3 Key Lessons Fintech Entrepreneurs Can Learn From A Legend


3-Key-Lessons-Fintech-Entrepreneurs-Can-Learn-From-A-Legend.jpg

Bill Sarris CEO and Co-Founder of Linqto

Linqto

What does it take to be successful in fintech? One person who surely knows the answer is Bill Sarris.

Bill Sarris has been an expert in fintech and investment technology for many years. Some of its application deliveries in major enterprise software include large customers such as Microsoft, Intuit, Stanford, and others. His fintech projects include Quickbooks, the Promotion Suite from Digital Insight and Business Banking.

He has won the Forrester Groundswell Award and the Monarch Innovation Award for Banking.

He's watched the investment world change over time and noticed early on that people are starting to invest on a day-to-day basis. As more of these Main Street investors came to Wall Street, he decided that a more democratic system was needed.

In response, Sarris co-founded and invented Linqto, a private investment app that helps users identify worthwhile purchases and invest in “unicorn” startups. Here are his top three tips for fintech entrepreneurs.

Never stop innovating

Sarris' stated goal with Linqto is to make investments easier, especially for private companies that are about to go public. Before it came, only the very rich and hyper-connected could invest in these areas. Sarris co-founded and developed Linqto in response to this exclusivity.

Innovation is demand-driven. The key to staying competitive as an entrepreneur is understanding society's changing needs. Investing looked very different 10 years ago, but as technology developed and people became more interested in money on a daily basis, new needs arose. These needs drive creativity, ideas and innovation, and entrepreneurs have to keep asking themselves, "How can I find a solution to this problem?"

Consider accessibility

The idea that drove Sarris to develop Linqto is simple: he wants to "make it easy for average investors to participate in the private equity market".

The goal is to put the average investor on a par with the Wall Street gurus who have been in business for a long time and to create a fair, equitable investment platform.

This is a key aspect of entrepreneurship in 2021: accessibility. The success of your company can be measured by how many people are served with the product. Entrepreneurs should consider affordability when innovating to further extend the reach of their business.

Accessibility and affordability are the basic principles that support Linqto’s goal of democratizing secondary markets.

Challenge old-fashioned ideals

Sarris observed the intense gatekeeping while investing. Only accredited investors can participate in private registrations. 50 million reach the threshold for accreditation, but less than 1 million is invested.

The people who invest are typically among the wealthiest with direct links to the private investment space. This prevents many traditional investors from participating even though they qualify.

Sarris describes the process as "antiquated systems, standards and processes" that make it difficult even for accredited investors. But technology disruption has changed the market, and Linqto is helping put the power to invest back in the hands of the people.

In 2021, Linqto has enabled 40 investments in 10 companies so far, with four exits announced. Coinbase was one of them, with some members buying shares for $ 32.

The most important part of the result? "These are average investors who were able to participate in the upward trend of an exit for the first time."

Innovation and entrepreneurship are about questioning longstanding truths and finding better solutions. Entrepreneurship can foster a more democratic society and create opportunities for a wider range of people. That is certainly the case with Linqto. Sarris believes the future of investing lies in simplified private market transactions, and he is helping to make this a reality.

What does the future of your industry look like?

https://dailytechnonewsllc.com/3-key-lessons-fintech-entrepreneurs-can-learn-from-a-legend/

Comments

Post a Comment

Popular posts from this blog

Singapore aims to curb 'greenwashing' via stress tests, technology: MAS, Banking News & Top Stories

SINGAPORE (BLOOMBERG) - Singapore's financial regulator is turning to regulation and technology to combat so-called "greenwashing," which it believes is the weakest link in expanding sustainable finance. Banks in Singapore will have to undergo stress tests from next year while also making regulatory disclosures to ensure they are managing risks related to climate change and other environmental issues, Ravi Menon, executive director of the Monetary Authority of Singapore, said in an interview. Data validation with technologies that can prove the origin of environmentally friendly products is also needed, he added. Greenwashing is the making of false or misleading claims about the environmental benefits of a product, service, or technology. Mr Menon said the potential for greenwashing is increasing as more funds are allocated to sustainability projects. Stocks and funds that ranked highly on environmental, social, and governance metrics have attracted trillions of dol...
Read more

The Pros and Cons of Lawsuit Loans

The litigation loan industry lends plaintiffs more than $ 100 million each year in the US, but at what cost to the injured and their loved ones? This type of financing is also known as litigation advance, litigation financing, settlement financing, and pre-financing. Regardless of what you call it, the ability to get an advance payment on a pending settlement has helped thousands of people get their costs back during the litigation. That doesn't mean it is risk-free. Litigation loans are typically funded by hedge funds, private investors, or banks willing to lend plaintiffs money with the promise of a high return on their investment. Litigation lending critics have pointed out that the legal standards of other types of lenders inevitably do not apply to this type of lending because it is largely unregulated in most states. The plaintiff lending business emerged over the past decade. This was part of a trend where banks, hedge funds, and private investors put money into other...
Read more

Show Me a Good Loser, and I'll Show You a Good Trader

Hall of Fame soccer coach Vince Lombardi once said, "Show me a good loser and I'll show you a loser." It's an understandable feeling in sport where the effort never to fail, never to lose and never to stop is the key to success. There is no benefit in giving up and admitting that you will lose in a sport like soccer. In other endeavors, it is extremely important to admit that you are in a bad position and you are unlikely to get your way. For example, professional poker players fold a significant number of their hands. It is a smart strategy to take a small loss straight away instead of pressing further when the cards are not in your favor. You may end up with some luck if you stay in, but it's not the wise bet. Better to protect valuable capital and wait for a better opportunity. Poker players who fold are not ashamed to fold. It is an essential strategy if you are going to win. It's only part of the process of professional gambling and it helps imp...
Read more