Friday, May 17, 2019

Startup Success: Five Proven Business Models - Online - London Business School Review

Startup Success: Five Proven Business Models - Online - London Business School Review

Startup Success: Five Proven Business Models - Online - London Business School Review

Posted: 17 May 2019 05:03 AM PDT

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John has worked and consulted for high-growth retailing firms. He has also served on the boards of fast-growth companies in Europe, North America and Asia.


An award-winning teacher and scholar, and one of the world's foremost thought leaders in entrepreneurship, Professor John Mullins brings to his teaching and research 20 years of executive experience in high-growth retail firms, including two ventures he founded and one he took public.

Since becoming an entrepreneurship professor in 1992, Professor Mullins has published five books, dozens of cases and more than 50 articles in publications including Harvard Business Review, MIT Sloan Management Review and The Wall Street Journal. His research has won national and international awards from the Marketing Science Institute, the American Marketing Association, and the Richard D Irwin Foundation. He is a frequent and sought-after speaker, and educator for audiences in entrepreneurship and venture capital.

Professor Mullins has taught executive education on five continents for many organisations both large and small. They include the Young Presidents' Organization, Endeavor, the Entrepreneurs' Organization, Kenya Airways, Merck-Serono, 3M, the European and African Venture Capital Associations and the IFC, among many others. He has served on the boards of fast-growing entrepreneurial companies in the US, UK, Europe and Asia.

‘China’s Google’ Posts First Loss Since 2005 - The Wall Street Journal

Posted: 17 May 2019 02:28 AM PDT

BEIJING—Chinese search-engine giant Baidu Inc. reported its first quarterly loss since going public in 2005 and warned that the cause—weak advertising—is likely to linger due to China's slowing economy.

Once called the Google of China for its search technology, Baidu missed the consumer switch to smartphones, falling behind Tencent Holdings Ltd., which dominates online games and social messaging, and e-commerce behemoth Alibaba Group Holding Ltd. To try to catch up, Baidu has expanded into driverless cars and artificial intelligence,...

Walmart Shutters Underwhelming Online Business in Brazil - Sourcing Journal

Posted: 16 May 2019 10:22 AM PDT

Walmart Brasil is shutting down its e-commerce business, opting instead to focus on improving its brick-and-mortar operations in the region. The company made its foray into Brazil's e-commerce marketplace in 2011, and while Walmart is the No. 2 retailer in the U.S., it never truly managed to find its footing in Latin America's largest retail…

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Small Business Customers Embrace AI-driven Insights and Advice Integrated Into Online and Mobile Banking - MarTech Series

Posted: 17 May 2019 03:55 AM PDT

Average Rating of Financial Insights Delivered to Business Customers Is 4.6 out of 5

Following the success of its AI-driven consumer banking solutions, Personetics now brings the power of AI to small business banking.

The Personetics solution is designed to help small businesses proactively manage their day-to-day banking needs, optimize cashflow and ensure they have enough liquidity to support future growth. Integrated into the bank's online and mobile experience, the solution enables business owners and managers to stay in control of their financial affairs anytime, anywhere.

Banks that have implemented the solution are getting strong positive customer feedback. AI-driven insights powered by the Personetics solution receive an average rating of 4.6 out of 5 from business users, slightly higher than the average consumer rating.

Small Businesses Want More from their Bank

A survey conducted by Personetics shows a significant gap between the needs of small businesses and their current banking experience. Some of the key findings include:

  • As many as 90% of small business owners would like to conduct their banking activities digitally, but only 41% do it today.
  • Two thirds of the respondents want online cashflow management, forecasting and budgeting tools from their bank.
  • Only 14% are currently getting financial guidance from their bank.

"AI is increasingly enabling banks to bridge the gap between small businesses' needs and their ability to meet these needs," said Alenka Grealish, Senior Analyst at Celent Banking Practice. "Historically, delivering value-added services to small businesses has been cost prohibitive for banks. AI allows banks to customize service and provide advice digitally, thereby lowering costs and democratizing services that were only available to large businesses in the past."

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Meeting the Needs of Small Businesses with AI-driven Insights and Guidance

When asked about their financial challenges, small businesses ranked cashflow issues at the top of their list, followed by making payments and ensuring timely collections. Using the power of AI and predictive analytics, banks can help businesses address these challenges, improve financial control and simplify money management:

  • Proactively highlight payment and receivable issues to provide greater visibility
  • Predict future cashflows and suggest corrective actions to preempt balance shortfalls
  • Recommend relevant financing options to address liquidity and growth needs
  • Provide a holistic view of actual and planned financial activities using bank and accounting data

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Reducing Time-to-Market and Keeping Business Banking Agile

Small business banking has long lagged consumer banking in digital investment, opening the door for fintech players to chip away at critical profit centers such as lending and payments. According to industry analysts, banks must act quickly to stave off competition in small business banking. The Personetics solution comes with a rich library of over 50 prebuilt insights tailored to business users' needs, allowing banks to significantly shorten time-to-market.

At the same time, the ability to adapt the solution to their unique customer engagement strategies is critical for banks. Similarly, banks must have the tools to continuously adjust the solution to changing customer and business needs. The Personetics Engagement Builder allows banks to modify pre-built insights, create their own custom insights, and maintain complete control over the user experience.

"The small business solution is a result of our work with banks around the globe to address the shifting expectations of business customers as they become more digital-savvy," said David Sosna, Personetics co-founder and CEO. "Banks that act on these emerging needs have an opportunity to turn online and mobile banking into the go-to places for businesses to manage their day-to-day finances and stay ahead of the rapidly evolving needs of their small business customers."

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Waitrose eyes rapid expansion of online grocery business - The Guardian

Posted: 16 May 2019 09:47 AM PDT

Waitrose is aiming to treble the size of its online business to £1bn annually following the end of its partnership with Ocado, by teaming up with one of the grocery delivery specialist's co-founders.

Waitrose is targeting rapid online revenue growth over the next three years with the help of a new partner, Today Development Partners.

The technology business has been set up by Jonathan Faiman, a former Goldman Sachs banker who left Ocado in 2009, and Mo Gawdat, the former chief business officer of Google X, the search engine's innovation lab.

Waitrose, which is part of the John Lewis Partnership, currently sells its products via and Ocado.

But from September next year, its deal to supply Ocado will come to an end after the online grocery specialist signed a £750m deal with Marks & Spencer.

TDP will help Waitrose develop technology for three new automated distribution centres, so that the supermarket can expand its business and take on Ocado's robot-backed service.

It is understood that Waitrose will have a small stake in the new technology business, which could work for other retailers in future.

The service, which was launched in 2000, is currently served from stores and a distribution centre in Coulsdon which opened in 2015. A further distribution centre to serve the north London area is already in development, in addition to the three automated facilities planned in partnership with TDP.

Rob Collins, managing director of Waitrose, said: " is a popular and efficient home delivery service that is already growing strongly ahead of the market. The plans announced today represent a clear commitment to achieve rapid step-change in's capacity and capability as we build a modern, well-invested digital business that is fit for the future."

Collins has previously said he is confident that shoppers who currently use Ocado to buy Waitrose goods will migrate to

One analyst poll also suggested that Ocado risks a customer exodus as a result of its M&S tie-up as shoppers did not see it as an adequate replacement for Waitrose. In March, Waitrose said its online grocery sales had climbed 14% in the year to January and it was aiming to double sales by September 2020.

Faiman, the former chief operating officer of Ocado who has known the group's chief executive and co-founder Tim Steiner since nursery school, sold his stake in the grocery business some years ago. He has since invested in private businesses including an $150m stake in oil venture Neos in 2015.

He said: "I am delighted and privileged to be back within the John Lewis Partnership family and we will deliver for customers the world's best digital home delivery service."

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