Darren Herman

A much smarter man than I said that competing with big companies is much easier than small companies.  Big companies are hard to pivot and change; so they either acquire you (good for investors) or you bring them down.  Actually, he said that today at the TechCrunch Disrupt Conference today in New York City.  His name, Michael Bloomberg.

Bloomberg is a trifecta for this post:  his quote, his background in finance, and his track record as an entrepreneur.

In the office, I’m responsible for digital marketing strategies for a few financial companies (no conflicts) that we’ve all heard of.  But a funny thing is happening on the way to the office.  Thru email and through introductions, I’m being introduced to about a half dozen startups that are tackling the financial sector.

Now is the perfect time.

You do not need to read another rant about Wall Street, as I’ll leave that to more financially-minded folks than myself.

When in a fight, you want to knock your opponent down when he’s hurt.  The bigger they are, the harder they fall.  During a professional boxing match, the fighters are trained to wait/observe for weakness and then attack.

Right now, banks are hurt and they are ginormous.  It’s the perfect time to go after them and attack.

2 financial companies are presenting at the Disrupt conference this week:  Plantly and Betterment (I’m assuming a play off the words “better investment”).  The third made press waves last week and is called Banksimple.  There’s even a fourth that I’m seeing ads for:  Ally Bank.

I don’t know the intricacies of each of their business plans, but they are certainly positioning themselves in a market where the nimble can out maneuver the biggies.  Also, being big these days in finance may not resonate with consumers so well.

This is an area that I’m watching.  If you are part of the senior team at any of these companies (or others), I’d love to chat.

Crunchbase Profile:  Plantly
Crunchbase Profile:  Betterment
Crunchbase Profile:  Banksimple