To what extent has having a social message in dating helped Bumble?

Having a business with a social message can have a great impact on society. As brands influence customer psychology, to have customers associate with your social cause is a massive win not just for the business but for the world. Companies like Lokai, We Wood and Skyline Socks to name a few are built around giving back to the society. But while these companies give back, to what extent are they effective in growing in terms of scalability?

Bumble was launched in 2014 by business mogul Whitney Wolfe Herd following her sexual harassment lawsuit against Justin Mateen, former co-founder of Tinder, whom she had dated on and off. 

As it turns out, the then 24-year-old female entrepreneur was not just fired from Tinder for being too young and “female” but also harassed through comments, emails and text messages post-breakup.

This was a bold move for Whitney, who decided to create Bumble, a dating app that allows women to make the first move with male users. 

This addresses the problem of creepy texting and downright dangerous harassment, which are the major reasons why a lot of people have always been sceptical about online dating.

The launch of this app was a powerful social statement globally, where it sent off a strong message about women empowerment, encouraging women to make bolder choices in not just dating, but in business and life!

This also led to a lot of celebrities to come out in support of the app, including popular Kardashian – Jenner mom Kris Jenner, actor, producer and filmmaker Priyanka Chopra; and supermodel and entrepreneur Karlie Kloss, to name a few. 

Everything seemed perfect for the brand, but then why did Tinder still manage to retain itself as the crowd favourite? 

More convenient

If you are one of the millions who have downloaded Tinder, you will notice that it is much easier and quicker to sign up on the platform and get going.

All it asks for is a short bio and your music preferences which are generally synced from your Spotify playlist. 

In comparison, Bumble asks you to answer a series of questions and build a more detailed profile, which can sometimes feel like a matrimonial page. For example, it asks you questions about liking dogs, smoking, drinking etc.

This can be because Bumble widely markets itself as an app for relationships, while Tinder is sometimes seen as an app for hookups (although, it is used for relationships as well).

Sexist

While I am all in for a dating app with an empowering concept, the sexist nature of the app, which only allows women to pick who they want to speak with can potentially carve down the entire niche of the market, making it more attractive to women. Male users can sometimes feel alienated by this system.

Although is a great social message, it may not be very good in terms of acquiring users. 

Tinder, on the other hand, has no such barriers and freely allows male and female users to swipe and make the first move regardless of gender.

Logo

Tinder’s logo is that of a red and white flame which represents passion. While the red flame is perfect for a dating app since it signifies the fieriness of new relationships. This is also more attractive to millennials and college students.

Bumble’s logo is yellow in colour with the image of a beehive signifying a queen bee and the busy nature of people.

 In a statement, Wolfe also said “But then we thought about it. Wait a second — Bumble—like the bee society. There’s a queen bee, the woman is in charge, and it’s a really respectful community. It’s all about the queen bee and everyone working together. It was very serendipitous.”

The yellow colour is more often associated with positivity and joy, which somehow cannot be related to the idea of dating strangers — realistically speaking.

While there are people who have experienced happy endings on dating apps, most of them are usually looking for casual relationships.

In terms of logo and aesthetics, Tinder comes out as the clear winner.

More features

Given the open nature of Tinder, the app has been successful in branching out to many fun and innovative features revolving around dating. For example, Tinder allows you to swipe on people from other countries while Bumble doesn’t.

However, Bumble has managed to create a reputation of safety and trust around it so much that it recently launched the Bumble Bizz platform which allows people to network professionally through the app. 

Only the feature is not in terms of dating.

Power is only there where there are users.

For an app like Bumble to give power to women users where there are lesser users compared to Tinder sounds odd.

One of the best examples to shed more light on this point is Bumble’s recent launch in India. India is one of the world’s most highly populated countries. But it is also a country which is considered unsafe for women.

Bringing in Bumble’s feature would be more than perfect, but just when that happens, Tinder decides to introduce a new feature in India, called “My Move”, which is similar to Bumble’s feature where it lets women make the first move.

On top of that Tinder has confirmed that it would begin to test a new feature that will allow women to choose when to start a conversation, rather than have it as a default setting like Bumble.

Being the current more popular app in India, Tinder has clearly kept up with trends and keeping an eagle eye on competition has proven to be beneficial for the company.

Conclusion

In conclusion, the point is that while Bumble sends off a great message, users care more about the convenience, easiness of the process — and this leads to increased usage and signups as there are more people to swipe on. 

This can be an important lesson for businesses that, it is not just important to have a socially responsible message but also a scalable, user-friendly business model.

And even though Bumble sends out an important message of feminism and women empowerment, Tinder sends off an even greater message – Equality.

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Businesses need to create different environments with a different balance of security and convenience for different processes

The boundaries between the personal and the worker are blurring more and more. People often spend more time in the office than at home.

At the same time, about a quarter of employees work remotely. We believe that in the modern world the perfect balance between life and work is generally unattainable.

Due to the growth in digital data, there is no longer a clear separation of which tasks to perform at work and which at home.

In both personal and professional life, we rely heavily on social networks, email, digital documents, and shared folders. As our recent study showed, chaos reigns in the management of corporate records and credentials.

Death balance between work and personal life

Working from nine to five is not so bad.

Nevertheless, this approach is already outdated. Now it is welcome to linger a bit – for the sake of important meetings, meeting tight deadlines, and even corporate parties. Millions of people recycle to cope with their tasks.

Adapting to modern conditions, employees often mix work and personal life: they solve household issues at the workplace and vice versa – they finish work from home.

Also Read: The curious case of the cybersecurity skill gap

Many even have a removable set of clothes in the office. What is worse digital data? Access to the right information both from home and from work makes life easier.

There is a big problem with this desire for convenience: careless handling of corporate data.

Employees who store them on personal devices are not always able to ensure the security of this information unless they use VPN Chrome browser extensions. Easy access to data puts them at unnecessary risk. For a company, this can have serious consequences.

Companies must manage data

While employees are struggling with personal and corporate information, companies are racking their brains in questions like protecting growing volumes of data.

As our study showed, 80 per cent of employees do not even consider that restricting access to work letters, files and documents are their direct responsibility.

Personal and payment data, authorization codes – these are just a couple of examples of confidential information necessary for the effective work of the company.

Also Read: From meditating to delegating; how I manage work-life balance as a startup founder

Staff do not always safely store this information. Just 56 per cent of employees regularly delete obsolete letters, and only 34 per cent get rid of old files on hard drives.

Digital mess becomes an even more serious problem when information is stored in the cloud or public folders, where it is more difficult to control.

We add here the constant growth of data volumes, and now – managing corporate information is becoming extremely difficult. But it still needs to be protected from prying eyes!

For example, if an employee can accidentally stumble upon information about the salary of colleagues, a hacker can also find it.

To ensure secure data management, it is necessary to involve employees themselves in solving information security issues.

Only then can a new corporate culture be formed in which each participant will be responsible for data protection and help colleagues do the same.

Therefore, it is extremely important to train personnel in the basics of cybersecurity, communicating to people the significance of the problem and their role in solving it.

As a result, employees will learn to manage information more efficiently – both corporate and personal.

How to relieve the pressure?

It seems to us that the solution to the problem should not consist of reducing digital clutter per se. The catch is rather in insufficient personal responsibility and inability of people to choose and use different types of environments for different purposes.

We are all different. For example, older people are less willing to share their passwords than youth — especially those who are too young to be responsible for their actions.

It’s more convenient for some employees to work in an organized space, while others do more in the middle of a pile of papers or files (and this is not a mess, but just a different working environment).

You should not give up all efforts to install corporate applications on personal devices (which is difficult, and in some countries, it is completely impossible) or attempts to change people’s habits with the help of intimidation.

Also Read:  Ensure a balance between building your product and building the venture: Snapcart CEO

It’s even more important to explain to people the difference between the environments in which they communicate with other employees and the environments where it is possible to collaborate with third parties, whether they are contractors or personal acquaintances.

Everyone can clean up their home. However, a common “home” – an office workstation or a cloud solution – should be convenient and safe for everyone. Here you can not do without the universally accepted rules and understanding.

And, of course, someone must control how these rules are implemented so that the habits of employees do not harm the business and do not infringe on the interests of colleagues.

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Victor Chua explains why he is so bullish on “female-focussed economics”

For more great episodes, subscribe to the e27 Podcast Network. 

This week’s special guest is Victor Chua, managing partner of Vynn Capital.  Victor was formally the Vice President of Investments for Gobi Partners and managed two Southeast Asia focused early-stage funds. Prior to that, he was with the venture capital arm of Malaysia’s Ministry of Finance, managing direct and indirect investments.

Some of his notable investments are Carsome, Travelio, Triip, Hermo, and Jirnexu. Victor has invested in over 20 companies in Southeast Asia, especially in Vietnam, Thailand, Singapore, Indonesia and Malaysia.

Also Read: Asia VC Cast with Simon Wu from Cathay Innovation

Together, we discuss why Victor is so bullish on “female-focussed economics” and why there’s so much more excitement in startups serving the female consumers. 

Also, he shares his insights on increasing trend in family offices & corporates making direct investments and why he believes it’s important to create more vehicles for corporates to bring complementary values for startups. 

Hope you guys enjoy this one!

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An informative guide for foreigners who wish to explore the business landscape in China

China offers entrepreneurs in various industries promising opportunities.

For this reason, many foreign entrepreneurs like yourself are starting businesses in “the world’s factory”.

However, you need to follow the proper steps to fully take advantage of the opportunities for businesses in China.

Without the proper preparation, your startup could end up failing before getting established overseas.

If you want to achieve a better outcome, read this post on how to start a business in China as a foreigner.

Conduct market research

To start a company in China as a foreigner, you need to conduct market research. While researching, you will determine what the best opportunities available are.

Keep in mind that businesses thriving in the United States may not be successful in China. Different products and services may be in high demand in “the world’s factory”.

Also Read: A China VC gives you the lowdown on the future of Chinese tech (Pt. 1 )

You need to identify these products and services to achieve your entrepreneurial goals and earn a profit.

During this process, you should also learn about the “barter economy” and how it affects the market.

If you complete market research well, you will choose a promising product or service to sell. In turn, you will succeed in starting a business in China as a foreigner.

Choose a business structure

After you decide on a promising product or service to sell in China’s market, choose a business structure.

In China, you have four options to choose from. They include a joint venture, representative office, a wholly foreign-owned enterprise (WFOE), an umbrella company.

If you set up your business as a joint venture, you declare that you will run it with a local partner.

The representative office option does not yield any revenue because it is strictly for communicating. WFOE businesses take longer to set up than other options.

However, they provide entrepreneurs with full sovereignty on their businesses, making the extra time worth it for some foreigners.

Lastly, umbrella companies do not actually create structures in China. Determine which option would suit you the best to start and scale a successful business in China.

Pick a promising location

Moreover, entrepreneurs need to pick promising locations to launch their startups in China. The best way to choose a location is to travel there in person. Then, you can experience the areas first-hand.

Consider your transportation and logistical needs when visiting so that you can make a well-informed decision.

Additionally, you should research the culture before traveling to China for the first time. This is especially crucial for foreign entrepreneurs planning to network.

Also Read: A China VC gives you the lowdown on the future of Chinese tech (Pt. 2 )

If you accidentally disrespect a potential investor, customer or employee, you could create a bad reputation for your startup before it even launches.

Guarantee yourself success by not only picking a promising location for your business but also making a good first impression when you travel to China.

Then, you will succeed in starting up your company.

Gather the necessary documents

Foreign entrepreneurs also need to gather the required documents to launch startups in China.

These documents include Articles of Formation certified by the Chinese embassy, copies of your investors’ passports and bank references.

You also need to supply a business scope, registered capital, copies of your letter of authorisation and your new office address in China.

Furthermore, prepare copies of the Chinese legal representative and a resume as well.

You will need all of these documents to legally start a business in China as a foreigner.

Wait for government approval

Finally, you need Chinese government approval to start conducting business. Typically, foreign entrepreneurs hear back from the Chinese government within two to three months.

However, it depends on the size and location of different projects.

If you plan to set up a new business in a big city, it will likely take longer to receive notice from the government. Additionally, more extensive projects usually call for negotiations.

Therefore, entrepreneurs trying to start large projects in China should brush up on their negotiation skills to achieve their startup goals.

Regardless of the size of your project idea, you need government approval before you can officially start your business in China.

Entrepreneurs jump at the idea of doing business in China, which is also known as “the world’s factory”.

To take advantage of the possibilities the country offers, you need to determine what the options are through market research.

Then, choose one of the four business structures.

Travel to China to select a promising location for your startup, brushing up on your culture knowledge before departing.

Also Read: How China is outperforming the US and Europe in technology and innovation

Gather the documents the government requires foreign entrepreneurs. Lastly, wait for government approval and prepare to negotiate terms.

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The history of communication has a profound impact on the way we function as a society today

All businesses market themselves in one way or another because they want their target audiences to choose their products or services over a competitor’s.

Marketing is more than just that in the modern world, though. Not only do customers and clients want to purchase business’ products or services – they want to align with the business’s journey, mission and vision.

Marketing mindsets have not always been this way. So, how did we go from accepting services from nearby vendors to choosing from a vast amount of service providers?

And when did we decide that a business’ journey, mission and vision were essential aspects in the decision-making process?

Well, there’s a history of marketing for businesses, and it starts with word of mouth communication.

History of marketing communications

Word of mouth communication

Before printing supplies were utilised for marketing purposes, word of mouth reigned as the supreme marketing tool. The factors that made a business unique or credible had to be relayed verbally.

People couldn’t go on Yelp or Google to review a business or worker. They heard about a business – and peoples’ experiences with that business – by communicating face to face with friends, family and colleagues.

Also read: 3 essential crisis communication strategies every entrepreneur should know

When word of mouth communication was the primary way of delivering information, it was likely only a handful of people in the area were skilled to complete a task.

So, there wasn’t an extreme demand for people to prove their worth to a vast amount of people because the business was already theirs.

Word of mouth communication is advantageous for directly receiving messages, understanding who the message is intended to reach, clarifying information on the spot, as well as free marketing for the business.

On the flip side, the cons of word of mouth communication concern the possible inaccuracy of information etc., difficulty reaching a wide amount of people, coming to a standstill of interest and engagement and it’s not easy to measure.

At this period in time, business owners and merchants needed tangible ways to market themselves for a profit. In response, print communication was utilised for marketing.

Print communication

Years ago, print resources were more popular than digital platforms.

By this time, there was a reason to purchase a place in the newspaper for your business ad, there were grounds for posting flyers around town, and there was justification for handing out business cards for people to retain your contact information.

It’s all because there was competition, and proximity was no longer the biggest factor when choosing a business to buy from.

Although, newspapers, flyers and business cards were posted and handed out among audiences that weren’t quite targeted to the highest potential.

With numerous corporations competing for the same peoples’ business, business owners had to give those audiences a reason to choose them.

Businesses had to come up with ways to showcase the offerings of the business in a 2D format. Without someone there to explain the benefits of choosing one company over another, it was left to the consumer to analyse information and make a choice on their own.

Positive aspects of print communication include the ability to take marketing materials with you, targeted marketing with strategically placed advertisements and a loyal readership of publications.

Conversely, the negative aspects of print communication are that printouts can be easily ignored, tossed to the side or thrown away, there is limited readership of print communication channels and print quality is not as high as digital displays.

So, our marketing tactics could be improved. Thankfully, the internet was created, and social media platforms were developed for digital social interactions.

Digital communication

Now that we live in a digital world, businesses are discovering how critical it is to involve itself in a variety of digital platforms, including social media.

Social media isn’t only for business, though. The reason businesses started creating profiles on social media was to reach their audiences.

Not only are the online platforms showcases for your business, but they entice audiences with visual and audio content.

Today’s competitive market requires businesses to uniquely position themselves to attract people to give them their business.

Digital communication is excellent for reaching a lot of people in your target market, cost-effective marketing, and measuring the success of your marketing efforts.

Unfortunately, involvement on the web can put users at risk of privacy and security of the technology being used. Public feedback can be negative and there is a high amount of competition.

Today, digital marketing is arguably the most accessible forms of marketing. Millions of people communicate digitally across types of social media platforms.

Present-day implications

Word of mouth communication

You can’t control what every customer says about your business, but you can give them a reason to speak positively on your behalf.

Word of mouth, while not a form of marketing to solely rely on, is still an important aspect of marketing. People trust their friends and family members to give them an honest account of their experiences.

Drive conversations by bringing up relevant company achievements and recent projects.

Print communication

Print communication is a form of visual communication, and the purpose of marketing through visuals should be to turn the reader into your customer.

Some print materials are handed to people. Others sit on tables or other platforms where interested consumers can grab them on their own.

No one is there to explain what your text means, so you have to relay your message in an understandable, two-dimensional way.

Additionally, your business’ message should be represented consistently across all print forms.

Interpretation is up to the viewer, but it’s your responsibility to direct and capture their attention using thoughtful marketing strategies.

Also read: Effective communication is key to startup growth

Some business owners grab viewers’ attention by including eye-catching visuals. Others exquisitely describe their offerings with text.

Combining the two is a sure way to grab the attention of your target audience. Just make sure to remain consistent across your marketing materials.

Digital communication

Your business’ interaction online plays a big role in the overall success of the company. These platforms are too critical for businesses to engage on to skip signing up for them.

The target audiences you’re trying to reach is accessible. They’re looking for the best in the business. Show them why you’re the right business to choose!

Your commitment means increased publicity, increased engagement and increased wealth. What business owner doesn’t want that for themselves and their company?

Journey, mission and vision

Conclusion

From word-of-mouth-only times to the world’s digital transformation period, marketing one’s business has changed tremendously.

There are positive aspects and drawbacks to all communication forms, but using them interchangeably can have an impact on your digital marketing success.

Your business’ marketing tactics should be modernised to fulfil the needs of your consumer and ultimately boost revenue.

While your mode of communication may differ, your message should be consistent. What is it you want your consumer to know, and why should they choose you instead of the competition?

Also read: Beyond managing PR disasters, effective communications strategy ensures all stakeholders are united in achieving organisational goals

Drive your customers online, where they can interact with your company digitally. Encourage them to engage with your business on social media, and they will learn more about your business’ journey, mission and vision in the process.

Use your understanding of effective communication when marketing your business and persuade your audience to engage with your business in a modern way.

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

Image Credit: Louis Hansel

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Tips, from the perspective of a mentor and judge, on how you should make the best use of your time during a hackathon

Hackathons are awesome. In the short span of 36-54 hours, you and your team work tirelessly to solve problems and create amazing solutions.

Occasionally, promising solutions even spin off into standalone companies, e.g., teams that win Startup Weekend Singapore. Heck, even my first startup was conceived during a hackathon many years ago.

Interestingly, companies have also started organising hackathons as a way to hire, e.g., Grab’s AI for SEA (powered by Padang & Co), DBS’s Hack2Hire (powered by HackerRank), and Shopee’s National Data Science Challenge (powered by Kaggle).

In short, hackathons are an exciting part of the startup ecosystem not just to spur innovation, but to open up opportunities for people who may not normally have access to.

Over the years, I have transitioned from being a participant to being on the other end of the pitching stage as a judge and a mentor.

After my observation (and a bit of free time), I was motivated to write this guide in hopes of helping participants enjoy their sleepless weekends hacking away.

Who knows, you might also stand a chance of being in the top three or even find a job in your next hackathon?

1. Understand the problem

Let’s start with the most obvious tip. What does it mean to understand the hackathon’s problem? For starters, you should know what the challenge statements in the hackathon are if the hackathon is themed.

The next step is homing in who exactly will benefit from your solution/product.

Typically it’s not enough to have a top-level description of who you’re helping – you gotta know their persona. Identifying personas is something UX designers are very good at.

I’ve seen UX designers winning competitions from solely explaining how their solution transforms user journeys with a high-fidelity mockup.

As such, it’s often important to talk to the stakeholders involved in the problem. If the hackathon is themed, the organisers will usually invite individuals or representatives who can share pain points in detail. They might even be a roaming mentor during the hackathon.

Maximise your time and ask mentors the right questions, focus on their pain points rather than running solutions by them.

The chances are that you might over-optimise and create biases when you pitch a solution before you have an opportunity to understand the problem truly.

If the hackathon requires you to define your solution, it’s also important to make sure that you understand the problem inside and out by talking to more people, e.g. target users.

In addition, from my experience, the best teams (or at least the designated business person) know the problem that they’re trying to solve inside out and weaker teams struggle with understanding and articulating the same problem.

2. Check your ego at the door

Even when a team understands what problem to solve, they may not necessarily arrive at the same idea to solve it. A very common reason why teams don’t make it to Day 2 is when the teams fail to focus on a single problem, fail to arrive at an agreed-upon solution to tackle the problem.

Also Read: [Discussion] Are hackathons a waste of time? Are there better alternatives?

More specifically, conflicts occur when there are two (or more) people in the team try to dominate the direction of the team and insist that their respective idea is the best. This results in endless discussion with neither side budging. I have seen teams taking more than half a day to debate.

There are three ways to solve this:

1. If you find yourself the one trying to convince your team that your idea is the best, keep your ego in check and come to a compromise with the team. Commit to taking 1-2h to research the problem and everyone present their ideas. Whoever sounds the most reasonable wins.

2. If you find that your teammate is giving the team a hard time, consider 1). Otherwise, kick the teammate out if he/she continues to be a source of indecision and annoyance. Better cut your losses early.

3. Find a mentor as a sounding board and let him/her decide whose idea is the best. One of the roles of a hackathon mentor is to ensure that teams work well, and they do not end up disbanding over conflicts. Also, agree on just one mentor. Don’t look for another mentor just because your idea lost.

If it doesn’t work out in the end, consider disbanding altogether and find other teammates. It’s better than sticking it out with a discordant team and having a bad time all weekend. Sometimes, you gotta let go, y’know?

3. Get validation

Now that you’ve understood the problem on a deeper level, what’s next? A solution is not exactly a solution if no one wants to use it.

For consumer solutions, you can always call up a friend or two (or your village) and run it by them to see if it’s something that works. For B2B-centric solutions, there’s absolutely nothing stopping you from picking up a phone and harassing/engaging/asking people on LinkedIn.

Not only do you get to unbiased feedback, but you might also end up getting validation from your would-be users/customers. The only challenge is that you’d have to message hard because it’s the weekend after all.

For most of the hackathons I judge in, validation gives you extra points. I recall watching a pitch where a team reached out to large institutions, identified decisionmakers, and got a letter of interest. They won.

It’s really how hard you hustle for that “yes that’s something I want to use”.

4. Tell a story, not the product features

I see this happening very often with teams which are solution/product-centric. During the pitch, I often encountered teams that spent most of their time describing their solution and product features rather than how the solution solves a particular problem.

Take a pitch for the Grab app, for example. You can do it two ways during a hypothetical pitch:

1. Problem centric: “The Grab app helps users save time hailing a ride and ensures that they reach their location in time. This is in contrast to waiting by the roadside to hail a taxi without any certainty, or spending a long time queuing at the taxi stand.”

2.Product centric: “The Grab app lets you input your current location and your intended location and then contacts the nearest available vehicle to come to you. You can keep track of the car using the phone’s GPS. When it arrives, you get on!”

These two pitchers have almost the same number of words (45 vs 41), but one pitch is more meaningful. Teams often fall prey to the shininess of their product. Don’t let that team be yours.

But wait a minute. Does it mean that there’s no point in creating a product? Yes and no.

Sometimes, if the judging rubric does not involve a completely functioning prototype, it may be better to consider a high-fidelity mockup that shows the judges what you’re solving, rather than what you’re telling.

Also Read: Go-Jek launches a new hackathon to solve everyday problems in the lives of Indonesians

This evens the ground for non-technical teams. I have seen high-fidelity mockups beating fully functioning websites, by the sheer power of telling a good story and explaining how their solution tackles the problem.

5. Do your homework

During the pitching session, as a judge, I often ask teams whether they’ve seen any solutions out there doing what they proposed, i.e. competitors, and how and why their solution is better.

If they didn’t do their homework, they’d stammer a no. Good teams often do extensive research on the problem and can compare themselves to existing solutions.

It’s also prudent to anticipate questions from judges and prepare additional slides to answer those questions.

Show judges that you know your shit.

6. Practice, practice, practice

As a judge, it is very easy to tell whether a team is prepared or otherwise. Even when they’re tired, you can see the gleam in their eyes and confidence.

Pitching can be daunting since you’re essentially compressing 36-54 hours of work into a 5-minute pitch. Despite that, most of the time, I see teams practising their pitch on the last day, sometimes only a few hours before their pitching session.

Doing last-minute pitch preparation is a bad idea for a few reasons. Firstly, the chances are that you’re exhausted from working on your solution for the past 36+ hours. This means that it’ll be much harder to organise your thoughts in this tired state of mind.

Secondly, when you organise your pitch, you’ll start discovering holes in your idea which may not have been apparent at first. If you’re lucky, you can fix those holes.

If you’re not, these holes surface during the pitch and Q&A. If you don’t fix those holes, it will result in a subpar pitch which doesn’t do anyone in the team and the idea any justice.

Lastly, it’s very easy to develop nerves if you don’t practise enough. This is even truer if there’s no reliable pitcher in the team. Avoid pitching as a team and designate a single person to pitch; the time you spend moving from one person to another should be spent on presenting instead.

The solution to this?

Start early. Your pitch should be developed alongside your hackathon solution, the moment your team agrees on what to solve. This can (and should) happen on Day 1.

Also Read: Smart floating dome, zombie detector emerge winners at Sci-Fi Hardware Hackathon 2016

It’s never too early to start designing your pitch deck. This way, you’re continuously iterating your pitch as the idea is developed into a product. Another plus side is that the pitcher (usually the business person) is hustling along with the developer, which spurs greater team harmony and dynamics.

Good luck, and don’t fu-, mess it up

That’s all folks; this is my take on how participants can experience the spirit of a hackathon.

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These are 6 inevitable critical mistakes every company should be wary of making

 

Building an online presence is an essential step for virtually any company to reach its fullest potential.

Keep reading to find out what are those mistakes are and how to avoid them.

Mistake 1: not owning your space online

If you neglect to claim your business’s space online, you’ll be missing out on several benefits and potentially opening yourself up for trouble.

As soon as you can, set up your business’s website and social media accounts. Also be sure to claim your business’s Google listing, which, according to Brian Edmundson at The Balance, will improve your website’s visibility in searches.

Not claiming your space early on will make your business harder to find. It can also cause other problems; for example, dragging your feet on registering a domain name may allow cybersquatters to claim the name before you can. 

Another example of not claiming your space online could be the lack of skills when it comes to website building.

Also Read: 5 ways to monetise social media technology for startup success

But, with the latest platform such as Weebly and popular platforms like Wix, everyone can build a professional-looking website easily. 

Mistake 2: overlooking your website’s user experience

Have you ever given up on making a purchase from a website because it was hard to find what you were looking for, frustrating to check out, or simply because the website didn’t look trustworthy?

If so, that business lost money because they gave you bad user experience.

According to the Interaction Design Foundation, there are several key considerations to keep in mind regarding your website’s user experience. Here they are framed as questions that you can ask yourself while assessing your website:

Is your website usable? Users shouldn’t have difficulty using your site, either as a first-time visitor or a regular guest.

Is your website useful? Your website should fulfil a customer’s need. It should allow them to access your product or service easily.

Is your website influential? It should prod users toward making a purchase. This requires being both trustworthy and persuasive.

Is your website functional? This means your website doesn’t include frustrations like dead links or bugs.

Is your website’s visual design attractive? This is perhaps the most subjective of the categories, but features like overwhelming, auto-playing videos may make the site very difficult for a user to look at.

Keep these factors in mind while building and updating your website.

Also be sure to test your website on multiple platforms because according to statistic, 59 per cent of smartphone users favour businesses with mobile sites that enable them to make purchases easily and quickly.

So, the website that looks great on desktop computers may still need improvements to work well on mobile platforms, and vice versa. You can make use of Google Mobile-Friendly Test to make sure your website content fits perfectly on mobile devices. 

Mistake 3: not tailoring ads to devices

Like websites, ads must be tweaked so that they work on multiple platforms. According to Statista.com, 52.2 per cent of all web traffic in 2018 was from mobile devices, and that percentage has been climbing for years.

Also Read: Social media isnt childs play, its a vital marketing tool

That means if your ads are only tailored for desktop computers, the majority of viewers will receive a subpar experience.

Take the time to make sure your ads function well for both types of users, even if it means making two separate styles of an ad for each campaign.

Mistake 4: neglecting SEO

Your business may have a great product, an awesome-looking website, and a lively social media presence, but if you neglect search engine optimization (SEO), you’ll be missing out on countless potential customers. 

While choosing the right web host for your website can be the first step towards establishing a good SEO foundation, it involves many components.

In a nutshell, SEO boils down to improving your website’s visibility in search results. Emma Knightley, writing for the Digital Marketing Institute, highlights these as critical areas of SEO:

• Keywords are how customers will find your website. Using keywords well can make it much more likely your business will show up in search results.
• Content is necessary for both getting eyeballs on your website and keeping customers engaged. The more engaging and shareable your content is, the better.
• Backlinking is a method to improve your SEO by linking to external sites.
• Local SEO makes people in your business’s area more likely to find it when they search for businesses like yours nearby.
• Search engine marketing involves the use of paid ads to boost your website’s visibility.
• Increase the page load speed to reduce your bounce rate and encourage your visitors to stay longer on your site.

While many companies employ people who focus almost entirely on SEO, you don’t need to be an expert to make use of SEO’s basic principles.

Keeping SEO in mind as you build your online presence will go a long way toward attracting customers. 

Mistake 5: not synchronising messages across platforms

If your company says one thing on Twitter, another thing on Facebook, and the third thing on its website, potential customers will be confused at best.

At worst, they will abandon your company for one with consistent messaging.

It’s relatively simple to keep your messaging consistent if you’re the only person running all of the platforms. Just, double check your content before posting anything.

Also Read: Despite challenges, there is an untapped opportunity in Southeast Asias social media markets

However, if different employees are in charge of different platforms, make sure they’re on the same page about what information to release.

Mistake 6: having angry interactions

As your company becomes more active online, you may come across unhappy customers in the form of negative reviews or comments.

It’s a mistake to engage them, according to Social Media Today angrily, as that can damage your business’s reputation even more. Instead, try to remain calm and do what you can to appease the customer.

There is a chance you’ll win them back over, and either way, your business will come out looking better than it would from a shouting match.

Conclusions

It doesn’t matter if you want to start a dropshipping business or planning to immerse yourself in the affiliate marketing business. Having an online presence is the first step you should act on. 

Avoid these mistakes, and you’ll be well on your way to building a strong online presence!

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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.

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

Image Credit:  Will Francis

 

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Logistics and supply chain are dominating the theme this year, but there is also an increasing appetite for foodtech and related industry

As August draws to an end, e27 noted down some of the most notable seed funding rounds announced during the month.

Raising a seed funding round is monumental for a startup, as it signified the trust that investor(s) had in their idea and concept. Apart from that, seed funding rounds can also help us predict the upcoming investment trend in the Southeast Asian startup ecosystem.

This month, logistics and supply chain continued to become a popular theme this year with investments into startups such as AllSome and Logisly. The F&B industry also remains popular with investments into Ai Palette, Abillionveg, and Hungry Hub.

The popularity of logistics and supply chain industries among investors is strongly related to the rapid growth of e-commerce growth in the Southeast Asian region. At the other hand, F&B has always been known as a promising industry to invest into, as the old saying goes: People will always need something to eat.

Also Read: Singapore-based IoT startup HOMI SmartHome nets US$1.3M seed funding

Ai Palette
Funding: US$1 million in Seed Funding
Investor(s): Decacorn Capital, SGInnovate, AgFunder, Entrepreneurs First, individual investors

Using AI and Predictinalytics around Natural Language Processing (NLP) and Image Recognition for food and beverage manufacturers, Ai Pallete aimed to help manufacturers craft and launch new products by spotting and analysing emerging consumer trends. It plans to use the funding to focus on growing customers across multiple markets by fast-tracking product development to enhance its platform capabilities to be able to scale.

Abillionveg
Funding: US$2 million in Seed Funding
Investor(s): 500 Startups, 1/0 Capital, Blue Horizon Group, Calibre Ventures, family offices across Asia and the US, John Wood

Abillionveg is a community-driven review platform for plant-based menu items, packaged foods, and cruelty-free consumer products. It plans to use the funding to accelerate efforts in recruitment, technology, and community growing.

StaffAny
Funding: US$722,000 is Seed Funding
Investor(s): FreakOut Holdings, Inc, angel investors

StaffAny is app-based solutions that connect HR and operations in order to manage hourly workers, which typically is found in the F&B and retail sectors. It plans to support its growth and expansion plans with the investment.

Logisly
Funding: Undisclosed Seed Funding
Investor(s): SeedPlus, Convergence Ventures, Genesia Ventures

Logisly builds a platform that provides shippers with verified trucks services, complete with real-time tracking and digital PODs. It also provides trucking companies with a facility to utilise idle or vacant trucks and receive quick payment. The startup plans to use the funding to accelerate Logisly’s growth in the high potential logistics market in Indonesia.

Also Read: Here are the most notable seed stage funding rounds announced in July

StakeWith.Us
Funding: US$595,000 in Seed Funding
Investor(s): SGInnovate, LuneX Ventures

StakeWith.Us offers digital asset owners a secure, performant and reliable service to secure new decentralised Proof of Stake networks. The startup wants to use the funding to scale its team across Asia and expand its offering.

REALly
Funding: US$361,000 in Seed Funding
Investor(s): Huntington Partners

REALly offers a hybrid of project management, real estate e-tendering, and an open procurement marketplace. The seed funding will be used to further enhance its platform as well as develop overseas markets, specifically Malaysia and Indonesia.

Zowedo
Funding: US$200,000 in Seed Funding
Investor(s): Paragon Capital Management Singapore (PCMS)

The Zowedo platform allows busy professionals and anyone looking for lifestyle or home services to locate and discover services that they might need. The investment will help Zowedo speed up product development and scale both customer and vendor acquisition.

Hungry Hub
Funding: US$450,000 in Seed Funding
Investor(s): Expara, 500 Startups

This is the first funding that Hungry Hub has received after a period of bootstrapping, claiming to be profitable for the last eight months. The company said that the funding will be used to speed up on the restaurant acquisition process to 1,000 restaurants in an 18 months goal.

AllSome
Funding: US$1.94 million in Seed Funding
Investor(s): East Ventures

AllSome Fulfillment was established last year by Ng Yi Ying and Liu Yi Shu, who first met in 2012 when Ng was pursuing her Master degree at Tsinghua University, China. With this fresh fund, AllSome Fulfillment eyes Indonesia for its first expansion in Southeast Asia.

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Image Credit: Austin Distel on Unsplash

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In addition to fintech, travel and hospitality also remain a popular choice among tech investors in Southeast Asia in August

Just like the early-stage funding round compilation that we also published today, there are plenty of interesting takeaways that we can make from the list of August’s growth-stage funding rounds.

Travel and hospitality remain a popular choice among investors, with funding rounds into KiotViet (which included the participation of traveltech giant Traveloka) and RedDoorz (which has been competing heavily with OYO).

Fintech also remains a favourite with investment into P2P lending startup UangTeman and SME banking platform Aspire.

The following is the list of notable funding rounds that we have covered in August:

Uang Teman
Funding: First tranche of US$10M Series B funding round
Investor(s): Draper Associates, KDDI Open Innovation Fund, Global Brain

Indonesian P2P lending startup Uang Teman plans to make the final close of the Series B round at US$10 million, with the second and last tranche targetted for the end of October 2019. The startup wants to double down on growth within Indonesia.

99.co
Funding: US$15.2M Series B funding round
Investor(s): MindWorks Venture, Allianz X, East Ventures, Sequoia (India), and Eduardo Saverin

Property tech startup 99.co plans to use the funding to support its plan to build and extend its reach in Singapore and Indonesia. It also wants to launch in new markets and financial products relating to property.

Also Read: 5 leading Indonesian growth stage startups (that aren’t Go-Jek or Tokopedia)

RedDoorz
Funding: US$70M first close of Series C funding round
Investor(s): Asia Partners, Mirae Asset-Naver Asia Growth Fund, Qiming Venture Partners and International Finance Corporation (IFC).

RedDoorz wants to use the new funding to launch in new markets, scale technology, run customer experience projects, as well as to invest in people and marketing. It is also planning to use a “significant portion” of the investment to build a second engineering hub in Vietnam, to complement its existing on in India.

Carro
Funding: Additional US$30M to Series B funding round
Investor(s): SoftBank Ventures Asia, EDBI, Dietrich Foundation, NCORE Ventures, Hanwha Asset Management, Insignia Ventures, B Capital Group, Singtel Innov8, Golden Gate Ventures, and Alpha JWC Ventures

Carro wants to use the funding to further its expansion across Southeast Asia, starting with the acquisition of Jualo, an Indonesia-based online C2C marketplace platform.

Aspire
Funding: US$32.5M in Series A funding round
Investor(s): Mass-Mutual Ventures (MMV) Southeast Asia, Arc Labs, Y Combinator, Hummingbird Ventures, and Picus Capital

Founded in January 2018 by Andrea Baronchelli, former EVP and CMO at Lazada, Aspire aims to “reinvent SME banking in Southeast Asia”. The startup will use the capital to boost its financial product offering and strengthen local presence.

KiotViet
Funding: US$6 million in Series A
Investor(s): Jungle Ventures, Traveloka

KiotViet stated that it plans to use the funding to focus on business network expansion to all of Vietnam’s provinces and cities. It also plans to add on its leadership team.

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Image Credit: NESA by Makers on Unsplash

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Bitcoin has revolutionised the current economy and impacted the economy in tangible ways

Virtual currency Bitcoin that uses digital encryption for its operations was first introduced in the year 2008 by a pseudonymous group or individual named Satoshi Nakamoto.

In some way, Bitcoin is an alternative method to the global financial system. It has steadily worked its way towards dominating all aspects of the online community.

In Bitcoin, every transaction is recorded in blocks digitally that acts like a public ledger called “block-chain.”

Here, all the blocks are interconnected to each other through the use of hashtags and chronological order is formed, thus keeping security at a higher level.

Also Read: The differences between Bitcoin and Litecoin

From buying clothes online to purchasing a phone on credit, there is no financial transaction where crypto-currency cannot work better.

They have decentralised powers, and this is the reason why no institution or country can control it; also, it uses cryptography to create safer economies with top-notch privacy.

The most significant advantage of having these virtual “coins” or digital money is that it only exists in digital form as compared to conventional money transactions.

That is why many people have started using these bitcoins to buy goods and services. The money can only get tracked when it gets converted in cash form.

Now, banking sectors, corporates, governments, and investors have taken real-time interest in bitcoin, crypto-currencies, and block-chain.

Though experts and business to business managers are of the view that Bitcoin can have a real impact on the economy. However, it is still susceptible to know how bitcoin will shape the market and savings in the coming years.

Following are the ways how bitcoin aims to transform the world:

Eliminates the role of intermediaries

The first feature of Bitcoin doesn’t require any intermediary to step in for the transactions that occur.

The users themselves can verify the currency in a decentralised manner.

This has left banks to be wary as bitcoins eliminates their services.

The emergence of new markets and the removal of barriers

Bitcoin has opened doors for a new kind of market that unlike the current money market is controlled by no authority or person.

Cyberspace has risen as the authority to handle such disruptive markets.

Rather than having to convince the venture capitalists and financial institutions or banks for their prospective project, they can bypass the regulation and red-tapes through an ICO or initial coin offering.

Also Read: 6 private crypto alternatives to bitcoin

Through an ICO, a start-up can sell the portion of Bitcoin to backers to fund their project.

Access to a credit system

Bitcoin enables ungoverned access to a secure credit system as it is an unregulated currency that is based solely on data.

Also, Bitcoin does not require enormous fees for transactions done through it, which makes it much alluring to the users.

Complicated regulation

One of the potential challenges is that it facilitates the massive anonymous online marketplace where users get an option to buy illegal items like drugs without facing any legal action. And it has enabled many scams.

Governments are also concerned regarding crypto-currency that it helps people in tax aversion and tax evasion. Consequently, some countries have banned Bitcoin.

Separates transactions from a dollar

Cryptocurrency does not need to have any linkage with the USD. It is providing financial sectors with another way to participate in the global economy.

Enables more overseas transactions

More than 1.7 billion people in the world do not have a bank account, and some business does not work on the credit card payment system in few countries.

In such cases, bitcoin offers a way out to those people to engage with the global economy. It has a good impact on people living in countries around the world with weak economies.

A decreased assurance of authorised money

Since its inception, money has been used by the people in its paper or metallic form mainly. It is quite challenging to carry out all the transactions by everyone in digital form, as not all the people use digital means.

This way, the economy will witness a drastic change. Still, it remains susceptible to how bitcoin manages to keep its hold and replaces the current monetary system.

A lot of people are managing their bitcoin wallets, and have a full assurance that their virtual money enjoys a better level of security than real cash.

Environmentalism and the economy

Bitcoin gets minted on a sophisticated application software as well as hardware infrastructure system.

Producing bitcoin has impacted the environment in not modern ways, rather the servers used in the mining consume a lot of energy.

In response, environmental legislation has to get introduced to address energy consumption in regards to Bitcoin mining.

There are a lot of Bitcoin Plugins available on the web. With the help of those options, you can easily integrate Bitcoin into your ecosystem.

Conclusion

It is susceptible to whether there are potential harms or benefits, but Bitcoin has impeccably revolutionized the current economy, and it cannot be denied that it has impacted the economy in tangible ways. 

Also Read: Bitcoin dominance is reason to worry amidst crypto price plunge

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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.

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

Image Credit: Aleksi Räisä

The post A layman’s guide on how bitcoin is aiming to transform the global economy? appeared first on e27.