In the rapidly evolving landscape of technology, IT startups are often at the forefront of innovation. However, while technical expertise is a strong suit, these startups frequently face challenges in business development, an essential ingredient for sustainable growth. This article delves into how external business development skills can be pivotal in propelling IT startups towards success. I was recently involved with some really awesome startups, so will try to introduce a few of them in the coming days.

Understanding Business Development in IT Startups

Business development in IT startups encompasses a range of activities — from identifying new markets and partnerships to brand building and strategic planning. For startups with a strong technical background, mastering these aspects can be challenging. That’s where external business development skills come into play. By leveraging external expertise, startups can complement their technical know-how with robust business strategies.

Key Areas of Focus

1. Market Analysis and Strategy Formulation: External experts can assist in analyzing market trends, identifying target demographics, and crafting strategies that align with the startup’s technology strengths. This can include expansion plans, both geographically and in terms of product offerings.
2. Partnership and Network Building: Establishing valuable partnerships is crucial for growth. Business development professionals can help in networking and negotiating strategic alliances that open up new avenues for sales, innovation, and brand exposure.
3. Sales and Marketing Expertise: Effective sales strategies and marketing campaigns are essential for any business. External experts can provide insights into the latest marketing trends, digital marketing techniques, and sales funnel optimization specific to the IT industry.
4. Financial Planning and Investment Attraction: Startups often struggle with financial planning and attracting investors. External business development skills can be instrumental in preparing solid business plans, understanding market valuation, and pitching to potential investors.
5. Brand Development and Public Relations: A strong brand is vital in the crowded IT space. Professionals in business development can guide startups in creating a compelling brand narrative and managing public relations effectively.

The Benefits of External Expertise

• Fresh Perspectives: External professionals can offer new viewpoints, untainted by the company’s internal culture, which can be crucial for innovative strategy development.
• Specialized Skills: They bring specialized skills and experience that may not be present internally, especially in areas like marketing, sales, and finance.
• Cost-Effectiveness: Hiring external experts can be more cost-effective than employing full-time specialists, particularly for startups operating on tight budgets.
• Flexibility: Startups gain the flexibility to engage these skills as needed, allowing for scalability and adaptability in a fast-changing market.

Implementing External Business Development Skills

To effectively integrate external business development skills, startups should:

1. Identify Specific Needs: Clearly define what areas require external expertise.
2. Choose the Right Partners: Select professionals or agencies with a proven track record in assisting IT startups.
3. Ensure Alignment with Vision and Culture: Ensure that the external team aligns with the startup’s vision, culture, and long-term goals.
4. Set Clear Goals and Metrics: Establish clear objectives and key performance indicators to measure the impact of the external expertise.
5. Foster Collaboration: Encourage a collaborative environment where internal and external teams can work synergistically.

Conclusion

For IT startups, external business development skills are not just a luxury but a necessity in today’s competitive environment. These skills bridge the gap between technological innovation and market success, enabling startups to grow, scale, and make a lasting impact in the tech world. With the right approach and partnerships, startups can harness these skills to chart a path towards sustainable and dynamic growth.

I am thrilled to announce that I have been selected as an ambassador for the FINOS (Fintech Open Source Foundation). This unique opportunity allows me to contribute more significantly to the burgeoning world of open source finance.

As a FINOS Ambassador, I will be deeply involved in organizing events, contributing thought-provoking articles, sourcing speakers for influential podcasts, actively participating in community events, and developing insightful case studies on various FINOS projects. This role enables me to advocate for the adoption and contribution to open source initiatives within the financial sector, a cause I am passionately committed to.

The ambassadorship also allows me to connect and collaborate with other professionals in this field, furthering my knowledge and expanding my network. The program’s goal to foster a vibrant, inclusive community aligns perfectly with my vision of a collaborative and innovative future in financial technology.

I am excited to embark on this journey with FINOS and contribute to shaping the future of open source finance technology. Stay tuned for more updates on my experiences and contributions in this new role! And as you can see, the number of different roles and co-chairships and similar does not seem to stop – Thanks for Keith O’Donnell for depicting me as someone with one more new role 😀

The adage “We learn 95% of what we teach others” reflects a profound understanding of human learning and knowledge retention. While the specific percentage might be an approximation rather than a scientific fact, the underlying principle holds significant truth. This article delves into the mechanics of this phenomenon, exploring how the act of teaching reinforces our own learning.

The Learning Pyramid
The concept often gets linked to the “Learning Pyramid,” sometimes attributed to the National Training Laboratories in Bethel, Maine. The pyramid suggests various retention rates for different teaching methods. Although the specific percentages are debated among educators for their accuracy, the hierarchy itself underscores a valuable point: active learning methods, like teaching others, are often more effective than passive ones.

The Process of Teaching as Learning
When we teach, we are not merely reciting information. The process involves several steps that enhance learning:

1. Preparation: In preparing to teach, we organize our thoughts, structure the information logically, and anticipate questions. This preparation deepens our understanding and retention.
2. Articulation: Explaining concepts in our own words requires a clear grasp of the subject. This translation process solidifies our knowledge.
3. Feedback and Adaptation: Teaching involves interacting with learners, getting feedback, and adjusting explanations. This responsive process further cements the knowledge in our minds.

Psychological Aspects
Teaching others also engages various psychological factors:

• Confidence Building: Teaching reinforces our self-confidence and belief in our understanding of the subject.
• Social Reinforcement: Positive social interactions during teaching, such as acknowledgment and appreciation from learners, enhance motivation and retention.
• Cognitive Dissonance: When faced with questions or different perspectives from learners, we are challenged to rethink and possibly strengthen our understanding.

Empirical Evidence
Several studies support the notion that teaching others is an effective learning strategy. For instance, research indicates that peer teaching can enhance learning outcomes for both the tutor and the tutee. Moreover, the act of teaching has been shown to activate unique neural pathways, further contributing to knowledge retention.

Application in Education and Training
Recognizing the value of teaching as a learning tool, many educational systems and corporate training programs now incorporate peer-teaching and train-the-trainer models. These approaches not only improve comprehension and retention among students but also build a culture of collaborative learning.

Conclusion
While the “95%” figure might be more symbolic than scientific, it points to a vital truth about learning: teaching others is one of the most effective ways to deepen and retain our own knowledge. This understanding has significant implications for how we approach education and training, emphasizing active participation and the sharing of knowledge as key drivers of learning.

In a world that often equates being right with success, it’s surprising to discover a rare trait among high performers: they actually enjoy being wrong. This counterintuitive quality is not about celebrating failure but about embracing the opportunities that come from recognizing one’s mistakes. This article delves into how this mindset not only distinguishes high achievers but also fosters a culture of growth and innovation.

The Paradox of Being Wrong

Traditionally, success has been linked to certainty, confidence, and always having the right answers. However, high performers break this mold. They understand that being wrong is an integral part of the learning process. This paradox lies at the heart of their growth mindset. By embracing their mistakes, they open themselves up to new perspectives and continuous learning.

The Power of Different Viewpoints

One key aspect of enjoying being wrong is the willingness to consider different viewpoints. High performers are not threatened by opinions that contradict their own. Instead, they see them as an opportunity to understand a broader range of perspectives. This approach leads to more well-rounded decision-making and fosters a more inclusive environment where all voices are valued.

Owning Mistakes: A Catalyst for Growth

Admitting and owning mistakes is not a sign of weakness but of strength. High performers are quick to acknowledge their errors, not to self-flagellate, but to learn and improve. This attitude transforms setbacks into stepping stones. By owning their mistakes, they set an example that encourages others to take risks and innovate without fear of failure.

Cultivating a Growth Mindset

The crux of enjoying being wrong lies in cultivating a growth mindset. Carol Dweck, a renowned psychologist, defines a growth mindset as the belief that one’s abilities and intelligence can be developed over time. High performers embody this mindset. They view challenges as opportunities to grow, rather than insurmountable obstacles. This mindset keeps them resilient and adaptable in the face of change.

The Ripple Effect in Organizations

When leaders and high performers in organizations embrace being wrong, it creates a ripple effect. It fosters a culture where learning from mistakes is valued over pretending to be infallible. This culture encourages innovation, as team members feel safe to experiment and propose unconventional ideas.

Conclusion

The rare trait of enjoying being wrong is a hallmark of high performers. It signifies a deeper understanding that being right all the time is not only unrealistic but also a barrier to growth and innovation. By embracing different viewpoints, owning their mistakes, and cultivating a growth mindset, these individuals not only achieve personal success but also contribute to creating a more dynamic, inclusive, and forward-thinking environment. This mindset, perhaps paradoxical at first glance, is indeed a powerful catalyst for continuous improvement and enduring success.

In a world where the pace of change is constantly accelerating, it’s easy to equate speed with progress. We often admire those who act quickly, deliver rapid results, and push for immediate change. However, the true essence of progress lies not in how quickly we move, but in the direction we choose to go.

Understanding Progress Beyond Velocity

Traditionally, progress is measured by how fast one can achieve goals. This perception is reinforced in our fast-paced society, where speed and efficiency are highly prized. However, this outlook can be misleading. Progress should be seen as a journey towards a worthwhile goal, not just a race to the finish line. It’s about moving forward in the right direction, even if that means taking slow and deliberate steps.

The Direction Matters

The direction of our efforts dictates the quality and sustainability of our progress. For instance, a company may rapidly increase its profits, but if this is done at the expense of ethical standards or environmental health, can it truly be considered progress? A student might quickly finish an assignment, but without thorough understanding, the learning is superficial. Real progress happens when we align our actions with our values, goals, and the greater good.

The Tortoise and the Hare: A Modern Interpretation

The classic fable of the tortoise and the hare teaches us that slow and steady wins the race. In our modern context, this translates to a deeper understanding that perseverance and consistency, combined with the right direction, lead to meaningful accomplishments. The hare’s swift pace is impressive, but it’s the tortoise’s unwavering commitment to the end goal that ultimately brings success.

Long-Term Vision

Progress with a sense of direction often requires a long-term vision. It’s about looking beyond immediate gains and considering the broader impact of our actions. This could mean investing time in learning new skills without immediate rewards or a company prioritizing sustainable practices over short-term profits. The focus is on where these actions will lead us in the future, rather than the immediate results they yield.

The Role of Reflection and Adjustment

Staying true to the right direction for progress also involves continuous reflection and adjustment. It’s important to regularly evaluate if the path we’re on aligns with our ultimate objectives. This might mean changing course, even if it requires slowing down or retracing our steps. Adaptability, in this sense, is a crucial component of making real progress.

Conclusion

In conclusion, the essence of progress is more about moving in the right direction than moving quickly. It requires a deep understanding of our goals, the patience to pursue them consistently, and the wisdom to make necessary adjustments. As we navigate through life’s challenges, it’s important to remember that the value of our journey lies not in the speed with which we travel, but in the paths we choose to follow.

Over 200 people came in person and virtually, and participated on the 7th annual Financial Services Autism Hackathon, held in the Microsoft Garage. Contributors from many financial companies (Morgan Stanley, UBS, Willis Towers Watson, JPMorgan Chase, Mastercard, Wellington Management, Deutsche Bank, State Street Bank) and technology companies (Microsoft, Accenture, Avanade) joined therapists, university professors, enthusiastic individuals, and more, to create amazing solutions, selected by a panel of experts for this year, to be tackled. We were blessed with a set of amazing panelists for the judging ceremony too – individuals from Morgan Stanley, Microsoft, Mastercard, Accenture and Avanade provided feedback on the solutions – which got infused with AI fully this year; every solution ended up using a version of AI, Copilot, etc somehow. Whether it was In-Session Copilot, Program Development Copilot, On-Boarding Copilot, Friendly Neighborhoods Copilot, Metaverse for Job Support, or Metaverse for Social Practice, we pulled all breaks and did something groundbreaking in just mere 48 hours – most of the participants never dealt with C#, AI, Azure, HoloLens, etc ever. But what is this whole thing about, actually?

Autism spectrum disorder (ASD) presents unique challenges and opportunities, both for those who live with it and for their families. Unlike many conditions, there’s no instruction booklet for autism; it’s a journey of discovery, persistence, and, often, incredible creativity. This spirit of unwavering commitment and innovation was vividly showcased at this week’s Financial Services Autism Hackathon.

Understanding Autism

Autism is a developmental disorder that affects communication, behavior, and social interaction in various ways. While it’s characterized by certain common features, such as difficulties in social interaction and restricted, repetitive patterns of behavior, autism manifests uniquely in each individual. This variance makes the role of parents and caregivers particularly challenging, as they often need to become experts, advocates, and inventors all rolled into one.

The Role of Parents: A Never-Giving-Up Attitude

Behind every child with autism is a parent or caregiver who embodies resilience and perseverance. These parents don’t have a standard manual to guide them; instead, they learn to adapt to the specific needs of their child, often becoming adept at creating custom solutions to help their children thrive. Their journey is one of constant learning, advocacy, and unconditional love. They are the unsung heroes in the lives of children with autism, tirelessly working to ensure their children have every opportunity to succeed.

Financial Services Autism Hackathon: A Testament to Innovation

This week’s Financial Services Autism Hackathon is a prime example of how challenges can fuel innovation. This event brought together tech experts, financial professionals, and autism advocates to develop practical solutions that cater to the needs of individuals with autism, particularly in the realm of financial services.

One of the major challenges for people on the autism spectrum is navigating financial systems, which can be overwhelming due to their complexity and sensory demands. The hackathon focused on creating tools and services that make financial management more accessible and less stressful for those with autism.

Success Stories and Breakthroughs

The hackathon witnessed the development of various groundbreaking tools. These included apps designed to simplify financial planning, platforms offering sensory-friendly banking experiences, and educational resources tailored to help individuals with autism understand and manage their finances effectively. These innovations not only represent technological advancement but also a deeper understanding and inclusivity towards the autism community.

Conclusion: A Hopeful Future

The success of the Financial Services Autism Hackathon is a beacon of hope and a testament to what can be achieved when we channel our challenges into creative solutions. It underlines the importance of inclusivity in all sectors, particularly in areas as crucial as financial services. Moreover, it celebrates the relentless spirit of parents and caregivers of children with autism, who are the true catalysts for change and inclusion.

As we move forward, the learnings and innovations from this hackathon will undoubtedly pave the way for more accessible and autism-friendly financial environments. This event is not just a milestone for the autism community but a guiding light for how empathy, understanding, and technology can come together to create a more inclusive world.

As Microsoft commemorates its 49th birthday, I reflect on its journey from a small startup to a global technology powerhouse. Founded on April 4, 1975, by Bill Gates and Paul Allen, Microsoft has been a key player in the evolution of personal computing and digital technology.

The Humble Beginnings

In the 1970s, Microsoft began with a vision to put a computer on every desk and in every home. The company’s first product was a version of the BASIC programming language for the Altair 8800 microcomputer. This step marked the beginning of an era of software development that would transform the way people interact with technology.

The Rise of Personal Computing

The 1980s were a defining decade for Microsoft with the launch of its groundbreaking product, MS-DOS, followed by the first version of the Windows operating system in 1985. Windows revolutionized the software market with its user-friendly interface, setting the stage for widespread adoption of personal computing.

Expanding the Horizon

In the 1990s, Microsoft solidified its position in the industry with Windows 95, which became immensely popular. The company also ventured into the world of internet browsing with Internet Explorer and expanded its portfolio with Office Suite, becoming indispensable to businesses worldwide.

The Era of Diversification and Cloud Computing

The 21st century saw Microsoft diversifying into gaming with the Xbox console, enhancing the digital entertainment experience. Under the leadership of CEO Satya Nadella, starting in 2014, the company made a significant shift towards cloud computing and AI, introducing Azure, a cloud computing service, and further refining its AI capabilities.

Challenges and Controversies

Microsoft’s journey hasn’t been without challenges. The company faced antitrust lawsuits and criticism over business practices. However, it has continually adapted, focusing on innovation, open-source development, and ethical technology use.

Philanthropy and Social Responsibility

Bill Gates, post-leadership, has focused on philanthropy, and the company has been involved in various global initiatives focused on education, healthcare, and the environment. Microsoft’s commitment to sustainability, with its pledge to be carbon negative by 2030, reflects its recognition of corporate social responsibility.

The Future and Beyond

As Microsoft enters its 49th year, it stands at the forefront of technological advancement with a focus on cloud computing, AI, and quantum computing. The company continues to push the boundaries, promising a future where technology enhances every aspect of life.

Conclusion: A Legacy of Innovation

Microsoft’s 49th anniversary is more than a milestone; it’s a testament to its enduring vision and ability to adapt in an ever-changing technological landscape. Microsoft has not only witnessed but also actively shaped the digital revolution, and its journey from a small startup to a tech giant is a remarkable story of innovation, resilience, and transformation. Happy Birthday, Microsoft! Here’s to many more years of innovation and success.

Second day of the FSI Autism Hackathon is underway, this time in the Microsoft Garage! Today will be filled with coding, deck building, demo recording, and more. We’re thrilled to welcome a set of esteemed guest judges who will be determining the best hack – Jennifer Seidel from Mastercard, Alisha Lehr from Morgan Stanley, Corey Sanders from Microsoft, Luke Thomas from Microsoft, Michael Lavelle from Accenture and Alyssia Walowski from Avanade.

May the best team win!

#FSIAutismHackathon #MicrosoftGarage #Hackathon #Coding #AutismAwareness

In the age of social media, the concept of a ‘like’ has evolved into a digital currency of sorts, a simple yet powerful tool that signifies approval, agreement, or enjoyment. At its core, the value of a ‘like’ is inherently tied to human psychology and the social dynamics of the internet. This article delves into the multifaceted nature of likes and why, in our digital interactions, there seems to be an incessant chase for quantity over quality.

The Psychological Impact of Likes

A ‘like’ on social media is more than just a click; it’s a form of social validation. Psychologists have linked the pursuit of likes to the brain’s reward circuitry, akin to the gratification one feels from other forms of social approval. The receipt of a like can trigger the release of dopamine, a neurotransmitter associated with feelings of pleasure and satisfaction. This instant gratification, however, can also lead to a dependence on digital validation, steering users towards a quantifiable measure of their social worth.

The Economics of Attention

In the digital realm, attention is a scarce commodity. Social media platforms are designed to compete for this attention, utilizing algorithms that prioritize content with higher engagement. As a result, users are incentivized to garner as many likes as possible to increase their visibility. This system naturally skews towards quantity, as a higher number of likes can equate to broader reach and influence.

The Illusion of Popularity

The chase for likes is often driven by the desire for social standing and visibility. Likes are seen as an easy metric to gauge popularity or success, creating an illusion that quantity is an accurate reflection of quality. This perception can lead to a distorted view of one’s social presence, where the focus shifts from genuine interactions to numerical milestones.

The Quality Conundrum

While likes provide an easy way to express acknowledgment, they lack depth. This simplicity, though appealing, does not foster meaningful interactions or discussions. The preference for quantity over quality can result in a superficial engagement, where the nuances of communication are lost. In contrast, fewer but more meaningful interactions can lead to stronger connections and a more authentic online presence.

Redefining Digital Success

The challenge lies in redefining what success looks like in the digital world. Instead of focusing solely on the number of likes, users can strive for meaningful engagement, prioritizing quality interactions over quantity. This shift in perspective involves understanding the transient nature of likes and recognizing the value of genuine connections and conversations.

Conclusion

In conclusion, while likes serve as a convenient barometer of approval in the digital age, their value should not be overemphasized at the expense of genuine interactions. The pursuit of likes, driven by a complex interplay of psychological needs and the economics of attention, often favors quantity over quality. However, a balanced approach that values meaningful engagement can lead to a more fulfilling and authentic digital experience. As the digital landscape continues to evolve, it becomes increasingly important to navigate these interactions with a discerning eye, understanding the true value behind a simple ‘like’.

Today marks the exciting kickoff of the FSI Hackathon for Autism 2024, a pivotal event that brings together bright minds to innovate for autism services. Held as a hybrid event, this hackathon is unique in its commitment to harnessing Microsoft technologies for creating impactful solutions. Participants, including developers, therapists, and families (nearly 200 people!), will collaborate on open-source projects to address real-world challenges faced by those with autism. The event promises an engaging blend of technology, creativity, and community spirit, aiming to make a tangible difference in the lives of individuals affected by autism. For more in-depth details, visit the FSI Hackathon for Autism website.