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Can Therapy Help You Become a Better Startup Leader?

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Deanna Ritchie


Technology startups can only be successful under the oversight of a strong leader. But how do you become a strong leader? And how can you stay sane and effective in this role? One option is to attend regular therapy sessions. Keep reading to learn how therapy is effective for startup leaders and how you can get the most out of your sessions.

How Therapy Can Help You as a Leader

For most startup entrepreneurs, therapy is worth the time and money. If you have a good health insurance policy and individual therapy sessions are only going to cost you a small copay, you should at least give therapy a try.

There are many different types of therapy and psychiatric help available, but we’re using the term generally here. In most therapy approaches, you’ll eventually see benefits like the following:

Emotion Regulation

One of the greatest benefits of attending regular therapy sessions is the ability to regulate your own emotions. Instead of making rash decisions based on an intense emotion or having your entire day ruined by a single problematic incident, you’ll feel more control over your emotions and the actions you take in response to them.

This isn’t something that happens overnight. Instead, you’ll develop a series of recognition and processing skills that allow you to witness your emotions unfolding in real time and seize control before they dominate your decision-making. If you can stay calm under pressure, you can effectively lead your team during even the most difficult crises. You’ll also inspire your team to remain calmer and clearer in most situations.

Stress Relief

Therapy also plays a role in reducing your stress — and there’s certainly no shortage of stress as a startup entrepreneur. You’ll probably be working long hours in tough circumstances, and income volatility may weigh heavily on your mind. But when you have a neutral third party who’s willing to listen to you and your feelings, the pressure is often significantly lessened.

Objectivity

Are you feeling unsure about a new acquisition? Are you regretting your latest hire? A therapist can be a useful, neutral listening ear. They’re not going to tell you what to do, nor are they going to evaluate your decisions. But they will guide you in asking the right introspective questions to help you find the answers you’re looking for. Even if you feel like you have everything sorted out, a good therapist can help you explore your mind in new ways.

Improved Relationships

With the help of therapy, you can put your relationships in a better context. You can more appropriately manage your feelings and work with the emotions of others. That’s going to lead you to form and maintain better relationships at work. You’ll form closer bonds with your partners and colleagues. You’ll treat your subordinates better and create a better environment for them. You may even get along with your clients better.

Relationship improvements don’t stop at the office; regularly attending therapy can also lead to better relationships at home. Obviously, your personal relationships don’t have much direct influence on the development of your startup, but if you have a supportive environment to come home to, the stress of managing a startup will easily melt away at the end of the day.

Recognition of Crisis Points

Startups are especially prone to volatility. No matter how hard you work or how much you plan, you’re eventually going to run into a major crisis. How do you deal with this stress? How do you stay sane during these tumultuous times? Therapy doesn’t have all the answers, but it can make this type of crisis much easier to handle. Regular sessions can equip you with the tools you need to work more effectively through any ordeal and avoid burnout.

Better Coping Skills

Similarly, therapy sessions can equip you with improved coping skills. Whenever you experience rejection, failure, or seemingly insurmountable obstacles, you can remain strong and push through adversity. Even if you’re already mentally tough, you shouldn’t turn down a potentially helpful boost.

Superior Communication Abilities

Going to therapy is associated with better communication skills as well. Your therapist will guide you with leading questions, helping you articulate your thoughts and feelings in a more clear and concise way. And by learning from the clarifying way your therapist phrases certain statements, you can talk to your employees and clients more effectively. You’ll also gain more emotional intelligence, which can assist you even further.

Higher Self-Esteem and Confidence

Whether you’re gearing up for your busy season or are dealing with a new competitive threat, entrepreneurs are constantly forced to make hard choices. The more confident you feel, the easier those choices are going to be — and the more respect you’ll win from your employees and partners. After several therapy sessions, you’ll almost certainly feel a confidence boost that will stick with you indefinitely.

Fine-Tuned Emotional Intelligence

Higher emotional intelligence means you’ll be able to more easily recognize emotions in other people and respond to those emotions appropriately. You’ll also have an easier time recognizing and controlling emotions within yourself. It’s an excellent recipe for healthier workplace interactions.

Specific Issue Resolution

If you’re struggling with a specific behavioral or psychological issue, therapy can guide you through it. For example, if you regularly struggle with depression or if you have anxiety associated with specific types of interactions, your therapist can work with you to help resolve these issues. This is beneficial in the workplace because unresolved issues won’t affect interactions or decision-making at inappropriate times.

Additional Support

If your therapist is unable to provide you with the help or support you need, they can guide you to more appropriate resources, such as support groups or other specialists. In some cases, psychiatrists may be able to prescribe medication to alleviate some of your mental health symptoms. Whether it’s antidepressants, mood-stabilizers, or anti-anxiety medication, it’s important to get the help you need if you’re struggling with your mental health.

Increased Productivity

Many people who attend regular therapy sessions demonstrate higher productivity, thanks to all the above benefits and other effects. When you’re more confident, more in control of your emotions, and you develop healthier relationships with others — productivity is a natural byproduct. As for you and your team, you can focus on what matters most at work because your mental health is well-managed.

Getting the Most Out of Therapy

Therapy has many benefits, but it’s not a solution for everything. Before you try therapy in your own life, keep the following in mind:

Therapy isn’t a magic pill.

Don’t go into therapy thinking it’s immediately going to “fix you” or make you a better person. There’s no magic switch you or a therapist can flip to make your life better.

Therapy requires work.

In line with this, you need to understand that therapy requires work on your part. You need to actively engage with your therapist in your regular sessions and practice the techniques and habits recommended to you by your therapist in your daily life. Only through effort and consistency will you see results.

It may take time to find the right therapist and approach.

Therapy is an art as much as it is a science. You may not click with your first therapist, and it may take some time before you find a combination of therapeutic strategies and techniques that work for you. Try to remain patient during this time and be open to trying new approaches.

Therapists can’t solve everything.

Your therapist isn’t going to help your pitch your startup idea to investors, nor will they be able to make hiring decisions for you. While therapists can be enormously helpful in regard to your mental and emotional health, they aren’t going to offer much advice to help you run your business.

With the help of therapy, any startup entrepreneur can conceivably become more effective, more confident, and less stressed. Just make sure you set proper expectations before you schedule your first session so you can get the most value out of the experience.

Featured Image: Karolina Grabowska; Pexels.com. Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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