5 Things the FinTech Startups Learned Last Week

5 Things the FinTech Startups Learned Last Week

08-Oct-2014 by PatrickTaube

The Startupbootcamp FinTech teams are two-thirds down the accelerator programme – here are 5 things they learned last week.

  1. PR is like marketing, except it’s free.– Ben Novick

Always remember you know more than the journalist, and be prepared for the worst possible questions in an interview. When going in, know what you want to achieve. What headline do you want to see? What do you want the media to say about you? Accepting interviews for the sake of doing interviews isn’t the way to go: if you feel the interview holds no plus-value, you have the right to decline it.

  1. How to handle the media

If you believe what you do is as interesting to the journalist as it is to you, and that he or she understands it as well as you do, you are wrong. Plain and simple. Have a compelling story to tell, and the press will want to hear more about you.

  1. “Is what I’m saying interesting to potential readers or viewers?”

To answer that question, put yourself in the shoes of the single most cynical person you’ve ever met. Would you capture their attention with your story? Think – how would you make a teenager tear his eyes away from the smartphone he’s holding to listen to what you have to say?
You should also ask yourself if you’d be willing to pay £2 to read your story in the paper. If you wouldn’t, chances are very high no one will.

  1. Get endorsed by trusted third parties

Bringing in a trusted third party is the perfect way to get validation. Be it customers, industry experts or friends in the know, the message will always be stronger if it is conveyed by someone who’s not you. The age-old conundrum appears here: would you rather go have a drink in the pub that’s empty save two lone souls, or walk to the one down the road that has people queuing to get a drink? Having people vouch for your business is one of the strongest forms of validation you can get.

  1. Pitching is hard.

Going through your pitch a dozen times in front of the mirror in the comfort of your home? Easy. Having the clock tick time away, the heat of the limelight beat down on you and the steely gaze of top-tier investors scrutinise and judge your every word? That’s another story.
Pitching is
hard. Practice makes perfect. You do the math.

Have a look at what we were up to last week here in London! Our Vimeo channel can be found here.