Posted by & filed under Accelerator, Entrepreneurship, Startups.

Sooner or later on your entrepreneurial journey, you will face the question whether you should go for an accelerator. And if, for which one.

Accelerators can really help you accelerate your growth (hence the name). But only if you find the right accelerator for you. And if you are ready for it. Just going with the most famous one or the one closest to you can do you more harm than good. The accelerator needs to fit your startup’s needs.

Here are a couple of things to take into consideration when looking for The One for you, or if you really should even go for one.

1. How committed are you?

If I had to choose just one word to describe accelerators it would be intense, both in good and bad.

During the accelerator, you are going to work hard, probably harder than ever before. Everything is accelerated. And what’s everything? Well, that depends on the accelerator (and you!). But things like learning, making right and wrong decisions, changing routes accordingly, reaching customers, pivoting, maybe even more than just once. In essence: a lot of things will happen and all of it will happen at the same time. Though only if you are there and putting in the effort. Accelerators accelerate, they don’t do the work for you. And intense results require intense work.

So, you need to figure out what is your commitment level, if you are ready for all that. Will you be able to put in your 100% and more during the months of the program? Or would something less intense work better for you instead?

Accelerator = hard work


Think about your life realistically.

Are you just testing the waters if your idea has any potential and want to still continue in your day job just in case? Then an accelerator that requires fewer hours might be the best option for you. Or do you have a baby coming, sickly parents to take care of, pet, hobby, anything that prevents you from giving your all during the accelerator?  Most likely you also need to relocate for the accelerator (unless you are super super majorly lucky and the best accelerator for your startup is right next door). Is that possible? Yes, some things may be worked out, but those kind of compromises always show.

For some accelerators, it is even a requirement to work full-time on your startup. That’s because they know how big of an effect it is going to have on your results. And not only does it show that you are committed it also proves you truly believe in your idea. If you don’t believe in your own idea enough to work on it full time, why should they?

So, think about your day to day life and be realistic about how committed you can and will be. If you put your mind into you will find the accelerator that is going to help you the most. AND can actually work with your life, even if it means joining an accelerator a bit later in your startup journey.


2. What kind of network do you want to build?

Accelerators are great at helping you grow your networks and be known where you need to be. But only if you choose an accelerator that makes it possible. Not all networks are made equal. If you go to an accelerator where you can grow a good-sized network, but of the wrong kind of contacts or in the wrong market, does it matter? No. You won’t really get anything out of it. At least when compared to if that network was filled with contacts that were actually relevant to your business.

Let’s say you are a fintech startup and big banks are your potential customers. Then a fintech accelerator that is done in collaboration with bank(s) is probably your best bet. But if you are a biotech startup, going to a bank accelerator will not the best choice for you. No matter how close it is to your home or how great the people behind accelerator are. Accelerator is great for you only if it helps achieve your goals.


So think: What is your industry? Are you a B2B or B2C startup. Where is your target market located? Who are the people, the influencers you need to reach? Can the accelerator give you direct contacts to your customers? Accelerators will not only help you create networks with your alumni but also with the key people in the industry, customers, investors, advisors and much more. That is why it is important to find the accelerator that matches your goals.

Ask yourself: which accelerator can connect you to the people and create the networks you need?


3. Your preferences & musts?

Every startup has different needs. After you have figured out your realistic level of commitment and what kind of networks you want to build, there are still many many things to consider. Things that are specific to your startup. Some of the key ones include:

Accelerator’s style:

What type of accelerator are you looking for? Do you want more hands on approach where you get help specifically for your startup? Or would you rather just hear tips from the ones who have already done it?

There are as many kinds of accelerators as there are accelerators. There really isn’t an official definition of an accelerator. That’s why the spectrum of different accelerators is also quite wide. When we talk about accelerators we mean intensive, time-limited coaching and business development programs that offer investments. Some accelerators offer investments, some don’t. Some accelerators emphasize building networks, some coaching, and more hands-on workshops. Figure out what would be most helpful for you.

Mentors & mentoring:

Different accelerators have different kind of people as their mentors. They even mean different things with the word mentor. Are the mentors they have relevant to you? Knowledgeable of your industry, issues you struggle with, do they have knowledge from your customers’ side?

And what does the accelerator mean by mentoring? Is the big name mentor going to give a lecture and a short Q&A or will he or she sit down with you to work on your startup? How important it is for you to have that one-on-one time with the mentors? What do you really want mentoring to be like?

After accelerator:

Do you want to get help from them also after the accelerator program itself ends? If you do it might be better to go to one that invests in the startups in its programs. That is because they probably want to make sure their investment is doing well and are much keener on helping you, their investment, also after the program. Or would you rather just get the learnings during the accelerator and not be bothered with keeping in touch with it? Also, what does it really mean get help after the accelerator ends? How much effort is the accelerator willing to put into helping you after the program?


Do you need funding and how much? How much of your equity are you willing to give away? Do your numbers match with the accelerator’s? When thinking about the investment from the accelerator, you need to consider the overall package: for example, the coaching and other support in addition to the invested money.

Though remember that you should never do it just for the funding! It is not going to take you far, far from it. Though I am sure you are one of the smart ones and the thought didn’t even cross your mind ;)


4. Are you coachable?

I.e. are you ready to learn, accept others’ advice and in general, know you cannot know everything needed in this world. In short: your attitude.

If you already know everything, attending an accelerator might not be for you. I mean, accelerators are for learning, why would you go to one if you already know it all? You’re just going to waste your own and the accelerator people’s time. Though of course, if you do it to build a network then accelerator might still be worth your time (but are you worth the accelerator’s time, that’s a different story…).


Being coachable is also the very same thing investors are looking for. Nobody likes the know-it-alls that only want money, especially not investors.

TL;DR Do your research. Think what are your needs and what you can give, and apply to the the accelerator(s) that matches those. And remember: there is no one ‘best accelerator in the world’. It is different for everyone!

What are the ‘musts’ you are looking for in an accelerator? Share in the comments, we’d love to hear!


Related post: How to build the next startup unicorn?


Posted by & filed under Customers, Entrepreneurship, Marketing, Social Media, Startups.

They say social media is amazing for companies, especially startups. A must even. But in your experience, it’s just a waste of time. Usually, the reason is that you post the wrong kinds of posts, but also that you are on the completely wrong channels.

Here is a lesson that could not be simpler and even more obvious. But a lesson I want to share because, in practice, it seems to be nothing but obvious. Startups know they should be on social media, but they waste a lot of their time on wrong things. And surprise surprise they don’t get the results they want. It is about what they post, but many if not most startups get an even more basic step completely wrong. They don’t use the right social media channels, the channels that would really bring in the results. Meaning no matter how amazing posts you are putting out none of it matters if your customers don’t see them.

Only the channels where your customers are matter

What startups usually do is that after deciding they need to be in social media, they think which channels are hot and start creating accounts. The end result is they will have too many accounts and they don’t have time to do them well enough. And most likely they are wasting their precious time on channels that will bring them no results no matter how well they do on them.

The only channels that matter are the channels that bring you results. And usually, that means the channels your customers use. Like everything your startup does, also marketing and social media should all start from your customers. Let’s say you have a fashion brand and your customers are females in their 20s. Then Instagram is probably your best bet, probably also Facebook. Linkedin? Not so much. But if your customers are professional males in their 50s or 60s Linkedin (or nowadays also Facebook) is just the thing. And then Instagram, probably a complete waste of time.

So, creating great content is the number 1 thing that will make or break it whether you will get something out of your social media efforts. But if you are doing it all on wrong channels your effort is 100% waste of time.

How to find the right channels for your startups

Like I said earlier: be where your customers (and other important stakeholders) are. The best-case scenario would be that you know what those are for a fact. If you don’t, you need to start making educated guesses and change accordingly when you get more information. Also, just ask. You are talking to your customers and potential customers anyway, so why not ask about where they are active.

If you have no idea, you can start from thinking about your customers’ demographics. The Internet is full of information about who uses what social media channels. Then you can start using facts like your customers’ gender, age, income level, interests etc. help you make an educated guess. Here is one website to help you out.


Social media demographics age


These are just some of the most popular channels. …which is why it makes no sense for startups to try to be on all possible channels.

Demographic factors usually help you a lot, but don’t be blinded by them. Let’s say your target group is photographers, male and 35+ years old. Then just by looking at demographic factors alone, you wouldn’t go for Instagram. But that would be a grave mistake! What is Instagram? A photo sharing app. It’s filled with people interested in photography and pro photographers.

Also, remember not to focus only on the buyer, the one who actually makes the decision of buying. Think about the people who have an influence on that buying decision. A clear example is toys. An adult is the one who pays for the toys, but it’s kids who say ”I want that!!! Buy it!”. Then you should be active where the kids are, and of course, not completely neglect the parents either. Or if you are selling something to the government or bigger organizations. The decision makers are important, but so are the assistants who actually scour through the options and present them to the decision maker.

Be realistic about your resources and what even is possible

Think of your resources and what makes sense. Even if your customers use ’all’ social media channels, you probably shouldn’t be in all of them. Unless your startup is strongly tied to social media, you just won’t have time. That’s coming both from personal experience and seeing what happens with startups. It’s better to focus on the most useful channel(s) and do them well than to do poorly on many channels. Doing social media well does require time and effort, so don’t spread yourself too thin.

Another thing to consider is what even is possible for you. For example, let’s say your customers use a lot of Instagram and quite a lot of Twitter. Instagram would then be an obvious choice. But for some companies, it might be harder to create good content on that platform. If you have a fashion brand, it is easy to take good photos that create value, something that makes people want to follow you. If you do IT consulting, not so. Then it is a safer bet to focus on the number 2, Twitter. Though of course, if you can actually figure out how to do Instagram super well, you will reach your customers where they are AND where your competition isn’t.

In short:

  1. Only be on the channels where your customers are
  2. Don’t spread yourself too thin. Start only with the most important channel(s). You can always take over more later.
  3. Create value. Just pushing your products and services will not work.

And that’s it for today! Do you have any learning about choosing the right channels? What worked, what didnät?


You might also be interested in: How to talk to your customers and build better products?


Posted by & filed under Customer development, Entrepreneurship, innovating, Product development, Startups.

How to be a successful entrepreneur? How to create the next Airbnb/Uber/Dropbox/startup unicorn? Hands up, who hasn’t googled something like that even once? Or at least clicked once on those millions and millions of articles about creating the ‘next big thing’.

But if that’s what you are asking you won’t succeed. Might sound harsh but it’s true. Hey, I do understand; who wouldn’t want to be the founder of the next SpaceX. But the thing is that if you just want to have a successful startup for the sake of having a successful startup, you are focusing one the wrong things. You are focusing on the fame, money or whatever fancy thing you are imagining, not on what can get you there. And that is having a startup that is actually worth it.

All successful startups give people something they are dying to get. They are solving a problem, a crucial need people have. The more people your startup can help, the more desperate they are to get that problem solved, and the better you solve it the bigger your success will be.

So, how do you create a successful startup then?

Didn’t I just tell you to stop thinking about it!?!? …juuust kidding. In all seriousness:


Have an idea (well, duh)

Often what happens is that the founder(s) sees a need. That something could be done better and figure out a solution for it. They start thinking ”why is it like this. Why can’t it be like that.” Boom: an idea is born! (in a very very simplified form).


Validate that idea

Ideas are an essential part of founding a startup. But we all have ideas and only a few of us are successful entrepreneurs because of them. That’s because not all brilliant ideas really are brilliant. You need to validate your idea. Is it something that would make only your life better? Is it crucial enough and for enough people? Or just ’nice to have’?

Is the need big & crucial enough?

I.e. are people actually willing to pay for you solution and are they enough of them. If they want your solution but not to pay for it (=the need isn’t crucial enough for them), you won’t make any money and your business will die. Or if only a few want your solution (=the need isn’t big enough), you won’t make enough money and again: your business will die.


”But everyone needs my solution…”


Stop you fool!


If that’s what you think, stop! Stop, sit down and think again. You might still be able to save your startup.

Unless you have found a way to capitalize air, there is nothing everyone needs. ”Everyone” is the easy answer many go for, and the answer that will ruin their all chances of success. When you think that everyone will be your customers, you try to please everyone. And that doesn’t work. You will end up doing compromise after compromise and then your solution fits no-one. Or you just don’t even try and create a solution that only solves your problem and nobody else’s.

Bad validation is one of the most common reasons startups fail. They get so blinded by their ’brilliant solution that everyone in this world will buy’ that they forget to check the facts. Don’t be like them. Validate, and do it properly. Here’s an excellent post from Startupgrind to help you with that.

The best case is when your product is not just a ’nice to have’, but a must to have.


Execute it awesomely

”Ideas don’t matter, only execution does.” – pretty much every successful entrepreneur.

No matter how brilliant your idea is, the idea that is executed the best will win. After all brilliant idea is just an idea, still a long way from becoming reality. And rarely there are any truly unique ideas (there have been search engines before Google, social networks before Facebook and so on). We now ’google’ things because Google had the best execution of the idea, same with Facebook and many many other businesses.

No-one will see the brilliance of your idea if the reality of it just screams bad execution.

And a key thing to remember is that execution is 100% up to your team. It’s about their skills, experience, connections, everything. Many entrepreneurs just hire their relatives, friends, old acquaintances who need a job. That’s very noble of them but only works if they have the qualities needed to make that brilliant idea into reality. And if you ever dream of getting investments, you better have the kind of team that gets them. After all, investors usually look at the team even more than the idea itself. More about that here.

Learn from the unicorns – real-life examples

Let’s look at Airbnb. The economy was (and unfortunately is) tough, and many were looking for extra income. They also had empty space in their homes. Unused rooms, or whole apartments due to traveling. At the same time, people wanted to travel but not spend that much money on their accommodation. There was a demand and then there was a solution: Airbnb.

Or Uber. Again tough times. People need an extra income and they have an idle car. At the same time, others need convenient transportation, like taxis but without the price tag. Again: big need many really want to get solved.

In short: they had a great idea, an idea crucial for many and they knew how to execute it well. And now Airbnb is worth 31 billion dollars. Uber 62,5 billion dollars (as of March & April of 2017).


Related post: Startup mistakes to avoid


Posted by & filed under Banking, Customer development, Customers, Fintech, innovating, Startups.

The digital revolution has happened. And now it’s banking’s turn. Fintech are here and banks can lose up to 60% of their retail profits in the next decade. But will they? And why would they? What is going to happen in banking and fintech?

About a week ago I attended MoneyFintech-seminar and got to listen to the brightest minds of fintech and banking. Here are the four big things that are hot now and in the future of fintech and banking.

New regulations

When talking about banking and fintech, regulations are a topic you just cannot ignore. The hot potatoes of the industry: PSD2, open banking, and many others are wreaking havoc in banking.

PSD2, open banking – new regulations level they playing field for fintechs

One key goal of the new regulations is to level the playing field between fintechs and banks. It means more opportunities for more new fintechs. And that means new opportunities, new companies, new jobs and so on. The industry has been booming and the new regulations don’t seem to make it any slower, the opposite.


Bad news for banks: half of consumers are open to 3rd party providers

Source: Kevin Poe, CGI

Consumers don’t feel connected to their banks and half of consumers are already ready to try 3rd party service providers. While consumers still prefer their current bank to provide new services it is greatly declining. All this is great news for fintechs but not so good for banks. Banks can no longer just sit on their asses and wait to see what happens.


It’s up to banks to decide the role of fintechs in the ecosystem

An interesting point in the speeches was that in the end, it is up to the old masters of the industry, banks, to decide what kind of role fintechs will take. Will banks refuse to change with the industry and let fintechs take over? Will they re-invent themselves and fight back? Or maybe the most beneficial for all: will they learn to collaborate with the other players in the ecosystem?

Not everyone can nor should do everything. Instead of wasting time on trying to win everyone on every battleground, banks should collaborate with the ones that would give complementary value to your offering.

“Fintech will bring lots of opportunities for everyone. But it is true only IF collaboration happens.” -Annukka Paloheimo

Like Lars Markull said: “PSD2 is not THE solution for banks, but something that pushes them to the right directions.” It forces them to act instead of just watching passively in their ivory towers till they have become completely obsolete.


Customer focus

The regulations are changing and fintechs have the opportunity of a lifetime. But the biggest winners will be the customers. They are the ones who will have all new kinds of financial products, their old services will be much simpler, and for every product and service they have been forced to get from one provider, now they will have an excess of options. And as we know, options is never bad for the customers. But for banks and fintechs it means fiery competition.

“Thanks to fintechs and technology houses customers are aware of their options, that there even are options. That has shifted the power from the banks to the customers. Now customers are in the driver’s seat.” – Kirsi Larkiala

The winners will be the ones who serve the customers the best. The ones who don’t just focus on the customer but what the customer is focusing on. If you can bring something great to the things matter most to the customers, that’s the recipe for success. Or like Jarle Holm put it: “If it’s going to increase your customer’s equity, it’s going to grow your equity.” And the key to that is to stop thinking about customers as customers and start thinking about them as humans.


Illogical, obsessed with social relationships, i.e. your customers 

The biggest winners will be the companies that understand what customers essentially are – humans. Beings who think they are rational, but in reality are far from it. Beings to whom social relationships are more important than almost anything else. That’s why customers’ losing the feeling of personal connection to their banks is such a big deal. And that’s why the companies who also serve the social relationship needs of their customers will succeed. Companies need to understand how their customers make their decisions (not as rationally as you’d think), and how to build strong relationships with their customers. And to think about their future customers already today. For example by 2025 millennials will make 75% of the workforce. The ones who will start building relationships with them then are way too late.


The future is not ‘ready’. It needs to be innovated together with the whole ecosystem.” – Kirsi Larkiala

In fintech, one as often mentioned topic as the new regulations is collaboration. In fact, 82% of financial institutions expect to work with startups in 3-5 years.


82% of financial institutions expect to to work with startups in the next three to five years.

Source: PwC

1 in 2 banks expects to partner with fintechs later than in two years, which is pretty slow (even too slow?). They see the benefits, but at the same time they have a huge responsibility. Banks spend on regulation and compliance 321Bn (inc fines). Having customers’ trust is more important than pretty much any other industry. And if something happens because of the 3rd party, the bank’s partner, that trust is lost. The customers see that the bank is responsible of their partners. But regardless banks know they can’t not collaborate with startups. Why? They need the innovations & to learn.

“Innovative companies seeking aggressive growth are the future of Finland and Europe.” – Eeva Grannenfelt

Working with startups to get innovations

There are many reasons corporations aren’t the kind of innovation powerhouses startups are. One of those is the fear of failure or losing their reputation by putting out something that is not ’perfect’. That is why the startup-like use of MVPs might sound absolutely horrifying. And they do have a point. Like Pekka Puustinen from insurer Ilmarinen said, corporations have a whole different kind of reputation to keep than startups. Putting out ‘almost ready’ products is not as easy for big corporations like it is for startups. ”Porsche can’t put out a car that almost works”, he said.

As banks have their constraints they go for startups for innovations. And it makes sense. Startups are innovation powerhouses without the constraints they have. They don’t have such a big reputation to upkeep, and they are the masters of using failing as an innovation tool. Eeva Grannenfelt even said large companies have outsourced the R&D partly to growth companies. Startups definitely can be a tool for banks to meet the new expectations of their customers and do so without risking their reputation.


Working with startups to learn

But none of the above means the banks can just sit around. While startups can be an amazing way to find the much-needed innovations, they themselves need to change for the future. While Porche can’t necessarily put out ‘almost ready’ cars, there are multiple ways more ‘startup like’ approach would work wonders for corporations. That’s why they should learn from startups. Learn to be faster, agiler, more innovative. And even fail. Like Topi Järvinen said: “Failing isn’t necessarily bad. You can learn a lot from it and thus do better the next time.” Failing (the right way) is an essential part of innovating and by no means automatically means PR disasters.

Based on the talks banks gave that’s exactly what they are looking for. Most of them talked about how they need to reinvent themselves and learn from the startups. That’s why banks should use accelerators and startups just for innovations, but as something to change their entire organization. The ideal situation would be getting innovations from outside the house (startups) but also being able to innovate in-house. And at the same time be more agile, fast, more startup-like and less stiff like corporations usually are.


Accelerators shouldn’t be just tools to get innovations, but tools to change the whole organization

Source: Topi Järvinen, Nestholma


China: the promised land of fintech

An old Chinese professor of mine joked that in China copyright actually means the right to copy. China definitely has been an excellent copier of all innovations big and small. But now China has gotten far from that: they have changed from copycats to copy tigers. In China, fintech is booming.

China is a great breeding ground for fintech. The country is going through rapid urbanization, they have regulations that support the growth of inland fintech innovations, a massive and underserved SME market, rapidly growing of e-commerce and also explosive growth in online and mobile penetration (read more here). Technology is changing so rapidly that they are skipping many of the unnecessary steps like landlines, dial-up internet and so on, and going straight to mobile payments innovations like that. And the people are more than willing to do so. For example, 40% of Chinese consumers have adopted mobile payments, which is massive. China truly is the perfect breeding ground for fintech innovations.

“Fintech in China is delivering the promise of fintech – making changes of unimaginable size” – Ronit Ghose

China is coming and the West better listen

China’s policy has been to forbid Western services like Google, Facebook, Youtube, and many more to have their own versions instead. There are multiple reasons why, one of them being giving the business opportunities to Chinese companies. The Chinese not only copied the service but also evolved them further (e.g. mobile wallet in their social media services like WeChat). Before you could just think ”oh well, the Chinese have their own versions, so?” and move on with your day (unless, of course, the Chinese market was important to your business). But now that is not possible anymore.

The Chinese consumers are the fastest growing segment in the world. Now there are 300 million Chinese consumers and by 2022 there will be 600 million. And it’s not just the massive amount of them, but also their great purchasing power. McKinsey estimates that by 2022 the upper middle class will account for even 54% of urban households.


The upper middle class will account for even 54% of urban Chinese households

Source: McKinsey & company

In short, there is an ever growing amount of wealthy Chinese who want to spend. And they don’t just want to spend it all at home. They want to travel and spend it on foreign (premium) goods.


Chinese outbound tourism growing strongly

Source: Johan Andrén, Handelsbanken

It may sound like the Chinese are taking over the world (and maybe they are), but in our current interconnected world, all that spending is going to mean more jobs all over the world. And that’s great (if you are not an avid tinfoil wearer ;))! But that also means the so-called Chinese versions of everything are now also relevant here. Or they should be. Like Ronit Ghose said: “When the mass of wealthy Chinese tourists come, Western companies have to accept Chinese payment methods or they get nothing.” On the streets of my home city Helsinki, there are more and more signs in Chinese. Talking about the Chinese payment methods the shops now accept, wishing happy Chinese new year and so on. The Chinese are coming and you should be ready.

…or should I say Asia is coming instead? China definitely is ahead, but other countries like India are catching up fast. You should keep your eyes peeled.


Antti Kosunen ended his portion with the following quote, and it seems like the perfect quote to end this post: “If the rate of change outside your organization exceeds the rate of change inside, the end is near.” – Jack Welch


Posted by & filed under Corporations, innovating, Startups.

Go f.... disrupt yourself!

Many startups say they are disrupting something. And they might, we live in one of the most uncertain times in history. But how can corporations know what to expect? How can they know what the big changes in the industry will be?

The bad news: you’re not as good as you think figuring it out on your own.

People love talking about “disruption”. Fintech startups with the banking industry. Autonomous and electric with the automotive industry. Peer-to-peer with real estate. TechCrunch has even named its conferences “Disrupt”. Welcome buzzword, let’s all go disrupt something! And is disruption even a good thing for startups? According to Peter Thiel, not at all. It doesn’t say much about your business if the biggest thing about it is what it displaces. Tweet this

Disruption is what the big players call an innovation that they didn’t see coming. Tweet this

A hammer is not a disruption to a video casette. A streaming service is.

And why would you not see it coming? It turns out it’s more difficult than most people expect. I’ll give you one example. A technology that is getting a lot of buzz lately is Artificial Intelligence. We have a few startups in that field in our portfolio. I’m sure you’ve also heard claims about how it’s going to displace a lot of jobs.

What was your answer to that?

Let me guess… was it close to “poor guys, I’m so lucky it won’t displace my job though”?

I’ve been talking with a lot of people about this topic, and let me break out a sad truth to you: everybody thinks that. Tweet this. Doctors, consultants, teachers, drivers! “Oh, it’s going to get a lot of people out of their jobs. But for sure not in my area. We do different stuff. There’s still a lot of things they don’t understand about what we do.”

And there’re two reasons (at least) for that.

The first and most obvious is that the closer we are to something, the more assumptions we have about it. Tweet this. You have assumptions about how your job “should be”, based on how it is. You have the assumption that everything that you currently do is necessary.

The second one is that what disrupts a market is not an improved version of what you currently have. Tweet this. What will displace your industry is no necessarily a substitute of your current offering. It will be something that makes your current offering irrelevant. But by definition, it will be very different.


Sometimes new innovations don't seem like they could replace the old thing because they seem so different.


Take the case of the ice factories in the 1920’s. It was one of the biggest industries at the time. On 1927 came the refrigerator. Many people in that industry though “oh, sure, but that’s not the same thing”. Still, most ice factories closed down. The disruption didn’t come from better ice. It came from something else, that made selling ice almost irrelevant. And they didn’t know how to renew themselves.

Let’s bring the example to the present time:

  • Think about the automotive industry. Will the biggest disruption be better or more efficient cars? Probably not. We will move towards something that will make cars less relevant. It might be advances in shared economy, better-shared transportation or communications. It might be all the above.
  • Think about fintech and banks. Will the biggest disruption be a startup that is a better version of your bank? Probably not. It might be a swarm of little startups. An open architecture. A different way to deal with information. It might be all the above.

The good news: working with startups will help you.

A couple of weeks ago the Nestholma coaches took part in Tony Robbin’s seminar Unleash the Power Within. We heard much about human nature and about beliefs. In particular, we heard about how self-limiting some of them can be. To get rid of those beliefs, you need to break existing patterns and create new ones.

If you want to understand what’s coming, you need to do more than knowing the context. You need to be ready for change and renewal. Need to be agile. You need to know how to work with the change. You need to know how to work with startups.

You even need to be part of the change. You need to disrupt your own business. If you don’t, somebody else will. You need to be working on the things that will make you obsolete before somebody else does. Tweet this.

This can be scary. But instead of fearing those changes, you need to embrace them and turn them into actions. The world is going to change anyways. If you renew yourself, you’ll stay on top, and the change will be good for your business. Tweet this. If you use startups only as an innovation band aid, you might see it coming… or not.


Working with startups will help the people in your organization in many ways:

  • It will make them think bigger, and raise their standards towards innovation. If working with startups becomes part of their DNA, they will be more likely to think innovatively, expect shifts in the market… and dare be part of those shifts!
  • It will make them think in a sharper way. Tony Robbins says that complexity is the enemy of execution, and any lean startup will agree. In corporations, things can become complex very fast. Even when things are not complex, they are sometimes made complex. Startups are good at cutting through the clutter. They can’t afford to make things too complicated. They have to be sharp and lean.
  • It will make them think like intrapreneur change agents. Change requires champions. Entrepreneurial thinking is a great tool to plan for uncertainty. It’s a great tool to even understand that uncertainty. It’s a tool for making things happen.

In short: be ready to renew your organization by working with startups… or somebody else will! Tweet this

Dr. Daniel Collado-Ruiz, @ErCollao

Do you like the content? Do you disagree? Are you interested in hearing more about other related stuff? Drop us a line in the comments or on Twitter, and let’s chat!


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Posted by & filed under Accelerator, Corporations, innovating, Startups.

Renewal of the companies is on the mind of every CEO. Not to learn more but to break the patterns. It´s easy to learn new stuff, but difficult to unlearn. We go back to our habits unless something becomes a habit.

Break the patterns

All Nestholma coaches took part of Tony Robbins 4-day seminar in London. We are here to learn how to become better coaches. Tony Robbins made us experience. He made us repeat. Breaking our patterns and repeating new ones, so it becomes us. And that´s what corporations also need.

Active waiting

I also had a pleasure to listen to professor Liisa Välikangas earlier this week. She talked about “active waiting”. It means that people have to be learning to be ready for the unknown future. When I listened to her I realized that a startup accelerator is an active waiting tool. You don´t learn how to play soccer by analyzing it from the distance. You have to play it. And you have to play it when the game starts. Most of the times organizations don´t understand that the new game has already started. Some key players understand the importance and the urgency to change, but most of the people don´t.


Nordea`s CDO Ewan Mcleod answered with one word why startups are good for learning purposes: “FAST” and he continues: “we have to be fast”. And that happens only if the patterns of the old behavior has changed. And when people have been “actively waiting” they can act when needed.


Happy labor day! Let´s change the patterns of the labor, wait actively and act fast.



Posted by & filed under Accelerator, Corporations, Entrepreneurship, Innovation, Mentoring, Startups.

Most collaboration between startups and corporations shows very little results. The reason is that they are just trying to improve bits and pieces of, for example, the offering. That’s not enough. The winners will be the ones that can renew their attitude, learn to adapt and embrace the change. Startup collaboration is the best tool for that, but it needs to be done right.

Startup collaboration is not an innovation band-aid

Startups are not innovation band-aidMany corporations still try to filter out the perfect startup candidates before starting to work with them. They usually end up with companies that have a product that can be easily integrated with the current offering. Good for them if they can provide something useful for their customers, but that approach rarely ends up in changing anything. It usually just turns into an incremental improvement.

It doesn’t help you if you do the same thing a bit better than before. Not when in most industries you don’t know how your business will look like in just a few years. Corporations need to break the familiar ways of doing things, break the patterns to get ready for the unknown. Companies need to build skills to be ready for the future. The old skills may not become obsolete, but everyone needs to find new ways of using the old skills in new environments. We need to be experts at finding new uses for the things we’re good at. We also need to become experts in the new things that are needed to solve our customers problems.

While startups can learn a lot from corporations, also the startups can teach the corporations many things. So, why do many corporations go only for the incremental improvements and one-by-one collaboration with startups? Because this way fits their existing way of working. They have used subcontractors and other types of partner forever and startups are no different. Corporations are really good at buying products and services. They have developed efficient procurement models and processes that they want to use also with startups. But that is not enough. In fact, I think that this way of working totally misses the point and the big opportunity.

Turning from individual innovation partnerships to powering the renewal at corporations

Nestholma started with the idea of helping startups and corporations to build new innovations and make deals together. In our accelerator model, we make the startups and corporation work together with clear business goals in mind. That has worked really well in the 20 accelerators we’ve done. Still, over the past two years, we’ve realized that it’s much more than making a few deals happen or arranging a great Demo Day pitching events.

Couple of interesting things have happened: HRD and entreprenership

To make the impact of the accelerators as big as possible, we’ve ended up coaching not just the startups and also the corporation’s employees. Regardless if you talk in the context of change management or broader transformation, our work has been more and more about helping the employees to learn from the startups. This has helped them to become better at facing whatever challenge may lie ahead of them.

Many times the management is a bit worried that the employees may not have enough time to work with the startups. Our experience is that the employees love to work with the startups and find the time if there’s good support for them. Also, we’ve found that it’s not just the innovation people, but everyone in the organization that wants to join from customer care to sales and tech. After working with startups many corporate employees have told us that the work with startups has given them new boost on working with the other things, as well.

The other interesting thing has been the work we’ve done for the ex-employees of Microsoft and Nokia. These companies have laid-off thousands of employees in Finland over the past couple of years. As a Finnish company we wanted to see if we could use our business coaching and accelerator model to help them to find their new path in life as entrepreneurs. In great co-operation with both Microsoft and Nokia, we’ve coached hundreds of ex-employees from these companies. Some have become entrepreneurs, some have gone to work in small companies and some are just using the entrepreneurial mindset to pursue whatever else they want in life (read more in Finnish). Not everyone has ended up being a growth company entrepreneur, but we have found it important give back a little by using our expertise to help them.

Nestholma's startup accelerator and entrepreneurship coaching model.

Business leadership and HR can drive the change with startups

Still, what started out as an interesting experiment and an effort to share our knowledge, turned out to be one of the biggest learnings for Nestholma. This experience in coaching the entrepreneurs has helped us to develop a deep understanding on how to help also the employees still working inside a corporation to change. In fact, we find ourselves increasingly in the same tables with the business leadership and HR. They want concrete business results fast, but they also want to make sure it’s not just what I sometimes call an innovation band-aid. They want to see sustainable impact in the entire organization and business as well as sustainable renewal of the company.

Business leadership and HR want to make sure the entire company is able to quickly

  • adapt to new market conditions
  • find out what are the problems worth solving
  • learn new skills while they are working
  • move effortlessly between different types of internal and external operational models (startups, internal ventures, line organization etc.)
  • reinvigorate the employees to pursue new paths in their personal professional growth
  • turn high level strategic goals into real business initiatives

And we’re very happy to be there. With our two-part accelerator and entrepreneurship coaching model, we can provide the tools to tackle these needs and more. The great thing is that this is also the best way to help the startups learn and succeed.

Topi Järvinen @topij

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Posted by & filed under Accelerator, Corporations, innovating, Startups.

We are going through huge changes in technology and in the world in general. The future has never been this unpredictable no matter what industry you are talking about. Now is the last chance for big corporations to ditch their stiff structures and slow ways of working. To become agile and innovative like startups. That’s the recipe for success in the future.

Big organizations have a lot of benefits over startups: brand value, funds, knowledge of the industry and so on. But they are definitely not known for agility, disruptive innovation power and all the other things startups are amazing at. Corporations have already understood that working with startups is great PR and a way to get great innovations – way ahead of their competitors. But most are missing the biggest learning experience they could ever get. Startup accelerators shouldn’t just accelerate the startups, but also the corporation in the program.

We have now done 20 accelerators with big corporations. One of the biggest learnings has been that it is not just the startups evolving during the accelerators. The big corporations have also changed. The more involved the corporations have been, the bigger learnings and changes they have seen. In this post, I will talk about some of the key learnings on how you can transform your organization with startups.

Learning from startups organizational learning


1. If you want to achieve a lot, don’t settle for too little

Working with startups can be scary for a big corporation. Startups often seem like a completely different species. The way they act, their speed, even the way they speak are just so different. It is a completely new kind of world to operate in. A scary world. And at the same time the corporations are worried about the returns: will it really be worth the effort.

That is why many choose to go for a smaller event like hackathons. And sometimes that can be a great first step. But the expectations should also be appropriately small. That is because no matter how great the startups and teams in the hackathons are, they still only have a couple of days to do miracles. Or some corporations try to get the benefits by working with just one or two startups. But the thing is, you need to be lucky to get the right ones for you.

Those kinds of things can be a great way to get a peek into the startup way of working. But for organizational learning and real change, they are usually not enough. That’s why there are accelerators.

Accelerators are still relatively short in corporate terms (the program itself about 3 months of so), but for startups that is a long long time. They can do real miracles in weeks if not even days. And a couple of months means many many miracles. During the length of the accelerator program, the startups will also get to know you and your challenges so much better. That means they will create ready solutions that are pretty much tailor made for you. Of course, this means that you have to give them the possibility to learn about you; you really need to work with them. But that is also how you will transform your own organization.

2. To learn, you need to do

Your organization is your people, your employees. No matter how great your products or business in general are, they are nothing without the effort of your employees. They often say it’s not the great idea, but the execution that matters. And execution is on your employees’ shoulders. And that is why to transform your organization you need to transform them first. That’s the beginning of changing your whole organization, from inside out.

For your employees to learn and change, you need to get them doing. A lot of organizations send people to seminars and hire consultants. Those have their purposes, but the best way to learn is never to just sit and listen passively. You need to be doing. And when you learn by doing, you have already started making those changes. That’s why you need to get your people as involved in the accelerator as possible. To work together with the startups.

And when I say working together and I really mean working together. Many organizations just have the accelerator’s startups in a corner of the office and encourage their employees to go look at them. But again, like taking a look at a lion won’t make you into one, just looking at startups won’t do much. In practice, that means you should have your employees act as the startups’ mentors & business champions. That’s the way to get them learning. For best results, choose an accelerator that helps with that. Like I said earlier, the worlds of startups and corporations are different, and often a bit of help for joining those two is very much welcome.

3. Help the startups, help yourself

When your employees work with the startups they see first hand how startups work. How completely redoing something takes days instead of months. How they turn their business completely around, pivot when they realize what they are doing isn’t working. And so on, and so forth. When your employees help the startups, they will start to see a different way of doing. They will also see what is wrong with their own organizations, and even more important: how things should be. And as they have startups relying on them to help, they make those changes happen. Instead of thinking about and following all the usual procedures, they just do it. Take the shortcut and break the infamous silos.

In other words: while helping the startups the employees are in fact helping their own organization. They are learning and fixing it inside out. And that is much more efficient than getting an outsider to force their models on you.

For those little changes to become a real transformation, you need enough people to do it. One fish can’t change the waters, but a flock will. You need to have enough of your employees working with the startups. And you have to have your whole organization involved.

4. Make learning (and the accelerator) your organization’s top priority

When the changes in your organization happen you should let everyone know about them. You should use your own success cases as inspiration for the rest of the organization. And in general, you should make sure your people are aware of what is going on. That you have startups on board and you are transforming your whole organization. Not only is it good internal PR, but it also makes it easier to make those changes happen. What you make a priority in your organization is much more likely to happen.

5. The right amount of startups

You need to have enough of your own people involved, but you also need to have just the right amount of startups. Too few, and it is difficult to involve enough of your employees for real change. Too many and you will have too many changes needed to be able to actually execute them.

In our experience about 10-15 startups hits just the spot. Just enough to have a real impact, but not too many to overwhelm you. It is also a good amount from the innovation perspective.

6. Learn to fail

The right way to fail might even be the most important thing you can learn from startups.

First of all, the word failing is wrong. Or at least how we understand it. To most failing means the end, losing. But it really is a beginning: you did something and you learned. And the next time you do something you will be much better at it. That’s why startups have FailDay, and have this whole ”culture of failing”. Some even celebrate each failure AND the learnings from them. And that is what big corporations need. Many even say it is impossible to innovate if you don’t know how to fail. And to be the top player in the future, your organization can’t just rely on innovations coming from outside (or even worse: doing the same thing you have been doing since the beginning of time). You yourself need to have the capabilities of acting fast.

So, learn to fail. If you don’t master the art of failing safely, that’s when you will really fail. And even more importantly: you need to learn to fail fast. In a way, startups are constantly on the lookout for failures, things that don’t work. They learn from them, and pivot, change directions and try again. And they do it super fast, over and over again. When you do it fast enough, it really isn’t failing. Just learning and adjusting accordingly. And as it is done quickly, just the minimal amount of money or effort has been wasted. The faster you fail the faster you learn and start doing the right things.


In short:

  1. If you want big changes, you can’t settle for little. The effort you put in and your results are directly related to each other.
  2. Your employees are the key to learning and corporate changes. The change starts from them.
  3. Get involved. Don’t just look, but work together with the startups. By helping them you are actually helping yourself.
  4. Make the accelerator, organizational learning and changes a priority. That helps make the changes happen and make them stick.
  5. Work with the right amount of startups. Enough to have an effect, but not too many to paralyze yourself.
  6. Learn to fail fast.

And there you have it: 6 ways to transform your organization with startups.  Remember: when the stiffest of them all, banks, have transformed, so can you.


Start renewing your business today

Let’s talk how Nestholma can help to renew your entire company and find new businesses with startups and beyond.

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You might also be interested in: Why are big corporations so bad at innovating?


Posted by & filed under Banking, Corporations, Fintech, Startups.

I have always believed the world will be a better place when we work together, collaborate, instead of pushing others down to gain what we want. Working at Nestholma I have come to realize collaboration isn’t good for just individuals, but also businesses. In some industries, it has even become the only way to survive in the heated competition. That’s the case for example in fintech where customers are becoming more and more spoiled with choice and the whole industry is changing at an incredible speed.

At Nestholma, we talk so much about collaborating that it should be in our slogan. (Oh, wait…) But it just can’t be helped. When you spend every day with startups, big corporations and banks, you are bound to see not only the good parts but also the parts that are lacking. And how well those complement each other. You can’t really help but become part of the cult called collaboration.

When you take a look at our portfolio you will see startups doing exactly that, providing something that helps banks become better banks for their customers. And they are damn good at it (excuse my language…)! But of course they are, they went through a bank accelerator. They found a fault in the banking world and developed their solution further together with a bank. So, it is not just what the customers want but also exactly what the bank needs. The startups have been able to create a solution that is well validated, and banks get an amazing innovation, just for their needs and way ahead of the rest of the industry.

Startups do in days what corporations can do in month, if not even in years

When you are used to the corporation timetables, many questions if it really is possible to do magic in such a short time as the accelerator program is (our programs itself lasts usually 3 months). Well, it is: startups are the best magicians in that respect:

They don’t call accelerators supercharged for no reason. Startups go through incredible transformations and banks get to hand pick from a pool of innovation made with their own requirements. And they get them way ahead of their competitors. At the same time, the banks can’t help but also learn the agile working style startups have. But the real winners are of course the customers – they are the ones whose lives are being made better and better.

So, what kind of startups are these ’bank-validated startups’ then? Glad you asked because I have 4 of them to introduce.


Jenny customer service AI artificial intelligence

What is the first thing that comes to mind when you think about customer service online? If you are a customer, it is probably the long wait. And if you are a bank: the massive amount of inquiries you get every single day. And that is exactly the problem. Banks get so many customer inquiries every day that handling them in a timely manner is pretty much impossible. Out of the mass of inquiries 80% are recurring. That means customer service people spend most of their day answering the same questions over and over again. That is all time away from solving urgent and more problematic cases. Or so it was.

Jenny has brought artificial intelligence (A.I.) into customer service. Jenny teaches their A.I. to think using existing knowledge bases: emails, chat logs and so on. The machine then figures out the common inquiries and the answers for them. It also learns how to answer without sounding like your common bot. In fact, the customer won’t have a clue she or he is not talking with a human, but a machine. The only thing they wonder is how on earth they got their response so fast. And that’s what you call amazing customer service! Jenny also helps its human work mates by providing some of the common answers to the customer’s problem and make solving the that much more efficient. Hello, good customer service!

  • Works on the languages the company works
  • Learns constantly and can thus solve more and more customer inquiries
  • Works on the same tech the customer already has – no money or resources wasted on changing systems
  • Techstars Tel Aviv superstars


Collectly loan collecting banking

We all know not everybody pays their debts in time. And that poses a tricky situation: how do you get your money without destroying the relationship with the debtor?

For banks and businesses, this can easily mean you get the money but lose all future business with the debtor. IF you even get anything. Now banks and other businesses send generic and un-engaging letters and make disturbing calls. No wonder the borrowers just ignore them or do the best they can to avoid them. The business is not getting their money and the customer relationship is pretty much lost, maybe forever. Just in the Nordic region alone, that means 16B of lost money. That is if you don’t use Collectly.

Collectly maximizes debt recovery while retaining the customer. To do that they use AI and machine learning. They profile the customer and then contact him or her via modern communication channels with messages that are both personalized and engaging. That is much more transparent, friendly and efficient way of collecting debts. In fact, Collectly has a success rate of 56 percent in collecting debts with their early customers! They recognize the debtors who might have problems in the future and deal with the ones who already do.

  • Collection rate up by 60%
  • 10 x more cost efficient
  • 6 x increased customer retention
  • Just finished Y-combinator, and has been featured in hot publications like Techcrunch.

All in all, you will get what belongs to you AND you get to keep the customer and can make more business with them. You are happy, the customer is happy, a clear win-win situation.


Nordigen banks banking loan application

Banks reject too many good loan applicants due to insufficient credit history. At the same time recognizing the bad loans is not always so easy. Nordigen makes the credit decisions easier, more accurate and much much faster than before (in 10 seconds to be exact).

Be it hobbies, shopping, groceries or even gambling, almost nothing in life is free. But the good part is all that leaves traces, transaction history. Using the data from the customer’s account and payment card Nordigen’s machine can identify the customers with riskier and safer behavior patterns – whom the bank should or shouldn’t lend money, even when the credit history is insufficient. Banks can increase their lending while diminishing the risk. At the same time, Nordigen helps segment the bank’s customers, even by their hobbies, whatever would help the bank in its operations.

  • Flexible solution, works with all strict local banking regulations
  • Easy to set onto existing infrastructure


Fjuul health app tracking

Sports tracking? Isn’t that for athletes and health nuts? Not anymore – Fjuul has brought digital health to everyday people and everyday life; be it a health nut or just your average Joe. Like with foods, exercise about the quality, not quantity. And Fjuul is just the tool to help you. Their app tracks your day and tells you which physical activities have the most impact on your health and fitness. You can then compare and see what kind of activities in your day-to-day life have the biggest impact on your health. And when ’good health’ isn’t enough of a motivator, Fjuul also helps with that. Your movement becomes a currency that you can trade for discounts and goods (= the number 1 reason why I take the longer route home nowadays ;).

But why I am talking about a health app on this post? Because it is nothing but relevant. Insurances aren’t really considered sexy, especially by millennials. There is a burning fight for customers, but making yourself the choice number 1 isn’t so easy. And even keeping the existing customers is hard: insurance companies don’t really have that many chances to interact and engage with their customers – build a real relationship, loyalty. At the same time problems like cardiovascular diseases are on the rise and considering our current lifestyles, fast food, and office work, it is only going to get worse. And that’s what keeps the guys responsible for the health claims up at night!

Those are just some of the things Fjuul can solve. Customer acquisition through their offers, relationship building, activity based insurance products, corporate wellbeing programs, just to name few. And yes, there is no doubt Fjuul is attractive in the eyes of the customers – it is a top featured fitness app in over 100 countries!

Forget competing – the future is in collaboration

Banks and fintech startups have gone a long way from fierce competitors to collaborators. And the same is happening to banks with other banks. Many changes are coming to the banking industry, but one thing is sure: the biggest beneficiary are the customers. Be it the number of options, PSD2 – the customers have the power and the banks and startups need to listen. Or better yet: create something better than the customers could ever imagine.

Personally, I am excited to see how the banking industry is going to evolve through collaboration, and even more excited to enjoy the growing ease of my everyday life as a customer. How about you? What are your thoughts on the new era of banking?


Related post: What I learned from talking with 40+ banks from all over the world


Posted by & filed under Entrepreneurship, Mentoring, Startups.

As an entrepreneur, you’ve probably been mingling in startup events. You have probably met knowledgeable people, with experience in areas where you and your team are quite lost. And you should take every chance to talk to them. Many of those events — or accelerators, or incubators — call such people ‘mentors’. They are likely to share with you their opinions on your ideas, as well as give you interesting tips.

But tips are… well, the tip of the iceberg (sorry for the terrible pun). Tweet this. They might be missing context information about your business. They might not know about your market. They might not understand your idea, maybe even because you don’t understand it. Or you might just not have the time to get into the juicy details.
We believe that mentoring shouldn’t stop there. Tweet about this!

You need to build a relationship

It’s much more valuable for both sides — the mentor and the startup — to have a longer discussion, where both sides have something at stake. This makes sure that the mentor understands well the startup. It gives the mentor a reason to look more into the specific market or business of the startup. It gives the startup the chance of knowing the rationale behind the mentor’s thinking, and when and how to apply it to their business.

Of course, our mentors also attend events to meet the startups, but that is often only the beginning of a relationship. At the end of the day, for entrepreneurs, it also pays off to go beyond one-night-stands with some people.


When we match startups and mentors, we try to make sure that both of them will benefit, one way or another. And that requires knowing their needs and motivations very well. They typically discuss a few times about the startup’s business, to see of they are a good match. At the end of the day, with a good advisor, you want to make sure that there is some “chemistry” between you. Tweet this.

At that point, both have gotten a bit better, but there’s still a long road to go.

You need to make it stick

If you really want a mentor to contribute to your startup, you need to be serious about it. If you’re asking the person to give you tips every now and then, it will stay like that: tips every now and then. That means that the entrepreneur is treating mentoring as a hobby. Even if the mentor is happy to do that for a while, on a midterm they’re likely to find another hobby.

If you want to be high on the mentor’s priority list, you need to make the mentor be an extension of your team: an advisor. Tweet this.

Our expectation when we match startups and mentors is that, if things work out, the mentor becomes an advisor of the startup. They explicitly discuss how much dedication the mentor will have: it can range from a meeting per month to having a secondary role in the company.

They also explicitly discuss a compensation, e.g. a percentage of shares of the company, provided the advisor stays with the company for a number of years. It’s important to find a level in which both parts feel that the compensation is fair and that the relationship could go on indefinitely. You want to make sure that if the company wins, everybody involved wins as well. Tweet this.

You need to know what you’re getting

Advisors can be very different to each other. There are several roles that they can take. Advisors can be:

  • Great coaches for the founder team, and making them think about the right things. Tweet this. They will make use of their experience to make sure you are considering the right factors, but they will not push you in any particular direction. They are likely to focus on your development — as an entrepreneur or as company — instead of the direction that you’re taking.
  • Great sounding boards: you can tell them what your plans and ideas are, and they will give you a reality check based on their experience and industry knowledge. Tweet this. Everybody believes their own ideas, sometimes you need somebody else to confirm or defy your thoughts.
  • Great door openers. One thing you need in a startup is contacts, and some people are particularly gifted at connecting you to the relevant people. Tweet this. It might be potential customers, it might be companies that can help you grow, or it might be people that you don’t know yet how they will help you.
  • Investors in the company. And some of them help you in funding rounds later on. In any case, some advisors are particularly useful for you to find resources for your startup.


Most of them end up being some combination of all of those. It’s important for entrepreneurs to understand the value that different advisors are bringing (and to look for the right ones). At the end of the day, your advisor is part of your extended team, and that’s one of the most important success factors in a startup.

In short, the best mentors are the ones that will become advisors of your startup if things go right. Tweet this.

Dr. Daniel Collado-Ruiz, @ErCollao

Do you like the content? Do you disagree? Are you interested in hearing more about other related stuff? Drop us a line in the comments or on twitter, and let’s chat!


You might be also interested in: One-night stands, dating and marriage – 3 phases of working with startups