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As startup mentors will tell you, a successful entrepreneur needs to:
Online banking is a great way to develop these skills. Here's why:
#1. Take risks
Online banking portals mince no words when they tell you that you're on your own while making an electronic fund transfer. Their warnings include:
If you still proceed, you're already a pro risk taker.
#2. Move fast but be patient
You want to make a payment quickly. You don't want to wait for the 1-2 days it takes for a cheque to clear and head over to your bank's online banking portal instead. Assuming that you've mastered #3, you'll be able to add a new beneficiary within a few minutes. (If you've not mastered #3, cheque would be faster). You'd then be told to wait for "cooling period" to get over before initiating a payment. Depending on the bank, this wait time could be as long as 24 hours. If you've thought "make haste slowly" was an oxymoron, this experience will not only change your mind but make you an ace at this skill.
#3. Thrive on ambiguity
Online Banking presents a rich treasure trove of ambiguity e.g.
After all this, if you've successfully set up a payee account, you've crushed ambiguity.
*****
I don't claim to be a great entrepreneur but, for the few entrepreneurial skills I do have, I've only my online banking to thank.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Alexander Boehm Chief Executive Officer at PayRate42
05 September
Alexander Saleh Head of Partnerships at Coincover
02 September
Alex Kreger Founder & CEO at UXDA
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