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Why our accents define our career growth and how to ignore that trap

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I have had many people through the course of my career, try to change my natural accent.  Essentially, not what I say, but the way I say it. 

Some well-intentioned employers did it with a view for me to ‘better’ my broadcast reports, as my accent cannot be categorised in any one natural box.

It has shades of my heritage (I am South Asian, from India), my roots (I grew up in Dubai, a melting point of different cultures) and my life experiences (studied in London, worked for multinationals all my life). Some others plain told me on my face that I have a South Asian accent which will not be understood by most. 

If I had listened to one manager in my early 20s, I would have never been a TV journalist. He basically told me that I had the face for radio and a voice for television.

Yes, it hurt. But it also made me reflect on how biases creep up at different times in our career. 

Accents equal intelligence?

Another former manager asked me to keep repeating myself as she could not understand my English, and that also got me reflecting on how our intelligence is directly perceived with our accent, and by corollary, how it defines our career path. 

Also Read: Managing the millennial workforce over coffee and culture

It is clearly not fair -some of the most intelligent people are not articulate or have challenges expressing themselves. Think Marie Curie, the Nobel Prize Winner for Physics and Chemistry,  who had to learn a new language in her 20s whilst she was studying in Paris to be taken seriously by her all-male peers.

And while most of us cannot boast a natural IQ as Madam Curie to help us get along in our professional life, or win two Nobel Prizes at that, we can only tend to adapt. So, just as a chameleon who changes its spots to suit its environment to survive, we unwittingly do the same. 

A very dear friend of mine pointed this out to me recently, when she said, I have started adopting more North American shades of vocabulary when I speak, a natural shift to my corporate environment. I had no idea I was even doing this. That is how subtle my actions were. 

But, do we really need to do this? One could argue if your work is good (or even excellent), then your accent should not be able to define your career prospects. In reality, biases are very powerful. 

Biases

You may be sitting in a meeting room with several other colleagues coming from different backgrounds, ethnicities with who are equally qualified as you, and you may start wondering why you are suddenly silencing your opinions. Why you are afraid to express yourself when you clearly know your stuff. Why suddenly this self-doubt creeps up.  

It has happened to me many times and I know the feeling only too well. At that moment, I enable others to take the lead, afraid of judgement both from others as well as myself and it is a very disempowering feeling. I know I can do better, I know I have what it takes but I allow my earlier experiences of people telling me about my accent, colour my present moment. 

Also Read: Netflix partners with Indonesia’s Ministry of Education and Culture to boost local film industry

Authenticity 

So, how am I dealing with this when my primary role is that of communicating? I am working on just being myself. Not the NY/London/Dubai/Delhi Prerna but the true authentic Prerna who knows who she is at her core and who leads by example, not by taking on the guise or crutch of some other persona.

That crutch will invariably be used at some time in the future, there is a lot of work to be done to undo the years of being judged harshly, but at least I am taking my first few steps towards it. 

In the process, I am finding myself to be more articulate, exceedingly confident in my abilities and more importantly, not feeling like I need to be someone else to further my career prospects. 

So, how do we start unpacking?

I am a big fan of listing thing, so here is my list of how I started my process:

  • Be true to the real you: There is a reason why you have come this far on the journey that is called life- it is because of the real you. Not the fake, inauthentic self who comes on momentarily and opportunistically. Take an hour off from work and really reflect on who you are, what you stand for and what you’re passionate about. The answer will come to you.
  • Remain pure: Does one person’s judgment really matter to you? Trust your gut on this one and let go off the negative comments like a lotus which lets the dirt fall off its petals and yet remains pure. Be that lotus. 
  • Stop judging: Just as you expect not to be judged, stop judging others who have different forms of communicating. Cut some slack to that difficult colleague as she may be having a tough day at home or may have a sick family member she needs to take care of. 
  • Fight the fakeness: If the company you are in is enabling others who are not as well qualified as you to get ahead primarily because of the way they speak or encourages sycophancy, then you are probably either going to be very unhappy (most days), will not feel fulfilled (all the time) and will probably not be true to yourself. During times of uncertainty, we all do not have the luxury of leaving, but if you do, then stand up for what is right for you. Your future self will thank you for sparing you the months and years of emotional misery. 
  • Upskill: We are not all perfect so go take that communications course or whatever tickles your fancy. I am a big fan of upskilling and am planning to take a course on general management later this year (will keep you posted on how it goes!). Your interpersonal skills will improve and you will learn something new. 

So, let us go conquer those naysayers, be true to ourselves and more importantly, be kind to each other. 

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, or like the e27 Facebook page and sign up for our upcoming webinar on how to manage founder’s burnout

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Why every startup needs to embrace video marketing in 2020

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Google Trends shows that inbound marketing has existed for a long time but only gained relevance in 2010. The whole idea of this marketing strategy has always been to promote brand visibility and gain customer interaction by sharing valuable content with your target market.

With more startups, business brands and digital marketers tapping into this trend, how does one stand out in the crowd?

While Pay-Per-Click (PPC) advertising is fast becoming obsolete due to the rise in blog competition, videos seem to have become the new wave.

Video marketing has become a desirable marketing tool among B2B and B2C brands as they have been found to be better engaging and adaptable. Reports by Wyzowl shows that 63 per cent of startups and businesses have absorbed videos into their promotion strategy. 

As a business owner, you should consider adding videos to your advertising toolkit. It is your best shot at levelling up to the strife out there.

Videos are vital to your startup’s growth as they have been found to be an essential tool for brand publicity and one of the major digital marketing strategies for startups that still work today. They are great for growing your brand network and clientele. 

Gone are the days where you would need to hire an entire media crew to produce high-quality videos. With the aid of good apps and software, you can create professional videos on your mobile device. 

Also Read: Today’s top tech news: SoftBank-backed Brandless shuts down, Aussie video platform raises US$8.8M

I will outline some reasons your startup needs to embrace video marketing.

Effective Storytelling

Videos are undoubtedly a more effective means of communication. You’ve probably heard the saying “A good product without a good story is like a good engine without a steering wheel”.

Videos are one of the best content forms to use in telling your brand story. They are said to be the consumer’s favourite content medium. 

Visuals easily appeal to our human sentiments and emotions. Writing a wonderful sales copy may be genius, but more than throwing pretty words around, you need to connect to the heart of your prospective clients to spur them to purchase your products.

This differentiates the awareness, consideration and decision stages of purchases. Written words are nice, but high-quality videos with good visuals and background music convey the message explicitly.

Improve brand awareness

What better way to make your brand know than to use videos. Videos are said to get more attention compared to other digital advertising mediums. According to a study by Optinmonster, videos increase brand recognition by 54 per cent. As the attention span of internet users continues to decrease, it reduces their ability to read long product descriptions.

They are more inclined to watch, like, comment and share a short video clip in split seconds just at the click of a button. You know what this means: more brand awareness.

Also Read: Today’s top tech news: India considers censoring Netflix, Amazon Prime Video

Oberlo postulates that video marketing will drive 82 per cent of global internet traffic. That is expected as videos are easy to consume. Videos display your deliverables to make them appear real and tangible to the buyer. 

Customers want you to show, not tell them what your brand is about. It doesn’t matter if they are Youtube videos or videos you embedded on your blogposts, the laziest buyer would rather watch them than strain their brain cells to read those pretty words about your brand offering.

If your video appeals to them, you will instantly get social shares. This increases your competitive advantage.

Expand audience reach

With more brands engaging via email, blogs, and social media, it is only wise that you seek for a means to stay afloat amidst the intense competition. Videos may be time, energy and capital intensive, but they are worth it. Video marketing increases your brand exposure to a larger target population.

Research shows that one-third of the activities on the internet involves watching and downloading videos. Over 5 billion videos are watched on YouTube every day with 53 per cent of the viewership requesting more videos. 

A single viral video may be all your small start-up needs to boost brand engagement. A classic case study is the Dollar Shave Club which grew into a billion-dollar brand from one viral video.

As of 2015, the video had over 22 million views. The brand is currently valued at US$615 million with a customer base of 1.1 million individuals. Who knows? Your startup may just be one video away from hitting the jackpot.

Also Read: In Video: Watch a robochef cook this Hokkien mee dish

Boost sales

The exposure gained from video marketing can be channelled into a sales funnel to increase conversion rates. The average internet user spends approximately 88 per cent extra time canvassing through a page with videos that improve the engagement on your website.

This means users will stay on your website longer than expected if there is a video to keep them engaged. You can capitalise on this traffic to generate leads and subsequently boost sales on your website. 

Do not undermine the power of videos in the buyer’s journey. It plays a vital role in the buyer’s decision-making process. Videos are said to increase purchase decisions by 93 per cent and brand engagement by 139 per cent.

Statistics show that eight out of ten people make a purchase after watching a product video. Lead generation can also increase based on the quality of your video content.

Now that you know how video marketing can be useful to your brand, consider including videos to your digital marketing strategy. If you want to launch your brand online, then think of making more videos. 

It’s okay if you are a sucker for web articles and blog posts, but integrating videos into your content plan could be the icing on the cake.

You can start your video marketing journey by creating product demos, customer reviews, vlogs, promotional and how-to videos, and upload them on distribution channels like your official social media handles, website, and email broadcast list.

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, or like the e27 Facebook page and sign up for our upcoming webinar on how to manage founder’s burnout

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How unique lending platforms boost small businesses in Southeast Asia

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In a joint report released recently by the International Finance Corporation (IFC) and SME Finance Forum, it was found that the global funding gap for small, medium and micro businesses amounted to US$5.2 trillion per year, with the East Asia and Pacific region representing 58 per cent of the global demand.

A massive figure for a massive market, but one that lies in a severely fragmented region with 11 countries, each with its own unique economy, infrastructure, culture and significant differences in terms of laws and regulations.

While the region has seen exponential growth over the past few decades, financial inclusion remains limited – with only 33 per cent of businesses having access to proper financing.

The SME and startup financing landscape in SEA

Worldwide, financial regulators are enforcing stringent laws on the lending/banking industry when it comes to business loans and lending, requiring specified amounts to be held in the capital at all times to cushion them against financial emergencies.

This has led to stricter risk profile assessments, especially when lending to startups or SME’s who typically can not show constant profits or afford to offer a lot of collateral, making them too “high-risk” to qualify

In SEA, SMEs employ half of the workforce and contribute between 20-50 per cent to the national GDP. These businesses have little to no resources and some lack even the most basic business skills, such as how to add a markup to products or filling out business loan applications.

Also Read: [Updated] P2P lending platform Investree buys stake in B2B startup Mbiz, to develop supporting infrastructure for SMEs

Several companies are stepping up to the plate with initiatives to educate and inform young entrepreneurs and SMEs while at the same time investing in flexible and lively cloud data storage strategies in order to provide more personalized services to these business owners.

As the traditional banking relationship model doesn’t find any value in underwriting loans for these businesses, SME lending platforms, online lenders and fintechs are making credit more accessible by trying to address the problem through alternative lending and the use of technology and AI, bringing new solutions and new, digital-first models to assist these business owners in growing their businesses.

Who is stepping up?

  • Jenfi

One of the most exciting newcomers is the startup Jenfi, who has already established its first base of operations in Singapore. To date, they have lent over SG$600,000 to their first 50 borrowers since launching during 2019. What makes their offering profound is its business model.

Approaching their lending from a growth perspective, Jenfi helps business owners invest in their businesses mainly through digital marketing, and takes a percentage of future revenue instead of fixed monthly repayments. In their bid to revive entrepreneurial spirit across Southeast Asia, the company has confirmed that even though marketing growth is their initial product focus, they ultimately want to solve small business lending throughout the region.

  • First Circle

Growing by leaps and bounds is the Philippines-based First Circle, who managed to acquire US$26 million in funding to commence with regional expansion. This after raising US$2.5 million (including a US$1.8 million seed round) in 2017.

First Circle’s loans are usually transaction or working capital used to secure contracts or deals with guaranteed financial returns. Unlike Peer 2 Peer (P2P) models, First Circle sources capital from third parties who take on only half of the loan, as such they remain invested in the deals and do thorough due diligence before committing.

They are also looking into their data to include more options that include little to zero human interaction, as they believe a massive amount of their financing processes do not need any human interaction.

  • Venturra Capital

Venturra Capital is a US$150 million fund that is actively looking at new opportunities in the digital space. A very smart move when one considers that mobile internet adoption in the region is growing at an unprecedented rate across the population of over 600 million.

The group has already spent close to US$500 million developing its own e-commerce platform in Indonesia but continues to remain flexible in their focus. According to the founder, German Jung, “Our themes are broad and include ecommerce to fin-tech, healthcare, and education. We are primarily looking at consumer businesses, but there are bigger opportunities in the B2B space, too.”

Also Read: Venturra Capital launches seed investment arm Venturra Discovery, armed with US$15M fund

The fund will also invest in startups in various industries across SE Asia, with scope to look at international companies that may have business potential in Southeast Asia.

  • Insignia Venture Partners

Taking the success of their first fund which closed at US$120 million a bit further, Insignia Venture Partners hit an oversubscribed close for its second fund at US$274.1 million at the end of 2019. The powerhouse fund gave away that they would be doubling down on early-stage technology in Southeast Asia.

“We do not see a change moving forward, especially as there is more smart capital and top talent flowing into the region that spurs the formation of great companies,” said Tan Yinglan, founding managing partner of Insignia. Insignia has won the Singapore Venture Capital & Private Equity Association’s “VC Deal of the Year” award for two years in a row, first with the automotive marketplace Carro in 2018, and again in 2019 for their investment into the Indonesian fintech firm Payfazz.

  • Tryb Group

The Tryb group is another major player with a unique business model, focusing on fintech in the region, it functions as an umbrella company by taking stakes in promising companies and buying up other by way of acquisitions. Playing directly into predictions for the future of the financial industry and trade finance, their predominant focus lies in the digitization of the mainly analog systems of financial institutions and banking services in Southeast Asia.

Another major area of interest for the Tryb Group is in capital markets, where there is increasing interest in Southeast Asia from outside the region. The group is not currently showing direct revenue but is in the process of finalizing several acquisitions in the enterprise space which will bring revenue to the group once finalized.

Current and future trends

During 2019, both local and international players were actively investing in the region. Several local players started providing lending and micro-insurance services to businesses and individuals who previously had no access to those services provided through banks. There is a definite shortage when it comes to the financial literacy of the larger population in the region as a whole.

As such, when looking at the personal and nationwide financial statistics, it becomes easier to see the steps the US had taken to include a larger portion of the population and how this same approach can provide inclusion to smaller businesses in Southeast Asia. One of the most significant trends driving alternative lending is the number of fintech firms that have taken the opportunity to launch their products.

We’ve also witnessed the growth of Southeast Asia’s cross-border ecosystem. Countries collaborating within special frameworks like the pan-Asian Fintech Cooperation Committee and the Asia-Pacific Fintech Network will assist the market in further strengthening the region’s position in the fintech scene. 

Google and Temasek have predicted that SEA’s loan book will increase two-to threefold reaching $110 billion by 2025 (link to image)

New technologies are influencing the fintech sector in major ways with AI, chatbots and surprisingly, some ideas around the uses of social media, leading the way. According to Andrea Baronchelli, CEO of Aspire, a Singapore based company offering direct loans to SMEs, social media can be used to determine a business’s overall health.

“In this era of social media, there are huge amounts of data freely available online. Companies that have perfected the method of tapping this data will have a key competitive edge moving forward.” As such, innovative new methods of credit verification will become key in revolutionizing SME financing methods. 

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, or like the e27 Facebook page and sign up for our upcoming webinar on how to manage founder’s burnout

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