FIVE MINUTES WITH ...
Q . CAN YOU SHARE WITH US SOME TIPS ON HOW TO LAUNCH A SUCCESSFUL TECH COMPANY , AND WHAT ARE SOME COMMON MISTAKES THAT ENTREPRENEURS SHOULD AVOID ?
» On success , a couple of thoughts : first , look for what other people are doing successfully and repeat it with enough differentiation to not compete head-on – for example , a different location , price , or sales channel .
Second , look for systemic changes , such as changes in regulations , technology or demographics , especially in big , fragmented , sleepy markets that will be slow to compete or will
Hoptroff provides plug-and-play software solutions that deliver precision timing and time synchronisation for businesses worldwide .
The company ’ s advanced technologies ensure business leaders meet compliance obligations , improve operational efficiency , and minimise costs while reducing risk and ensuring business continuity .
The network-delivered solution supports multiple industries globally , including financial services , media & broadcasting , gaming , internet of things , ecommerce , and distributed ledger technology . Hoptroff ’ s software is highlyresilient , secure , verified , auditable , cost-effective , and easy-to-install , use , scale and maintain . It provides the highest level of compliance , security , and accuracy , ensuring seamless business operations and effective risk management for the future . need you to remain competitive . For example , the introduction of Markets in Financial Instruments Directive ( MiFID II ) and Consolidation Audit Trail ( CAT ) regulations in finance were the springboard for our current business .
On mistakes , real successes come from operating as a team . Stick to what you ’ re personally good at and partner with people who are good at what you ’ re bad at . The whole is greater than the sum of its parts . And the “ fail fast and fail often ” philosophy is right ; most ventures fail , so flush them out quickly and move on , or pivot the team and relationships you ’ ve built . When you innovate , there ’ s very little correlation between the effort put in and the value generated . So , if it ’ s a slog , it ’ s probably time to recalibrate .
Q . WHAT DO YOU CONSIDER TO BE THE MOST SIGNIFICANT CHALLENGES FACING TECH ENTREPRENEURS TODAY , AND HOW CAN THEY BE OVERCOME ?
» For most of us , it ’ s having the balls to think big . I keep having to remind myself that if I risk and fail , it won ’ t kill me . As Gordon Moore said , “ If everything you try succeeds , you ’ re not trying hard enough ”.
Q . HOW DO YOU SEE THE ROLE OF AI EVOLVING IN THE TECH INDUSTRY IN THE COMING YEARS , AND WHAT EMERGING TRENDS DO YOU THINK WILL DRIVE THIS EVOLUTION ?
» I ’ ve been active in AI since the 1980s , when the collective brain trust could gather together in a fairly small conference venue . My first business , in the 1990s , was using neural networks for time series forecasting and modelling for business applications .
18 July 2023