BuildHub Launch on April 14, 2024

In the dynamic world of construction, BuildHub stands out as a modern and innovative online marketplace. Our mission is to streamline connections between hardware stores and construction suppliers across the Philippines, making it easier for them to thrive and focus on their core strength — delivering high-quality materials and solutions for successful building projects. 

Transforming the construction industry

BuildHub PH aims to be the top choice for construction supplies in the Philippines. Through a wide variety of products within the online marketplace, we aim to empower professionals and revolutionise the industry with a broad selection of high-quality materials and innovative digital solutions. Our goal is to support our partners’ growth through access to financing and more delivery options. 

Decades of expertise and cutting-edge solutions

With over 67 years of combined experience in the construction industry, BuildHub offers unmatched expertise. Our platform is designed for a seamless shopping experience, providing contractors and hardware stores with essential materials at their fingertips. Specialising in wholesale and retail of construction goods—including cement, paint, steel, aggregates, and more—BuildHub PH equips professionals with the resources needed to build with confidence. 

Innovative solutions for growth

Philconstruct Visayas

In June 2024, BuildHub PH introduced its enhanced platform, ‘BuildHub.ph,’ at the Philippine Construction (PhilCon) Visayas Expo in Cebu City. The launch featured ‘BuildCredit,’ a revolutionary financing service offering competitive interest rates of one per cent to three per cent for 30-60 day terms. 

Also Read: Adopting electric construction machinery for a sustainable future in Singapore

This new service aims to boost financial stability and foster growth for small and medium-sized businesses in the construction industry. Supported by our owned fleet of trucks and vessels under Buildmart Shipping, BuildHub provides more options for buyers to receive their products at the right time and price. 

Join us in shaping the future of construction

As BuildHub PH continues to grow, we seek partners who share our vision of transforming the construction industry. By collaborating with us, you’ll be part of a forward-thinking team committed to enhancing procurement processes and improving efficiency. Let’s work together to shape the future of construction. 

Standing left to right, Ms. Sarah Nones,Key Officer for Special Projects, BuildHub PH, owners of LZR Hardware, Mr. Richard Lim, Co-CEO of BuildHub PH

For more information about BuildHub PH and partnership opportunities, visit BuildHub.ph.

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The real estate sector faces increasing climate-related risks, with much focus traditionally placed on physical risks like extreme weather. However, transition risks — stemming from the shift to a low-carbon economy are equally critical. These risks include rising costs due to carbon pricing, market effects, technological changes, legal liabilities, energy efficiency regulations, and reputational risks, all of which can impact property values.

Understanding transition risks

Transition risks in real estate arise from regulatory changes, market dynamics, and evolving stakeholder expectations as the world moves toward sustainability.

Key risks include:

• Regulatory and policy shifts: New energy efficiency and carbon emissions regulations are being implemented globally. For example, the European Union’s Energy Performance of Buildings Directive requires significant retrofitting to meet energy standards. Non-compliance could lead to hefty fines and reduced net operating income.
• Market repricing and stranded assets: Properties not meeting sustainability standards risk depreciation or becoming ‘stranded’ assets. Investors are increasingly favouring low-emission properties, applying higher discount rates to those seen as high-risk due to potential regulatory changes. This trend affects liquidity and raises financing costs, prompting a reassessment of investment strategies.
• Technological advancements and obsolescence: While innovations in green technologies, like smart building systems and renewable energy integration, can enhance property value, they pose risks for older buildings. The challenge lies in balancing retrofit costs against potential increases in market value and operational savings.
• Reputation and stakeholder pressure: Real estate companies face growing pressure from investors, tenants, and the public to demonstrate sustainability commitments. Failing to meet these expectations can result in reputational damage, loss of investor confidence, and reduced access to capital.

Also Read: The climate change and gender equality connection: How to support underfunded women-owned business

Key factors influencing transition risk

Two key factors play a significant role in measuring transition risk in real estate: the costs associated with retrofitting buildings to lower energy consumption, greenhouse gas emissions and technological advancements. The expense of reducing greenhouse gas emissions tends to increase non-linearly; the greater the desired reduction in energy use, the higher the incremental cost.

Fortunately, technological advancements are expected to gradually lower these costs, with potential reductions in energy expenses ranging from 15 per cent to 95 per cent.

Both property owners and occupiers can contribute to reducing carbon emissions, though property owners generally have more direct influence. Depending on a building’s age and design, retrofitting can sometimes be more costly than demolishing and rebuilding from scratch. However, even minor modifications can yield significant benefits. It’s also important to consider that demolishing a building generates carbon emissions.

To illustrate, achieving a 75 per cent reduction in carbon emissions could cost a property owner roughly US$500 per square meter or US$46 per square foot. Some property owners, particularly those committed to environmental sustainability or with larger financial resources, might opt for retrofitting despite it often being more expensive than demolishing and rebuilding.

Strategic approaches to mitigate transition risks

To navigate these transition risks, real estate firms must adopt proactive strategies:

• Portfolio decarbonisation: Aligning with global climate targets requires setting clear emissions reduction goals, conducting energy audits, and implementing upgrades. Green certifications like LEED or BREEAM can enhance asset appeal to ESG-focused investors.
• Dynamic risk assessment and scenario planning: Incorporating climate risk scenarios into traditional risk assessments helps firms anticipate the financial impact of various transition pathways. This proactive approach allows better positioning against future regulatory changes and market shifts.
• Leveraging green financing instruments: Green bonds, sustainability-linked loans, and other green financing options provide capital for sustainability initiatives. These instruments often come with favourable terms tied to environmental performance, encouraging further investment in green practices.
• Enhancing data transparency and reporting: Digital tools like IoT and AI can be utilised for real-time energy monitoring and predictive maintenance, optimising building performance. Enhanced reporting aligned with frameworks like TCFD or GRESB improves compliance and investor confidence.

Also Read: What startups need to know about Claims Code, the new rulebook for making credible climate claims

• Tenant engagement and collaboration: Green leases, where tenants share energy responsibilities with property owners, foster collaboration on sustainability goals. Such agreements incentivise both parties to invest in energy efficiency and waste reduction initiatives.
• Geographic diversification and asset resilience: Geographically diversifying assets can reduce exposure to region-specific regulatory risks. Investing in climate-resilient infrastructure, such as flood defences and advanced cooling systems, helps maintain asset value amidst evolving climate conditions.

Conclusion

As the shift to a low-carbon economy accelerates, real estate firms must navigate the emerging transition risks by embracing sustainable practices. By focusing on proactive strategies such as portfolio decarbonisation, dynamic risk assessment, green financing, and tenant collaboration, firms can mitigate these risks and position themselves as sustainable real estate market leaders. Embracing sustainability is not just an ethical or regulatory obligation but a business imperative for long-term success in a future low-carbon economy.

Accacia’s climate risk assessment platform helps real estate stakeholders navigate challenges by providing advanced analytics, enabling investors and developers to meet regulatory standards and focus on resilient regions, shaping a sustainable future for Singapore’s built environment.

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In the retail business, only one thing really counts – sales. If you are not selling the products on offer in your store, you will not be in business for long.

Historically, retailers have tried various tactics to try to get consumers to spend more money, some of them successful, some of them not.

For a long time, using promotions was a tried and tested method of getting consumers to “buy-in” to a particular store or a particular brand.

This was especially true before the advent of online shopping when consumers had to physically go to the store, and spend time there exposed only to the brands and offers of the store manager’s choice.

That day is long gone.

Nowadays, omnichannel consumers are comparing products and prices online before ever entering a bricks-and-mortar store, and when they do, they have a device with them to compare and research on the fly.

So, the question is: how can online retailers cash in on uber-connected consumers and get them to spend money in their online store as opposed to someone else’s?

The answer: gamify.

Defining gamification

Gamification is nothing new. Modern educational organisations use numbers, letters, and ranking systems to motivate students; military institutions, on the other hand, have been using badges and rankings for much longer.

What is relatively new, however, is gamification in a digital retail context.

Opinions differ on the best definition of gamification in this digital context, but the following general definition works well: “Gamification is the use of game mechanics and game design techniques in non-game contexts.”

Non-game contexts like, for example, online shopping.

Also Read: 3 reasons why cryptocurrencies and gamification go hand-in-hand

But can inserting a game-like element into your online store really make a difference to your bottom line? Well, in a word, yes. It all comes down to motivation.

Motivation

To market any product to anyone, we need to understand customer motivation. “What drives our potential customers to behave in the way they do? Why would they spend their precious time and (hopefully) money on our products or services?”, says Kirsty Robinson, the business owner of Up8 Marketing, specializing in design and marketing.

A successful marketer, therefore, is one who understands what motivates consumer behaviour. But that’s not enough. The marketer must then go on to validate the motivation and present a suitable solution to the consumer.

Motivation, however, can be broadly divided into two subtypes: intrinsic and extrinsic.

Intrinsic motivation is what drives us to perform or complete a task simply for the enjoyment of performing or completing said task. It could be a sport that we play just for the fun of it or a puzzle that presents us with a stimulating challenge.

Extrinsic motivation, on the other hand, is what drives us to perform or complete a task so that we can earn an external reward or avoid a punishment. Closely related to the pursuit of money, achievement, social status and respect, extrinsic motivation is what drags most of us to work in the morning, the gym in the evening, and urges us to buy that new dress, piece of jewellery or sports car.

If we dig a little deeper into motivation, six perspectives can be differentiated, which can become relevant in gamification.The six perspectives of motivation:

1. Trait

Individual characteristics such as the need for achievement, power, and affiliation. Individuals with these traits can be motivated if the gamified element emphasizes success, competition, and membership.

2. Behaviourist learning

Performance-based immediate feedback influences the probability of future behaviour. Individuals are motivated by immediate feedback, either positive or negative, and by the offer of rewards.

3. Cognitive

Motivation is dependent on situation-specific goals, expectancies, and values of consequences. Individuals are motivated if the gamified element contains clear and achievable goals and highlights the consequences of those goals.

4. Self-determination

Especially relevant for fostering intrinsic motivation, as mentioned above. Individuals are motivated by experiencing feelings of competence, autonomy, and social relatedness.

5. Interest

A content-specific motivational variable that evolves in interaction with the environment. Individuals are motivated by their relation to the subject matter of a task or environment.

6. Emotion

Cognitive and motivational processes can be influenced by instructional strategies. Individuals can be motivated if gamification decreases negative feelings like fear, envy, and anger; and increases positive feelings like sympathy and pleasure.

These motivational elements apply to all of us at some point or another, but another major contributing factor is personality.

Personality Type

Just like opinions, we’ve all got one. And by the time we reach adulthood, our personality is pretty much fixed. (Just like viewpoints, we’ve all got one. And by the time we reach maturity, our personality gets pretty much fixed.)

In gamification, personality types, or player types as they are often referred to, are split into four types:

1. Achievers – They are all concerned about points and status.

2. Explorers – Not bothered much about badges, but they want to see new secrets.

3. Socializers – They are fond of experiencing fun through interaction with other gamers.

4. Killers – They hold a winning attitude. Extremely happy to see other gamers lose.

In eCommerce, we are not in the business of designing games per se, so we can leave socializers and killers out.

Achievers and explorers, however, make up a huge slice of your potential customers; and it is these two personality types you can really engage with by adding gamification elements to your online store.

Buyer personas

Aspects of our personalities are often used by companies to build buyer personas.

Market research and real customer data are combined with certain personality types to create hypothetical customers. Marketing and sales departments use these buyer personas to plan their activities based on the perceived motivational factors that influence the personas.

In short, we attempt to appeal to imaginary unchanging consumers. But the very concept of an unchanging customer is naive at best and has to be complemented with contextual information. Our personalities may not change, but our needs do, as well as our moods.

For example, there are times when consumers are looking for a specific product and will be very focused on their activities to find the product they want. Any other product that is not relevant to their needs will be quickly filtered out or ignored completely.

At other times, however, consumers might not have a clear idea of what they are looking for; they may well be simply using the internet to find inspiration. With no clear need to be fulfilled, their mood plays a bigger role, and they are therefore far more susceptible to products that appeal to their mood.

So although the consumer was the same person in our scenario, their behaviour was very different due to their circumstances (context).

This scenario occurs all the time in online retail. Sometimes a potential customer will enter your site with a very specific need. It is often the case that the person will have done some Google research first, and will enter your site on a specific product page, having been directed there from Google. This is clearly a non-game context, but by gamifying the product page, you can turn the visit into a profitable customer action.

At other times, a visitor may stumble upon your online store while browsing. Using a gamified element on your front page to motivate a casual browser can result in a conversion that would otherwise have been a simple bounce.

In layman terms – by offering your customers, casual or otherwise, some variety of reward for interacting with your store, you provide them with the motivation to proceed and significantly increase the chances of conversion.

With the sheer amount of information at hand via Google, if a consumer has found their way to your online store, they are almost certainly interested in something that you offer.

However, the ubiquity of choice will come into play if you cannot provide them with a reason to stay in your store and buy from you.

A big appreciation to Rob Brooks for providing deep insights on the applicability of Gamification for eCommerce sales.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

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Image Credit: Zany Jadraque

This article was first published on October 16, 2019

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Startup pitching competitions are for those who are ready to commit. These long-running events require passionate entrepreneurs to dedicate attention and resources over a period of a few months, or even travel overseas for inter-country competition.

After all the hard work put in, the results may not be satisfactory, and you may even realise your business idea is ill-conceived resulting in failure. For some, a pitching competition is for exposure while some come with an MVP ready to win cash money to grow and make their product known.

Here’s a summarized list of things to take note of when preparing to participate in a pitching competition.

1. Consider the competition

First thing first, register for the correct competition. If your business idea is focused on sustainability and greening, go for competitions which are themed towards conservation. You will find that the demographics of mentors and participants vary greatly from the theme of the competition.

Also Read: Let the games begin! The Top100 get set for the best pitching competition in Southeast Asia

By meeting people who are also working on ideas that answer a similar issue, you will find that the takeaways are much more applicable for improving your business.

Another thing to consider about the competition is the location. If you do not have the finances to travel, then sticking to local competitions will have to do. Imagine going for a three-day competition to France from Singapore.

The flight, accommodation and food costs will be significant. Unless the competition has a budget to sponsor teams in the finals. Even then, check whether there is a need to travel out of your home country for the earlier stages of the competition as those may not be sponsored.

2. Building strategic partnerships

Needless to say, most business successes rely on the ability to build a strategic partnership. At a pitching competition, you get to meet like-minded people who can add value to your business in some way. Start working on your networking skills before the competition.

It helps if you can make a lasting impression on the audience and judges. Find out in what ways you can shine. Experimenting in front of the mirror allows you to practise both your non-verbal and verbal communication.

Start by preparing a short introduction on your business idea which you will find useful when networking.  It helps to also take a recording of yourself to look back and consider if you have carried your body posture with confidence, or whether you enunciate your words correctly.

3. Practise your pitch

The method mentioned above generally works for pitches as well. But another main issue even experienced entrepreneur must tackle is the time limit set for each pitch. You find that you have so much to say yet too little time to get your idea across? Well, that should not be the case.

The time limit set for different stages of the competition all has its purpose.

As the competition builds up to the finals, the time limit gets longer, and you find that you have more time to describe your idea in detail. But what about the earlier stages? Hit hard on the main attraction.

Instead of trying to explain how your business works be short and sweet. Tell the judges what your business is, who it is for and how they benefit.

If your competition has a theme which most do, make sure you answer that too. Make sure to articulate the problem you are solving clearly. This will keep your judges attentive and a clear understanding of the relevance of your business.

This not only helps you keep track of your time it also allows you to practise your pitch over a few times which can give a better presentation even when you get the nervous jitters on the competition day.

Additionally, you may want to consider getting a few friends to observe your pitch and have them ask you questions. That way, you may be able to anticipate questions the judges will ask and be more confident when answering them.

Also Read: How should founders dress when pitching your startup to a VC?

Get your friends to pay attention to any possible habits that you have such as standing your weight on one leg, keeping your hands in your pockets, etc. These are things which are hard for us to pick up ourselves so having others watch and providing feedback can help.

4. Constantly receive expert feedback

With your business introduction ready, you can start conversing with experts and professionals during the pitching competition. The more you do that, the more likely you are to receive valuable feedback.

There is no successful business that rejects the input of feedback. By pitching your idea to people, they may see a potential error or loophole in your business which you are unable to spot.

This is normal and that is the reason we should speak with mentors who have built upon years of failures and successes.

They can provide the expertise new entrepreneurs require to help their business grow by building a suitable mindset needed at various stages of a business.

Hence, work with mentors before during and even after the pitching competition who are experts in your enterprise. When meeting mentors, always ask yourself this question: How can they be of help to your business?

These are the tips that we recommend entrepreneurs to consider before they sign up for any competition. 

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

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Image Credit:

StartupX is an innovation consultancy that specialises in consulting for large corporates, running innovation challenges, internal hackathons, innovation workshops, demo days, roadshows, recruitment drives and any related startup-corporate events.

We are community builders, innovation catalysts and changemakers supporting the early-stage startup ecosystem in Asia. To find out more about this competition, visit the StartupX website and follow theStartupX Facebook and Instagram accounts for more updates.

This article was first published on October 14, 2019

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Starting a business is never easy, but building a leadership development company from the ground up has been one of the most challenging—and rewarding—experiences of my life, especially since I incorporated in May 2020, at the height of COVID-19.

From navigating uncharted waters as a first-time founder to weathering economic shifts, market changes, and personal hurdles, I’ve learned that resilience isn’t just a buzzword—it’s a survival skill! The biggest hurdle I faced was going from old school founder to new age digital creator.

My journey has been filled with uncertainty, but it’s also been a powerful teacher, shaping my approach to business and life in ways I never expected.

The early days: A leap of faith

When I first decided to launch my leadership development company, I knew I was stepping into the unknown. I came from humble beginnings, with no family background in business or entrepreneurship to guide me.

My decision to start this journey wasn’t rooted in a perfect plan but in a deep belief that I could make a difference in the lives of leaders who, like me, often struggled with feeling overwhelmed and undervalued. From my days in consulting and working with highly competitive industries, I always knew I wanted to make a difference to rid the world of corporate toxicity. (Cue the Horrible Bosses movie).

The early days were tough. I was learning as I went, often making mistakes that left me questioning my path. There were moments when the pressure felt insurmountable, especially as I juggled the responsibilities of a caregiver alongside building my business. Yet, every setback became an opportunity to learn and grow, pushing me to become more resourceful, adaptable, and focused.

The failure I went through lasted 19 months, and here are the top three lessons I learned:

Lesson one: Embrace uncertainty as a catalyst for growth

The first major lesson I learned was that uncertainty is not the enemy. In fact, it’s often the best catalyst for growth. There were countless times when I faced decisions without clear answers—pivoting business models, managing cash flow in lean months, or adapting to shifting client needs. Instead of resisting the unknown, I started to see it as an invitation to innovate.

Also Read: How South Korea’s smart city startups curbed the spread of COVID-19

One of the most pivotal moments came when I realised that my approach to uncertainty was shaping my company culture. By embracing challenges with a mindset of curiosity rather than fear, I created a space where my team and I could experiment, take calculated risks, and find new solutions.

They taught me and I guided them. Same as what we guide leadership through, connected leadership for peak performance. This adaptability became a cornerstone of our success, allowing us to navigate the ups and downs with resilience and creativity. Knowing we are united as a team.

Lesson two: Resilience is built through self-compassion, not just grit

Resilience is often portrayed as a relentless drive to keep pushing forward, but I’ve learned that it’s just as much about knowing when to pause, reflect, and take care of yourself. A heartfelt resilience instead of a “not listening to your intuition” resilience. As a leader, it’s easy to fall into the trap of constant hustle—believing that you have to be “on” all the time. However during periods of high stress, I found that the key to maintaining resilience was actually self-compassion.

I started setting boundaries, prioritising my well-being, and allowing myself the grace to make mistakes. This shift not only helped me avoid burnout but also made me a more empathetic and effective leader. When I showed up as my best self, I was better equipped to guide my team through challenges and inspire them to stay resilient, too.

Lesson three: The power of connection and community

In times of uncertainty, connection becomes a lifeline. I learned early on that I couldn’t do this alone—I needed the support, wisdom, and encouragement of others. Whether it was leaning on mentors, engaging with fellow entrepreneurs, or simply being vulnerable with my team, these connections helped me stay grounded.

Building a community around my business also became a strategic advantage. By fostering authentic relationships with clients, partners, and industry peers, I created a network of support that amplified our impact. It reminded me that even in the face of uncertainty, we are never truly alone; there’s always a collective strength to draw upon.

Shaping my long-term strategy: Resilience as a business imperative

The lessons I’ve learned are not just personal—they’re actively shaping the long-term strategy of my business. I’m focused on creating a company that thrives amid change, not just survives it. This means investing in ongoing learning and development, embracing flexibility in our offerings, and maintaining a culture that values well-being as much as performance.

Also Read: 3 easy ways for startups to attract global customers

One of my key priorities moving forward is to embed resilience into our leadership programs, teaching others the skills and mindset shifts that have been so transformative for me. By helping leaders build resilience, I believe we can create ripple effects that extend beyond individual success, positively impacting organisations and communities alike.

As I look ahead, I’m committed to leading with intention, compassion, and a willingness to adapt. The road may be unpredictable, but I’ve learned that uncertainty is not something to fear—it’s a powerful force that, when harnessed, can lead to profound growth and transformation.

A final boost

If there’s one thing I want to leave you with, it’s this: resilience is not about having all the answers. It’s about showing up, learning, and adapting—day after day, even when things feel uncertain. Knowing that growth is led by you but also as a team, a collective, an ecosystem rising.

As I continue on this journey as a founder, I’m grateful for every lesson, every challenge, and every moment of growth. They’ve not only shaped me but have also laid the foundation for a business that I’m proud to lead into the future. Always appreciate your connections and stand strong for your purpose and why you built your idea. This in itself will get you through the rough seas and into calm waters.

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Over the past decade, I have started five businesses. As serial entrepreneurs, we are constantly thinking of new businesses and ways to innovate. While it is always exciting to explore new ideas, we know that the challenge lies in execution. Running a startup results in two extreme scenarios. You either love it or you hate it. There is no such thing as sitting on the fence.

The working pace in a startup could be dynamic to some, and agonising to others. Here are some areas that are crucial to a start-up’s success.

1. Get a co-founder

I believe that you should not start a business alone.

Statistically, businesses with two or more founders are more likely to succeed. Striving alone in a startup is tough. A co-founder is able to support you during these tough times.

Do not settle on a co-founder just because you have to fill the position. You need a co-founder whose strengths complements your weaknesses.  It is not easy to find someone who agrees with you on directions and vision for the business.

Be specific about the roles and responsibilities of each co-founder before you embark on a working relationship together.

Before I started Doxa Holdings, I wasn’t sure if I should start another business. I knew that I had my limitations. This was when I met my Co-founder, Leon Yeo, in church a couple of years ago.

We come from vastly different backgrounds and possess different skill sets.  I have been in the startup world, while Leon came from multinational corporations. After working together, we realised that our varied strengths and experiences are complementary to the business journey – from executing ideas to scaling growth.

2. Develop a business plan together

Once you have found the right partner who shares your vision, it’s time to get cracking on a great business plan. It’s important to develop a business plan with your co-founder.

Also Read: Rise of the social entrepreneur: can doing good be good for business?

There will be greater ownership over the business when you work on it together. Do remember that the business belongs to both of you. You should not work alone.

I strongly believe that the best plans are simple. They are not complicated or over-ambitious. Our plans need to be realistic.

3. Investor reporting

All start-ups need financial support. Securing the first round of funding is not going to be easy as you are starting from ground zero. You need good ideas with a reasonable go-to-market strategy.

How do you justify your business’ valuation? Do be mindful that if the valuation in your first round is high, it is going to be even higher in subsequent funding rounds.

When I was running my first business, I avoided reporting to investors. I had initially thought that my investors would slow me down. This was a mistake.

My investors wanted me to succeed. They can bring fresh ideas to the table or support you in clearing any potential roadblocks.

Upon starting Doxa Holdings, we have invested time in reporting to our investors. We implemented three ways of reporting to our investors:

1. a global group chat where we share quick wins

2. a monthly report

3. quarterly meetings where we share updates

Communicating regularly with our investors builds trust. As a result, some investors have increased their investments in the company. We are truly grateful for their support.

4. Network and connection

It is important to plan how you’re going to build up the network that your business requires. It doesn’t matter if you have a great business model.

What matters is that people know about your business model. Your network is crucial in supporting you to develop, launch the product and get your first few customers onboard.

5. Avoid working with big brands

While bigger brands look great on your portfolio, you need to spend loads of time discussing and negotiating with multiple stakeholders.

Timing is crucial when you are starting out. Survival of the business should be the focus. Bigger firms do not usually give you immediate returns. They take much longer to nurture. Time equates to costs.

In another start-up that I used to manage, we pitched for a project that was worth approximately $2 million. We invested valuable time in discussing and engaging stakeholders.

While we did eventually clinch the deal, It was challenging to sustain the business while nurturing the client as we had to deal with the client’s long payment terms and approval processes.

6. Be flexible

Startups have to scale fast. They require the ability to adapt. Whenever there are changes to the approach, the team needs to be flexible in taking on a new direction.

It is important to not be emotionally attached to your business idea but rather, to move with the demand of your customers.

7. A receptive mind

You may have mapped out the process and strategy. But, things often do not go according to the plan. It is crucial to be open to feedback and adjust your business model accordingly.

8. Limited funds

Handling of funds is one of the most crucial undertakings. No matter how much funding you secured for the business, you need to realise that it is never enough. Bootstrapping is key.

Also Read: A simple recipe for building trust in zero-to-one startup ideas

Startups often get carried away when they get a new round of funds. You may invest a hefty sum into developing a new product that is going to be a game-changer. But, consumer behaviour is unpredictable.

It is a problem if you are hunting for funds to pay your start-up’s monthly expenses. This may prolong the runway of the business but it is not sustainable.

The business is losing money every day. You should be looking at adjusting the business model and identifying ways to reduce your expenses.

9. Stretch your dollar

Building on the previous point, it is important to stretch your dollar. You should justify every amount spent.  With every expense incurred, your startup should expect to reap multi-fold in terms of results or benefits.

Do not be ashamed of being a start-up with limited funds.  We often tell people we meet that we have a very tight budget.

When we first started, we never thought about renting an office space. We met and did our work in cafes and libraries. It’s okay to start small and prioritise your spending. Our office space is currently sponsored by TechCircle.

10. A multi-tasking team

Without a strong and lean team, you may be overwhelmed. You need a few main functions in your team — business development, finance, technology and marketing. It is important to fill these roles at the start.

Conflict resolution is also key. Working in a start-up can be extremely stressful. There is bound to be conflicts and disagreements. Hence, rules need to be established.

This is to ensure that everyone is aligned with the direction and vision of the start-up. We need to work as a team and complement each other to achieve a shared vision.

11. Perseverance and commitment

Many of us would have thought about starting a business in various points of our lives. How do you determine if a start-up is going to succeed? I personally feel that every business will succeed as long as you do not give up on it.

If you focus on improving and adapting, there is no way that your startup will fail.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

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Image Credit:  Sergey Zolkin

This article was first published on October 8, 2019

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You have a kickass mobile app idea and cannot wait to have it developed? Hold on to that thought for a bit.

So, the vision is clear, the ambition is high, and the drive to succeed is there too. But going all in on a product without testing the market can be a costly mistake. To test the potential of your app and its chances of success – you need an MPV, aka Minimum Viable Product.

An MVP is a stripped-down version of a product that includes only its core functionalities. It is not a half-cooked product or an app that barely works kind of situation. It is a fully-functional mobile app with just enough features – hence called minimum viable.

It is designed to solve a specific problem or fulfil a particular need while allowing businesses to test their assumptions, gather feedback, and make changes if needed. Launching an MVP before diving headfirst into full-scale product development can save you from major blunders and failures.

I’m not sure if you really need to take the longer route by launching an MVP first.

Let’s talk about why it is crucial.

Validate market demand early

One of the greatest risks of building a fully featured product without an MVP is investing significant resources in something the market might not need or want.

An MVP allows businesses to gauge interest, test hypotheses, and assess customer reactions to core features. It ensures that before you spend millions, you are confident the problem you are solving is real and that people are willing to pay for it.

And most major companies started like that. Dropbox began as an MVP with a simple explainer video and basic file-sharing functionality. By launching the MVP, Dropbox could test whether people would find value in their product without building out the complete suite of features. The result? An overwhelming response, proving market demand, and validating further investment.

Reduce development costs

Building a full-scale product requires substantial capital and higher risks. You can minimise upfront costs with an MVP. Instead of building every potential feature, focus on developing the essentials, saving on resources and time. The feedback gathered during this phase will guide further development, preventing the risk of a full failure.

Also Read: What led to UAE becoming a major tech hub?

Even Zappos, now a multi-billion-dollar company, began as an MVP where founder Nick Swinmurn tested demand for online shoe shopping by posting pictures of shoes from local stores. He didn’t build the full inventory or logistics system before validating that people were interested in buying shoes online.

Launch sooner

An MVP enables companies to get to market faster, avoiding delays caused by trying to perfect the product. And first-mover advantage can be crucial. An MVP can help secure that position. Launching quickly also provides the opportunity to adjust to market changes, pivot if necessary, and stay ahead of competitors.

Just like Airbnb started with just a simple website to rent out air mattresses in the founders’ apartment during a conference, tested out stuff, and soon turned into a global marketplace for short-term rentals.

Mitigate risks

Launching an MVP helps businesses mitigate the risk of failure. By building and testing, companies can adapt and iterate based on real data. This helps improve the product and reduces the likelihood of investing too much in a direction that may not work.

Having an MVP in the market gives you the space to identify opportunities and challenges, minimise risks, and ensure you launch a product that your audience would love!

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In today’s fast-paced business landscape, companies face an array of complex challenges, from navigating digital transformation and fostering innovation to ensuring sustainable growth and making a positive societal impact.

For startups and established enterprises alike, the need for tailored, strategic solutions has never been more critical. Many organisations grapple with questions around scaling efficiently, achieving a competitive edge, and aligning business goals with the greater good. These pressing concerns call for a unique blend of expertise and an innovative approach to strategy.

Enter Boston Consulting Group (BCG), a global leader in business consulting that partners with organisations to tackle their most significant challenges and seize their greatest opportunities. Founded in 1963 as a pioneer in business strategy, BCG continues to push boundaries, working closely with clients to drive transformation that benefits all stakeholders. The firm’s mission is clear: to unlock the potential of those who advance the world.

Innovating for impact and disrupting industries

BCG’s approach is rooted in a commitment to collaboration and a belief in the power of diverse perspectives to question the status quo and inspire change. With a global team of experts in various industries and functions, BCG delivers solutions that combine cutting-edge management consulting, technology, design, and corporate and digital ventures. This multifaceted approach allows BCG to provide customised strategies that not only drive business growth but also foster sustainable competitive advantages and societal benefits.

The prolonged funding slowdown in Southeast Asia, which has persisted since the end of the COVID-19 outbreak, continues to weigh heavily on the region’s startup ecosystem. According to the SE Asia Deal Review by Singapore-based financial news site DealStreetAsia, startups in the region raised only US$1 billion in equity funding between January and March 2024, marking a 41 per cent decline from the same period last year and less than half of what was raised in the final quarter of 2023. 

With 180 deals completed this quarter compared to 193 a year ago, the downturn shows no signs of easing. This underscores the vital need for startups to regain investor trust and demonstrate their potential for growth and scalability. 

As such, the role of strategic partners like BCG becomes more crucial than ever. BCG’s expertise in crafting tailored business strategies can help startups navigate these turbulent waters, rebuild investor confidence, and position themselves for sustainable success in a highly competitive market.

Also Read: inDrive: Discovering community-driven transportation options for global commuters

BCG’s unique collaboration model spans all levels of the client organisation, ensuring that solutions are not just designed but also implemented effectively, empowering organisations to thrive and make a positive impact on the world.

Empowering businesses across industries

BCG’s deep industry expertise and strategic insight make it an invaluable partner for businesses across a diverse range of sectors. From Aerospace and Defence to the Automotive Industry, BCG helps companies navigate complex market dynamics and drive innovation. 

In Consumer Products, BCG supports brands in understanding evolving consumer behaviours and enhancing operational efficiency. The Education sector benefits from BCG’s approach to transforming learning models and improving outcomes, while Energy companies gain from strategies focused on sustainability and transitioning to greener practices. 

For Financial Institutions and the Insurance Industry, BCG provides critical guidance on risk management, digital transformation, and customer experience enhancement. In Health Care, BCG works to optimise patient care and streamline operations, while Industrial Goods companies leverage BCG’s insights to improve manufacturing processes and supply chain management.

BCG also offers strategic support to Principal Investors and Private Equity firms, helping them identify investment opportunities and maximise portfolio value. In the Public Sector, BCG partners with governments to improve service delivery and policy outcomes. Retailers benefit from BCG’s expertise in omnichannel strategies and customer engagement, while Technology, Media, and Telecommunications companies gain a competitive edge through BCG’s digital and technological innovations. 

Transportation and Logistics businesses rely on BCG to enhance efficiency and adapt to changing market demands, and in Travel and Tourism, BCG provides strategies for growth and resilience in an evolving landscape. Through this wide-ranging expertise, BCG equips businesses to tackle their unique challenges and seize new opportunities for growth and transformation.

BCG will participate in Echelon Philippines 2024, a premier event for tech startups, entrepreneurs, and investors in Southeast Asia. By engaging with the vibrant startup ecosystem at Echelon, BCG aims to connect with some of the region’s most exciting innovators, share insights, and explore opportunities for collaboration. This involvement underscores BCG’s dedication to supporting business leaders and entrepreneurs in their journey towards growth and success.

“We are looking forward to exchanging insights around consumers and hyper growth business models with visionaries and leaders in the startup space across Philippines and Southeast Asia,” said Julian Cua, Managing Director and Partner, BCG. The event will serve as a platform for BCG to deepen its connections within the region and support startups in navigating their most pressing challenges.

Also Read: Overcoming obstacles: A new entrepreneurial playbook for Filipino startups

Meet Boston Consulting Group at Echelon Philippines 2024

Boston Consulting Group invites attendees to connect and learn more about their transformational approach to business strategy at Echelon Philippines 2024. This event offers a unique opportunity to engage with BCG’s experts and explore how their innovative solutions can help your organisation overcome obstacles and unlock new opportunities.

Boston Consulting Group is among the many dynamic industry leaders joining us for Echelon Philippines 2024. Alongside them will be other key leaders, visionary entrepreneurs, and innovative startups from across the region. They will converge for an action-packed two-day event on September 26-27 at Level 2, SMX Convention.

Echelon Philippines 2024, hosted by e27 in partnership with Brainsparks, offers dedicated content stages, exhibitions, panel discussions, and much more — all designed to support and empower the regional tech startup ecosystem with practical insights through various knowledge-sharing activities.

Whether you’re looking to expand your expertise, connect with influential figures in the tech startup world, or present your groundbreaking ideas, Echelon Philippines 2024 presents an unmatched experience sure to give you and your company a boost. Secure your spot now on our official page and join us as a participant or an official partner. Together, we can shape the future and create a lasting impact.

Join us at Echelon Philippines 2024, where innovation knows no boundaries and the possibilities are limitless!

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Today, the competition in business is so vast that acquiring your target audience has turned into a real nightmare. Everybody is working like crazy on growing their visibility and their brand. If you want to stay in this competitive race and extend your reach, now is the time to consider podcasting.

Yes, I know it’s not a talk of the year in the domain of email marketing and it’s not an entirely new strategy either, but its popularity is rapidly growing.  And why is that? The answer is simple – there are not many things more personal than the sound of the human voice and people have finally become aware of this audible connection with the audience.

The bottom line is: people are listening and they want to hear from you, too. To be honest, they want to hear everyone because every person will share their unique perspective on the current conversation. So what you basically need to do is to just get involved – by active participation where you challenge the status quo and share new insights you will get yourself and your business introduced to a new audience.

The power of voice

So almost all the power of podcasting lies in your own voice. The key is to make it recognizable above all the others that audience hears on a daily basis. If you’re skeptical about this just take a look at the fact that only two words are enough to distinguish the voice of a relative or a friend among other voices.

It is like in the old days when the family gathered around the radio on quiet evenings, everyone was doing their own thing – the father may be reading the newspapers, the mother may be ironing, and the kids would be playing. Listening to podcasts allows you to multitask, making it very popular.

What’s it worth?

First things first, and we all know what you want to hear about at the very beginning – the cost of creation.  All you need is a small studio. To be honest, your biggest investment will be a decent quality microphone and a podcasters’ favourite, the Blue Yeti USB, is available for around 100 bucks.

Along with that, you’ll need a set of headphones and probably a pop filter in order to reduce or muffle unwanted ambient sounds. This is basically everything you’ll need to invest and, as you can see, it’s much smaller investment than a video equipment.  If you don’t have enough space in your home for a studio because it’s crowded with the stuff ‛you’ll need one day’, a very reasonable monthly storage costs will persuade you that you can always free a small amount of space that this kind of studio requires.

As far as the editing is concerned there are a lot of free editing software out there, such as GarageBand for Mac or Audacity for PC. Now that you’ve checked your wallet let’s get to the benefits part.

Anyone, Anytime, Anywhere

First of all, you need to know precisely what you want to talk about. You’ve probably noticed that there isn’t ‛Anything’ in the title above, and there’s a pretty good reason for it. Your brand is not about anything and it has a target audience, so your podcast needs to be a niche just like your blog.

Actually, your blog can be really helpful in finding your podcast niche – just take a look which posts on it resonate the most with the audience. What questions do they pose? Social media is also a very good source.

The point is that you need to know your audience and to be aware of the things they want to know the most. That will help you set the goal in your mind and help you determine what exactly are you trying to accomplish with the podcast, enabling you to become more specific with every step you take.

Ok, now let’s take a look at that ‛Anyone’ moment. The whole point is to position yourself as an expert. That’s not that hard as it sounds – your authority will rise just with the consistent hosting of the podcast, but you’re going to need to build some of it in the beginning.

Also Read: [Podcast] The Jay Kim Show with Commutifi CEO Rich Schmeizer

That is also easy enough – all you have to do is to learn as much as you can about a specific topic. It’s all about who has the most of the information – if you’re able to fill up a series of a 15-minute podcast you will already be considered an expert. The fact that you’re providing the audience with your valuable insight for free will make them see you as an authority, that’s guaranteed. It’s not about spending half of your life doing something, the point is just to know a little more about the subject than the average listener.

Nonetheless, including real experts in your podcast is always a plus. If an interview is a part of your podcast format a guest expert will always make things more interesting because people love two (or even more) voices in the conversation. On top of that, the experts you invite will share your podcast with their audiences, too.

Don’t be reluctant to invite a really big name expert – the worst that can happen is them saying ‛no’, but often the answer is positive. Once you get it just remember to represent it accordingly to its name in order to attract the audience.

And, finally, that last ‛Anywhere’ is not connected just to the multitasking we mentioned before. At least not directly. The point is that people don’t have an infinite amount of time for a podcast, either. That’s why you can’t make it go on for hours. You need to keep it short, meaning up to 30 minutes. On the other hand, there are people who just can’t handle the multitasking. They would rather free some time to sit in front of the computer and read.

That’s why it’s very important to provide people with written notes from every episode, or just simply turn your podcasts into blog posts. This repurpose will reach people that prefer the written word and make sure you won’t lose your blog audience. It is an easy process and with numerous transcription options, you won’t even have to invest time to type.

As you can see, for on a relatively modest budget, you’ll be able to reach a relevantly wider range of audience. To attract them and keep them engaged all you need to do is to inform yourself and follow the latest news and trends. Don’t be afraid to invite some real experts from time to time and keep in mind to provide transcription if possible.

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Image Credit: dolgachov / 123RF Stock Photo

Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

This article was first published on March 19, 2018

The post How to use podcasts to enhance your brand visibility and reach appeared first on e27.