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5 of the Most Important Things When Founding a Startup

This article was written by Tomer Zussman, Co-Founder and CEO at TravelersBox, that allows travelers to convert leftover foreign currency at the end of their trip into usable digital currency (PayPal, iTunes, Skype, Pre Paid Visa, etc) through easy to use airport based kiosks. Establishing a startup is tough and challenging, but there are a […]

The post 5 of the Most Important Things When Founding a Startup appeared first on iAngels.

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This article was written by Tomer Zussman, Co-Founder and CEO at TravelersBox, that allows travelers to convert leftover foreign currency at the end of their trip into usable digital currency (PayPal, iTunes, Skype, Pre Paid Visa, etc) through easy to use airport based kiosks.

Establishing a startup is tough and challenging, but there are a few principles, that no matter which field you’re working in, you must follow in order to start the company with the right foundations and chance to success.

1. Your first investor is the most important one – Choose well

We’ve all been there, you have this great idea, the presentation is ready, you practiced the pitch perfectly and the only thing left now is cash. From my experience, most of them are very nice and even if they do not invest, in most cases you can get great feedback for your next meeting. I know. It’s tricky and it depends on the momentum of your roadshow but the decision on the first investor will be one of the most important decisions you will make throughout the life of your start up.
Once the money is in, you start dealing with decisions that will affect your chances to succeed dramatically. Having the right person next to you to help you, advice, criticize, show you a different approach and help youngest more money is crucial.

What should you consider when choosing the investor:
• Industry related (You must get the best advisor)
• Previous investments (don’t be shy to ask and even get references)
• Chemistry (like any relationship, if you do not connect, it won’t work)
• Reputation (It is very important to your next investor who is the previous one)
• Personality – are they good people?

2. Don’t do it alone – Share the restless nights

When establishing my first start up, I did it all by myself. This isa great challenge but most certainly a big mistake. Start-ups involve stress, tough decisions, multi tasking and a lot of sleepless nights, endlessly wondering – about what I did todaywhat am I going to do tomorrow and how do I solve all of my R&D, Marketing, Operations and Finance challenges. Doing it by yourself makes it even harder, youfeel alone in the battlefield, and it is indeed a battlefield. Having someone else to help you carry the load is important, it really changes the weight you feel on your shoulders and helps to have a clear mind in order to be creative and motivated.

3. Don’t look back (or sideways), Focus!

Time is of the essence and in most cases you don’t have the amount of money you need in order to get to your next milestone (even when you are positive $1M will take you all the way).

You should run as fast as you can for your next milestone, don’t look back, never stop and don’t get distracted by anything. You will heara bunch of “No”s, “This won’t happen”, “You are crazy trying to achieve this” and more. Set your goal and go for it. Remember, momentum is very important at this point in so many levels.

4. Don’t save your way to Success

I’m not saying throw your money away. You should have a budget and you should try to stick to it.

But, if you discover a way to improve, get sales, bring users or anything else that will get you closer to your next goal – even if it is out of your planned budget – go for it. You received money in order to achieve specific goals.

You’re better off running out of money earlier than planned while you achieve important milestones, rather than presenting your next investors that you kept your budget plans and you are the best in controlling expenses, but have achieved no or few goals…

5. Find the best team possible – ‘A’ players only!

There’s never time to train employees, no time to deal with micro management, and you simply can’t afford hiring and firing at this stage. Every employee you hire must be a Touch Down. Your team will be the one who will help you achieve your goals, without them you are just an entrepreneur… Without your team – nothing will happen. Invest your time to find A players, don’t settle for less than AMAZING. They need to be independent, goal driven and self-motivated. Don’t expect less than you expect from yourself.

Fintech entrepreneur? Here’s a bonus tip for you –

Take your most difficult obstacle and use it as a barrier of entry

Fintech will always involve regulations. If you come up with a revolutionary idea, you will most likely be working in a gray area in regards to regulation and legislation.
As a start up with limited resources, it is always hard to overcome these challenges up to the point that you might be forced to stop your activity or pivot.

Another way to look at is, is to understand how the regulation can be a barrier of entry for your competitors while an open path for you.

It is only when you truly, deeply understand the market and the reasons for the limitations and regulation, that this could be achieved. Coming up with few sophisticated changes (and some brave, but not stupid decisions); you can create a tough barrier to your competitors while you achieve your goals.

This article originally appeared on finance Magnates

Source: https://www.iangels.com/2016/01/5-of-the-most-important-things-when-founding-a-startup/

Private Equity

Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election.

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Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

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Redfin CEO Glenn Kelman says the boom could last into next year.

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election. (CNBC)

Kelman: Too good to last forever

“This level of demand is absolutely insane. I would expect it to last into 2021, at least,” Kelman said.

Recent data from the National Association of Realtors shows up the strength in the housing market.

Existing home sales shot up 9.4% in September beating expectations. Even though the median purchase price of a home rose approximately 15% year over year, there is just a 2.7-month supply of for-sale homes, showing tight market inventory conditions.

The 30-year fixed-rate mortgage averaged 2.80% for the week ending Oct. 22, down from 2.81% in the previous week and 3.75% a year ago, according to the Freddie Mac Primary Mortgage Market Survey. Therefore, mortgage rates crept even lower in the latest week.

However, “there’s no way it can last forever,” Kelman warned of the bullish conditions.

Canada: Off the charts

Meanwhile, at the northern neighbor, home sales activity in September is described as “off-the-charts.”

Housing data released by the Canadian Real Estate Association (CREA) last week showed a nationwide year-over-year increase in sales of 45.6%.

This was a new all-time monthly record for the third month in a row.

“This is starting to sound like a broken record (about records being broken), but Canadian home sales and prices set records once again in September … as they did in July and August,” said Shaun Cathcart, senior economist at CREA, in a statement.

Real Estate ETFs in the U.S.

The year-to-date performance of some real estate ETFs is shown below:

iShares U.S. Home Construction ETF (ITB)              +24.61%

SPDR S&P Homebuilders ETF (XHB)                          +20.83%

Vanguard Real Estate Index Fund ETF                      -13.91%

It may be noted that despite the boom conditions in housing, real estate ETFs and stocks have declined in recent days.

According to Barron’s, this may be due to yields on the 10-year and 30-year Treasuries moving higher in recent weeks.

Other reasons could be fears of inflation ticking up in the future amidst an improving economic situation.

Nevertheless, the view is that interest rates are likely to remain low for longer. So demand may remain strong.

“Part of what is fueling this boom is that the economy has just split into two and rich people are able to access capital almost for free, so, of course, they’re going to use that money to buy homes,” said Redfin’s Kelman.

Related Story:   Mortgage Rates Set Another Record Low; Real Estate ETFs Could Benefit

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Source: https://dailyalts.com/alternative-investments-real-estate-housing-market-demand-is-insane/

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Private Equity

Asda’s new owner EG Group seeks new leadership ahead of IPO – report

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month

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UK grocer Asda Group’s new owner EG Group is looking for a new chairman and independent directors as it prepares for a £10bn initial public offering, The Timesreports.

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month.

The move comes after Deloitte resigned last week as the company’s auditor because of concerns over the group’s governance and lack of internal controls, according to the publication.

A decision on candidates will be taken before the end of this year, although roles haven’t been finalised yet as the company is in the process of deciding whether to float in the UK or the US, The Times reports.

Write to Barcelona editors at barcelonaeditors@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/asdas-new-owner-eg-group-seeks-new-leadership-ahead-of-ipo-reports-20201023

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Private Equity

Lone Star agrees £630m deal to buy UK’s McCarthy & Stone

The American private equity firm is expected to back the strategy of Britain’s biggest retirement housebuilder to build more homes for rent

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McCarthy & Stone said Friday, 23 October, that it has agreed to a £630m all-cash takeover by Lone Star Real Estate Fund VI.

Under the offer, accepting shareholders of the London-listed retirement-community builder will get 115 pence in cash for each share held, a 39% premium to its closing share price of 83 pence on Thursday, 22 October.

“The all-cash offer represents a compelling and attractive opportunity for shareholders to realise and crystallise their investment in McCarthy & Stone in the near term and also provides a meaningful premium to the prevailing share price notwithstanding the backdrop of the wider risks posed by the political and macro-economic environment,” McCarthy Chairman Paul Lester said.

Write to Ian Walker at ian.walker@wsj.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/lone-star-agrees-630m-deal-to-buy-uks-mccarthy-stone-20201023

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