Professor Alnoor Bhimani speaks on Lean Financial Management for Tech Entrepreneurship

On 1 March 2018, Professor Bhimani delivered an address on lean financial management for tech entrepreneurship at the University of Law in London. The talk identified the differentiating features of industrial versus digital enterprises and explained how the mechanics of tech start-ups offer the possibility of super-fast growth. Professor Bhimani highlighted the extreme risk taken by investors backing tech start-ups and described the key characteristics which made only a small proportion of such firms attractive to venture capitalists. He noted that accounting information must be made leaner, simpler and connected to tech in a highly focused manner to enable ‘techpreneurs’ to monitor their model and activities and to experiment with their business hypothesis on an ongoing basis. He identified ‘winning’ products as not necessarily ones which sell in high volumes earning high margins but ones which accelerate growth through effective pricing and which harness network effects and put into effect optimal user ‘lock in’ strategies.