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A founder’s guide to successfully working from home

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“Summoning up the courage to take action is always the same regardless of how seemingly big or small the challenge. What may look like a small act of courage is courage nonetheless. The important thing is to be willing to take a step forward.”

– Nichiren Daishonin

The recent outbreak has inconvenienced the entire world, rapidly changing how people work, communicate, and interact. From the UK to the US, a number of multinational companies and businesses – from Amazon to Google – implemented work from home policies to prevent the further spread of COVID-19.

There were too many variables that made my co-founder (and friend), Mayank and I hesitant – how would the teams co-ordinate, how would the tasks be assigned, what criteria should be set for the number of tasks to be completed in a day, and so on.

After considering the pros and cons, the safety and well-being of our employees trumped. It was official – University Living would be moving into uncharted waters. From face time to FaceTime (pun intended), our entire team would be working remotely.

Also Read: e27 Webinar: Work-from-home or work-from-office, which is better?

After all, it isn’t the tough who make it through difficult times, it’s the ones who learn to adapt to the changing times.

I knew it would take some time wrapping my head around the concept, so I began my own research and set some ground rules. After reading a few articles online (there are tons of them on the web) and reaching out to my mentors (they had plenty of tried and tested methods), I was sure about what to do and not to do. Wake up early (you don’t want to sleep through half the day), keep a designated workspace (the place that turns into the Bermuda Triangle when you need a file), and so on.

The first day began with lots of enthusiasm and zeal, it was finally time to put all my research into action. Let me go ahead and share my checklist for boosting productivity when working from home.

Freshen up and dress up

I know waking up and taking a shower seems like a good idea if you actually have to go to the office, but trust me, it’s an even better idea to do it when you are working from home. You wouldn’t want to initiate a meeting on Skype (or any other platform) wearing your pyjamas. Also, seeing you dressed up will only inspire your employees to do the same.

My advice – Even if you’re not going to the office, dress the part.

Have a dedicated workspace

Whatever you do, do not work from your bed (just don’t). Find a place for your desk and chair, whether it’s in a separate room or a space in the corner of your kitchen (or lounge).

All you need is a place where you can get into work mode. Then you need to make sure that all your equipment – laptop, notes, phone, and so on is within easy reach.

My advice – Try out different places to set up a workstation before you finalise ‘the spot’. A little secret though, my spot is a table and chair in the living room.

Also Read: How I built a business across three countries with only remote workers

Schedule breaks during the day

Begin your day with meditation and yoga (or exercise), as it will keep you fresh throughout the day. But that doesn’t mean you stay on your seat for the rest of the day. So, talk a walk around your house. Or outdoors. Or the terrace. You get the picture, right? Your body needs to move.

Since you’re at home, spend time with your family during breaks. It will help you focus better when you resume work.

My advice – Leave your workstation, take a break. Not once or twice, but multiple times. A reminder to take breaks is as important as a reminder to finish your tasks.

Plan ahead

Instead of waking up in the morning and deciding to just tackle tasks as they come along, try to schedule them and stick to them. I know when you’re handling multiple teams and delegating multiple tasks, you tend to miss a few, but that’s what you get better at.

As for the rest of the umpteen things that come along, you can always get them done.

My advice – Note down everything in a diary or create a note on your phone. Call me old school, but I prefer writing things down in my diary and checking if I’ve crossed them off from the to-do list.

Communicate with employees

As the founder, it is important for me to be in control of any and all communication that takes place with the managers and their team. At University Living, we ensure that a continuous flow of positive and motivational talks is conducted through Skype meetings amidst jokes being cracked to keep things going. Even our HR team is checking up on the mental and physical well-being of our employees.

Also Read: 5 common productivity challenges affecting remote worker and how to overcome them

This encourages them to stay productive throughout the day without hampering their quality of work.

My advice – Try out different types of tools available like Slack, Hangouts, and Skype. And then pick the one that best suits you.

After my first week of working from home, I can safely conclude that this is a time for reflection – into the past and into the future.

What started off as a two-man show in Jan 2015, has now grown into a team of 80+ employees. Seeing how far the organisation has come, I think it is necessary to hit the pause button and go back to the basics.

Aren’t the best businesses the ones that strive to give their customers an experience that remains with them for life? Absolutely. This is why, we’ll be going back to the drawing board, focusing on our product and services. Thinking back on some of the strategies we came up with then, that may or may not have worked before, and give them a try again.

The way I see it, working from home is a step forward. It shows employees that they are cared for, having put trust in them which in turn encourages them to be work harder and smarter.

It is through each employees’ (from the top-level management to the junior staff) contribution that the success of the organization is shaped, by working diligently, whether it is in the office or from home.

Register for our next webinar: Mindful meditation for working professionals

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Image credit: Andrew Neel on Unsplash

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News Roundup: MightyJaxx raises US$3.2M funding; Vietnam’s Homebase closes pre-seed round

Vietnam’s proptech co-investing platform Homebase raises funds from Antler

Vietnam-based proptech startup Homebase has closed an undisclosed pre-seed funding round from global VC firm and startup generator Antler, besides Iterative and several strategic angel investors.

The startup said in a statement that it will use the new funds to expand its infrastructure, make new hires, and push forward with its regional expansion plans.

Homebase was founded in 2019 by Phillip An, Hung Viet Doan, Hai Vu, and JunYuan Tan. The startup intends to tackle the millennial homeownership crisis across Southeast Asia caused by fast-increasing prices and a high appetite for home-ownership, yet a lack of financing options.

Homebase’s product offers a path to homeownership for millennials across the region by allowing them to buy a portion of a property and move in from the first day, with the option to buy out more equity over time. To make investment decisions, Homebase utilises a combination of big data, asset valuation models and financial engineering.

Homebase was recently named as one of the World’s Top 50 Most Promising PropTech Startups by Plug and Play, the renowned US-based venture firm.

Singapore’s Mighty Jaxx receives investment from KB Investment, Greycroft Partners’ GC VR Gaming Tracker Fund

Mighty Jaxx International (Mighty Jaxx), an urban culture company that designs and manufactures collectibles and lifestyle products in partnership with global brands, announced today that it has bagged US$3.2 million funding led by South Korean VC firm KB Investment Co. This takes the company’s pre-Series A round to a total of approximately US$4.7 million.

Also Read: Online designer toys and collectible platform Mighty Jaxx secures US$1.6M financing

Joining the funding round are Los Angeles-based VC Greycroft Partner, through the GC VR Gaming Tracker Fund, an investment fund that is dedicated to supporting companies across the virtual reality, augmented reality, video game and e-sport sectors. Existing investor SGInnovate also participated in the round.

Mighty Jaxx plans to channel the investment towards the further development of MightyVerse, its proprietary technology platform and to help it ramps up its production for the second half of 2020 as it on-boards entertainment companies, Hasbro and ViacomCBS’s Nickelodeon, on new global licensing deals.

Digital payment startup Azimo, Siam Commercial Bank collaborate to settle remittances service

Azimo, an online funds transfer service provider, has joined hands with Thailand’s Siam Commercial Bank (SCB) to introduce an instant international payments gateway or remittances, from Europe to the Asian country.

According to Crowdfund Insider, the new platform will be powered by RippleNet, a decentralised cross-border payments network developed by American Fintech Ripple with the aim to address the current challenges of costly and unreliable cross-border transactions, providing payment transfer from Europe to Thailand within a minute.

Azimo allows users to complete Sterling Pound (GBP) and Euro-based payments to Thailand almost instantly with recipients based in the country can make withdrawals in Thai Bahts.

Fintech platform Helicap adds son of former Indonesia President to its Board of Directors

Singapore-based fintech platform Helicap has appointed Ilham Akbar Habibie, the son of late former Indonesian President B.J Habibie, as a Special Advisor and investor to the firm’s Board of Directors (BOD), DealStreetAsia has reported.

Also Read: Singapore-based lending platform Helicap raises US$5M to go to Indonesia

Like his father who was the third president of the country, Habibie is an aviation expert who also serves as Chairman of Indonesia’s shariah-compliant lender Bank Muamalat.

Ilham would advise Helicap’s BOD on the Indonesian market as well as give insights on strategic and operational matters, including guidance on expansion initiative and business development.

Picture Credit: unsplash.com/@peterng1618

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Staying at home forces people to be connected, only for the underserved to be left behind

There’s always blessing in disguise, which is what I learn from theory. But when it comes to the implications of COVID-19, I know that blessing is always in disguise, but not without a partiality.

As someone who’s been working from home almost for four years now, I didn’t feel any significant shift in my daily routine since the work-from-home policy kicked off. If anything, what I experience for the past one and a half month is superiority because I’ve been doing this far longer than all of the other amateurs (ha).

Suddenly, 2020 is the year where people are forced to make do with the technology they have been taking advantage of. More than before, we’ve collectively come to the realisation that our lives have become dependent entirely on technology today and we’ve been making too light of the matter.

That’s also one of many reasons this whole matter is still a blessing in disguise, solely for people with access to the internet and proper computers.

For an underserved community, that’s not the case. The virus has left them debilitated and technology has impaled their livelihood and for children, their education.

The United Nations Conference on Trade and Development released its analysis that maps the changing digital landscape since the last major global calamity, the 2008-09 financial crisis. It looks at how a digitally-enabled world is working for some, but not all equally.

How coronavirus puts digital gaps on the surface

According to its analysis, COVID-19 reveals the need to bridge the digital divide. The coronavirus speeds up the transition to a digital economy while exposing the digital gap between countries and societies.

Also Read: e27 webinar: Sailing through COVID-19 crisis with mindfulness meditation

The analysis also notes that the global crisis caused by the coronavirus pandemic has pushed us further into a digital world, and changes in behaviour are likely to have lasting effects when the economy starts to pick up. But not everyone is ready to embrace a more digitised existence.

Since the 2008-09 financial crisis, the world has started to look at how a digitally-enabled world is working for some, but not all equally. The inequality still continues today, and isolation made things hard on people with no access.

According to the analysis, the coronavirus crisis has accelerated the uptake of digital solutions, tools, and services, speeding up the global transition towards a digital economy.

However, it has also exposed the wide chasm between the connected and the unconnected, revealing just how far behind many are on digital uptake.

“Inequalities in digital readiness hamper the ability of large parts of the world to take advantage of technologies that help us cope with the coronavirus pandemic by staying at home,” said Shamika Sirimanne, UNCTAD’s Director ( Technology and Logistics).

Those who thrive

The analysis provides snapshots of how technology is being used as a critical tool in maintaining business and life continuity.

Measures to contain the coronavirus pandemic have seen more businesses and governments move their operations and services online to limit physical interaction to contain the spread of COVID-19.

Digital platforms are also thriving as consumers seek entertainment, shopping opportunities, and new ways of connecting during the crisis.

“There are incredible positives emerging that show the potential of a digitally transformed world,” notes Sirimanne.

Digitalisation allows telemedicine, telework, and online education to proliferate. It is also generating more data on the expansion of the virus and helping information exchanges for research.

There has been a leap in teleworking and online conferencing, amplifying the demand for online conferencing software such as Microsoft Teams, Skype, Cisco’s Webex, and Zoom, the analysis says.

According to Microsoft, the number of people using its software for online collaboration climbed nearly 40 per cent in a week.

In China, the use of digital work applications from WeChat, Tencent, and Ding took off at the end of January when lockdown measures started to take effect.

Other benefits include using Artificial Intelligence to help find a cure and a significant shift to e-commerce, benefitting small and big businesses alike.

Those who suffer

However not all technology companies are profiting and there are some serious consequences of the rush to online platforms. These include mounting security and privacy concerns, according to UNCTAD.

The fast-paced shift towards digitalisation is likely to strengthen the market positions of a few mega-digital platforms, the analysis finds.

This finding is concluded in UNCTAD’s 2019 Digital Economy Report, which pointed out that the world’s top seven digital platforms already accounted for two-thirds of the value of digital platforms globally in 2017.

They have benefitted from network effects and from their ability to extract, control, and analyse data, then transform it into digital intelligence that can be monetised.

Also Read: Digital transformation is now real: How COVID-19 has sparked innovation in tech companies

“This situation will now be amplified as more people come or are forced online due to the coronavirus crisis,” said Torbjörn Fredriksson, UNCTAD’s digital economy head. “Those that do not have access are at risk of being left further behind as digital transformation accelerates, especially those in least developed countries.”

The least developed countries (LDCs) are the most vulnerable to the human and economic consequences of the pandemic, and they also lag farthest behind in digital readiness.

Economists of the Institute for Development of Economics and Finance (INDEF) said in a piece in The Jakarta Post that, based on its gross national income (GNI) per capita and parameters of social development, among other factors, Indonesia should still be considered a developing country. Although not in the LDCs category, the fact that Indonesia’s GNI (Gross National Income) per capita of US$3,840 in 2018  — compared to high-income economies that are at a GNI per capita of US$12,376 — makes Indonesia to still be considered a lower-middle-income economy.

In most developing countries, well below five per cent of the population currently buys goods or services online. This poses questions of how the rest of 95 per cent of the population copes with the COVID-19’s limitation.

Lack of Internet access at home also limits connectivity, cramping, for example, the possibilities for students to be connected if schools are closed. “The education gap may also expand in developing countries, compounding inequalities,” said Sirimanne.

Low broadband quality hampers the ability to use teleconferencing tools. Mobile data costs also remain expensive across the developing world.

Hope for development

The coronavirus pandemic’s ability to show fractures can, hopefully, be turned into an opportunity, said Sirimanne. “More developing countries are exploring e-commerce and other digital solutions that can help build local resilience to future shocks.”

The main policy takeaway from the analysis is that much more attention should be given to bridging existing and emerging digital divides to allow more countries to take advantage of digitalisation.

However, doing so in such a short amount of time while containing the outbreak is something that’s next to impossible. What all of this restriction and the possible impact to the technologically vulnerable are what can prepare us next to make sure there’s even distribution for connection, because digital disruptions are the new normal today.

New policies and regulations are needed to ensure a fair distribution of the gains from digital disruptions.

Also Read: Report: COVID-19 might result in US$28B missing startup investment this year

“If left unaddressed, the yawning gap between under-connected and hyper-digitised countries will widen, thereby exacerbating existing inequalities. As with the coronavirus crisis and other development challenges, the world will need a coordinated multilateral response to deal with the challenge of digitalisation,” she added.

“This situation has significant development implications that cannot be ignored. We need to ensure that we do not leave those who are less digitally equipped even further behind in a post-coronavirus world,” Sirimanne concluded.

Photo by Rene Bernal on Unsplash

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[Updated] Indonesia’s KoinWorks raises US$20M from Quona Capital

Updates: The article has been updated on how the company will use its funds

KoinWorks, a financial P2P platform for small and medium-sized businesses in Indonesia, has raised US$20 million in a new round of fresh debt and equity capital, from Quona Capital.

Other existing investors including Triodos Bank, EV Growth, and Saison Capital also participated in this round.

The new money will go towards borrowers who are mostly digital SME’s, the company told e27.

“As an institution with the protection of our lenders’ capital at our core, being well capitalised is always a top priority. KoinWorks continues to stand together with many giant financial institutions and hundreds of thousands of retail lenders to support digital SMEs during COVID-19,” said Co-founder Willy Arifin.

“The company is growing, and closing a round in ‘corona times’ says a lot,” said Benedicto Haryono, co-founder of KoinWorks.

“We feel confident that we can support Indonesia as it makes its way through the COVID-changed economy. We strive to provide the best financial service for all our users.”

Aside from raising significant funding during turbulent times, KoinWorks has also announced new credit facilities, which will be used to underwrite loans via its fintech lending platform. Previously the company had also offered educational loans along with plans to launch eight new services in 2020, including gold saving according to Jakarta Globe.

KoinWorks currently has 400,000 users in its platform, with almost 220,000 lenders it claimed. Its local competitors include Akseleran, Investree, Reksadana, Amartha, Modalku and Funding societies.

Also Read: Funding Societies welcomes new CTO, CEO, CDO to accelerate scaleups

The fintech platform is also joining the Indonesian business community in support of Indonesia Pasti Bisa, initiated by East Venture through KoinDonasi, a fundraising programme to produce 100,000 test-kit and genetic research for COVID-19 vaccine-development purposes.

Prior to this the company had recently secured a series B2 round of US$1.4M from Japanese financial services company Saison Capital.

Image Credit: KoinWorks

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Afternoon News Roundup: Indonesia’s logistics-tech firm Kargo snags US$31M Series A

Indonesian logistics-tech company Kargo snags US$31M Series A financing

Indonesian logistics tech company Kargo announced today it has closed a US$31 million financing round, led by Silicon Valley-based Tenaya Capital.

Sequoia India and Southeast Asia, Intudo Ventures, Coca-Cola Amatil, Agaeti Convergence Ventures, Alter Global, and Mirae Asset Venture Investment also participated in the round.

Kargo offers an online platform to handle logistics solutions for businesses, with motor-bike, car, truck, ship and aeroplane.

The employees of the company recently joined the fight against COVID-19 by pledging US$1 million Logistics Relief fund for truckers moving essentials throughout Indonesia on the platform.

“Our entire company is donating a portion of our salaries to this cause and we invite local businesses and organisations to get in touch so we can work this problem together,” said CEO Tiger Fang.

Filipino-centric social app Kumu raises US$5M from Openspace Ventures

The Philippines-based live-streaming social app Kumo has raised US$4-5 million in Series A funding round led by Openspace Ventures according to DealStreet Asia.

ABS-CBN, Summit Media and Kickstart Ventures also joined the round.

With the new funds, the company aims to develop its platform and improve its user experience.

The firm also plans to introduce new features, such as a community-driven live commerce platform, which will allow users to buy products while engaging with online streamers.

Also Read: News Roundup: MightyJaxx raises US$3.2M funding; Vietnam’s Homebase closes pre-seed round

According to Co-founder Rexy Josh Dorado, a large majority of Kumu’s users are from outside the Philippines, covering 100 different countries around the world. This is also the audience segment which alone drives  50 per cent of Kumu’s revenue.

Capital Float lands US$15M to improve digital financial inclusion in India

Capital Float, an online platform that provides working capital finance to SMEs in India, has announced a US$15 million funding from existing investors Ribbit Capital, Amazon, SAIF Partners and Sequoia Capital, according to The Economic Times.

This round brings the company’s total funding raised to date US $125 million.

“At a time when the industry is faced with multiple challenges, we want to continue making lending effortless for SMEs and consumers across the nation,” said Sashank Rishyasringa and Gaurav Hinduja, Co-founders of Capital Floatin a joint statement. “We’re eager to significantly increase our lending capacity once the lockdown is lifted to enable SME growth and consumer spending at scale.”

Image Credit: Kargo

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