Can anyone succeed as a start-up?
Whether you are male or female it does not matter, the most important element is whether you have a natural affinity for entrepreneurship.
What’s the hardest thing about developing a tech-based business idea?
I would say getting the customers to the website and to book with us was the toughest challenge. Even if you don’t have a technical background, it just requires a lot of logic. With the internet comes greater competition; everything is accessible, everything is real-time. And while technology is amazing, it’s also expensive to build. So, balancing the cost of tech with what a business needs to stay ahead can be tricky.
How does the start-up scene look today?
If you look at the Singapore start-up scene, or even Silicon Valley, four to ten years ago, things were pretty hot. It was easy to fundraise and the mantra was “spend, spend, spend”. But then we saw a change in mindset when quite a few start-ups who raised millions of dollars, suddenly couldn’t raise more at sky high valuations, simply because the longevity of their business model wasn’t there. Since then then there has been a shift in investor mindset to look at businesses that really work, and can actually make money (at some point). Not companies that sound ‘trendy’ but really only survive on funding.