The Twenty Minute VC with Morten Lund, Chairman @ TradeShift
3 Reasons TradeShift Can Be The Dominant Leader In European Fintech
- Market Opportunity: All European banks have $1bn per year allocated to investing in technology spend.
- Becoming A Network Business: Tradeshift’s core client base is made up of incredibly large corporations (Nike, DHL, The NHS). These corporations have the ability to roll out TradeShift to all their suppliers, who in many cases are huge companies, presenting the inherent adoption sales affect that Tradeshift will begin to experience and exploit.
- Rockstar Team: The team’s ability to close significant clients, as highlighted above, clearly highlights their ability to depict and sell the vision to global corporations, despite the fact that at the time, Tradeshift was a very young and unstable company.
What 2 Characteristics Does Morten Look For In Founders:
- Curiosity: “As Dell noted, curiosity can inspire leaders to continually seek out the fresh ideas and approaches needed to keep pace with change and stay ahead of competitors.” These days, a leader’s primary occupation must be to discover the future. So ask, why? Question everything. Use curiosity not only to explore new and uncharted waters but also to have a breakthrough on old, or overly “familiar confines.” One thing to remember, it’s a continual search.
- Stamina: The rule of thumb is that startups take 3X more time and 3X more money to execute. With this in mind, the founder has to be unwavering in their desire to execute their vision and pursue this with excessive stamina. As Morten highlights, ‘things take forever’.
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