becoming one of the more exciting opportunities in venture capital, Charles River Ventures general partner Saar Gur told TechCrunch.

And as loneliness mounts with shelter-in-place orders implemented in various forms across the world, investors are looking for products and services that foster true connection among a distributed workforce, as well as a distributed society.

But the future of work doesn’t just entail spinning up home offices. It also involves gig workers, freelancers, hiring tools, tools for workplace organizing and automation. The last couple of years have particularly brought tech organizing to the forefront. Whether it was the Google walkout in 2018 or gig workers’ ongoing actions against companies like Uber, Lyft and Instacart for better pay and protections, there are many opportunities to help workers better organize and achieve their goals.

Below, we’ve gathered insights from:

Saar Gur, Charles River Ventures 

What are you most excited about in the future of work?

Future of work is one of the most exciting opportunities in venture.  

Pre-COVID, few tech companies were fully remote. While it seems obvious in retrospect, the building blocks for fully remote technology companies now exist (e.g. high-speed internet, SaaS and the cloud, reliable video streaming, real-time documents, etc.). And while SIP may be temporary, we feel the TAM of fully remote companies will grow significantly and produce a number of exciting investment opportunities.

I don’t think we have fully grokked what it means to run a company digitally. Today, most processes like interviewing, meetings and performance/activity tracking still live in the world of atoms versus bits. As an example, imagine every meeting is recorded, transcribed and searchable — how would that transform how we work?   

There is an opportunity to re-imagine how we work. And we are excited about products that solve meaningful problems in the areas of productivity, brainstorming, communication tools, workflows and more. We also see a lot of potential in infrastructure required to facilitate remote and global teams.

We are also excited by companies that are enabling new types of work. Companies like Etsy (founded 2005), Shopify (2004), TaskTabbit (2008), Uber (2009), DoorDash (2013) and Patreon (2013) have helped create a new workforce of entrepreneurs. But many of these companies are over a decade old and we fully expect a new wave of companies that give more power to the individual.

Startups – TechCrunch

Why Smart Entrepreneurs Build Plans For Their Startup

business-idea-planning-business-planMost technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. Is it any wonder why so few entrepreneurs ever find the professional investors they seek?

Just for clarification, I characterize a product plan as a formal description of your product or service, with a quick business description at the end for effect. A business plan is a careful layout of the business you are building, with a quick product overview in the intro to set the stage. In reality, you need both, to clarify for yourself and team that you have a viable business solution.

A product plan has tremendous value inward facing, telling your product people what to build, while the business plan has maximum value outward facing, explaining to the rest of the world how your new company will survive and prosper. A product plan is never a substitute for a business plan.

Because the product plan is aimed internally, it can assume the reader has the relevant technology and jargon background. Here are the major elements of the best product plans:

  1. Market requirements section. This first section of every product plan defines the market, sizes the opportunity, and discusses individual needs and requirements that will be provided by your product and service. These requirements must be based on market analysis, expert input, and existing customer feedback.

  1. Technology, architecture, and feature descriptions. This section of the product plan details every element of the product or service that is your solution. It allows all members of your team, including marketing, support, and sales, to size and build the business plan processes they need to find customers, deliver, and maintain grow the business.
  1. Development schedule and checkpoints. A product plan must include the timeline and milestones involved in product research and development. Each of these activities should have associated costs and resource requirements. Related activities must be defined, including performance expectations, quality certification, and proof of concept.

  1. Quality testing and approval processes. Product certification or product qualification requirements and processes are a key part of every product plan. This section of the plan would include the definition of specific test processes, how results will be measured, and who has responsibility for execution and approval.

Now let’s talk about the basic components of a business plan. Since this document is outward facing, it is important to keep the terminology and tone consistent with that of your customer set, investors, and business partners. It does need to include a high-level summary of the components in the product plan, with key additional sections as follows:

  1. Definition of customer problem, followed by your solution. The customer pain point must be defined before the solution is presented, so it doesn’t look like you have a solution looking for a problem. Use concrete terms to quantify the value of solution, like twice as fast or half the cost, rather than fuzzy terms, like cheaper and easier to use.
  1. Opportunity segmentation and competitive environment. The market for your solution should be quantified in non-technical terms, with data sourced from professionals in the industry, rather than your own opinion. List key competitors and alternatives, highlighting your sustainable competitive advantages, such as patents and trademarks.
  1. Provide details on the business model. Every business, including non-profits, needs a business model to survive. Providing your product or service free to customers may sound attractive in marketing materials, but you need revenue sources to survive. Free is a dirty word to investors, since it’s hard to get a financial return from free.
  1. Executives, marketing & sales, financial projections, and funding. These are additional critical sections of a business plan to define who is running the business, business strategy activities, and financial expectations. There are many good books and Internet articles describing each of these sections, so I won’t cover the details here.

In principle, there is very little overlap between these two plans, so it never makes sense for an entrepreneur to build one without the other. Yet I’m still often approached by aspiring entrepreneurs who have neither. If you are still in the idea stage, meaning you have nothing but a passionate verbal description of an idea, approaching investors is a waste of time and a recipe for failure.

Savvy entrepreneurs always remember that they are the key investor in their company, so they measure themselves against the same standards as professional investors. That means they invest first in a set of plans.

Marty Zwilling
Startup Professionals Musings

Hunterz.io and The Second Shift Partner to Provide Working Women with Well-Paid Freelance Jobs, Opportunities to Monetize Their Business Networks #96091 – New Kerala

Hunterz.io and The Second Shift Partner to Provide Working Women with Well-Paid Freelance Jobs, Opportunities to Monetize Their Business Networks #96091  New Kerala
“startups when:1d” – Google News

Paytm moves HC claiming telecom companies not preventing phishing activity over their networks – ETTelecom.com

Paytm moves HC claiming telecom companies not preventing phishing activity over their networks  ETTelecom.com
“sweden startups when:7d” – Google News

Truthset raises $4.75M to help marketers score their data

Data, the cliché goes, is the new oil of the digital economy. But Truth{set} co-founder and CEO Scott McKinley wants to know: “Why does no one care about the quality of that fuel?”

That’s an issue McKinley saw in his seven years as an executive at Nielsen, where he said he realized that marketing data products are “all built on massive error.” As evidence, he pointed to recent studies showing that bad data leads marketers to waste 21 cents of every dollar, and that in many cases, consumer data is “similar to or even worse than what you’d get if you used random chance to create a target list.

McKinley argued, “You wouldn’t drive a car to a gas station where there’s no octane rating on the pump.” He created Truth{set} to provide that octane rating to marketers, and to “shine the light on that whole ecosystem.”

More specifically, the company scores the consumer data that marketers are buying on accuracy, on a scale between 0.00 and 1.00. To create these scores, Truth{set} checks the data against independent data sources, as well as first-party data and panels.

“In order for us to do this, we had to develop a perspective on what is truthful and what is not,” McKinley said. “And so instead of building our own data sets, we said, ‘Let’s be smarter than that, let’s verify everybody else’s data with these independent sources of truth.’ ”

Truthset screenshot

Image Credits: Truthset

In addition to coming out of stealth, Truth{set} is also announcing that it has raised $ 4.75 million in seed funding from startup studio super{set}, WTI, Ulu Ventures and strategic angel investors.

The company says it’s compatible with demand-side platforms, data management platforms and customer platforms. It also integrates with the leading data providers, including Facebook, LiveRamp and The Trade Desk.

McKinley added that the platform can even “suppress” consumer IDs that don’t meet a marketer’s standards, so that they’re not used in targeting.

Throughout our conversation, he emphasized the idea of independence, arguing that in order to provide trustworthy scores, “You cannot have a conflict of interest.” At the same time, Truth{set} is working closely with the data providers to score their data and to help them improve their accuracy. The goal is to create an expectation among marketers that if data is accurate, it will come with a score from Truth{set}.

“There’s a FOMO thing here — if you’re not being measured, what are you hiding?” McKinley said.

Startups – TechCrunch

Has anyone merged with their competitor?

A new competitor emerged that is extremely similar to my startup. Upon looking into it, their entire situation seems very similar to ours. I even have a hunch that we'd work together quite well, so the thought of merging with them crossed my mind.

It probably wouldn't work out due to geographic differences or some other stumbling block, but I'm curious if anyone else has pursued merging with a competitor.

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Startups – Rapid Growth and Innovation is in Our Very Nature!