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Welcome to another edition of Workshift! The exclusive newsletter for Leaders, Founders and Managers.
If you missed last week's issue, catch up here.
In Today's Email:
- What’s your definition of a startup?
- Here’s what to expect from the 60/40 portfolio over the next ten years
- AI Tool Of The Week 🤖: Legal Robot makes legal support accessible for businesses of all sizes
- Opportunity Of The Week 💡: Apply for $50,000 before July 7 if you’re a Fintech or developer building for Africa
THE BIG IDEA
What’s Your Definition of a Startup?
I came across a tweet that led to an insightful article on startups, and you'll find it equally fascinating.
The old piece, titled "Startup = Growth," dives deep into the essence of what makes a startup different from any other new business.
The crux of the article is simple yet profound: a startup is a company designed to grow fast.
This isn't just about being new or tech-focused; it's about an intrinsic drive for rapid expansion. The author, Paul Graham, argues that growth is the single most critical factor that defines any startup.
This growth-centric nature is what distinguishes companies like Google from a successful barbershop.
Google was set apart from the beginning, built to reach and serve a massive market with a scalable solution.
Graham makes a compelling point about the necessity of making something people want and being able to reach all of those people. This is where many businesses hit their limits, either constrained by the local market they serve or by the scope of their product’s appeal.
A barbershop has a local clientele, but a startup needs to have a global mindset.
Graham also touches on the rate of growth needed to qualify as a startup. He suggests that a good benchmark is a weekly growth rate of 5-7%, with exceptional startups hitting around 10%.
What’s particularly intriguing is how Graham connects growth with value.
He points out that a startup growing at 5% per week can transform into a company generating millions in revenue within a few years. This exponential growth potential is why startups attract so much attention and investment.
Understanding growth isn’t just about metrics, it’s about framing your entire strategy around it.
For anyone looking to start or scale a company, Graham’s insights provide a clear roadmap.
Challenge Of The Week 🎯
If you’re sitting and reading this newsletter, chances are, you're probably slouching. It’s something we do without realizing it.
Maybe your back is curved, your shoulders are rounded forward, or your neck is craned toward the screen. Poor posture can contribute to bad health.
Before you continue reading, take a moment to sit up straight. It does a lot more than you think.
Hire Vetted Talent Faster 🚀
Are you currently hiring? Click here to receive quality talent profiles under 48hrs, for FREE.
Learn From The Best ✍️
Ralph Lifshitz was born on October 14, 1939, in Bronx, New York.
At 16, he changed his name to Lauren due to constant bullying.
When he was 28 working at Beau Brummell, he convinced them to let him start his tie line, resulting in the Ralph Lauren Corporation.
And the rest is history.
Don’t forget to save the image so you can always glance through it!
Credit: Ambition Chronicles
Meme Of The Week 😂
Credit: Ongig
Where You Should Be 🌍
SuperReturn Emerging Markets
The private capital event for emerging markets will be held in Hotel Okura, Amsterdam on the 24th-26th June 2024.
Who will you meet?
Companies attending include Maihar, 57 Stars, Blue Earth Capital, ILX Fund, idiem Partners, Taxim Capital and more. This is the most international audience of emerging market-focused investors you will find anywhere, with delegates from 45+ countries.
Your Target Audience Are Our Friends 🎯
You can advertise with us, details here.
Recommended Read 📚
A unicorn founder gives you step-by-step advice on everything from finding product-market fit to managing investors.
This is a daily playbook that you will return to over and over again as a reference while building your business.
Roundtable 🔄
Economic Trends For You 📈
- Global trends and potential implications
- The European Central Bank (ECB) is embarking on a new phase of monetary policy
- Policymakers start to grasp a gloomier outlook on the economy
Workplace Culture 👥
After Scale raised $1 billion in a round led by Accel, Alexandr emphasizes how adopting a new meritocratic hiring policy can further contribute to organizational success.
Investing News & Opportunities 💰
- BII partnered with Meridiam and provided $15M to Rift Valley Energy for sustainable energy expansion in Tanzania, with the potential to increase this to $25m
- StepStone raised the largest fund ever for venture secondaries, reflecting investor sentiment in the current market
- Amazon plans to invest €10 billion in Germany
- Here’s what to expect from the 60/40 portfolio over the next ten years
There’s More To Being A Leader🎖️
- The single most powerful strategy for healthy co-founder relationships
- Tackling Africa’s $330 Billion Credit Gap
- 5 secrets to think like a Founder/CEO
- AI Tool Of The Week 🤖: Legal Robot makes legal support accessible for businesses of all sizes
- Opportunity Of The Week 💡: Apply for $50,000 before July 7 if you’re a Fintech or developer building for Africa
Pro Tip To Take You Through The Week🌟
What’s Happening? 🤷♂️
While you were away at work, these 5 things happened:
- Climate tech is leading African startup funding in 2024 with $325 million
- Google CEO testified at trial of collapsed startup Ozy Media
- Nvidia passed Microsoft in market cap to become most valuable public company
- Apple is ending its pay later loan scheme
- Nigeria will be sending its first citizen to space
Share With Your Friend 📣
If you know this newsletter can help someone in your network, why don't you go ahead and share?🚀
ABOUT CAREERBUDDY
Hire Smarter, Not Harder
At CareerBuddy, we make hiring seamless for fast-growing companies, we pride ourselves on knowing the best people that will excel in a Startup. With a candidate retention rate of 90.3%, it is safe to say “We are the best in the game for Startup hiring in Africa”.
We have worked with our partners to hire both for Technical and Non-Technical roles, we have also helped them with expansion in Africa. Some of our clients include Bamboo Invest, Helium Health, Cassbana, Cadana, Fincra, CrowdForce, Casava, TeamApt (now Moniepoint), Sabi, etc.
Are you hiring at the moment? Contact us
Written by Onekpe Regina
Edited by Oluwaseye Adesina
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