Growth & Funding in WiThink
- Select a blog category
And here I am at the fifth year of the Deloitte and Enders Analysis co-hosted Media & Telecoms 2016 & Beyond Conference. This grand, chandeliered hall is bursting with 400 of the most senior executives in the UK media and telecommunications industries including WPP, BT, Google, Sky, BBC and many many more.
Every attendee will have taken something different from the conference, but I would like to share my five main observations:
2014 was a watershed year for FinTech in Europe, with FinTech investments going up by 215% from the previous year. More than two thirds of these investments were made in the UK and Ireland, where investments reached £417m, and the FinTech sector currently generates around £20bn in revenue for the UK economy.
Technology and society are changing faster than big companies can adapt. We are seeing new disruptive technologies emerge in the market that are completely changing the way we do business, the way we live our lives! And our clients are recognising that. It is therefore important we, as a company, differentiate ourselves and help our clients stay relevant. To do this, Deloitte is training its staff to think innovatively and offer them exposure to innovation first hand.
I enter a room filled with 20 notable business leaders, innovators and entrepreneurs. They’ve all been commended for their success, most of them with an annual growth rate in excess of 1,000%. Their LinkedIn profiles cumulatively reach 20,000 people, and their average number of contacts is 1,300 – 40% higher than the average CEO. Some of them work in software development, others in fuel cell technology. The range of perspectives, expertise and knowledge is wide, but they’ve all branched out as entrepreneurs. Everybody knows doing that is risky, and going up against the establishment does take some guts. J.M. Keynes is credited with saying “worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” Indeed.
That’s exactly the opposite of what these people have done. However, they all vary in expertise. This makes me think: what are the common factors in their success?