What Fintech Entrepreneurs Can Learn from the big tech industry

What Fintech Entrepreneurs Can Learn from the big tech industry

You may have heard many successful “big technology” executives leave the excellent work of companies such as Apple and Google to develop new passion projects at financial technology companies. The trajectory from large technology to financial technology is becoming more and more common. What makes the migration successful? What new business can a big businessman use?

I also choose this way. After co-creating a company that eventually became Google Analytics, it took nearly 10 years to venture and invest in the debt creation platform with new business partner Brew Johnson on the release of new products and the growth of Google employees. PeerStreet.

My exact path is uncertain, but PeerStreet has a very smart co-founder and a very talented team to share the vision. There are countless challenges in the first two years, but there are still opportunities for growth. The road to the future has not yet been written, there are still many things to learn, but when you think about it for a while, there are some essential elements to make it successful.

The mission is very important.

This is the lesson that Google has learned over and over again. What’s important is that it’s important that you as a company, usually as a team in a team. It not only has a mission, but also a mission to encourage others to act.

Despite being a large organization, high-tech companies such as Google, Apple and Amazon are still considered destructive. In a way, they actually disrupt the main industry.

But this is also because the continuous projection of the vision attracts employees, stakeholders and customers. Even if you can’t express it immediately, you must have a strong mission when you start a business. Separate good ideas from good ideas and recruit the highest quality people, those who are responsible for your vision.

Use “technical methods.”

A major lesson learned from my career is the benefit of building a platform that enhances the ecosystem. Consider Android, AirBnB or Amazon.

If the business model is designed to benefit other participants in the ecosystem, rather than competing with other players in the ecosystem, it will have a broad impact on the industry. If you can create a system that connects buyers, sellers, service providers, etc., you can change the functionality of the industry.

PeerStreet has established a two-way market for private lenders and investors, providing dedicated analytics and data tools to benefit lenders, borrowers and the community of residents who ultimately provide loans. This will be another matter for you, but the more you can benefit from it and the more you compound it with others, the more powerful and durable your product or service will be.

Use the network.

Use the web so they can join your business. Large engineers who pioneered financial technology pioneers saw an ongoing support group, not the company they left behind. Perhaps this is unique in the technology field, but this enlightened company does support this employee movement.

For example, the Xoogler community is a group of graduates and existing employees of Google who work together at startups and get support from Google. New ideas and new projects have great aspirations, so from advice to investor introduction and recruitment, don’t be afraid to ask for help and use the network at every stage of your efforts.

The same is true of the new part of the network. I wrote an article about Andreessen Horowitz as a way of helping investors.

The day before, Deputy Defense Secretary and Presidential Assistant Matt Spence explained to President Barack Obama three times a week and continued to see him in the situation room when he encountered actual conditions. Osama bin Laden.

(In his resume) invite us to a small event with Los Angeles Mayor Eric Garsetti. Spence interviewed him on the stage and naturally incorporated PeerStreet into the conversation. We have enhanced our influence through a great company and a conference room made up of celebrities. This doesn’t happen every day, but if you get this kind of help, please accept.

Be creative.

Since we are creating new things, almost everything we do needs to look at things from a new perspective, such as how to use technical data.

However, marketing is especially important in highly regulated spaces. How to sell products that you can’t tell? We have learned to innovate. We do a lot of things, but an interesting but successful example is taking a picture of someone wearing a PeerStreet hat. Like sound.

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