1Long is an AI-powered wealth management platform that enables individuals in Vietnam to start investing with as little as 10,000 VND (approximately less than US$1). The platform allows daily transfers and withdrawals without fees, thus removing barriers to accessing funds.

Founded by a team of former investment banking and Y Combinator-backed veterans, 1Long last month bagged US$500,000 pre-seed funding from Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.

In this interview, co-founder and CEO Michael Do discusses the product, the USP, and its new diversification plans.

Edited excerpts:

What specific gaps or challenges did 1Long see in the Vietnamese financial landscape that 1Long aims to address?

There is an urge to speculate on asset classes rather than hold long-term without realising that the more you trade, the more likely you are to lose because speculative assets have high bid-ask spreads before fees — meaning you’re at a loss the second you transact.

Furthermore, access to fixed-income assets like corporate bonds is reserved for professional investors yet offers great risk-adjusted returns. Vietnam and other countries in the region are growing comfortably into the middle class; it will be just as much about capital preservation as capital growth.

None of the current investment apps properly addresses this evolving customer demand.

With the rise of mobile trading apps, how does 1Long differentiate itself and promote a “relaxed, non-trading-centric approach” to wealth management?

We don’t offer trading. We focus on a subscription approach that incentivises long-term capital management over a transaction-value-based model that stimulates dopamine-charged decision-making.

Also Read: ‘Resistance to digital wealth management has almost disappeared in SEA’: Bambu CEO Ned Phillips

Money is a means to an end, and we prefer that our customers focus on the end rather than the means of accumulating it. We offer tools and value-added services that help customers achieve their goals most efficiently.

Furthermore, we’re labelling and segmenting customers to be fed into an AI-powered CRM that has omnichannel interactions. With tech, we can always be there for our customers.

What specific efforts are being made to democratise wealth building and make 1Long accessible to a broader range of Vietnamese individuals, especially those starting with minimal funds?

For our initial products, we allow regular retail customers to access corporate bond yields. To be able to buy bonds, retail investors must have a minimum of about ~US$50,000 in assets and apply for professional investor status.

Furthermore, we democratise access to these yields for as low as US$1 by aggregating and rationalising fractionalising the lot requirement.

Lastly, our philosophy is to treat our customers like educated limited fund partners. We frequently update their portfolio holdings and our investment decisions while sharing resources that an investor relations department typically offers.

Beyond savings products, what excites you most about expanding 1Long into investment products and value-added services?

We approached savings first because it’s the most ubiquitous customer need, and currently, Vietnam banks have over US$200 billion in inflexible termed deposits. At the same time, some of the largest mutual funds and ETFs here don’t surpass US$$50 million AUM.

There’s a big disconnect here as savings and mutual funds are passive investments, yet banks almost exclusively own the AUM.

We’re up for the challenge of figuring out why, and we’re excited about being able to support the financial products ecosystem with lead generation to build a more integrated solution set for all customers, no matter their age or wealth level.

Can you describe how 1Long plans to reinvest in charitable and green initiatives, demonstrating its commitment to social impact alongside financial success?

We want to be a force for good and believe that financial institutions should spend much time with the community to understand their needs.

Our first initiative was to work with Room to Read (a nonprofit for children’s literacy & girls’ education programmes at work) to donate to their efforts to promote literacy among children. We received great feedback and over 400 installs from the campaign.

Also Read: Shifting the global paradigm of wealth management with digital assets

Concurrently, we are discussing with universities and other organisations for collaborations we can do to promote responsible savings and investments. We are okay with losing some margin on our profit to support sustainability projects with preferential rates, and our customers would be okay with both.

How does 1Long plan to cater to both domestic and international investors interested in the Vietnamese market?

Currently, our focus is only on domestic investors. We believe the domestic market here is substantial and growing, so “rising tides will lift all boats.”

We plan to be fully regulated soon so we can properly serve domestic and international investors. Once that is the case, we see the story of Vietnam is not hard to sell to international investors, including the four million overseas Vietnamese. As a SEA turtle myself, I am confident 1Long can convince others to take the journey home for an opportunity.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post ‘We want to treat our customers like educated LPs of a fund’: Michael Do of wealthtech startup 1Long appeared first on e27.

Malaysian fintech-as-a-service (FaaS) company Soft Space has announced an undisclosed investment from its long-standing partner and Japanese payment processing company GMO Financial Gate (GMO-FG).

This alliance, coming before Soft Space’s planned Series C funding round, aims to provide cashless payments across various industries in Japan, including transportation, hospitality, and the extensive food and beverage (F&B) sector.

Also Read: Malaysian fintech-as-a-service firm Soft Space closes US$31.5M Series B1 round

Japan has a US$650 billion cashless payment market.

Founded in 2012, Kuala Lumpur-headquartered Soft Space offers merchants and consumers solutions, such as contactless payment through mobile devices and white-label e-wallet services. It serves over 90 financial institutions and partners across 30 global markets.

Leveraging GMO-FG’s extensive client network, Soft Space looks to explore new opportunities in sectors traditionally reliant on cash transactions. With Japan being a prime destination for international tourists, this move towards cashless payments is anticipated to boost tourist spending.

Kentaro Sugiyama, CEO of GMO-FG, said, “Since our collaboration began in 2018, Soft Space and GMO-FG have cultivated a strong relationship by integrating Soft Space’s SoftPOS services with GMO-FG’s payment network, with an initial focus on the transit segment. This capital alliance is a step towards deepening our collaboration and expanding Japan’s face-to-face cashless payment market.”

Also Read: Japan’s JCB injects US$5M into Malaysian fintech firm Soft Space

In April last year, the Malaysian firm tannounced the completion of its Series B extension round at US$31.5 million, led by Southern Capital Group. Returning investor transcosmos, strategic investor JCB, and Hibiscus Fund (jointly managed by RHL Ventures and South Korea’s KB Investment) also participated.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Japan’s GMO Financial Gate infuses capital into Soft Space appeared first on e27.

Visit Echelon X to learn more about the program. Get your tickets here!

Echelon is back this year and it promises bigger and bolder things for all stakeholders from across the Southeast Asia tech startup ecosystem.

With a focus on fostering connections, facilitating knowledge exchange, and catalysing growth, Echelon X is a platform for startups to gain visibility, secure funding, and forge strategic partnerships. Attendees can expect insightful keynotes, panel discussions, startup pitches, networking sessions, and more, all aimed at driving forward the dynamic and vibrant tech ecosystem in Asia.

With this in mind, Echelon X will feature insights and learnings from some of the top industry leaders in the region. Meet the 21 voices in the Southeast Asia tech startup ecosystem who will be speaking at Echelon X!

21 industry leaders who will share their insights

Caela Tanjangco, Director for Endeavor Catalyst, Endeavor

Caela Tanjangco serves as the Director for Endeavor Catalyst at Endeavor, where she holds the role of Head of Asia, overseeing Endeavor’s first global support office outside the US. In this capacity, she collaborates closely with Limited Partners (LPs), co-investors, and deals within the region. Endeavor Catalyst, the co-investment fund of the nonprofit organisation Endeavor, focuses on investing in Endeavor Entrepreneurs across emerging and underserved markets, thereby contributing to the sustainability of Endeavor’s mission. With Endeavor being the leading community of High-Impact Entrepreneurs spanning over 40 markets and boasting more than 2500 founders, Caela plays a crucial role in nurturing the entrepreneurship ecosystem and fostering venture development in Southeast Asia. Beyond her daytime pursuits, she dedicates her nights to crafting projects aimed at improving societal well-being while also facilitating connections between impact startups and investors on the side.

Dr Ayesha Khanna, Co-Founder and CEO of Addo

Dr Ayesha Khanna, Co-Founder and CEO of Addo, is an AI and data advocate dedicated to empowering companies and individuals through innovative data usage. She advises CEOs and Boards on becoming globally competitive, data-driven organisations, while leading Addo’s team in building intelligent data platforms for major enterprises. Dr Khanna is also a passionate advocate for women in AI, founding the charity 21st Century Girls to teach coding and AI basics to young girls. She is also a huge believer in human-centred technology. Throughout her college years, she volunteered in human rights organisations and she strongly supports movements for data dignity, digital justice, and AI ethics.

Aaqib Alvi, Singapore Country Manager of Sustainable Living Lab

Providing global program management for Sustainable Living Lab’s client, Intel, Aaqib Alvi is on the frontlines of the AI revolution, deploying cutting-edge technology to national governments in over 35+ countries. His passion for using AI to bridge the technical gap and empower non-technical populations has driven him to work on sustainable development goals by providing sustainable innovation consultancies to MNCs and communities.

He is proud to be at the forefront of future thinking and foresight planning, helping to shape policy on a global scale.

Admond Lee, Founder of The Runway Ventures

Admond Lee is a physicist turned data scientist, now a founder, building The Runway Ventures — a weekly newsletter to help people learn from startup mistakes and become better founders. He spent the first 3 years of his career helping companies solve business problems as a data scientist. Meantime, he was also a corporate trainer, speaker, and writer in data science. After 3 years of building startups, Admond is convinced that mistakes are the best teachers to become a better founder.

For any startup, there are many ways to succeed, but only a few ways to die. This is why Admond Lee started The Runway Ventures.

Catherine Shu, Director of Media and Content for PR Group

Catherine Shu is the Director of Media and Content for PR Group, bringing over a decade of experience as a Taiwanese-American journalist based in Taipei. Notably, she spent twelve years at TechCrunch, where she extensively covered the technology industry across Asian markets, with a particular focus on Taiwan, Southeast Asia, and Australia. Catherine’s expertise is contextualising these developments for international audiences while observing the interplay between culture, human behaviour, and the startup and venture capital ecosystems. This passion has shaped her journalistic approach. Fluent in Mandarin, she has a keen eye for cultural nuances and their impact on business landscapes. Before her tenure at TechCrunch, Catherine worked as a features reporter for the Taipei Times, delving into topics such as culture, entrepreneurship, and policy in Taiwan. Her insightful reporting has graced the pages of esteemed publications including the New York Times, the Economist Intelligence Unit, Barron’s, and the Village Voice, showcasing her versatility and depth as a journalist.

Ahmad Kashfi Alwi, Former Senior Vice President of Ecosystem Development at Cradle Fund

Ahmad Kashfi Alwi, former Senior Vice President of Ecosystem Development at Cradle Fund, is a visionary leader pioneering the future of startups. At Cradle Fund, he helped lead MYStartup, a groundbreaking capacity-building initiative supported by Malaysia’s Ministry of Science, Technology, and Innovation (MOSTI). With a knack for regional development, strategic partnerships, and marketing, Ahmad drives growth in dynamic corporate environments. His expertise spans strategic and operational domains within microinsurance, FinTech, and advanced digital services. Holding an MBA with Distinction from the University of Nottingham, Ahmad is currently pursuing a PhD in Innovation Management. He is passionate about igniting innovation, shaping the startup landscape, and propelling the frontiers of entrepreneurship.

Albert Lucius, Group CEO & Founder of TipTip

Albert Lucius is an Indonesian entrepreneur with 10+ years of global experience at Fortune 100 companies. His career at three distinct industry leaders: Goldman Sachs, BCG, and Apple provided him with a unique blend of experiences in finance, consumer goods, and technology industries. His past professional work includes product development, user interface design, financial modelling, and corporate strategy. Albert earned his MS and BS degrees in Computer Science from the University of Illinois at Urbana-Champaign with the highest honours, specialising in user interface and data mining. Upon finishing his MBA from the Haas School of Business at Berkeley, Albert moved back to Indonesia to start Kudo. Kudo is Indonesia’s leading O2O acceptance network.

Evan Heng, Founder & CEO of Zenith Learning Group

Evan Heng is the CEO and founder of Zenith Learning Group (Zenith). He has scaled Zenith Education Studio (Zenith’s flagship brand) to become the largest pre-university-focused education company in Singapore, with over 15% of all Singaporean Junior College (high school) students attending lessons at Zenith in preparation for their university entrance exams. He also launched Zenith Education Technologies in 2022 with the mission of building the future of education and democratising quality education in Southeast Asia.

He aims to build an end-to-end education ecosystem for students to receive a world-class education, regardless of their financial background. To achieve this, he works with his team to develop education technology to transform the traditional education experience of students and impact millions of lives in the region, in a scalable and sustainable way.

Antonny Liem, Founding Partner at GDP Venture

Antonny Liem is a Founding Partner at GDP Venture, where his passion for people, technology, and marketing converges into a dynamic career trajectory. With a background in Finance and Management, Antonny initially delved into Enterprise IT before transitioning seamlessly into branding, advertising, and digital marketing. His journey eventually led him to the realm of technology investment, incubation, and venture building. Antonny boasts a deep understanding of the technology ecosystem, particularly the internet industry, and plays a pivotal role within GDP Venture, actively contributing to the development of the internet industry in Indonesia and the broader region. With extensive experience as a key member of management and senior executive teams, Antonny has co-founded companies, led incubation efforts, made strategic investments, managed portfolios, secured external funding from international investors, scaled companies, and orchestrated exit rounds through mergers and acquisitions.

Arvind Appavu, Deputy Managing Director for Pulse 63 Healthcare Ventures

Arvind Appavu is the Deputy Managing Director for Pulse 63 Healthcare Ventures, bringing with him a wealth of experience as a seasoned management executive. His expertise spans setting up successful programs and operations globally, executing business transformations, and cultivating high-performance teams. Arvind is renowned for his adeptness in building companies from inception, showcasing proficiency in ideation, direction setting, securing funding, and assembling talented teams. His strength lies in fostering connections among individuals from diverse backgrounds and facilitating opportunities within emerging technologies and business models.

Fatima Almubbad, Director for Singapore and Southeast Asia Bahrain Economic Development Board (EDB)

Fatima Almubbad serves as the Director for Singapore and Southeast Asia at the Bahrain Economic Development Board (EDB), bringing over a decade of expertise in regional strategy and investment trade across the public and private sectors, with a focus on IMEA and East Asia. An eternal optimist, Fatima believes in overcoming challenges with determination, guided by the mantra “Where there is a will, there is a way.” Starting her career in consultancy, she now applies her extensive cross-cultural experience to drive business development, strategic planning, and operations. Specialising in inbound and outbound trade investment, problem-solving, networking, stakeholder management, and partnership building, Fatima is dedicated to fostering economic growth and collaboration in the region.

Harprem Doowa, Founder of Eazy Digital Co., Ltd.

Harprem Doowa, Founder of Eazy Digital Co., Ltd., is a seasoned entrepreneur with expertise in e-commerce management, business analysis, and project execution. Known for his drive and people-centric approach, Harprem successfully built Thailand’s top online pet store, petloft.com, before transitioning to CEO of Moxy, a leading women’s e-commerce platform.

Under his leadership, Moxy’s team grew from 2 to 65 members in two years, showcasing his ability to drive growth and optimize operations. Harprem excels in strategy, efficiency, and achieving targets.

Henry Motte de la Motte, CEO & Founder of EDGE Tutor

Henry Motte-Muñoz is the Filipino-French founder of Edge Tutor International, which provides high-quality, engaging and competitive English and Maths tutors from the Philippines to online tutoring companies in 20+ countries in the Americas, Europe and Asia-Pacific.

He is also the founder of Edukasyon.ph, the leading EdTech platform in the Philippines, improving education outcomes for 8 million students a year through three pillars: K-12 academic support, 21st-century soft skills, and college & career guidance. He has been recognized as a WEF Young Global Leader, and an Asia Society Young Leader.

Dominic Schacher, Chief Executive Officer at Aument Capital Partners

Dominic Schacher serves as the Chief Executive Officer at Aument Capital Partners, leveraging his extensive experience and expertise as a finance professional. With a robust background in banking and investment, Dominic boasts a proven track record in navigating financial products and markets. His skill set encompasses strategic planning, risk management, and effective leadership, all of which contribute to his success in driving organisational growth and profitability. As a CFA charter holder and a graduate of the University of Bristol with a Master’s in Accounting, Finance & Management, Dominic brings both theoretical knowledge and practical insights to his role, ensuring the firm’s strategic objectives are met with precision and efficacy.

Jane Lee, VP of APAC GTM @ Remote

Jane Lee, Vice President of APAC GTM at Remote, champions a paradigm shift in the world of work, emphasising the freedom from traditional constraints like desks and offices. Remote’s mission aligns with this vision, facilitating global talent access for companies of all sizes by offering a comprehensive Global HR platform and expertise in legal, financial, and cultural matters across 150+ countries. Founded in 2019 by Job van der Voort and Marcelo Lebre, Remote has garnered support from esteemed investors like SoftBank Vision Fund 2 and Accel. In her role, Jane is committed to delivering top-notch solutions to clients, building and scaling a premier sales and GTM organisation, and fostering individual career growth within the sales domain.

Fandy Cendrajaya, Founding Partner at Kopital Ventures

Fandy Cendrajaya is a Founding Partner at Kopital Ventures, a dynamic venture capital firm operating in Southeast Asia. At Kopital Ventures, Fandy plays a pivotal role in steering the company’s mission to foster innovation and entrepreneurship within the region. Specialising in pre-seed and seed-stage investments, Kopital Ventures is dedicated to supporting early-stage startups across various sectors, from technology to consumer goods and beyond. With a forward-thinking approach, Fandy and the team at Kopital Ventures strive to bridge the gap between today’s industry pioneers and the transformative leaders of tomorrow. Their commitment to nurturing emerging talent and fostering growth opportunities underscores their vision for a vibrant and thriving startup ecosystem in Southeast Asia.

Yanqing Hou, Head of Product Growth for APAC at AppsFlyer

Yanqing Hou, Head of Product Growth for APAC at AppsFlyer, is a seasoned digital analyst adept at distilling actionable insights from big data. With expertise in web analytics, social media analysis, and advanced Excel, Jane excels in generating reports and optimising campaigns for clients.

Her proficiency in SEO, PPC, and learning agility, honed through experiences at Rise Interactive and Weber Shandwick, underscores her success in the dynamic realm of digital analytics. Drawing from her experiences at Rise Interactive and Weber Shandwick, Yanqing emphasises the importance of continuous learning and adaptability in the ever-evolving field of digital analytics.

Jingjing Zhong, Co-Founder of Superbench

Jingjing Zhong, Co-Founder of Superbench, brings a unique blend of experience as an ex-investment banker turned startup operator, driven by a passion for leveraging technology and talent to revolutionise traditional businesses such as cleaning and F&B. Believing in the power of integrating people, processes, and technology to effect meaningful change, Jingjing is committed to creating impactful solutions.

Beyond her entrepreneurial pursuits, she dedicates her free time to organising professional and social events for the Berkeley Club of Singapore, showcasing her commitment to community engagement and networking.

Lars Voedisch, Group CEO for PRecious Communications

Lars Voedisch is an experienced communications and business professional with 20 years of expertise in growing, managing and defending leading global brands’ reputations across industry sectors in traditional media and digital environments.

With his strong background in business development, integrated communications and team leadership, he drives impactful communications strategies that contribute to brands’ strategic objectives. His areas of expertise include advising leading global brands on strategic media, issue and reputation management across traditional and social media channels.

Kevin Fitzgerald, Managing Director for Asia at Employment Hero

Kevin Fitzgerald serves as the Managing Director for Asia at Employment Hero, driven by a passion for assisting SMEs in overcoming operational challenges through technology solutions. With a focus on alleviating the burdens of employment regulations for SMEs, Kevin believes in the transformative power of technology to streamline business processes. Armed with ACCA accreditation and over two decades of experience spanning accounting, recruitment consultancy, sales, and coaching, Kevin has been instrumental in guiding SMEs towards scalability and operational efficiency through innovative technological approaches.

Michael de Waal-Montgomery, Co-Owner of Ellerton & Co. Public Relations and Marketing

Michael is the Co-Owner of Ellerton & Co. Public Relations. His career has spanned both sides of the media industry from journalism to public relations — both in-house and in agency roles. Michael started his career as a journalist, writing for leading tech publications including VentureBeat and e27, where he reported on the nascent startup and technology scene in Southeast Asia. Michael covered some of Asia’s — and the world’s — leading startups, learning to discern a good story from a bad one and attracting millions of page views to his articles. Michael has also written for major newspapers in Asia including the front pages of Hong Kong’s South China Morning Post.

Get to know these industry leaders and more at Echelon X!

Get ready to mark your calendars for May 15th and 16th, 2024, as Echelon X gears up to take the Singapore EXPO by storm! Transforming into a vibrant epicentre of tech and innovation, these two days dedicated to tech, innovation, and business growth will unite industry giants, visionary entrepreneurs, and groundbreaking startups from across the region.

Whether you’re craving knowledge, eager to expand your network, or ready to unveil your game-changing ideas, Echelon X guarantees an unforgettable journey. Secure your spot now, whether as a participant or an official partner and prepare to be part of a transformative experience that reshapes the future and leaves a lasting impact. If you’re interested in becoming one of our speakers, feel free to check out the application form here. Learn more about Echelon X through our official website.

Join us at Echelon 2024, where innovation knows no bounds and the possibilities are endless!

The post 21 more industry leaders will be taking the Echelon X stage! appeared first on e27.

AnyMind Group, a Tokyo Exchange-listed business process-as-a-service (BPaaS), e-commerce and digital transformation company, has agreed to acquire all shares of Malaysia-based e-commerce enabler Arche Digital, for an undisclosed amount.

Arche Digital’s operational expertise in e-commerce will be combined with AnyMind’s proprietary software for e-commerce and marketing to strengthen its BPaaS capabilities for domestic and international enterprises in Malaysia.

Also Read: AnyMind Group agrees to acquire Indonesian e-commerce enabler DDI

BPaaS is a business model that combines software and operational support functions across the business process.

Arche Digital is AnyMind Group’s ninth acquisition in seven years and its first in Malaysia. Earlier, the group acquired Indonesian e-commerce enabler DDI in September 2023.

Founded in 2015, Arche Digital provides a range of services, including e-commerce strategy development, e-commerce operations, warehouse and logistics management, online store operations, marketing and customer service. Since its launch, the company has served several enterprises, including global skincare brands and household brands, and claims to have amassed over 1 million orders.

Kosuke Sogo, CEO and co-founder of AnyMind Group, said: “Arche Digital has a management team with deep expertise in the e-commerce field in Malaysia and a track record of supporting various enterprises.

Founded in Singapore in April 2016 and now headquartered in Tokyo, AnyMind Group provides two broad offerings to brands and businesses, publishers and influencers: Brand Commerce and Partner Growth.

Brand Commerce provides businesses with platforms for manufacturing, e-commerce enablement, marketing and logistics. Partner Growth delivers web and mobile app publishers, influencers and content creators with platforms for monetisation and optimisation.

Also Read: How AnyMind Group achieved profitability through its approach to human resource and leadership

In December 2023, AnyMind Group announced its expansion into Saudi Arabia by opening an office in Riyadh and appointed Rubeena Singh as Country Manager (India and MENA).

AnyMind Group has over 1,500 staff across 22 offices in 15 markets, including Singapore, Thailand, Indonesia, Vietnam, Cambodia, Malaysia, the Philippines, Hong Kong, Taiwan, Mainland China, Japan, India, the United Arab Emirates, and South Korea.

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The post AnyMind Group sets foot in Malaysia by acquiring e-commerce enabler Arche Digital appeared first on e27.

Whether you are at a pre-planned meeting or a networking event, donning the Business Development hat may be quite a daunting task. Do you go for the small talk first? Or do you go all the way in and start hard selling to hit your KPI?

Everyone has their own style but here are some pointers from the industry on how to rock your sales pitch.

Justin Mah, Business Development Manager, MoneyMatch

 

“During one of my first sales encounters, I had to pitch to the MD of an MNC. I knew little on how to build rapport and the pre-meeting trepidation was immense. I started off with my pitch without asking any questions and went on for a few minutes, after which he interrupted at intervals and asked plenty of questions which I couldn’t answer. I was left dumbfounded, was asked to brush up on my knowledge, and to leave within five minutes.

It was a dreadful experience and took me a couple of days to let the emotions settle, reflect on what went wrong and how I would never let it happen ever again.”

Top Tip: Avoid fancy jargons and practise

“Articulate concisely on the Why/How/What of your business that others should get the crux of it quickly to start asking questions to know more. Build rapport from the beginning, keep listening, and assert your points accordingly, get an engaging conversation going. How to get good at doing it before your actual sales pitch? Practice a lot with different types of people and personalities to get feedback, your friends/family/colleagues/boss, everyone responds differently and helps you to be versatile.

Besides the usual notions of knowing your industry inside out and your product’s value proposition, there is a fine line between ‘believing in what you sell’ vs ‘selling what you believe’ and I strongly stand for the latter.

‘People don’t buy what you sell, they buy what you believe,’ said the infamous Simon Sinek. There has to be a deep sense of conviction within yourself and the purpose of what the company strives for. With that, the selling comes natural.”

Also Read: 4 businesses share their best sales generation techniques

Nicholas Gerard, Business Development Manager, Peatix

“To me, every sales meeting is unique. But some of the most exciting and fun meetings have been when I have sold to clients without ever opening a pitch deck. I have noticed that on these occasions, the clients were primarily looking to see, through initial conversations in the meeting, if I was someone they could feel comfortable with and could trust. I realised that usually that even before the end of those meetings, they have already made a decision whether or not to work with me.”

Top Tip: Understand the client and customise your pitch

“Keep in mind that people don’t like to be sold, but they love to buy. Most of the time, they are not just buying a product, they are buying you. Keep in mind that when people buy, they are usually feeling good about it. So you have to make them feel good about buying from you. So how do you make them feel good about you?

Once you have a firm understanding of the prospect based on your research and through asking them questions, tailor your pitch to show how you can add value or solve a problem related to their situation and only focus on those areas. Some make the mistake of running through every detail about how great their product or service is. This will put off your prospect and reduce the chance of them buying from you.”

Adrian Lim, CEO, VLT

“There was once a pitch that I went for in the past that was attended by all C-Levels of sorts. I started the presentation and everyone seemed tense and looked dead serious, and I would have thought, this is the end. ‘Let’s get out quickly,’ I thought, but I was only at my third slide. No one was engaging with me and no one even nodded or twitched.”
Top Tip: Relax and be relatable
“So, I decided to change my approach. I asked if I could tell a story and talked about my weekend food hunt. I started asking them questions, shared what I liked, how I found it, and how my friends enjoyed it as well (of course, all related to the presentation).

The entire team eventually started to relax and smile, being able to relate to my story. The atmosphere changed, the room lightened up and everyone smiled as they started sharing their stories and opinions among themselves. This time, I continued my presentation with a lot of engagement.

I finished my sales presentation but did not win the pitch. However, some of the people in the audience eventually became my clients in another organisation some time after. That’s when I realised that I must have made an impression with the story. Sometimes, it’s good to prove that we’re also human.”

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Image Credit: haywiremedia / 123RF Stock Photo

This article was first published on August 4, 2017

The post How to nail your BD sales pitch –without hard selling appeared first on e27.

Smart speakers powered by AI chatbots are sprouting up all over the digital landscape. Consumers are increasingly relying on these bots to perform tasks such as e-commerce shopping or checking share prices.

This slideshare created by Tomomi Imura, Developer Relations at Slack, breaks down all you need to know about smart chatbots and the best way to develop them.

 

 

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This article was first published on August 22, 2017

The post Why smart chatbots are the future of web surfing, and how to build them appeared first on e27.

Aatif Awan breaks down how LinkedIn grew into the go-to professional social network — and in doing so, tries to provide advice that startups can use in their companies.

 

 

 

 

 

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Image Credit: Gratisography

This article was first published on August 2, 2017

The post Learn from LinkedIn, how the company grew from 500K to 500M in 13 years appeared first on e27.

In the dynamic world of global innovation, Japan emerges as an alluring hub for startups, particularly within the energetic city of Tokyo. Japan’s economic strength and substantial government investment in the startup ecosystem positions it as a strategic destination for those seeking opportunities.

Why Japan now? Exploring market opportunities

Japan stands out as an enticing choice for startups, driven by several compelling factors. Economically, Japan is the world’s fourth-largest economy by GDP. This not only signifies a robust economy but also translates to a vast market, capable of catering to diverse consumer needs and preferences.

Also read: Empowering innovators: Prudence Foundation tackles disaster challenges

Underlining its commitment to innovation, the Japanese government has pledged substantial support, allocating a total of ¥1.5 trillion to startup initiatives. This financial commitment underscores the country’s dedicated effort to foster entrepreneurial growth.

The Japanese government’s strategic “Five-Year Startup Development Plan” aims to elevate annual startup investments to ¥10 trillion by FY2027, envisioning the creation of 100 unicorns and 100,000 startups. The plan focuses on crucial aspects such as building human resources, strengthening funding avenues, diversifying exit strategies, and promoting open innovation.

Startups: Why Tokyo?

Tokyo, as a startup destination, offers distinct advantages for entrepreneurs:

• Hub for Advanced Technology: Tokyo ranks as the world’s third-leading city in research and development, making it a hub for cutting-edge technologies and innovation.
• Corporate Powerhouse: Hosting a concentration of major corporations, Tokyo provides startups with ample collaboration and partnership opportunities.
• An upswing of VC Investments: Tokyo is witnessing a positive trend in venture capital investments, showing a thriving startup ecosystem.
• Urban Sustainability Opportunities: Tokyo Bay ESG, a project aiming to create “the world’s first ESG city” by 2050, presents huge opportunities for climate tech startups. In the future, Tokyo plans to meet all energy needs through renewable sources and achieve zero emissions in buildings and transport systems.
• Government Support: The Tokyo Metropolitan Government extensively supports market entry, offering assistance with procedures, funds, and subsidies.
• Quality of Life: Beyond business, Tokyo provides an excellent quality of life and a diverse culinary culture, making it a prime destination for entrepreneurs.

Tokyo Metropolitan Government support

Tokyo aims to become the world’s most startup-friendly city, with plans to grow the number of unicorns and new businesses launched in the capital by 10 times over the next five years. This vision, known as the ’10×10×10 Innovation Vision’ aims for a tenfold increase in the number of unicorns, startups, and collaborative projects within the specified timeframe. Governor Yuriko Koike highlighted four key elements:

• Global: Creating global startups
• Growth: Supporting the growth of young people willing to take on challenges
• Collaboration: Creating collaboration between startups and established institutions
• Connect: Establishing a platform to connect everyone in the startup ecosystem

Aligned with this vision, the “Tokyo Innovation Base” (TIB) was established, aiming to create a hub for global innovation, where startups and supporters can connect and collaborate.

Also read: Application to PepsiCo’s Greenhouse Accelerator 2024 is extended!

Tokyo Innovation Base: A hub for startups

Tokyo Innovation Base (TIB) is a new startup campus and business networking hub in the heart of Tokyo, accelerating the local startup scene and positioning Tokyo as a global hub for innovation. TIB offers:

• Concierge Services: Personalised support tailored for startups, encompassing guidance on various aspects of business development. TIB’s concierge services extend access to over 50 experts across diverse industries for one-on-one consultations. These services cater to early-stage startups, later-stage startups seeking a foothold in Japan, and aspiring founders exploring business opportunities in the country.
• Mentorship: Mentorship at TIB extends beyond industry-focused advice; it also includes general assistance such as pitch training sessions, business ideation, and the facilitation of partnerships with Japanese corporations.
• Events and Training Programs: More than just a physical space, TIB stands as a beacon for aspiring entrepreneurs, visionaries, and innovators worldwide. The hub organises a variety of events designed to foster networking opportunities among startups, creating a dynamic environment for collaboration and idea exchange.
• Corporate-Startup Collaboration: TIB actively facilitates partnerships and collaboration between startups and established companies. With over 140 corporate partners having established ties with TIB, the hub aims to foster ecosystem collaboration. This involves connecting startup ecosystem builders and investors with key stakeholders in Tokyo and Japan, creating a robust network for mutual growth.

SusHi Tech Tokyo

SusHi Tech, short for Sustainable High City Tech, stands as one of Asia’s leading startup conferences, dedicated to addressing global urban challenges through technology happening on May 15th and 16th, 2024, at Tokyo Big Sight!

Take the first step towards global opportunities! For more details, visit Sushi Tech Tokyo 2024

Also read: 9Unicorns to facilitate $110M funding for 20 startups at DDAY 5 with 1500+ investors

Learn more about TIB

Explore Tokyo’s vibrant startup ecosystem, driving innovation and entrepreneurship! For more details about Tokyo Innovation Base, visit their website or follow them on the accounts below:

LinkedIn: https://www.linkedin.com/company/tokyoinnovationbase/ 

Twitter: https://twitter.com/TIBTokyo 

Come by anytime if you’re around Tokyo – TIB is looking forward to collaborating and growing together!

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This article is produced by the e27 team, sponsored by Tokyo Innovation Base

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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In the ever-evolving retail landscape, retailers are grappling with mounting pressure to meet customer demand for discounted deals and swift delivery, particularly during sales seasons. Despite this, a notable decline in holiday season sales in late 2023 prompted certain retailers to question whether shopping seasons have passed their prime.

In Singapore, it was reported that some retailers along Orchard Road have noticed a quieter year-end, with thinner crowds and the traditional holiday season spending splurge missing in action. Half of the sales representatives reported a decrease in December sales compared to the previous year.

Furthermore, while labour shortages are becoming less common, they still remain a persistent problem for many retailers in Asia-Pacific (APAC). In Singapore, an overwhelming nine in 10 retail employees expressed concerns about a shortage of labour, with 48 per cent ‘somewhat agreeing’ and 45 per cent ‘strongly agreeing’ to the issue.

Retailers today must navigate the challenge of accomplishing more with limited resources. This includes efficiently managing returns, providing top-notch customer service, and optimizing available inventory.

Meanwhile, a new era of omnichannel commerce challenges retailers to seamlessly manage multiple fulfillment channels to keep up with consumer expectations. Shoppers increasingly combine online and offline shopping, blurring the lines between online and offline retail. While omnichannel shopping causes challenges for retailers, most shoppers prefer options.

According to Zebra’s 16th Annual Global Shopper Study, nearly eight in 10 shoppers globally and in APAC favour a blend of online and in-store shopping, while 75 per cent of global and 72 per cent of APAC shoppers choose to shop with online retailers that have a brick-and-mortar location.

Other surveys also show that around 48 per cent of shoppers browse in physical stores before buying online, while around 49 per cent browse online before buying in a physical shop.

In tandem with this evolving retail landscape, consumer expectations have also ascended to new heights. Today’s shoppers expect a seamless omnichannel experience where they get to enjoy the convenience of easy returns and self-checkouts no matter where or how they shop.

Also Read: How Pomelo tackles the problem of high product return with its O2O retail experience

To overcome headwinds such as labour challenges and shifting consumer expectations, it is key for retailers to invest in cutting-edge technologies to help sustain profitability while providing positive shopper and associate experiences.

Surpassing shopper expectations: Navigating the omnichannel experience

Shoppers today seek a seamless experience in-store — this includes favouring digital payment and checkout options for convenience. The COVID-19 pandemic and a national drive for a cashless society have accelerated the adoption of electronic payments in Singapore — a growing majority of consumers are opting to pay for goods and services using their cards or mobile phones.

According to the same Zebra study, 28 per cent of APAC shoppers prefer pay/checkout anywhere, and 74 per cent of APAC shoppers say that self-checkouts help improve their experience.

Managing online and in-store returns adds another level of complexity. As omnichannel shopping continues to grow, the volume of returns increases along with it. Around seven in 10 global and APAC retailers surveyed in Zebra’s study say the pressure is mounting to improve the efficiency and expense of managing online orders, returns, and the fulfilment process.

With technology, retailers across all categories can monitor sales trends to better prepare for surges in consumer demand and cope with returns. Prescriptive analytics, real-time inventory visibility, and workforce management tools are vital to retail operations, helping stores and warehouses ensure they have the right people and inventory in the right places at the right time to offset the impacts of uncontrollable industry disruptions, such as the current omnichannel squeeze that retailers are facing.

Also Read: The canary in Singapore’s retail coal mine is ‘kiasu’

Keeping up with retail

The speed of change in the retail landscape is not slowing down anytime soon, but the technology available to retailers is also quickly advancing. As retailers add more digital channels that require fulfilment from store shelves, such as buy online and pick up in-store (BOPIS), having an accurate inventory count becomes imperative.

By strategically investing in the right mobile devices and software, stores can complete smart cycle counting on a more regular cadence without increasing headcount or diverting associates from delivering exceptional customer service.

A growing trend among retailers involves deploying technology once reserved for the warehouse or back of the store to the front of the store. For instance, Radio frequency identification (RFID) technology has been gaining popularity among apparel, sporting goods, and electronics retailers. Employing RFID tagging, helps streamline inventory management for weekly or even daily counts and can also help facilitate faster returns processing and inventory reshelving.

In order to enhance store productivity, it is crucial for intelligent inventory and workforce management solutions to work together. This visibility into sales data and the movement of goods across the supply chain allows retailers to leverage data to assign tasks to the right associates at the right time.

Ultimately, these solutions help merchants make better procurement and labour scheduling decisions to ensure they can always keep up with consumer demand, whether shopping online or in-store.

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