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Compliance Team
Angels Den

Dear User,

You may have heard about the new General Data Protection Regulation (“GDPR”), that comes into effect May 25, 2018.

We would like to ensure you that your personal data is safe with us. Please read the details regarding the processing of your personal data and if you agree with the processing as described below, please click the ‘I agree’ button.

Please be informed that you can withdraw this consent at any time.

1) What data are we talking about?

We are disclosing details regarding the processing of personal data that is collected within our calls and in connection with your use of Angels Den’s platform, Websites and other functionalities of Angels Den, including those saved in cookies files.

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Angels Den Funding Limited (hereinafter referred to as AD) will be the controller of your data (Angels Den means all entities from the Angels Den capital group, which includes Angels Den Funding Limited with its registered office in London and all entities related to it and dependent on it) and only our Trusted Partners.

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We process this data for the purposes described in our Privacy Policy, including:
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Where you have explicitly consented to be contacted for such purposes, we use your personal data to provide information on our new and existing products and services.

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In accordance with applicable law, we may transfer your data to entities processing it at our request, e.g. marketing agencies, subcontractors of our services and entities authorized to obtain data under applicable law, e.g. courts or law enforcement agencies - of course only if they submit a request based on an applicable legal basis. Furthermore, we will transfer your data to Trusted Partners outside the European Union – to the USA – under the EU-U.S. Privacy Shield Framework.

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You have the right to request access to, correct, delete your personal data. You can also withdraw consent to processing of personal data, raise objections and use other rights granted under GDPR (i.e. right to data portability).

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We use cookies to give you the best experience on our Website. This means that we have placed cookies on your device. If you continue without changing your cookie settings, we assume that you consent to our use of cookies on this device. You can change your cookie settings at any time but if you do, you may lose some functionality on our Website. More information can be found in our Privacy Policy.

In connection with the above, I agree to the processing of my personal data by Angels Den and its Trusted Partners. I confirm that I understand that my personal data is being collected as part of my phone calls, use of AD’s online platform, Websites, and other functionalities of AD, including the data saved in cookie files. I also consent to profiling in order to allow Angels Den and its Trusted Partners the provision of better services (including for analytical purposes). Your data will only be processed on a valid lawful basis in accordance with applicable data protection laws. The processing of your personal data for marketing purposes (including statistical analysis) by AD is based on the firm's legitimate interest. The processing for marketing purposes by our Trusted Partners is only possible if we receive your freely given consent. We will also process your personal data to fulfil our contractual obligations to you as contained in AD’s Terms and Conditions of the use of our Website and services. Therefore, this data will be processed on another lawful basis – ‘contract’. We will also process your data to comply with our legal obligations for our Service (such as anti money laundering and know your customer requirements), which is also a valid lawful basis in accordance with applicable data protection laws.

Expressing this consent is voluntary and you can withdraw at any time.

If you have any doubts or questions about the use of your personal data, please do not hesitate to contact me via email. I’m happy to assist.

Compliance Team
Angels Den
cl@angelsden.com

Using Critical Thinking in Business

Using Critical Thinking in Business

From developing a minimum viable product to growing a business, entrepreneurship comes with a lot of challenges. In this context, there are many tangible and practical benefits of applying critical thinking.


Understanding critical thinking 

Critical thinking is the ability to analyse the way you think and present evidence for your ideas, rather than simply accepting your personal reasoning as sufficient proof. In short, critical thinking is the analysis of facts to form a judgment. One of the most common challenges when facing any problem solving is the desire to rush off and get to an answer as soon as possible. Unfortunately, this often leads to only solving a symptom, not the cause of the problem. This is the reason why turning the attention to the symptom leads to the discovery of many other symptoms while the problem persists. What is the best approach in this situation?


Analysing the problem

When people are asked to look into an issue, they often start solving it without really thinking through what is causing it. When applying the critical thinking process, first, consider causes. Start with why. Have a close look at the symptom that is problematic. Once you have a good understanding of why, do not fall into the trap of stopping there. Once you have that understanding, ask why again. Figure out the real reason behind what is happening. Gain a deep understanding of what is causing concern on your stakeholder's part. This is the best road to take in order to avoid solving symptoms, and instead, come up with a recommendation that is going to solve the real problem.


Example 

For example, at the end of the process of developing a food delivery app, the product owner realizes that the app is not working properly. In an attempt to find a quick solution, he/she turns to the developers and asks them to use more resources to focus on the code. Soon, they realize that the code wasn’t in fact ready. Why? Because the specifications were not done in a timely manner. Why? The reason is that they did not agree on the features and functionalities of the app. Going deeper, the team comes to the conclusion that developers were not given clarity by the product owner around one aspect that was a major strategic decision.


Breaking big problems into small ones

This is not a new concept. Breaking big problems into small pieces has various applications. For instance, in Project Management people use Work Breakdown Structure (WBS). This involves identifying the major functional deliverables and subdividing those deliverables into smaller systems and sub-deliverables. These sub-deliverables are further decomposed until a single person can be assigned. You can find another application of this principle in computer science, where there is an algorithm that is quite popularly known as the divide and conquer algorithm. The concept behind this algorithm is breaking a large problem into smaller ones, and then further breaking the smaller into sub-smaller problems until these become simple enough to be solved directly.


One of the first steps in any good critical thinking process is based on the same principle. Take an overwhelming problem and break it down into smaller ones that one individual can actually solve. The time spent thinking through what the components of the problem are is going to pay dividends on the backend when you analyse the possible solutions because you are going to have a better sense for what recommendations and solutions to pursue.


Using critical thinking when generating a recommendation

Once you generate a recommendation, stop and think critically. What new problems can you create, if you implement this recommendation? What are the new symptoms that will be caused? Think that through before you implement your recommendation. 


Example

In the 1970s, Schlitz (one of America’s most popular beer brands at the time) decided to compete with Budweiser. In order to do so, the head of Schlitz Brewery Company, Robert Uhlein Jr., made the decision to cut costs in the ingredients used in the beer production. He also wanted to speed up the brewing process. By replacing Barley malt with corn syrup and the foam stabilizer with a cheaper version, the beer did not taste the same. The brew time also went from 40 days to 15. The final result led to a good initial profit, but by 1981, they had to shut down their Milwaukee plant. A Milwaukee mayor compared it to the sinking of the Titanic.


This is a very good example to illustrate that sometimes a solution might solve a certain problem (the profit was indeed higher in the beginning) but cause more problems in the long run.


It comes as no surprise that critical thinking abilities are some of the most sought-after skills in almost every industry. Make sure you put aside any assumptions or judgments when analysing a problem your business is confronting with. Instead, try asking ‘why?’ until you get to the bottom of the problem.