WHAT drives you to start your own business?
From the comfort of a well-paying position to the uncertainty of starting something and building it up with no assurances that it will take off in the way you’d like it to, that sense of adventure has driven the panellists at the WED WEB CHAT — So, You Want To Start A Business… to plunge into their own endeavours.
From raising funds and finding partners to help grow the business, to marketing and developing exit strategies, their journeys are distinct and their lessons quite relevant, especially for others venturing forth on their own.
During the WED WEB CHAT, they spoke candidly about working lean, raising funds, using technology like Gen AI, building a social media presence, and when the right time would be to make a tough call, be it to sell the business or pull the plug.
Shalu Wasu, Co-founder, gimmefy
Shalu Wasu spent many years in large firms handling marketing strategies. He took his personal experiences and challenges and worked them into gimmefy, a platform to help marketers swiftly get through the nitty gritty of their craft and spend more time on larger issues.
“And this is what I’ve learned…where AI cannot do 100% of the work, it can help to save 70, 80, 90% of the time that we put in into a variety of marketing tasks.”
Christopher Chew, Founder Avventura
Christopher Chew has made full use of his 30 years of extensive experience in the media and entertainment industry to build a company that brings immersive entertainment to audiences.
“In spite of the dangers that AI poses in creating fake news or fake images and video, I think everyone should learn how to take advantage of it, and use it for good because there are lots of time and cost savings that can you can benefit from using AI properly.”
Joshua Kalinan, Founder Thirstypalate
Joshua Kalinan spent many decades with Singapore Airlines, honing his skills as a sommelier before beating his own path as a beverage specialist and trainer. From wines to sake, he has established his credentials and now has his own sake label, Thirstypalate.
“You have to think differently when you do something, so it will stand out. Build things slowly. Use social media. And don’t give money to the landlord, if you can help it.”
Following are highlights of the WED WEB CHAT — So, You Want To Start A Business….
The full discussion is at the foot of the article.
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Starting My Own Business
The panellists talk about the motivating factors that drove them to create their respective businesses.
Understanding the why of something can help go a long way towards understanding how the business will perform and how it is set up to navigate changes in the environment.
Using Social Media & AI Tactically
The modern tools of conducting business make life easier. But they may also require constant learning and relearning to get the most out of them.
How did Joshua grow his base of followers to more than 70,000 on Instagram? He provides his formula.
Exit Strategies
Does one plan for an exit strategy?
Some will say that’s a cop out, and a recipe for failure. Others believe it’s a way to build towards a strong selling position or to avoid incurring heavy losses.
Maintaining Your USP
Having brought your product or service to life, how do you continue to keep it fresh, vibrant and relevant when competitors lurk to offer cheaper and enhanced products, or the wants and needs of your audience shift?
Watch the full discussion of WED WEB CHAT — So, You Want To Start A Business… below.
Watch our previous wedwebchats: https://storm-asia.com/category/wed-web-chat/
If you have a topic that is of interest, or have someone who would make a good panellist with a thought-provoking perspective on a subject, please email editor@storm-asia.com with your details and a short summary.
