3 main points I picked from Alejandro Crawford’s (Acceleration Group) brilliant lecture on Tuesday morning:
Entrepreneur/start-up: what is the problem that your business idea aims to solve and how does it meet the needs of your target group? Not all innovations have to be high-teach; “simple” service innovations are also important. So think what is that “simple something” that can make a change.
Two typical mistakes when developing business ideas:
1 a great new innovation that is never launched
2 developing something that has already been invented
What is your niche and what makes you special? Figure out what is different about you and embrace that difference. Then sell it to your customer, employer or any other target. “Weird is the new normal” in New York – and in life.
The second awesome meeting of the day we had at General Atlantic (picture of our group in the lobby), a world-known private equity fund focusing on growth. What I got out of the meeting is that G. Atlantic prefers minority shares in profitable, fast growing companies both in the US and globally. What they do “in the field” is that they equip their local offices with a combination of expats and local employees. Local expertise in investing in the local environment is considered highly important for successful buys and operations.