Build Your Startup’s Foundations: Strengthening Business Fundamentals Before Scaling and Fundraising
The panel discussion at Echelon Philippines 2024, titled ‘Build Your Startup’s Foundations: Strengthening Business Fundamentals Before Scaling and Fundraising’, offered insights into the critical elements of establishing a successful startup.
Moderated by Natasha Bautista, Head of Growth Marketing and Corporate Relations at 917Ventures, the session featured industry experts Kristine Claire Ongcangco, Founder and CEO at Parlon; Mathieu Sneep, Co-Founder and Chief Business Officer at Tablevibe; Luis Sia, Chairman and Co-Founder at PayMongo; and Don Pansacola, CEO and Co-Founder at NextPay.
The speakers emphasised the importance of achieving product-market fit and adhering to lean startup principles as foundational steps for new ventures.
Also Read: Echelon Philippines 2024: Why the Philippines is the next big tech hub
Ongcangco shared her experience of onboarding 20 salons and scaling to over 700 brands, highlighting the significance of organic growth and solid revenue generation before seeking external funding. Pansacola discussed the challenges of demonstrating growth during the pandemic, stressing the need for startups to pivot toward profitability. Sia addressed capital efficiency and the benefits of no-code solutions for early validation, underscoring how these tools can facilitate rapid scaling.
The panelists collectively noted that successful founders must be hands-on, deeply understand their business metrics, and even consider acquiring skills in coding or product management.
By focusing on these foundational strategies and growth techniques, the discussion provided aspiring entrepreneurs with practical guidance on how to build scalable and resilient companies in today’s competitive landscape. The emphasis on strong team dynamics and a solid business foundation will be crucial as startups navigate the complexities of the Philippine market.
Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.
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Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!
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