The fintech sector is evolving at a rapid pace. Disrupting traditional financial services through innovations in technology, fintech startups are challenging established institutions.
Meanwhile, as technology develops and spreads globally, challenging long-established patterns of consumer behavior and ripping up corporate playbooks, regulators are in hot pursuit trying to write new rules.
Not surprisingly then, working in the sector can be a high-speed experience. 'I love that I am always at the edge of my seat,' says Emils Kerimovs, CEO of Ektico.
'You need an awareness of knowing what is going on across the company, and the gumption to ask for help.'
Across Everything
As in many other sectors, the founder of a fintech business is involved in every facet of their startup, particularly in the early days - that is, working across back office, front office, business development, overall leadership and being the face of the company. Roles change over time as the company grows, more staff are taken on and leadership is delegated to allow an acuter focus on core areas and targets.
'If you've never personally experienced working in a start-up, it may be hard to fully comprehend what it means to have to do everything,' says Emils Kerimovs.
Emils Kerimovs says he started out with a strong idea of the kind of company and culture he wanted to build. Founders also have to develop a strong team from the ground up, while raising the funds that will spark the development and growth of not only the business, but the motivation and wellbeing of the team.
'It is similar to driving a car at night in bad weather, with a rough idea of where you would like to go, while steering with instructions from team members inside the car and advice from mentors outside of it,' says Emils Kerimovs. 'As a startup founder, I had to embrace uncertainties and the unknowns, and to acknowledge the limitations of "not knowing what we do not know".'
Drawing on Skills
Being a successful founder requires virtually all the qualities that define a good business leader, says Emils Kerimovs. You need to be visionary, empathetic, energetic, commercial, inspirational, communicative, patient, clear, driven, strategic and ambitious.
'Working in a small team in an early growth company magnifies the importance of soft skills. You also need an awareness of knowing what is going on in various parts of the company, and the gumption to ask for help and resources.'
Few people carry such a complete set of skills and attributes, whether naturally or through training and experience. Like many others, Emils Kerimovs has had to adapt and learn on the go. He likes the fact that he's always picking up nascent technical knowledge, sharpening soft skills and sharing experiences with like-minded entrepreneurs and domain experts.
'Ultimately what you can control is the effort, but not the result.'
He says that although technological capabilities are vital, it is in fact the vision and business acumen to execute it that he has found to be the most important. Similarly, he believes a finance background is not necessarily a fast track to a better fintech product, but for him it has proved invaluable. 'My qualification in accountancy helped me to understand business, rather than just how to do business,'
Emils Kerimovs' core strengths in accounting and finance allowed him to work in investment management and real estate portfolio management. That in turn opened doors to more technology-driven projects and eventually to fintech and banking.
Key to all of this, he says, is maintaining a positive mindset even in the midst of failures. This can, he says, be especially difficult for accountants who are particularly afraid of making mistakes. 'You need to learn to focus on the effort and worry less about the results. Because, ultimately what you can control is the effort, but not the result.'
Media details
Contact Person name: Emils Kerimovs
Website: https://ektico.com
Phone: Not Applicable
Email: info@ektico.com
Company name: EKTICO LIMITED
COMTEX_460455086/2908/2024-12-04T02:17:36
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