What are the critical success factors of an internet entrepreneur in Malaysia?
1 always keep up with the trends.
2 never be afraid to try new technologies, new media such as TikTok.
3 be data driven - it is key to understanding customer behaviour.
4 learn to automate.
5 have the eagerness to experiment new methods, validate before going big.
6 be customer centric - great customer experience is what drives recurring revenue.
7 start small, but be ready to scale.
8 don't be afraid to ask and pay it forward.
9 invest in technology, because the technology will keep you ahead of customers.
10 look out for niches, because there riches is in the niches.
Key challenges by internet entrepreneurs in Malaysia.
1. limited access to tech talent pool: both developers and digital media specialists.
2. poor internet infrastructure = inconsistent speed.
3. differences in purchasing power, lifestyle and standard of living among consumers from different states of Malaysia.
4. Malaysian consumers digital savviness is rather poor. they are not keen to try new things and depend on others to educate them, ie not early adopters.
5. lack of internet education, like how payment gateways function.
6. low credit card penetration limits spending.
7. too much fraud, making consumers too cautious and wary about new things.
8. difficult and expensive to market to 3 different language groups in Malaysia.
9. over reliant of facebook.
10. local SMEs are slow to adapt to embrace new technology.
Thursday, June 21, 2018
Saturday, March 10, 2018
Friday, December 22, 2017
Thursday, December 14, 2017
Wednesday, September 20, 2017
Saturday, July 22, 2017
Key learnings from a private sharing session from Dato' Seri Ivan Teh of Fusionex with SAAS Unicroaches - 20th July 2017
Here are the key learnings from the private sharing session on SAAS startups last night hosted by Fusionex:
1. Malaysia a great market to start, but not enough to make money. You need to move regionally, at the least.
2. Moving from SME to Enterprise: very difficult but achievable. It takes time, commitment, building as many succesful cases studies and providing enterprise clients that you are reliable both financial and that you have enough resources to scale to their demands.
3. Learn to find your right and bestest strength, then focus on it. Use that to your maximum advantage over others. Be different.
4. Data is the new crude oil (this isn't new but I'd like to highlight it).
Here are some photos and more key learnings to takeaway. Thanks to Warren Leow for the invite.
A wefie with Dato' Seri Ivan Teh of Fusionex with Adrian Oh from Webshaper and Wilson from Milkadeal.
Wefie with Syed Ahmad Fuqaha of Katsana.