KineticOne is meant for startups in the logistics and supply chain spaces and mainly acts as a deal sourcing unit for VC firm Mount Parker

KineticOne, an accelerator launched recently by Hong Kong-based seed-stage VC investor Mount Parker Ventures, has announced the names of five startups who have graduated from its one-day intensive programme.

KineticOne, which is meant for startups in the logistics and supply chain spaces, mainly acts as a deal sourcing unit for Mount Parker, which has invested in several startups including Gogovan.

Unlike a typical accelerator programme which primarily focuses on the startup pitch (which usually takes about half the time in an accelerator), KineticOne works with the startups to set their core business model, establish their internal tracking metrics, and help them on customer development.

Below is a brief profile of the five ventures:

BookAirfreight

Based out of Hong Kong, BookAirfreight.com brings convenience and price transparency to air cargo shipments. Its online booking engine automatically connects SMEs directly with air freight forwarders eliminating the cost and inefficiency of third-party brokers.

Rice Robotics

Rice Robotics is innovating in the last-mile delivery space. Its robot reduces the ‘last 50 metre’ delivery expense by accepting deliveries from carriers at the building entrance and delivering them to the recipients.

Anapi

Singapore-based Anapi provides new forms of insurance solutions to the logistics industry. E-commerce has created new categories of uncertainties and and insurance is unsuited to high frequency, low value claims. Anapi fills this void with its AI-powered tools for self-insurance and risk mitigation.

Haulio

Haulio, also based in Singapore, targets the inefficient haulage market where over half of trips are made carrying no cargo. Its SaaS product helps haulage companies manage their fleet and its marketplace matches spare capacity with loads.

ParcelPerform

Singapore-based ParcelPerform tackles the issue of data fragmentation across numerous carriers. Its solution allows customers full and granular insight into the location and delivery status of their package, as well as providing merchants with customer service tools.

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Here’s how co-working spaces is changing the future of work culture

A couple of years ago, a quick glance at a co-working space would have given you a good idea of the people who work there.

The low seating, cushy beanbags, foosball tables, and readily available cold brew coffee (and maybe even beer) would tell you that the users were young — think – tech entrepreneurs, designers or creative types.

Walk into a co-working space now, and you’ll notice a few differences. The beanbags are mixed with other ergonomic chairs with adequate lumbar support.

The game room will be complemented with a mothers’ room. The cafeteria will likely serve a variety of food and beverage options to cater to different dietary needs.

If this makes you think that co-working spaces have diversified, you’d be right. The people occupying these spaces are no longer exclusively tech-savvy millennials in creative fields.

Diversity

Today, many older employees are switching gears into their careers or are launching a company backed by decades of experience in the corporate sphere.

A lot of older professionals also continue to work after retirement, with consulting roles and short-term projects. In fact, a study of co-working spaces by Statista showed that the number of people aged 60 and above quadrupled between 2016 to 2017.

On the other hand, thanks to the new wave of university-operated co-working spaces, it is not unusual to see students using these spaces to do their homework or network with industry professionals.

Also Read: We checked out 6 of the best co-working spaces in Beijing, so you dont have to

The companies operating out of these workspaces are no longer limited to tech and design startups either.

More traditional industries like banking and finance are making the move to co-working spaces, as are big multinational firms.

For instance, Garage Society in Hong Kong fosters a strong ecosystem for investors and venture capitalists as well. Given the sensitive nature of their data and discussions, its co-working space at Beverly House Wan Chai dedicates an entire floor outfitted with private suites and acoustic meeting rooms to these professionals.

Meeting the needs of the community

Modern co-working spaces today don’t just cater to the professional requirements of their members. As the ecosystem becomes more diverse, there arises a need to build a community, create a sense of belonging and foster camaraderie amongst people. Co-working spaces today are evolving to meet these needs.

Life in urban cities can sometimes be isolating, especially for those who have just moved to a new city and do not have a wide social circle already. Some co-working offices are specifically designed to fill this social and cultural gap.

Conceived as a space that would spark conversations, social club 1880, in Singapore encourages people to relax over food, beverages and music, and debate over issues that are close to their hearts.

Also Read:This co-working space tackles the number one problem working moms face: Guilt

It functions as a lounge, a café, a cocktail bar, a restaurant — and a co-working space for those times when a conversation leads to a brilliant new startup idea or fosters an exciting partnership.

Eaton Club, a similar hybrid workspace in Hong Kong, functions as a social fintech work hub. Complete with a bar and a pantry, it allows members to host meetings over coffee or beer, or entertain a client in style.

Operating from co-working spaces with a well-curated culture actually proves to be beneficial for companies. A study by Harvard Business Review noted that firms largely experienced positive outcomes when working from a co-working space whose culture and work environment align closely to their own.

By 2022, the number of co-working spaces is set to reach 25,968 — a massive 42 per cent increase from 2019. In fact, since 2015, an average of 2,595 new co-working spaces have been set up each year.

In a thriving community such as this, the need for equal opportunities also becomes a pressing requirement — and modern co-working spaces are addressing that too.

For instance, the women-only co-working space Wsquare in Chennai works to support female entrepreneurs in India.

Apart from wellness-led facilities like yoga and life coaching sessions, it also helps ease the mental load when it comes to things like domestic chores and administrative tasks.

From getting chopped vegetables and home-cooked meals delivered to hosting job fairs that help women re-enter the workforce after a maternity break, Wsquare tackles the hurdles that stand in the way of professional success for women.

Also Read:Co-working space chain EV Hive raises US$20M in Series A, will expand to Southeast Asia

Giving back to the community

Co-working spaces are not just at the heart of building community — they function as a hub for those looking to give back to society as well.

Some co-working offices like Impact Hub are designed especially for social entrepreneurs and innovators looking to make a positive change in the world.

Others are home to local activists and non-profit organisations who are passionate about community causes.

Unlike the glitz and glamour of corporate co-working offices, these spaces take a more holistic approach. Take XPACE, for instance, which is opening in Singapore later this year.

Spearheaded by Nichol Ng from The Food Bank Singapore XPACE is a co-working concept centred around food. Designed with all-natural materials, equipped with sustainable furniture and furnished with fittings sourced from small, local manufacturers, the design espouses the authenticity and integrity of the space.

As a community hub, co-working spaces like these allow entrepreneurs to provide mutual support for each other, and connect with mentors and investors who can help realise their goals and ambitions.

Beyond business, economic hubs offer social opportunities to get information and gather together for debates and discussions.

There was a time when marketplaces used to function as the economic and social hub of a community.

As times change, universities and cafés took over this role. Today, with the way co-working spaces have evolved, it is not unreasonable to think of them as the newest social hubs — or indeed, the beating heart of a community.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

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Image Credit: Austin Distel 

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A guide to understanding and entering cloud mining

If you’re looking to enter the cryptocurrency industry, then there are two ways that you can get this done; you can go to an exchange to get your tokens, or you can make them.

The “making” process has been described as mining, and it can be broken down into two general parts; purchases and cloud mining.

In a nutshell, these are the two most popular ways through which a person can get into the mining game. So, let’s take a look at both.

Also Read: LINE launches cryptocurrency and blockchain network

The ASIC software

If you will want to mine pretty much any of the major cryptocurrencies (including and especially Bitcoin) these days, it is important that you become a part of a mining pool and get your hands on ASIC (application-specific integrated circuit) mining software.

This is even truer if you will like to mine and lose as little cash as possible on your operation.

As things stand, the ASIC hardware is preferred because they are the only form of hardware that has the power required to mine most of the major crypto assets.

In addition, you will need to join a pool because no single person can muster up enough hash power to mine a complete block of currencies on their own.

A lot of people who look to mine as a hobby tend to use GPUs or CPUs today. The requirement to join a mining pool is still there, but this method has proven to be ineffective over time.

With an ASIC (or hardware with just as much power), you have a higher chance of making a profit on your mining operation.

Also, energy costs need to be factored in because in some areas of the world, the cost of energy is too high, and this can impact the profits you make off your mining operation.

Cloud mining

Well, that solution is the most likely what you get with cloud mining.

In its simplest form, cloud mining is the activity of mining your tokens with the help of the cloud. It is the use of generally shared processing power, which comes from remote data centres.

Also Read: Mudrex helps crypto traders automate their trading on multiple exchanges without writing code

Cloud mining has the following things going for it:

Better effects on the environment: You can run a cloud mining operation from your home without any inconvenience. There is no heat, and you don’t need to get any fans to keep your systems from overheating, so there’s no noise.

Cost-effectiveness: Also, cloud mining doesn’t need to be a pain on your bill, because you won’t have to pay any additional electricity costs. There is also a lesser chance of being disappointed by any suppliers of mining equipment.

As for the cons of cloud mining, well, they’re quite manageable. As a matter of fact, the most significant con that cloud mining has is the fact that you might not get as much profit from it as you will get with using a fully-formed mining systems.

Also, profits are lower because the operators of these data centres might tend to take their cut of the tokens mined; keep in mind that they have to make money to maintain their system as well.

The most popular forms of cloud mining are the following:

Hosted mining: With hosted cloud mining, you get to lease a mining system that is hosted by your service provider.

Virtual hosted mining: Under this cloud mining form, you get to create a virtual private server, then have your mining software installed on the server.

Leased hashing power: This just might be the most interesting form of cloud mining. Here, you lease an amount of hashing power. It is especially innovative because, with it, you don’t have to rely on the use of a special virtual or physical computer.

Now, if the concept of cloud mining seems enticing to you, then you should definitely check out CryptoUniverse.

The entire CryptoUniverse ecosystem began as merely a “side hustle.”

Three business partners became interested in cryptocurrencies as far back as in 2015, and they began buying up digital assets and learning more about the dynamics of POW mining and crypto assets themselves.

Also Read: Why it makes sense to do business in cryptocurrency

Before long, they were able to open up a fully functional, state of the art mining farm and all the equipment that they needed to mine at a certain scale at the time.

By 2017, CryptoUniverse LLC. was established and the company has continued to grow in leaps and bounds ever since then.

Currently, CryptoUniverse boasts one of the strongest and most stable mining solutions in the entire world.

Particularly, they provide two major services; cloud mining, and sales of mining equipment (as well as complimentary installation services as well).

With a network of well over 30 thousand clients, things are looking up for the company, they have been able to build their services to help them with proper scaling.

CryptoUniverse provides mining equipment, as well as a state-of-the-art cloud mining service.

With their suite of offerings, you can rest assure that your mining operations will be profitable and easy to manage.

As things stand, CryptoUniverse maintains one of the most stable pricing structures in the world.

Their prices are reliable, and they make payments on time, regardless of whether you’re running a cloud mining service or if you are mining tokens on your own.

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From the Eisenhower Box to JOMO, here are some strategies to focus better, improve energy and decrease stress

Everyone has been there: The day is winding down but there is still some work on the table. The person may have two or three hours to spare but they know it is pointless. Their brain is fried and even if they went to their desk it would just result in aimlessly staring at the computer for a few hours before heading home.

This is an example of a person who has done a decent job of managing time, but has failed to properly manage their energy.

At e27 Academy in Batam, Indonesia today, Bjorn Lee, the Founder of the mindfulness company Mindfi, broke down how people can improve their productively by actively engaging with the world around them.

Also Read: How to walk the dilution road so Founders protect their company

The first step for managing energy is understanding where it comes from. It is broken into four sub-categories which are body, emotions, mind and the human spirit. They work as such:

The Body: This one is obvious. Sleeping well, regular exercise and eating healthy all contribute to improved energy and feeling better during the day.

The Emotions: This refers to the quality of the energy. It is not helpful to have a ton of energy if it comes from a place of anger, jealousy or other negative emotions.

The Mind: This is how to harness and focus the energy. We have all experienced moments when we are feeling great but simply cannot concentrate. This is not ideal for work, obviously.

The Human Spirit: This is what gives a person hunger. It is the drive to continue pushing forward and work to achieve their goals.

Mindfulness is the process of trying to harness these energies to help people lower their stress, improve productivity and live a more fulfilling life.

Jon Kabat Zin, who created a center focussed on stress and mindfulness at the University of Massachusetts Medical School, said it as such:

“Mindfulness meditation means paying attention in a particular way: on purpose, in the present moment, and non-judgementally.”

This is also not a pie-in-the-sky hippie ideal but is actually grounded in real brain science. Scientists have figured out what happens to your brain when it wanders vs. when it focusses. The chart is below.

It is impossible to keep on the “sustaining attention” zone permanently and eventually the mind will wander. So, when the mind begins to wander, it is important to notice it, take a break and reset the brain.

One strategy for resetting the brain in the context of work is called the Pomodoro Technique. It breaks focus into 25 minute segments. The idea is to set a timer for 25 minutes and focus only on one task. Then, when the time is up, take a 5-minute break. This 5-minute break is an excellent opportunity to practice mindful meditation because it allows the brain to reset before you tackle the next 25-minute segment.

When the brain enters into a mode where it is incredibly focussed on one task, this is called Deep Work. It a valuable state for being productive, but it doesn’t last forever.

Also Read: Go-Jek debuts beta app in Singapore

Other opportunities to integrate mindfulness into the day-to-day life is during the commute, while eating and when enjoying the daily coffee/tea break.

The other important part of energy management is time management, and one strategy posited by Lee is to follow the Eisenhower box (named after former US President Dwight D. Eisenhower).

It breaks work into four categories:

Urgent-Important: This is the ‘do now’ category. These tasks need immediate attention and full focus.

Ugent-Not Important: These tasks need to be scheduled. Maybe it is working on a pitch deck or cleaning up P&L chart. Yes, it is crucial to a business, but it can be done when the day slows down.

Urgent-Not Important: This is a good opportunity for delegating. It includes tasks like RSVPing for events, answering certain emails or sharing a few updates on social media. In a traditional company, this is often the job duty of a personal assistant.

Not Urgent-Not Important: Kill these tasks. It might seem painful in the moment, but this is incredibly important for making sure important job duties get finished.

Finally, Lee shared 10 tips that can help any Founder improve their ability to move fast and break things.

1. When you wake up, book ‘me time’ in your calendar.
2. Prioritise like Eisenhower (the box mentioned above)
3. Beware of attention hogs. This is often unsolicited inbound notifications or emails.  Are you a master of your own time or are you a slave to other people’s time?
4. Fall (back) in love with to-do lists.
5. JOMO: The Joy Of Missing Out. Feel content with doing something for yourself and disconnecting as a form of self-care.
6. Unlock your phone mindfully. Really give it your full attention. If the decision is still to pick up the phone, that is OK, but it’s important to make it a conscious decision.
7. Drown outer noise for inner focus.
8. Set a time for deep work.
9. Take one curious breath before sleep. This means stopping everything, taking a deep, thoughtful, breath and exhaling slowly. This is a good first-step for integrating mindfulness into your lifestyle.
10. Keep in mind the first and last thing you touch every day. Be aware.

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This article was first published on e27 on November 29, 2018

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Understanding how to increase and optimise several key components of your business can lead to tremendous growth

In today’s business world, the ability of blue-chip companies to continuously develop new strategies to overcome their hurdles give them an edge over their competitors. Well, this same thing goes for startups. As a matter of fact, new startups tend to face even more challenges.

But then, these obstacles are realities that they must come to terms with. Evidently, the challenges that stare them in the face include a limited amount of time, space, money and qualified people. At this point, one may wonder how these startups can maximize the little things they have to their advantage. They often ask, “How do these startupreneurs tackle these daunting challenges to stay competitive in their industries?” Well, capacity building is the answer.

Understanding capacity

Without mincing words, they can grow by simply developing their capabilities around those challenges. First and foremost, what is capacity? Put simply, capacity is the maximum amount or volume of things that something is capable of holding. This definition is very straightforward. The question now becomes, “How does one boost his capacity to grow his business?” If you also seek an answer to that question, this guide will walk you through how you can achieve that feat.

4 key capacity increases that lead to business growth

We have discussed some time-tested approaches that you need to consider below.

1. Time

According to a Wall Street Journal report, most office workers waste 40 per cent of their time. If that is not worrisome, then what is? Come to think of it, how do we relate capacity to the time context? Here’s the explanation: We all have 24 hours in a day, meaning that what you do with it is entirely up to you.

One thing is certain, no one gets a little more than 24 hours in one day. So, optimizing your capacity in the context of time means accomplishing your daily tasks to achieve a desired result.

Also Read: 10 mistakes that can kill your e-commerce business

To make the most of the allocated amount of time, you must ensure that your body is given the right treatment. Just like your machines need periodic maintenance to operate optimally, your body needs rest, good food and workouts to do the same. Also, a healthy brain assimilates and processes information at an amazing rate.

Given that your brain never gets a rest, you have to deliberately give it one. In her study, a researcher at the University of California, Sara Mednick, stated that those who often get naps are more likely to be more productive than those who do not. Therefore, adequate time management is important.

2. Money

Apart from proper time management, another capacity that you must learn how to work around is money. While we are so used to the cliché that money is a tool that boosts businesses, one thing nobody tells you is that money may also ruin it. Hence, being on top of your game when it comes to money management is critical to taking your company to the next frontier. Yes, money is the lifeblood of every organization, so you need to make more of it. In the quest to ramp up your revenue, there are certain details you must pay attention to:

• Create a proper budget
• As your cash flows increase, consider getting experts to help manage your revenue
• Weigh the option of engaging private investors. Venture capitalists, for instance, give startups all they need to prosper under certain terms and conditions.

When you have an eye on these intricacies, you are evidently scaling the positive vibes that money brings. In turn, the outcome is growth in all ramifications.

3. Qualified people

Having amazingly creative people in your employ is a blessing, but having the knowhow to manage them could be challenging. Do you know why? That’s because your competitors are probably asking them to quit your company for theirs. Not to mention the fact that they would even pay higher than you do. So, you must learn to build and manage a team. With that said, develop the right social skills to work with people as talented as you are. Here are a few notes:

• When you delegate tasks, you are buying back your time
• Develop an organogram and ensure that roles are defined
• Make creativity a watchword to get your staffers to think out of the box
• Appreciate and motivate them when they do something extraordinary.

Also Read: 3 lessons I learned as a student entrepreneur

Notice that employers reward results and not necessarily the efforts. However, you should show some appreciation whenever the desired result isn’t achieved despite the concerted effort put into a task. When you manage your workers well, the sky is going to be your starting point – not your limit.

4. Space

What comes to your mind when you hear a businessman mention space? Most times, space goes hand in hand with supply. As a startup in the real sector, you must be wary of not having enough space that can warehouse more than the order limits of your current customers.

For instance, if you cannot boast of space that can hold up to 10,000 units of your product because your current demand sits at 5,000 units, then you have something to worry about. You should have a rock-solid supply channel that can supply you enough raw materials to cater for contingencies.

Also, there should be a backup supplier that can create a safety net for more raw materials and consider doing a time/size analysis. This analysis will help you understand how possible it is to cater to such demands. Additionally, weigh the option of running a second shift.

Final thoughts

You may have a vision and well-articulated strategies for translating your vision into reality. However, lack of experience is still a problem. Given that you are in uncharted waters, you find it extremely difficult to translate your strategies into practical realities. Well, this is often the case even though they appear logical and practical. In a similar vein, working for someone is one thing, managing your own startup is a different kettle of fish.

Also Read: How to bulletproof your business against lawsuits

But then, we have taken some time to explain some hitches that you will definitely face and how to tackle them head-on. The truth is, every organization has its hurdles, and your ability to overcome them or not allow them to overwhelm you will ultimately determine whether your business will become a roaring success or colossal failure. But in this piece, we have outlined crucial steps that you must take to make your firm a success story.

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e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

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Want to help customers find your platform, buy your stuff, and keep coming back?

Many first-timers think that launching an online store gives you the ability to sell products, but it does not mean that you’ll sell products from the start or the very first day of launching your store. If you want potential customers to find your product and purchase it, you’ll have to avoid the very common mistakes that every beginner makes most of the time.

1. Choosing the wrong platform

The very first mistake most of the beginners do is choosing a wrong platform.

Setting up an online store is a double-edged sword. Startups repeatedly get confused in choosing a platform for their e-commerce website, as it all depends on the business requirements and user experience goals. For inexperienced owners, migrating platforms can be a pain, so choose a platform that has the power to grow along with your business.

2. Underestimating the importance of design

As a study in 2016 conducted by the industry’s top SEO companies mentions that “a website ranks higher if their average bounce rate is low.”

Website design directly impacts the customer engagement on how well or poorly the site is built. If the customer doesn’t easily find the products they are looking for, they won’t buy your products or won’t visit your site again. This is why a website design is as vital as what you are selling.

Some of the most important design elements you need to consider while designing the website are navigation, checkout, product search, and customer support and post-purchase.

3. Not optimising the site for mobile

Mobile is the future, and ignoring the mobile audience may prove disastrous for your business. M-commerce is now one of the “in” things because more and more people are buying or searching from their mobile devices.

A survey conducted in 2017 on e-commerce sales done by mobile devices in the U.S was 34.5% which was $157.02 billion, and in 2018 it will increase by 32.7% to reach $208.29 billion.

A responsive design compatible with small screens can be considered as a necessity for every e-commerce site nowadays. You can’t afford to neglect optimisation of your e-commerce site for mobile devices because the feel and look of the mobile sites play a huge role in impacting & converting the visitors to purchasers.

4. Not paying much attention to retargeting

If you think that your visitor would buy on the first visit, then you are wrong. As per Adroll, on average 98% of people who normally visit your website for the first time won’t buy any products. That is one of the reasons which make retargeting really important for shopping cart recovery.

Retargeting campaigns can nudge leads closer to conversions, encourages repeat purchases, increase odds of purchases, helps to upsell to existing customers, and much more. Retailers are already doing this in various ways, which includes personalizing an offer for a specific time period.

Retargeting will also help you to take care of the relationship with your customers and will generate engagement on your website and convert that engagement into sales too.

Also read: 3 lessons I learned balancing a successful e-commerce business with a full-time day job

5. Not maximising social media

Leveraging social media to target buyers is the thing right now for e-commerce business, and if you are not doing this, then you are making one of the biggest business mistakes. Promoting a business or products on social media is a serious task in order to get more visitors to your online business.

Social Media platforms like Instagram and Pinterest can work as a catalog of your products, where people can share their favorite products with their followers. On the other hand, Facebook and Twitter work as a valuable promoting platform to spread a word about you and your business. One more thing is that don’t forget to keep a social sharing button on all your product pages.

6. Not targeting the right audience

It can turn out dangerous for your business if you don’t have a clear idea of who your target audience should be. It is the first step to getting noticed online. If you can identify and understand yours and your customers perspectives, it will become really easy to create a message according to their needs.

By having a clear knowledge of your target audience, you’ll be able to reach out and market your products correctly. You can also (with time) get to know their interests, their needs, and what motivates them so that you can plan your future marketing strategies accordingly.

7. Not having a proper marketing plan

Not having a proper marketing plan can be fatal for your business. A marketing plan can chart and guide you for the perfect promotions of your business. If you don’t want to face low customer volume, budget problems, and closure of the business, then having a proper marketing plan is necessary.

Even after having the right product and audience, your online store could still fail if you do not have a proper marketing strategy in place. Even after a perfect product in hand, if you are unable to tell people about it, you might end up being lonely.

The marketing plan here that we are talking about includes a flawless promotion strategy, effective tracking mechanism in place for all your promotional activities & a marketing budget,.

8. Neglecting Speed Optimisation

You visit a website, the page takes a hell lot of time to load even at 4G speeds. Would you visit that site again? NO, right? Shoppers browse multiple pages at a time, they are impatient, they keep their eyes on 2-3 different websites at the same time. DO NOT keep them waiting because of page load speed, it might be a problem for your e-commerce site.

Statistics say, “Every one second delay in site load time can decrease your conversion rate by 7%”. By having a slow site speed, it not only affects user experience but also affects rankings in search engines, and bounce rate too.

According to the survey conducted in February 2018, the average page load time should not be more than 3-4 seconds.

9. Lack of Payment Options

Many e-commerce sites provide payment by only MasterCard and Visa or paying through their PayPal accounts. I might only have the AmEx or Discover, or maybe I don’t wish to pay using my PayPal account, what do I do now?

Always, always, provide a range of options for your buyers to choose from. Why repel customers from the payment page & let them go because of a small little mistake from our side? Keep options open, provide COD also as a payment option, and don’t give them any reason to go.

10. Not Providing Shipping Options (or Free Shipping)

It’s a fact that people love freebies and you can’t deny that fact. If you want to gain more sales conversion from your e-commerce site than providing a free shipping option could be beneficial (of course on a minimum order, we do understand your side too!).

If you don’t wish to have free shipping as an option, keep the charges minimal or negligible for a buyer. Don’t let the shipping charges be unexpected that leads to an abandonment of the shopping carts. The average shipping rates are considered between $5-$7.

According to a survey, about 73% of the buyers considered free shipping as a crucial factor in purchasing a product. So having this option can improve your sales significantly.

Conclusion

Running a successful e-commerce business is not an easy task, you’ll be making mistakes in your journey, but by considering the basic mistakes we mentioned and working over them will definitely make your way easier for a profitable business enterprise.

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This article was first published on e27 on August 28, 2018.

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Photo by Laura Marques on Unsplash

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All GoGetters are verified and trained before being a part-time dispatcher, personal shopper or promoter for an event

GoGet, a community platform for part-time help that connects people to verified part-timers called GoGetters, has won the UNCDF B40 Challenge at MyFinTechWeek 2019, which was held in Kuala Lumpur.

The UNCDF B40 Challenge, organised by Financial Innovation Lab Malaysia and funded by the Metlife Foundation, was aimed at finding solutions that could drive usage of financial services by lower and middle-income groups in Malaysia (or the B40 population) beyond access to bank accounts.

Financial Innovation Lab in Malaysia is in collaboration with UN Capital development Fund (UNCDF), Bank Negara Malaysia and Malaysia Digital Economy Corporation (MDEC).

GoGet plans to pilot auto-savings and on-demand insurance for gig workers with UNCDF.

The local startup saw the opportunity in the market to serve their workers beyond providing job opportunities but also by helping them utilise their earnings to improve financial well-being.

Also Read: GOJEK, Astra launch all-in vehicle maintenance service GOFLEET

The firm claims to have impacted more than 10,000 GoGetters to earn with a smartphone. GoGet is in major cities outside Klang Valley, namely Penang and Johor Bahru. All GoGetters are verified and trained before they can start claiming jobs such as being a part-time dispatcher, personal shoppers or even as their part-time promoter for an event.

About 75 per cent of Malaysians find it hard to get RM1,000 cash for emergencies​. As part of a pilot project, GoGet partnered with Pod, a goal-based savings app, to allow GoGetters to save their earnings that they received from GoGet with a click of a button. With the solution, GoGetters were able to save any amount anytime, track their progress, receive cash bonuses and cash out instantly if they need. By utilising the GoGet platform, gig workers were able to surpass the savings statistics of the average Malaysian. Full time GoGetters were capable of saving RM1,000 in just 2 months!

“​Today, many people who belong to the B40 segment earn on a job by job basis. However, traditional banking and financial products recognise only those with fixed monthly payslips. There is a large portion of Malaysians that don’t have monthly payslips and these people need to be included in our financial economy,” ​said Francesca Chia, Co-founder of GoGet.

“Malaysia is rapidly proving to be a fertile testbed for fintech solutions and products. MDEC is primed and working with key players to refine Malaysia’s unique proposition as a dynamic ideal hub from which Fintech companies will be able to launch and serve different markets. It is wonderful to see the innovative spirit behind these solutions, added  Surina Shukri, CEO of MDEC.

 

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In addition to MDI Ventures, we also have updates from OYO, WeWork, and SoftBank

MDI Ventures launches an office in Singapore – DailySocial

Indonesian venture capital firm MDI Ventures, which is backed by state-owned telco Telkom Group, has begun operation of its Singapore office, DailySocial reported.

The Singapore office was founded in April and has secured operational permit from Monetary Authority of Singapore (MAS).

It will be led by Shannon Lee, former Lead of C31 Ventures, a corporate venture arm of Singapore-based property giant Capitaland.

MDI Ventures has invested in startups from 10 countries.

Ahead of IPO, WeWork CEO reportedly cashes out over US$700M – The Wall Street Journal

WeWork CEO and Co-Founder Adam Neumann has cashed out more than US$700 million from the company ahead of its IPO, The Wall Street Journal reported.

The report named the size and timing of the payouts as “unusual” as founders “typically” wait until after an IPO to liquidate their holdings.

It is made through a mix of stock sales and loans secured by his equity in the company.

The report also stated that the CEO has already set up a family office to invest the proceeds, and has begun hiring financial professionals to run it.

Also Read: Indonesian digital payment startup Kredivo secures financing from Telkomsel’s VC arm, MDI Ventures

SoftBank’s Seoul unit raises US$270M for early-stage investments – Reuters

SoftBank Group Corp announced that its Seoul-based venture capital unit –that focusses on early stage investments– has raised a KRW317 billion (US$270 million) fund, Reuters wrote.

Expected to be closed within the next six months, the fund included South Korea’s National Pension Service as an investor.

OYO Founder to invest US$2B to triple stake – Bloomberg

Oyo Hotels and Homes Founder Ritesh Agarwal is set to invest US$2 billion to triple his stake in the startup, according to a Bloomberg report.

The company stated that Agarwal will buy shares from existing investors Lightspeed Venture Partners and Sequoia India, which will remain backers of the startup.

Another source who asked not to be identified said that the deal will value Oyo at about US$10 billion and raise Agarwal’s slice of the company from 10 per cent to 30 per cent.

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Image Credit: Bna Ignacio on Unsplash

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The tech hub will focus on enhancing its AI, Machine Learning capabilities, and accelerating its product development and micro service capabilities

CXA Group, a Singapore-based AI platform for health, wealth, and wellness choices, announced today it will set up the CXA Tech Hub in Ho Chi Minh City, Vietnam.

The initiative is a part of CXA’s expansion of its technical capabilities to support its products and health ecosystem.

The company said that the tech hub will focus on enhancing its AI, Machine Learning capabilities, and accelerating its product development and micro service capabilities. The firm claims its services are serving more than 400,000 employees, Fortune 500 companies, and partners across 20 markets.

Also Read: GOJEK, Astra launch all-in vehicle maintenance service GOFLEET

Rosaline Chow Koo, Founder, and CEO of CXA Group said: “Setting up a tech hub in Vietnam provides us access to a large talent pool so we can focus on building the technology.”

CXA offers a self-service platform that allows employers to give their employees access to a wide range of health, wealth, and wellness offerings, personalised based on the individual’s health and life-stage data. This allows employees to draw down on duplicate insurance policies provided by their employers or spouse’s employers and use funds that are then released into the platform’s e-wallet to increase the balance in their e-wallets, and to purchase these offerings with cashless transactions.

As part of its health ecosystem, CXA has integrated directly with clinics, giving clients and partners a savings of up to 25 per cent on outpatient costs.

To lead the tech expansion, CXA brings Thorsten Maus as Head of Information Technology. Maus has track records in building tech teams and platforms for e-commerce, payment, and financial companies and will oversee CXA’s Tech and Development teams both in Singapore and China, as well as the various CXA tech hubs across the region.

In the past, CXA Group was known to raise funding from Eduardo Saverin of Facebook in 2017 and EDBI in 2017, and the recent one in March 2019.

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In the latest edition of our agritech startups series, we take a look into what startups are doing in the kingdom

After Singapore, Indonesia, and the Philippines, we are looking at agritech startups in Thailand.

Like in many other Southeast Asian countries, the agriculture sector plays a crucial role in the country’s economy. A Bangkok Post report stated that the value of rice traded in 2017 was THB174.5 billion (US$5.6 billion), which is around 12.89 per cent of all farming product.

The report stressed that with this figure, farmers in Thailand should have been wealthy as a consequence, but many issues arise instead, including the farmers being entangled by debts.

To save these farmers, many startups in the country are looking at ways to improve their farming practices and –eventually– the farmers’ livelihood.

The following is a list of agritech startups in Thailand as taken from the e27 startup database.

Also Read: Indonesian agritech startup TaniGroup raises US$10M in Series A funding round

ChikChic

CHIKCHIC aims to improve the livelihood of chicken farmers in developing countries by using IoT and ERP platform.

In addition to smart farming features such as malfunction alert and conditional setting, CHIKCHIC also provides financial management features such as profit forecast and productivity tracking.

CW2GREEN Co.Ltd.

CW2GREEN builds a smart farming platform called BANDIBURRI, which monitors temperature, humidity, CO2, and other sensor data in a greenhouse through remote mobile devices.

The startup also provides smart radio and sprayer drone for agricultural operations.

FolkRice

Founded in 2015, FolkRice is an open brand that connects small-scale farmers to potential customers, enabling them to sell their products at the best price. The products that are available on the platform ranges from rice to fresh vegetables.

Also Read: Meet the 10 agritech, foodtech startups pitching for Future Food Asia’s US$100K grand prize

Happy Farmers

Happy Farmers aim to solve the problem of lack of market access for local farmers by launching an online marketplace to help farmers reach out to customers. The platform focusses only on organic and natural products and produces; it is part of its effort to promote sustainable agriculture in Thailand while answering a growing market demand.

Founded in December 2015, Happy Farmers has worked with more than 250 farmers and producers nationwide. As of May 2016, 50 of them are supplying more than 400 SKUs via Happy Farmers.

It also has a scheme that allows local farmers to hold shares in the company.

Talad

The Talad App enables farmers and farmworkers to connect to each other, eliminating the need for a middleman in the search process for contractors.

The startup also created an e-commerce platform for the agriculture sector, where they connect businesses to end-users to purchase goods and services for their fields and farms.

Trade Connex Limited

Trade Connex Limited builds an online SPOT market system for farmers to sell their crops online in real-time. It offers live auction, negotiation, and auto-matching trading modes for users, with special focus on products such as rice and rubber sheets.

The startup is working with the Thai National Bank for settlement services.

Also Read: Bruneian agritech startup secures pre-Series A funding from Cerana Capital

Verifik8

Verifik8 is a compliance service which monitors and verifies the environmental and social performance of smallholder farmers and aquaculture operators in Southeast Asia. It aims to engage stakeholders in agriculture and seafood supply chain to increase transparency and accountability.

Some of the major companies that are working with the startup include PEPSICO and Nestle.

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e27 calls upon Southeast Asian startups to update their profiles on our startup database.

Image Credit: Lisheng Chang on Unsplash

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