3 cliché pieces of startup advice I never want to hear again
- Over 120,000 customers in more than 170 countries leverage the ActiveCampaign platform to grow their b… (show all) Jason is the Founder and CEO of ActiveCampaign, a leader in Customer Experience Automation (CXA).
- The better advice is to embrace the best elements of funding and bootstrapping in a way that works for you — it doesn’t have to be one or the other (despite the industry obsession with funding as a signifier of growth and validation — which it is not).
- You’ll hear a lot of startup advice that’s basically some version of “focus on one thing.” This may work out for some companies that offer a single consumer product, but if I had followed this advice, I never would’ve made the pivot from on-premise software to SaaS.
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Hospitality rebound gives fuel to recession recovery
- Company profits jumped 35.1 per cent in the accommodation and food services sector over the September quarter while inventories were also run down, reflecting higher consumption, leading some economists to upgrade their growth forecasts.
- The run down in inventories could also be a good sign for the December quarter as having low stock levels when sales are expected to rise usually means businesses will start rebuilding stocks.
- Business credit contracted by 0.3 per cent in October - the least severe hit in six months and a sign that business investment may start to turn a corner.
- CBA economists said that given expectations of a stronger than expected economic recovery they had now revised estimates of business credit growth, expecting an overall fall of 3 per ent this financial year compared to their previous estimate of 5 per cent.
Singles going steady in driving China's recovery
- This year, as China continues to shake off the impact of coronavirus, it also offered a glimpse into the role consumption plays in the wider economic recovery.
- Alibaba, the country’s leading e-commerce platform, extended the event to an 11-day marathon and said shoppers in the country placed $US75.8 billion ($103 billion) worth of orders, up 26 per cent from the same period last year.
- More broadly, growth in retail sales this year lagged behind industrial production – the standout driver of a world-leading recovery from coronavirus in China.
- Official figures released in mid-November showed retail sales rose 4.3 per cent in October, compared with a 6.9 per cent rise for industrial growth.
- In a recent report, Morgan Stanley forecast that private consumption would replace exports and infrastructure investment as the main catalyst for growth in China next year, with gross domestic product rising 9 per cent.
Stocks Say Covid Recovery Is Nigh. Bonds Tell a Different Story.
- After the Covid-19 vaccines proved effective this month, almost every corner of the market signaled that a faster recovery is on the way.
- Economically sensitive stocks, industrial metals, crude oil, the flakiest junk bonds: all have rallied hard.
- But not Treasurys.
- The vast U.S. government bond market is usually highly sensitized to growth prospects, and especially to what’s known as the “reflation trade”: The bet that the economy will rebound quickly.
- Faster growth almost always means higher inflation, higher yields and so...
Dreaming of a V-shaped Christmas
- Borders are opening, jobs are back and markets are booming - helped along by an economy awash with cash as governments spend up to boost the recovery.
- The borders and beaches are opening, the jobs are flooding back – 650,000 in the last five months – consumer confidence has notched up a record run of 11 straight weeks of gains, retail sales have surged, iron ore exports are breaking records, and there are prospects of a vaccine by March.
- Online retailer Kogan.com, whose valuation has climbed past the $2 billion mark as its sales growth rate doubled, is still gearing up for another year of record sales and earnings in the expectation that consumers who shopped online for the first time during the pandemic will become e-commerce converts.
- The benefits of this might be considered isolated to the the Pilbara, but the tax revenues end up as government stimulus and that all goes to supporting Australia's half-a-trillion dollar Christmas.
The EU’s fastest growing EV market is — surprise! — Latvia!
- According to Latvian national news agency, LETA, the Baltic nation has logged the fastest growing rise in electric car sales among EU member states.
- Across the first three quarters of this year, Latvians have bought and registered 328% more electric vehicles than they did across the same period in 2019.
- LETA reports that this is the fastest growth in EV sales in the EU.
- Over the first three quarters, 287 electric vehicles were registered in the country.
- While the overall volumes might not compare to bigger car buying nations like the UK or Germany, the growth in EV uptake should still be considered as a positive.
- It seems that Baltic nations are quite receptive of new low-emission transport tech.
- SHIFT is brought to you by Polestar.
The RBA’s monetary and fiscal fusion
- Reserve Bank of Australia governor Philip Lowe's bold campaign to jawbone the feds into loosening the fiscal purse strings has been an overwhelming success, helping to guide Australia through the pandemic.
- Reserve Bank of Australia governor Philip Lowe’s greatest legacy will be the fusion he has forged between fiscal and monetary policy since the emergence of the global pandemic in March.
- In an update this week, S&P stealthily jettisoned these pessimistic projections, revealing that it now believes “economic growth and low interest rates will continue to drive property price appreciation in the next two years”.
- Another bear-turned-bull, CBA, published a report on Friday asserting that “rising home prices will not create financial stability risks in 2021” because housing credit growth remains modest, lending standards are conservative, and regulators have proven they can pre-emptively suck the heat out of the market through counter-cyclical macro-prudential tools.
Salesforce buying Slack would intensify Microsoft rivalrly: Analysts - Business Insider
- If it goes through, the deal would be Salesforce's largest ever, capping off a years-long acquisition spree that's included companies like MuleSoft and Tableau.
- Analysts recently told Business Insider that the growth of Microsoft Dynamics 365 threatens the "iron grip" that Salesforce holds on the customer relationship management (CRM) space, while Slack has shown signs that the rise of Microsoft Teams has put a strain on its growth prospects.
- As Microsoft becomes a stronger competitor to Salesforce, one of its strengths is that its various tools —like its sales and service software Dynamics 365, its simple app development suite Power Platform, and productivity applications like Word and Excel — are all integrated.
- Salesforce, for its part, has made some moves to take on the collaboration and productivity space over the years, including the business social network Chatter and the acquisition of web-based word processor Quip.
IBM Planning 10,000 Job Cuts in Europe Ahead of Unit Sale
- is planning to cut about 10,000 jobs in Europe in an attempt to lower costs at its slow-growth services unit and prepare the business for a spinoff.
- IBM announced the job cuts in Europe earlier in November during a meeting with European labor representatives, according to a union officer briefed on proceedings.
- IBM said in October it’s planning to spin off the business and focus on its new hybrid-cloud computing and artificial intelligence unit, which the company hopes will return it to revenue growth.
- IBM was already cutting jobs earlier this year, although the company wouldn’t say how many positions were being eliminated.
- The spin-off of its services unit is the first big move by Chief Executive Officer Arvind Krishna, who took over from Ginni Rometty in April and has been pushing to revive growth after almost a decade of shrinking revenue.