Seeking Funding? Here Are Five Tips for Creating an Effective Pitch Deck

A bootstrapped startup with a successful business idea and a promising track record needs an infusion of funds to take its vision to the next level. While there are many potential investors in the market, the founders have the uphill task of convincing them that investing will accrue results in the long term. With the odds stacked against them, what can entrepreneurs do to get the funding they want? Statistics indicate that investors fund only 1 out of every 10 pitches they listen to.  Many startups often find themselves in a similar situation when they reach the funding stage. 

The answer to the question above lies in crafting a great pitch deck that can not only make heads turn but also ensure that your venture is funded. A pitch deck is a presentation showcasing a company's product/service, the size of the market, target market, demographics, business model, marketing strategy, competition, team, funding amount and timelines, and the exit for investors. Considering that raising capital can be a difficult task, the founders must ensure that their pitch is compelling and interesting. Here are the five tips important for creating an effective pitch deck that will get you funded:

# Why You?

The three main things you should ask yourself honestly and convey clearly in a pitch deck are:

• What pain points of the customers to your product/service address

• What's your market size today and its growth potential

• Why are you going to be the next billion dollar company and not someone else or your competitors ..

https://www.entrepreneur.com/article/322536

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by Idham Azhari

Virus-free. www.avg.com

Challenges Foreign Companies Face When Setting Up Business in the World's Fastest Growing Economy

Whether you associate this country with temples, modern skyscrapers or prevalent slums; if you are a businessman looking to expand in the world market – you cannot miss India. India is one of the fastest growing economies in the world.

India holds the potential to skyrocket your sales figures and realizing this, the liberalisation in 1991 lead to a massive influx of large foreign companies into the country. Also, the economy has been growing at the rate of 8.2% p.a. However, despite favourable market conditions, countless foreign brands failed to survive in India. Be it the General Motors exit or the closure of Royal Bank of Scotland, there were a number of reasons for their failure in India..

https://www.entrepreneur.com/article/322480

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by Idham Azhari

Virus-free. www.avg.com

Meet Singapore's Top 3 Unicorns Ruling The Billion Dollar Club

As a startup, the journey to becoming a unicorn isn't easy as it sounds. The term unicorn is used for a privately held startup company valued at over $1 billion. According to research firm CBInsights, there are more than 260 unicorn startups all around the world. Singapore, a leading startup hub in Asia, is home to three unicorn companies. With an impressive list of home-grown startups like Grab, ReferralCandy and 99.co, the island nation is also considered as the best place to start a new business.

A report by start-up event promoter Slush Singapore and venture capital firm Monk's Hill Ventures, say in Singapore, start-ups have access to venture capitalists and capital as well as a richer ecosystem. The report highlights that many international VCs already have offices in Singapore. Despite its small size, the country has the highest number of tech incubators in the region as well.

Let's quickly run through the list of unicorns ruling the billion-dollar club in the island nation ..

https://www.entrepreneur.com/article/322438

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by Idham Azhari

Virus-free. www.avg.com

Robots Aren't Taking Over The Job Market Just Yet

In today's technology-driven world, it's not uncommon to see news about the latest advancements in the field of robotics take centre stage. Robots have slowly become an increasingly important part of our lives, making them much easier by automating several tedious and mundane tasks.

More recently, we have all seen or heard news of robots being used for jobs previously only done by living things. From Jeff Bezos' pet robot dog to Lil Miquela, the world's first ever computer-generated fashion influencer, the presence of robots in our lives is ever increasing. In May 2018, popular Indian airline Vistara announced the arrival of 'RADA', a unique robot that uses Artificial Intelligence (AI) technology to assist customers, address their queries and entertain them.

"Innovation is one of the core values ingrained in the DNA of Vistara's culture, which we have fostered within the organization in many ways. RADA is a manifestation of this endeavour. Vistara has disrupted the market through several innovations with the sole objective of redefining air travel in the country while making its processes more robust and resources more effective. With RADA, we aim to change the way people interact and fly with an airline. We will be developing 'RADA' based on customer feedback and equipping it with the most effective features in the time to come. Our steadfast focus remains to be on delighting customers across all touchpoints, and we're confident that 'RADA' will help us take the 'new feeling' to the next level," said Chief Executive Officer Leslie Thng in an official press release...

https://www.entrepreneur.com/article/322325

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by Idham Azhari

Virus-free. www.avg.com

Girlboss to Take on LinkedIn With Its Own Social Network

Girlboss' next move is taking on LinkedIn. The career site geared toward millennial women founded by Sophia Amoruso recently got a $3.5 million cash infusion in a funding round led by Initialized Capital, the venture capital group run by Reddit co-founder Alexis Ohanian. As of its most recent funding round in 2017, the company was valued at $13.1 million.  

Amoruso's plan is to roll out a paid professional social-networking platform called Girlboss Collective in January. The site will be developed as a networking hub to serve young women whose careers don't necessarily line up with a traditional trajectory, particularly if they are freelancing, have multiple part-time jobs or gaps in their resume. Girlboss Collective will be available to people of any gender to use.

"LinkedIn is a place that was built for another era of work, when the work we did was very traditional," Amoruso told The Wall Street Journal. "Their product is really centered on that type of work: 'Here's nothing about my character and everything about where I went to school, and where I worked.'"

Amoruso, who formerly founded online retailer Nasty Gal, shared that the idea for the platform grew out of closed Facebook group called "Girlboss Gang," which has 5,609 members. There are currently more than 15,000 users on a waitlist to join Girlboss Collective. During its testing phase, it will be only for U.S. users and by invitation only.

Girlboss Collective users will also be able to view 50 hours of Girlboss Rally's, networking events held in Los Angeles and New York with panels and keynotes around topics including navigating the boys club and building a business out of your side hustle. The next is set to take place in November in New York with speakers including Arianna Huffington, Rent the Runway co-founder Jennifer Hyman, Shine co-founder and co-CEO Marah Lidey and Zola founder and CEO Shan-Lyn Ma...

https://www.entrepreneur.com/article/322271

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by Idham Azhari

Virus-free. www.avg.com

How this Brand is Making its Presence felt in the Tech Space

From power banks to Bluetooth headphone and speakers, and phone accessories, the WK brand of Hong Kong Remine Industrial Group offers several tech products that cater to the young generation.

Globally, WK has large amounts of online merchants, wholesalers and retailers. In China, there are more than 30 WK exclusive shops, 23 branches and over 500 official resellers. Its products are sold in more than 100 countries. The brand has offices in Dubai, Korea, Thailand and Saudi Arabia, with more than 300 overseas resellers.

Now, the brand is looking to make its presence felt in India.

We asked Katrina, vice president of the brand, how they trying to make their presence felt in the accessories market, ruled by giants like Apple, and Samsung.

"Every customer, every person is looking for a fashionable item. We are not just for the designing. We design for the market. We consider the market needs," she says.

When it comes to exploring any new market, she adds that the company studies the market through its agents, and try to find out the gaps and the demands. "The localization is extremely important."...

https://www.entrepreneur.com/article/322101

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by Idham Azhari

Virus-free. www.avg.com

OYO Announces $100 Million Plan to Strengthen Its Southeast Asia Presence

OYO Hotels is on the expansion spree. After China, UK and UAE, the SoftBank-backed Indian startup has now announced the launch of its hotel chain in Indonesia. OYO Hotels is ready to offer the benefits of its hospitality experience to asset owners, property investors and travellers to Indonesia with a string of over 30 full-inventory - franchised and operated - exclusive hotels and over 1000 rooms in three cities in Indonesia - Jakarta, Surabaya, and Palembang.

The expansion comes just six months after the company raised $800 million in funding from Japan's SoftBank Vision Fund.

Launched in May 2013, the hotel chain is currently present in over 350 cities with over 12,000 asset owners spread across six countries including India, China, Malaysia, Nepal, the UK, the UAE and now Indonesia.

Founded by Ritesh Agarwal, the company will be working towards transforming the country's hospitality industry by leasing & franchising assets and renovating them into beautiful living spaces. It will also be introducing its tech-based solutions for ensuring a seamless experience for both guests and asset owners while generating lucrative job opportunities for locals in various fields including housekeeping, front office, F&B, general management, civil engineering and more.

Why Indonesia?

For Agarwal, Indonesia is one of the top choices for both global and Indian travellers and market learnings and expertise OYO Hotels is ready to tap this opportunity.

"We've been at the forefront of the small and budget hotels revolution in India, China, Malaysia and Nepal, and have recently forayed into the UK and the UAE. Building the category grounds-up, we have employed technology and operational acumen to deliver delight to our customers and unique benefits to partners," he added.

This expansion is in line with our quest to support the country's hospitality ecosystem and creating infrastructure for asset owners to grow and run successful businesses, all of this while ensuring high standards of quality.

OYO's $100 Million Plan

The company intends to invest over $100 million in this high growth market and plans to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months.

At the time of entry, OYO Hotels will offer guests the high quality and affordable experience - perfectly suited for the needs of millennial travellers, aspiring for hassle-free accommodations. These properties will be operated under models of machine, lease with full - inventory control similar to other markets like India and China. These hotels will provide affordable and trusted living options for Indian, Indonesian and International tourists, business travellers, and local city-dwellers...

https://www.entrepreneur.com/article/322055

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by Idham Azhari

Five Financial Mistakes First-Time Entrepreneurs Make

Taking a leap of faith and starting your own business venture is a dream come true for many. However, this requires utmost dedication and strategic planning on the business owner's behalf. First-time entrepreneurs invest time and energy in the building and acquiring new clientele and often neglect its financial planning.

Here are the five most common money mistakes that first-time entrepreneurs make:

• Not Planning Miscellaneous Expenditure

First-time entrepreneurs often do not take miscellaneous expenses into account while planning a budget for their venture and therefore end up bearing the consequences by losing out on hard earned profit. It is crucial for new business persons to budget miscellaneous costs in their business plan from the very beginning as it helps to create a buffer in the overall financial plan. Allocating a certain amount for miscellaneous expenses comes in handy in challenging times and assists in keeping the business afloat during such adverse times.

• Creating a Skewed Capital Structure

It is critical for new ventures to ensure equilibrium between debt and equity for a smooth functioning of the business. However, many a time new entrepreneurs fail to maintain this balance which leads to either too much equity and too little debt thereby experiencing over dilution of funds; or too much debt and not enough equity thus creating an interest servicing capability crisis  

• Chasing The Wrong Metric

It is often noticed that business owners focus their attention on chasing a higher gross merchandise value or traffic directed towards their portal instead of taking more accurate measures towards revenue generation, net profits & generating free cash flow. It is important for entrepreneurs to acknowledge the fact that metrics such as Gross Merchandise Value are only one of the elements of the business's performance and not the whole picture. Shifting their concentration towards more crucial aspects and pushing for growth in terms of increasing revenue & net profits as well as generating cash and keeping inventory low and supply chain efficiency are other areas to keep a sharp eye on as these will positively impact the ventures financial stability and ensure growth.  

• Not Having The Right Fund Raising Strategy

More often than not, first-time entrepreneurs do not possess in-depth knowledge about the processes involved in raising capital for their business. Therefore, they move between series A, B, C and D funding in a rush, losing a pie of their business each time and over-diluting to angel investors and venture capitalists.  To avoid this, they must understand the main difference between these rounds, the maturity level of their business and the reason for raising this capital. A post analysing these key factors they should devise a strategy that enables them to measure risks accurately and then indulge in relevant fundraising processes looking at not just venture capital equity but also venture debt to have a balanced capital structure thereby avoiding over dilution.

• Not Focusing On The Business Aspect Of Their Plans

Entrepreneurs frequently overlook the financial and accounting aspect of their business and instead entirely focus on passion, practice and proficiency in executing the vision & mission of the business plan. A lack of attentiveness towards the financial facets can lead to losses and instability of the venture. Therefore, one must maintain a balance between accounting and passion in order to run a successful business ..

https://www.entrepreneur.com/article/321881

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by Idham Azhari

How FOMO Dictates Startup Funding

When pitching ideas to prospective investors, entrepreneurs have to choose how they're going to present their new startup venture. One option is to emphasise their own track record and past accomplishments, the startup's initial market success, or its unique resources in an effort to reassure their audience of a safe investment. The other route is to focus on the future, playing up what the company could be and making the investors part of their glorious vision.

With a view to introducing a change in which organisations, markets, and business ecosystems operate at a fundamental level, 'disruptive' visions fall into the second category. Well-known examples include Netflix, which transformed the video-rental industry. If you're looking for a personality rather than a company name, look no further than Elon Musk. The entrepreneur wins investors over by communicating increasingly more disruptive visions, such as his plans to explore outer space with SpaceX, and those where world transitions quickly to sustainable energy, such as Tesla.

Which strategy plays out best when startups are at the funding stage, going safe or disruptive? A new study by researchers from the University of California, Riverside, and the Rotterdam School of Management aims to find an answer.

More About The Study

The study was led by Ashish Sood, an associate professor of marketing at the UCR School of Business and his colleagues at Rotterdam School of Management, Timo van Balen and Murat Tarakci. It was published in Journal of Management Studies in July 2018, and detailed their research on 918 startups in Israel seeking a first round of funding. They chose Israel because it has more high-tech startups per capita than any other country and because of its track record of producing a number of highly lucrative ventures.

The second part of their study involved 203 participants with previous investment experience in exchange-traded commodities or funds, government bonds, stocks, unit trusts, angel investing, private equity funds, venture capital funds, options, or crowdfunding. They were asked questions about two fictitious vision statements, identical except for the degree of disruptiveness they expressed. Each respondent was given only one of the statements, along with other company information, and asked questions about the kinds of investment decisions they would make.

Where Does The Money Lie?

The researchers found that even a small increase in the disruptiveness conveyed by the startup improved the odds of receiving the first round of funding by 22 per cent. However, disruptive visions gathered 24 per cent fewer funds in the first round. In monetary terms, a disruptive vision caused the typical Israeli venture to lose $87,000 in the first round and $361,000 in the second round. This caused the researchers to wonder why investors were so positively biased toward disruptive visions and yet investing so little.

However, the results of the second part of their experiment provided some clarity. They found that investors funded disruptive startups quite eagerly because they saw the potential in an ambitious plan, but added a safety net by not investing as much money initially as they would put into a safe investment. Simply put, disruptive startups are more likely to raise money quickly but the amount raised is likely to be less than other safer ventures...

https://www.entrepreneur.com/article/321550

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by Idham Azhari

How to Leverage Digital Influencers to Grow Your Business

Influencers can be an effective spokesperson for your business and a great way to reach a target audience and improve brand awareness. Productive and profitable campaigns can be achieved if entrepreneurs employ the R.I.S.E. technique when using influencers: R=Results; I=Integrity; S=Strategy; E=Engagement.
Here's how you can grow your business through digital influencers:

Results

Be specific about the outcomes that you want to achieve. Where possible, quantify the results you are expecting (e.g. number of new clients, increase the percentage of sales revenue, growth of social media followers). Use influencer marketing platforms to find influencers and track results. Have clear communication with influencers about the specific results you expect. Do you believe the approach taken by the influencer will deliver the results expected?  For example, an influencer may post one picture of your product on Instagram, however, you may be expecting him or her to create multiple posts across different social media platforms. Always request to see results achieved from an influencer's previous campaigns.

Integrity

Integrity is critical. Consumers will find out if influencers are being paid to endorse your business. Influencers should clearly label paid endorsements of your brand. Ideally, influencers should genuinely use your product or service. Offer influencers opportunities to experience your brand with trial opportunities or by hosting events attended by influencers to use your product or service.  Also always ask your influencers how they have built their following. Select influencers that have a following that they have grown organically because they are likely to have a loyal following that will buy products and services endorsed...

https://www.entrepreneur.com/article/321132

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by Idham Azhari

5 Tech Trends Content Creators Need to Pay Attention To

Technology has provided new ways for creative professionals and artists to overcome the "starving artist" stigma and become digital entrepreneurs. Platforms including YouTube, Patreon and Shutterstock provide viable means for creators to publish and monetize their works.

However, there have also been some down moments. Constant changes in the monetization policies of these platforms have been largely considered to be disadvantageous to creators, compelling a number of artists to quit or, at least, threaten to leave, as reported by The Verge. 

Still, these issues shouldn't discourage enterprising creative professionals to pursue their passions. If you're a creative professional looking to leverage technology to your advantage, it pays to stay on top of trends. These serve as good indicators of where the industry is headed, allowing you to make the necessary moves to stay relevant.

Related: Preparing for the Future of AI

Here are five key tech trends that are set to change the landscape for creative content and content creators. 

1. Decentralized distribution platforms

One important issue for content creators is how to easily share and distribute their work. Blockchain ventures are building decentralized platforms that aim to challenge tech giants. Decentralized platforms promote openness, spurn censorship and reward their participants.

Projects such as TRON are working on building better global infrastructures for this. TRON has recently partnered with peer-to-peer (P2P) network BitTorrent in an attempt to further decentralize the web and provide more distribution. The effort, dubbed, Project Atlas, will incentivize users for acting as "seeds" who are peers who help host and distribute content. This encourages more participation and improves the network's capacity. Users then get to enjoy better uptime and faster downloads.

2. Augmented and virtual reality

Improvements in mobile computing and display technologies are making augmented reality (AR) and virtual reality (VR) more affordable. Tech giants have all made huge bets in AR and VR since they recognize the potential of these technologies. 2017 saw $3 billion in investments pour into the industry, as reported by VentureBeat.

AR and VR have already proven themselves in a variety of use cases. In entertainment, the technologies are expected to provide more immersive gaming and live entertainment experiences. They are now also being used in teaching and in scientific research...

https://www.entrepreneur.com/article/320867

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by Idham Azhari

Want to Be More Like Wendy's on Twitter? Here's What the Company's CMO Says to Do

Wendy's is famous for its voice on social media. Remember when the company challenged Carter Wilkinson to set a Twitter record to win free chicken nuggets for a year? That one-tweet challenge went viral, generating news coverage and landing Wilkinson on Ellen Degeneres's couch.

From witty one liners to offering advice and homework help, Wendy's has established a social voice that is unlike any other brand. "More and more people have been discovering how we've been talking with people on Twitter, and so it's gotten bigger and bigger," Wendy's Chief Marketing Officer Kurt Kane told Entrepreneur...

https://www.entrepreneur.com/article/320969

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by Idham Azhari

5 Ways to Improve Your Interviewing Skills

An interview is a business transaction wherein the objective of the hiring manager is to make a selection among job candidates called in for interviews. A candidate has two challenges: first, to convince the hiring manager that he or she is the ideal candidate for the position, and second, to outshine the others (i.e., the competition for the job). The following are several suggestions.

First, prepare for the interview by working with a seasoned interview coach. An interview coach can practice with you certain mock-interviewing techniques, thereby helping you to not only answer difficult interview questions but also recognize traps and avoid saying the wrong things. As an interview coach, I need no less than five hours to get someone ready for the big test. If the result is to get the job, then the fee paid for such a service is merely a drop in the bucket.

Second, prepare your SARBs: situation/action/result/benefit. These are short vignettes about your experience, describing for the interviewer how you solved problems on the job and the results and benefits to employers. They are the tools you bring with you to the interview. If presented well, the examples will convince the hiring manager you're the right person for the job.

Third, research the company. Spend some time in the public library investigating as much as you can about the company. You cannot overdo this aspect of the job search, and neither should you underestimate the importance of showing the interviewer you understand -- on either a macro- or micro level -- the issues the company faces.  Knowing details about the company improves the "cultural fit-factor".

Fourth, use your personal connections via LinkedIn, Facebook, Google+ and Twitter to discover as much information as you can about the people you're going to interview with. While doing that, attempt to find something in common with them. This is very important because people are known to hire candidates with whom they can build a relationship even during the interview process.

And fifth and last but not less important, make sure the position you're interviewing for aligns with your own needs and desires. Consider your skills and attributes and traits. Evaluate the organization's work environment, the commute, the compensation, and the benefits. Pay attention to your gut feeling. If it feels good, make sure you clearly show your enthusiasm. This is what the hiring manager wants to "buy."

https://www.entrepreneur.com/article/320866

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by Idham Azhari

4 Industries That Are Being Disrupted by AI

The widespread disruption of AI is summed up best by Andrew Ng, the former chief scientist of Baidu, who views AI as the new electricity: "Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don't think AI will transform in the next several years."

While most large corporations are undergoing technological transformations to use, support or offer AI technologies, the real magic takes place in the AI startup arena. According to CB Insights, the top 100 AI startups of 2017 have raised $11.7 billion in aggregate funding across 367 deals, thereby making the market rich with innovations plus financial backings.

Related: How Investing in AI is About Investing in People, Not Just Technology

The most surprising AI startups and applications are those that are paving the way towards more unconventional verticals, such as insurance, background checks, real estate, health and retail. The unique application of AI in areas that aren't traditionally high-tech is particularly fascinating for multiple reasons. For instance, it proves that with AI, all industries can be enhanced for greater efficiency and streamlined processes. When AI takes over time-consuming and tedious jobs, human counterparts are given more time for impactful contributions with greater value and tacit knowledge. Although many may argue that AI removes the human touch, it's also important to bear in mind that it drives strategic and creative thinking at a larger scale.

Here are four industries being disrupted by AI:

1. Insurance

Insurance companies and their leaders have a lot to deal with lately, as reported by Deloitte's latest market research report called Fintech by the numbers. As reported by Deloitte, "Political and regulatory upheavals around the world are changing some of the ground rules about how carriers are allowed to operate. An accelerating evolution in the way business is conducted is being driven by innovation and higher customer expectations, while disruptive newcomers are looking to take market share from incumbent insurers in the insurance industry." 

Upheaval and changes create opportunities for savvy entrepreneurs, which is exactly what Lemonade is capitalizing on. Without relying on legacy players in the space, Lemonade blends insurance with tech and digitally transforms the user experience by appealing to consumers of all ages, removing costs and expediting claims. The data that is gathered helps drive efficiency and quantify risks.

In December 2016, Lemonade set the world record for settling a claim in three seconds using its AI-powered claims bot, which ran 18 fraud algorithms simultaneously. Its technology understands the nature, severity and urgency of most claims. If any claim is too complex, it gets handed over to human counterparts for further manual analysis.

2. Background checks

As President Donald Trump's legislative agenda continues to be debated and laws are modified, employers need to keep a close watch on the reaction of the states to the administration's federal employment law decisions. Changes made at federal regulatory agencies such as the Federal Trade Commission (FTC) result in new business laws that can affect taxes and hiring practices.

State and local legislation will continue to be big issues in screening in the next year. In 2017, there was an increase in legislation that bans asking for salary history in cities and states across the country. There will be more of these laws introduced in cities, municipalities and states in the next year. Ban the box laws have been sweeping the country for the last few years. The newest ban the box law went into effect in California on Jan. 1, 2018. The California law, which involves both the public and private sectors, states that employers cannot make a criminal history inquiry until after a conditional offer has been made to an applicant. State and city ban the box legislation will continue to pass in the new year.

Related: Why Smart Cities Are a Golden Opportunity for Entrepreneurs

Thanks to the above, the background industry has seen a spur in innovation and growth. Intelligo is leveraging AI and machine learning to conduct background checks on people and companies in just minutes. This reduces the wait time and frustrations that are traditionally associated with the backlogs of federal agencies and large financial corporations that rely on human analysts to manually conduct granular research across multiple mediums.

Their solution quickly combs through thousands of data sources without concern of manual labor and offers a user-friendly interactive report, which presents actionable insights in a manner that is insightful yet easy to understand.

3. Real estate

In 2017, real estate accounted for about 13.4 percent, or $2.6 trillion, of U.S. GDP, as reported by BEA.gov. That's more than any other industry, including manufacturing at $2.2 trillion. Real estate, as a whole, covers a number of market segments, including commercial industries such as construction and rentals to residential with consumer housing. Real estate construction alone contributed more than $1 trillion to the economy last year, while apartment rental properties are worth north of $1.4 trillion.

The real estate industry provides a huge market for opportunity. An example of AI in this space is from Compass, a startup that uses AI to connect potential homebuyers and renters with properties that best meet their needs. Though it is safe to say that there are multiple websites that offer a similar service, Compass perfected the art by breaking the mold and standing out. According to a representative of SoftBank Vision Fund, which invested $450 million in Compass, it is well positioned for future growth for building a "differentiated end-to-end tech platform that aggregates across diverse data streams to support agents and homebuyers through the entire process."

4. Retail

In an age where many claim that we are experiencing the retail apocalypse, Inturnproves that is not the case at all. If anything, we are only experiencing the latest shift in retail trends. According to Business Insider, by 2021 most retailers will invest in AI and IoT technologies for supply chain automation, location-based marketing, customer traffic sensors, machine learning, asset tracking and big data solutions. Inturn uses AI to empower brands and retailers to use automated workflow tools, a pricing optimization engine and business intelligence to gain visibility of their business and simplify the buying and selling of excess inventory...

https://www.entrepreneur.com/article/320353

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by Idham Azhari

7 Tips for Early-age Startups to Get Traction that Multiplies!

There are two restaurants side by side that serve the same cuisine. One of them is swarming with customers, and the other is relatively empty. Where will you head for lunch?

You might have a great product or service that you're proud of. You might have well-optimized processes, clear goals and a great team in place to help you get there. But nothing is more attractive to customers and investors, than seeing TRACTION. In order to fall in love with you, people need to see how much you're already loved.

So what can early age startups do to get a good momentum in market adoption?

Here are 7 tips that worked for us!

1. Offer a Pastry, Build the Trust: Since our days as cave-men & women, we have been averse to taking risks. We are no different today. Reducing entry-barriers to trial is a great way to get your first customers on board. Actively look for ways to take out the RISK of trying you out. They don't have to buy the entire cake, maybe they can choose to buy a pastry first? Lower budgets are also easier to get approvals for in big companies! Proactively recommend that they start with a smaller bite of whatever it is that you're offering, and build their trust with it! It doesn't matter if you don't make any money from your first set of clients. Be hungry for more work and more opportunities to show the world the value you bring.

2. Put a Garland of Money around Your Clock: Okay, not literally! But remember that TIME is the most important currency you have, especially in your first year of life. Focus all processes and people to optimize the time taken to do things. As your company grows this gets tougher to do. The secret to getting traction is to remember that the real money is in people coming back for more! The sooner they complete the process of trying you, the quicker they will be able to return for more! So keep trial-periods quick to close.

3. Stop Focusing on Results: Yes, you heard that right! Truth is, we can't always control results. What we can do is control our everyday actions and processes that are most proven to deliver those results. Disappointments will come and go. Happiness will come and go as well. It's important to not let either of them distract you from ensuring consistent actions. Actions could be as small as ensuring you make 3 follow up phone calls, send out weekly newsletters, or do something special for 1 customer every day! The actions just need to be well-defined, measurable, and consistent! Even map your Team rewards to behaviours you want to see, vs. just results delivered. It keeps the focus on Growing at the speed of the actions you complete.  

4. Catch Tadpoles First: Don't overlook smaller companies that can truly benefit from the value you bring, but may or may not be able to afford you at market-price. For starters, they make a great playing ground to test and learn on various ideas and processes. But more importantly, you can take the success-stories of work you have done here, to attract the big fish who constantly need proof of concept before investing.

5. Make ONE bigger than five: With a limited amount of resources and time at your disposal, you are better off showing tremendous growth in ONE segment of choice, vs. average growth across segments. So no matter what you're offering, narrow down your focus on a certain set of consumers, or a particular industry - and maximize your efforts for it. Getting one client in a certain segment leads to a lot more clients within that same segment. You only need to showcase traction in the playground you voluntarily choose to play in.

6. Don't forget your Free Marketing Coupons: Nothing is more powerful than a recommendation from a peer you trust. Don't hesitate to ask each of your clients or customers for at least 5 recommendations they can make to other colleagues and friends. Think of every time you close a client or customer, as 5 imaginary 'free marketing' coupons in your kitty that you need to remember to use. I call them coupons to make them feel more tangible than they otherwise are. For each referred client that comes on board, you get 5 more marketing coupons that you need to remember to activate. This is how traction multiplies.

7. Believe in the Power of Good karma: Doing Good attracts more good! Look to see if you can integrate a good cause to the proposition you offer. People love to be part of a larger purpose, and especially a cause they care about. Girl Child education? Pet Adoption? Senior homes? Find a cause that resonates with you and ties into the proposition you offer. Re-directing some of your funds to a meaningful cause starts an energy-cycle in your favour. Nothing drives momentum to a business, more than the right energy pumped into it.

The best part about traction is that it's contagious. Work towards getting a good momentum started, and soon enough other pieces begin to fall in place on their own.

https://www.entrepreneur.com/article/320532

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by Idham Azhari

Will Amazon's Entry into Indonesia Change the E-commerce Landscape?

The e-commerce giant Amazon is reportedly entering the Indonesian market after its expansion in Singapore last year. The company's focus is currently on the Southeast Asia market to enhance the brand's presence in the Asia Pacific region.

The company was already in talks with the Government of Indonesia about the terms related to its planned investment, including tax and other regulations for about two years, which has finally reached to an execution stage.

In an interview with Indonesia's online research company, KataData, Finance Minister Sri Mulyani Indrawati says, "I'm now in discussion with Amazon, who is planning to enter Indonesia. I will make sure they comply with our country's regulation, especially their readiness to pay the taxes."  

Is it going to be Amazon v/s Alibaba?

Bezos' company will face the competition from the Chinese behemoth Alibaba and Bhinneka in Indonesia. A 2016 report by Kompass.com says that the global e-commerce giant will be bringing a whopping $600 million investment for its first year of operations in Indonesia. On the other hand, its global rival Alibaba has already made its mark in Indonesian market by leading $1.1 billion funding round into e-commerce unicorn Tokopedia.

Although the e-commerce market of Indonesia has active players betting high on it, the entry of global e-commerce company Amazon in Indonesia is expected to disrupt the e-commerce landscape of the country. Both the global rivals are trying to capture the Asia Pacific market...

https://www.entrepreneur.com/article/320410

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by Idham Azhari