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Obtaining a Company’s Financial Statements in Singapore

Obtaining a Company’s Financial Statements in Singapore

Why are financial statements vital information for investors?

A company’s financial statements give a good picture of a business’s economic accomplishments and a scope of what to expect in the future of their standing within their industry. 

“A company’s financial conditions are of major concern to investors and creditors. As sources of finance for your company operations, investors and creditors rely on financial reports to gauge conditions for both the safety and profitability of their investments,” says Way, investment writer for chron.com

Financial statements provide critical indicators of success for investors or creditors considering entering into a partnership with the companies in question. 

What information should investors focus on?

A business’ financial statement is akin to a school report card. It lists pertinent information on how well or poorly a company is doing. But when scrutinizing a financial statement, it’s essential to pay special attention to the following details:

Sales

All earnings made by the company you’re investigating will be the most crucial piece of information you consider. Sales data lets your know whether a company is in growth or decline, making it essential to determine its worth as an investor.  

To determine if the business in question sees an upward trend, “—you need to add up the data in each of the past four quarters, as well as the same quarter in the previous period, to calculate the change,” says Matt Krantz of USA Today

Debt load

A company’s ability to cover expenses and meet payroll during slow periods is just one reason investors should look at a company’s debt load. But most importantly, if a business were to go out of business, equity holders will be left behind as debt holders get preference for getting their money back on leftover balances. 

Examine said company’s income statement and balance sheet to determine if there’s ample cash flow to cover a company’s debt payments and to identify any other potential problems a company may face in the future. 

Trends in Cash flow

For an investor, seeing leftover cash in the bank on a financial statement is encouraging. It is a good sign that, should unexpected obstacles arise, the business is covered on the financial end. It’s also reassuring to see that if a fresh new earning opportunity were to come up, this business has ample funds to jump right in and boost its cash flow tenfold. 

“Cash is money in hand, not the result of accounting measurements and judgment calls, as is the case with earnings and net income. When a company’s net income is much higher than cash flow, investors want to be aware and find out why,” adds Krantz. 

Customer Acquisition Cost

Customer acquisition cost describes how much money it takes to onboard a brand new customer. This number can vary greatly depending on whether the business you’re inquiring about is a newcomer to the scene versus a seasoned player. New companies tend to have more new customers, while established companies tend to balance new and repeat customers more. 

A method for figuring out customer acquisition cost is to divide the amount spent on marketing by their number of new customers. This is a critical component of a promising investment venture, as a company whose product may seem profitable in production may be a hard sell out in the market. 

Dennis Najjar of The Balance Small Business mentions, “This problem can occur with super-niche areas where it’s hard to spread the word about your product or in hyper-competitive areas where advertising competition is fierce.” 

How do you obtain statements in Singapore?

Under the Companies Act, all businesses and branches of foreign companies based in Singapore must report their financial statements prepared according to Singapore Financial Reporting Standards. 

Each financial statement includes the following information:

  • Report of Directors and Statement by Directors
  • Independent Auditor’s Report (if applicable)
  • Statement of Comprehensive Income (Profit and Loss statement)
  • Statement of Financial Position (Balance sheet)
  • Cash Flow Statement
  • Statement of Shareholder’s Equity
  • Corresponding Notes to Financial Statements

These statements can be found on the Accounting and Regulatory Authority (ACRA) website at www.acra.gov.sg

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Start Your E-Commerce Business In Singapore The Right Way

I think many people can agree that Singapore embodies the phrase “small but mighty,” and when it comes to e-commerce, there is no exception. Singapore boasts a young, tech-savvy population and some of the fastest internet in the world, being almost three times the speed of the global average, according to JP Morgan.

This powerful combination bodes well for the future of e-commerce in Singapore and Southeast Asia. With the Singaporean government making efforts to make shopping online a more effortless endeavor by providing 24/7 access to public parcel lockers, there’s no doubt e-commerce will continue to dominate for years to come.

Clearly, the time is now to dive into this rapidly growing market, so stick around to find out how you can open an e-commerce business of your own.

Perform Market Research in Your Niche

If you have a product idea in mind already, that’s great! If you’re still trying to figure out how you can break into e-commerce with a fresh product and moderate competition, doing a little research into your preferred niche will likely give you the confidence you need to launch a profitable online store.

The best way to do this is to start with knowing your niche inside and out. X-cart suggests you scrutinize groups of forums in your niche to get your information straight from the horse’s mouth, your potential future customers.

You can also look at trending products on popular shipping platforms such as Amazon or opt for third-party product research tools to get the metrics on trending products in your market.

Choose Your Business Model

Once you feel comfortable in your niche, you have to begin defining who your ideal customers are. A significant part of this is simply choosing one of the many options for conducting sales in use today.

Business to Business, or B2B

This refers to a company that sells to other companies, such as wholesalers to retailers.

Consumer to Consumer, or C2C

With this model, consumers might re-sell products they’ve purchased from other retailers they’ve never used, previously used, or even modified.

Business to Consumer, or B2C

One of the more widely used business models in e-commerce, B2C companies sell their products or services directly to their customers without any 3rd party involvement.

Consumer to Business, or C2B

This model has gained significant popularity in recent years with the rise of influencer marketing, which involves internet personalities selling advertising space to companies.

Find the E-commerce Platform That Suits You Best

E-commerce platforms are arguably the most straightforward way of setting up your online store, and Singapore is home to some of the leading websites dominating e-commerce today. Platforms are attractive mainly in part due to their convenient integrated customer retention features.

Qoo10

  • Free to register your store
  • Live chat feature for customers to communicate directly with sellers
  • Sales Manager feature tracks all orders, product listings, and shipping

Lazada

  • High user traffic in Southeast Asia
  • In-house shipping assistance with any of their warehouses in Hong Kong, China, or Singapore
  • Comprehensive courses on effective marketing with Lazada Academy

Shopify

  • Mobile-ready
  • Fully customizable store-front
  • Powerful SEO features to get your store noticed

Carousell

  • Can sell used items
  • Cash-on-delivery payment option
  • Two-way reviews and rating system

Develop Your Reliable Marketing Plan

Now that you’ve set up shop, you have to think about how you’re going to get the word out that you’re open for business.

There is an array of options for driving traffic to your store that converts into sales, and choosing the right ones depends on your brand voice and your sales goals. These can include pay-per-click ads, social media, or sponsored content.

But the very first step, according to internet marketing expert Darren DeMatas on ecommerceCEO, is to create an email list through the use of an opt-in freebie on your website. He says, “Running a giveaway is my go-to marketing tactic to get traffic and subscribers quickly. Giveaways have the added benefit of increasing your brand presence and product visibility. Building an email list gives you a group of warm leads to work with, making the sales process much easier”.

No matter which marketing route you choose to take, finding the funding necessary to run these campaigns is the next vital step to launching your online business. With Jenfi, you can find out if you qualify for a loan in as little as 24 hours! Visit Jenfi, and fill out our fast and secure online application to get up to $200,000 to start marketing your business the right way.

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4 Powerful Email Marketing Strategies for Small Businesses

4 Powerful Email Marketing Strategies for Small Businesses

What is email marketing?

Email marketing is an incredibly compelling digital marketing strategy that involves sending emails to your prospective or existing customers to gain a steady flow of new acquisitions or solidify relationships you already have. 

It’s an excellent way to boost sales and remains one of the best ways to nurture leads and customer loyalty. 

What are the benefits?

Email marketing for small and big businesses alike comes with many benefits that may turn you toward incorporating it into your strategy if you haven’t already. 

Firstly, email marketing is decidedly cost-effective, providing up to $40 on ROI for every $1 spent. And according to Smart Insights, that’s over two times more than other marketing channels making it the top choice for customer outreach. 

Emails provide consistent engagement with your customers, reaching them at their inbox; one of the virtual locations your loyal fans may be frequenting the most daily. It’s also an excellent way to collect important demographic and behavioral data for further personalization in your email outreach, product recommendations, and user experience updates to your websites and social media channels. 

Overall, email marketing strategies allow you to grow your brand by making you identifiable and giving you an edge over your competitors. 

4 Email marketing strategies

1. Segment your market

Not all audiences are the same, and it’s crucial to observe your customer base as multiple segments within the same pool instead of just one unified group. Now, you don’t have to narrow things down to the basics such as age, education level, or genders though they can certainly help. 

Maria Mora, vice president of creative and content strategy at Big Sea says, “Break lists up depending on where your contacts are in the buyer’s journey, and segment based on what you know about them.” This makes it exponentially easier to deliver and track metrics on targeted trigger emails. 

Here’s a handy list for your reference:

  • Purchase history (frequency of making purchases, product preferences, purchases made during sales)
  • Demographics (age, gender, location)
  • Email engagement (click vs. no click open)

2. Decide on what kind of email you’re going to send

Just as your customers aren’t all the same, there’s no one-size-fits-all when it comes to emails either. There’s a wide variety of options for email marketing, and knowing what they are and how they function is integral to designing your perfect email campaign. 

  • Newsletters: Contain a report of recent news or activity within your business and is a popular way to keep your customers in the loop
  • Promotional: Are composed of special discounts or exclusive offers meant to persuade purchases
  • Seasonal: Seasonal emails are great for providing updates for sales or other news coinciding with upcoming holidays or seasons
  • Transactional: Focus solely on providing information concerning a transaction that occurred on your site but can be a great branding tool
  • Loyalty: Remind customers of their rewards, or notify them of VIP discounts to thank them for sticking around 
  • Drip: Automated emails sent after a specific action, whether its a cart reminder, an email confirmation, or a product suggestion email

3. Personalize as much as possible

A well-personalized email can mean the difference between a customer opening an email versus instantly sending it to their trash bin. Based on whatever data you collected from your market segmentation, the more personal you make your emails, the more likely customers are to open and engage with them.

“One thing we saw an instant bump in open rates from was when we put the email coming from the owner’s name instead of the company name,” said Jeff Moriarty of marketing and web development at Moriarty’s Gem Art. 

And if you can manage to tack on your recipients’ names to each email, then you’re pretty much winning the game. You can do this automatically with the use of CRM software, which you can easily fund with us at Jenfi along with other necessary marketing expenses to guarantee long-term business growth. Visit us today to see if you qualify!

4. Track Your Metrics

Now that you’ve gone through the trouble of doing market research and segmentation, as well as email writing and designing, you can start track to track your results as soon as you hit send. 

This is the only way you can rule out what works and what doesn’t, so you can further streamline your marketing strategies and save time the next time you send out a campaign. 

Take note of: 

  • Email opening rates
  • Unsubscribes
  • Links they clicked on

Now that you know what every successful marketing campaign entails pair these email marketing strategies with any future email campaigns you put out to watch your sales soar in 2021 and beyond. 

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5 Customer Retention Strategies For Start-Up Growth

There’s a specific excitement felt by businesses seasoned or new when it comes to the acquisition of new customers. Oftentimes this “new customer smell” is so  alluring that business owners forget that not only is it cheaper on average to market to a loyal customer, it also results in greater ROI with Bellycard’s customer loyalty survey reporting, “almost 30% of SMBs estimated that 71-90% of their customers visited more than once last year.”

With the rising costs of marketing for acquisition, start-up business owners should begin prioritizing the following fail-safe customer retention strategies to secure customer loyalty — the real key to business growth in 2021 and beyond.

Customer Loyalty Programs

One of the most tried and true ways of achieving customer retention is through the use of customer loyalty programs. Having a loyalty program honors your customers that have stuck around by providing special discounts, exclusive offers, or even gifts.

Loyalty programs are a form of positive reinforcement that rewards your customers the more they shop from or engage with your brand. They’re also a small reminder that you care enough about them that you’d like to repay them for their continued support.

 

Referrals or “Evangelism”

If you’re looking for a clever way to get your loyal customers involved in the marketing process, referral programs are an excellent way to knock out your two customer retention and new customer acquisition birds with one stone.

The strategy involves offering an incentive for both your customer and the friend they invite to shop from you, typically with an exclusive discount. Take the MeUndies model, for example. An increasingly popular underwear brand, much of its growth has relied on its referral program offering returning customers $20 off their next purchase, and 20% for their friend.

 

Customer Feedback Loop

According to SuperOffice, there seems to be a gap between the 80% of companies who believe they’re delivering exceptional customer service as opposed to the 8% of customers who would agree.

An important behind-the-scenes tactic for improving customer retention rates is to actively listen to your customer feedback. Surveys are the most concrete way of opening this line of communication with your pool of customers. With surveys, you can obtain a wealth of information including data on customer behavior, or get transparent suggestions as to what shoppers are seeking in their customer experience.

Pair this with targeted emails reassuring your customers that you’re taking their constructive criticism to heart. This will help you build a solid foundation of trust.

Keep it Convenient

It’s a no-brainer to mention that keeping your customer experience as convenient as possible will keep customer loyalty at a high. This plays into obtaining that sacred data from your feedback loop.

If you can streamline your checkout processes to make the final purchase as smooth as possible, customers are going to keep coming back if only for the simplicity of the transaction. Yes, it matters that much! Many companies have turned to the mobile sphere for this, offering easy checkout right in the palm of their hands.

As counter-intuitive as it may seem, finding a way for your customers to get in and out in a flash is the way to go.

Outreach Personalization

A symptom of the email marketing craze is that customers tend to see business emails as spam as opposed to anything that offers value. However, personalizing those outreaches offers an opportunity to insert audience-appropriate personality, as well as content that coincides with their preferences and purchase history.

Econsultancy research data points to an overall higher impact ROI with these specially personalized emails, as a matter of fact.

Emails aren’t the only way to achieve this though, another effective method of personalized outreach can mean communicating with your customer base on social media channels they frequent.

Loyal customers are a sure-fire way to experience growth within your business, and keep the cash flowing so your business can stay afloat without worry. These customer retention strategies are just another fancy way of saying that you need to build trust and relationships with your customer base to truly be successful. After all, a rockstar is nothing without his fans, and that analogy rings true for businesses everywhere.

If you want to get an edge on the most state-of-the-art CRM software, or additional customer loyalty marketing strategies to make customer retention your top priority starting now, visit us over at Jenfi to see if you qualify for the funding you need!

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Top 5 eCommerce Business Trends for 2021

The future of commerce looks a little different than what many of us imagined, but this ongoing pandemic has largely shifted the tides. Where there once was a hesitance about eCommerce, now there is a great reliance. This of course bodes well for the eCommerce business, which saw a surge of over 30% in sales in the year 2020, according to Shama Hyder of Forbes. 

This means that Direct-to-Consumer businesses have had to quickly adapt to the accelerated changes brought on by this unexpected catastrophe. With more individuals turning to their phones and laptops to shop for goods, the future of eCommerce has seen a cardinal deviation toward a more custom and convenient shopping experience. 

Influencer Marketing

It’s no secret that in the past decade many internet dwellers have opted to exclusively get their shopping recommendations from their favorite influencers. This is why influencer marketing is being touted as a major trend for the upcoming year and beyond. 

Influencer marketing allows for brands to achieve a more targeted reach through User-Generated Content that not only allows an eCommerce business to show their ideal customers a real person using their product when many customers are unable to see it or experience it in person, but it is also a stellar opportunity to keep up with current trends and what the public has to say about them. 

M-Commerce

Online shopping isn’t just for laptops anymore. Around 73% of all eCommerce sales will take place on a mobile platform, Statista estimates. This means that commerce business owners need to rush to make certain their mobile interfaces are up to par. 

“I feel like we’ve moved five years ahead in just one,” says Silvija Martincevic, Chief Commercial Officer for Affirm. “I recommend retailers take a close look at their mobile product roadmap to ensure that it is just as robust as their online shopping experience-”.

A preference for shopping right in the palm of your hand was no surprise to anyone, but the world’s sudden twist of fate has us all growing up faster than we ever expected. 

Text-Message Synergy

If you find yourself opting in or out of text messages before checkout, this is why. To continue to personalize user experiences on mobile platforms, DTC businesses are making sure to hit you up on your cellphone. 

Text-message allows companies to send customers tailored messages that let them know companies have their best interest at heart. You can send things like cart reminders, limited-time offers, delivery updates, and so on. Experts project that this interactive function will eventually lead to real-time messaging between an eCommerce business and a customer in the year 2021. 

Efficient Fulfillment

The beginning of the pandemic proved to the world that they desire to have home essentials on hand in case of emergency are a top priority. Not only have companies begun to stock these essentials in their arsenal, but they’ve now begun to offer express delivery to ensure their customers get what they need when they need it. 

Multiple eCommerce businesses are adopting the Amazon Prime model of overnight or 2-day shipping. Offering fast fulfillment of orders pretty much guarantees your customers will continue to turn to you as their reliable, go-to seller.  

Sales conversions are sure to skyrocket if these uber-fast shipping options are emphasized on all platforms and advertisements across the board. 

AI-Driven Personalization 

We’ve all encountered the very obvious chatbot that only seems to be able to answer the most basic of inquiries, but the future of eCommerce in 2021 holds the key to advanced artificial intelligence capable of mimicking emotional responses and comforting even the most frustrated of customers.

AI also holds much promise in the personalization of the shopping experience. This means that bots will be able to track the behavior patterns of your customers as they shop, eventually offering more tailored product recommendations when it comes time for them to make their next purchase.

And an additional benefit for eCommerce business owners is that leaving the product recommendation to AI has an interesting domino effect on predicting inventory needs in the backend, thus killing two birds with one stone.

These are just a handful of ways that you can scale your commerce business. Like the aforementioned influencer marketing trend, marketing your business in the early stages or any stage can feel daunting when you’re so preoccupied with front-end tasks in the rapidly growing Southeast Asian market. But Jenfi can help alleviate the worry of finding the capital you need to succeed! Contact us today to see how we can help you stay on-trend while doing what you do best!

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Top 5 2021 Instagram Marketing Trends to Boost Engagement

Our 2021 Instagram Trends

Chances are you have your own personal Instagram account, or you know someone who does. This is because when it comes to building your network, whether it's made up of friends or potential customers, Instagram has had a spotlight on it in the past few years, and by the looks of it, will continue to burn brightly in the years to come. In Singapore alone, joining Instagram means access to over 75% percent of the population, or up to 4.7 million people according to Statista.

If you’re a start-up company and you haven’t figured out how to reap the fruits of this popular social media marketing hub, you can always reach out to your friends over at Jenfi to get your started with the capital you need of course, but here are some additional tips to reinforce your overall marketing strategy for 2021 and beyond.

Optimize Your Bio

So you’ve got your account set up, which is great, but you’ve written in a very generic bio that basically states what you do. Understandably doing anything else can be confusing, considering you’re only working with 150 characters, but your bio is going to be the “call to action” button of your whole account, leading them to important links as well as being a place to showcase your brand voice. 

Make sure to fill in every text box when editing your profile, including:

  • Business category
  • A clickable URL for your site
  • Contact information (email, phone number)
  • Add an action button along the lines of Book Now, or Reserve as it pertains to you. 

Establish a Brand Theme

When you sat down and developed the visual branding of your company, you more than likely had to take into account things like colors and fonts. Well, when it comes to Instagram, carrying out those brand consistencies is key to having a successful marketing strategy.

If you take the time to visit the accounts of similar businesses or any business, you’re going to see that the same colors are used throughout the page, creating a clean look that also distinguishes your brand from users’ feeds.

Whether you choose to go bold, or sleek, the more recognizable you are on the app the more trust you’re going to build with your ideal customers.

Videos Are Everything

Instagram has the capability to either film short-form video content called Reels, or deliver live video streaming on the platform. Videos give a face to your brand. Psychologically you now have so much more depth than the products you sell. Instagram lives in particular, are a great way to interact with your audience and potentially get some insight as to ways you can improve your strategy. 

Reels are an excellent way to hop on viral trends early on and get extra exposure for your account. Bottom line, during a time when face-to-face interaction is scarce, videos are essential in connecting with your customer base in a way just words or graphics could never accomplish. 

Marketing for a Cause

In the same vein as video marketing, incorporating philanthropy in your social media strategy is a wonderful way to emotionally reach your followers, and for a good cause!

Just back in July of 2020, Instagram unveiled a social fundraising feature as an answer to the devastation caused by the pandemic, and the Black Lives Matter protests in the US. The rise of digital activism has opened the door for companies to not only be vocal about social issues but also to allow crowdfunding to support those very causes. 

The public craves transparency now more than ever, and choosing to take a stand will earn your company the respect of all your customers. 

Instagram Shopping 

Instagram Shopping is a feature that’s blowing up in a good way. If you’re a direct-to-consumer company, long are the days of solely having to rely on customers directly visiting your site to purchase from you. This in-app shopping feature makes it possible for your followers to shop your products directly on the app, almost like having an additional home for your products aside from your website.

So if you’re having any doubts as to whether this is a feature for you, Facebook reports that over 70% of users use Instagram to find new products, so why not make it easier for them to shop without ever leaving the app?

Social media marketing is its beast, but certainly not one you can’t conquer. A major element of a solid marketing strategy is also includes paid advertisements on Instagram, Facebook, or Google. Accruing sufficient funding to hit the ground running shouldn’t be the most stressful part of your growth journey. Apply for Jenfi funding today, and get pre-approved with no obligations!

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Facebook Marketing Tips for Small Businesses

Here are ten tips for success on Facebook.

The Asia Pacific region has the largest number of Facebook monthly active users with over 1.1 billion visiting the platform every month. The importance of Facebook for marketing your business is undisputed. Yet, in reality, it can be difficult for SMEs to reach a large audience organically.    

As a small business, your budget may not compete with larger companies, but there are powerful and budget-friendly strategies available to you. Without further ado, here are our top 10 tips for success on Facebook

1. Complete Your Facebook Profile

A simple but effective tactic, often overlooked. It doesn't take long to fill in all the sections of your profile. You are likely to have all the information at hand to do so. Customers use Facebook to check reviews, look up addresses or find a phone number. They should never struggle to find that information on your page.

2. Humanise Your Brand

Gone are the days of being a faceless organisation; people respond to people. Your audience wants to get to know your brand and the people behind it, helping them understand your 'why'. Especially in recent times with the push to support local businesses. By humanising your business, you build trust with your customers using your products, ideas and values too.

3. Create Content That Offers Value

You can't throw content on Facebook and hope for the best. You need to post with a purpose. Your content should aim to entertain, inspire, converse, educate or convince.

A great rule to follow is the 70-20-10 rule.

  • 70% of the time post content that supports building your brand
  • 20% of Facebook posts should be content from other sources; relevant business news or interesting articles.
  • 10% should be self-promotional content.

Think about the action that you want someone to take when you post. This will help write your caption and steer the audience to your desired outcome.

4. Create Content That Offers Value

It is best to plan your posts unless you are jumping on a trending topic. Deciding what and when to post should be part of your social media strategy. Posting should complement your other sales and marketing activities.

Devising a content calendar and scheduling your posts in advance will save you time. You can use the calendar to track company communications, social media holidays and sale announcements.

5. Track Useful Metrics

It is easy to get caught up looking at metrics that make you feel good, e.g. likes or followers. You want to focus on things that make a difference to your bottom line. Some vanity metrics are useful to track, engagement, for example; high engagement rate is a sign your audience enjoys your content.

Depending on your business, metrics such as click-through rates, and direct messages received are more meaningful metrics to track.

6. Consistency Is Key

To build a recognisable brand, consistency is key. From colours you use to the tone of voice. To gain traction with your audience, you should be consistent in everything you do.

Consistency extends from the aesthetics of your brand to the amount you post. Not only does your audience like to know when they can expect content from you, but the algorithm does too. Maintaining a predictable posting schedule helps you stay top of people's news feed. When you decrease your posting, Facebook decreases your views. Post regularly, and you get more exposure.

7. Post When Your Fans Are Online

A quick and easy win to maximise your reach. You can find this data in your page insights under the 'posts' tab. This graph tells you the days and hours when your fans are online. Post when your audience is most active.

 

8. Build Relationships With Your Audience

Use social media as a tool, not only to make sales but build relationships too. Don't feel shy about being social. Genuine engagement with others encourages brand trust and supports humanising your business.

Build relationships with other accounts for mutually beneficial growth; new and potential customers, influencers and industry experts.

9. Use All The Facebook Features Available

Use every Facebook tool to promote your business, providing they are relevant.

Facebook Live is a fantastic way to engage your audience in real-time. Your followers will receive a notification when you are live; they can then click to watch. You can host a Q&A or showcase a new product.

Video consumption is a growing and in-demand media type. By 2022, online videos will make up more than 82% of all consumer internet traffic. Focus on uploading video content to Facebook.

Facebook stories are another great tool to increase your organic reach. A story will expire after 24 hours; it's another way to humanise your brand by showing behind the scenes footage or giving an announcement in real-time.

10. Consider Running Targeted Facebook Ads

If you aren't getting the reach you want organically, try Facebook ads. Quickly and effectively target your ideal audience using Facebook's detailed targeting. Due to the data Facebook collects on users, you can target people by location, age, gender and interests. You can also reach people whom Facebook think are likely to be interested in your business because they're similar to your existing customers.

Fund your Facebook ads with Jenfi. Access fund to get your business in front of the right audience in as little as 24 hours.

 

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Stand Out As A Desirable VC Investment Opportunity

Breaking the mold in a pool of hopeful start-ups largely depends on catching the eye of a venture capital firm. When the odds are stacked against you and the most probable answer is “no”, it is pertinent you go the extra mile to stand out from the crowd. VC investments are hard to come by for a reason with over 65% of VC-backed startups lacking the income to return their capital, according to Troy Skalebund former CFO to the Walt Disney Company. The pay-out however certainly warrants the massive team effort it takes to impress the right people. 

Venture capitalists offer an abundance of not only financial backing, but business guidance from seasoned professionals that will give you the space to grow exponentially, as well as a competitive edge in the market. But to get money, the biggest undertaking will lie in your ability to prove that you’re capable of making that cash back tenfold. 

Being an enticing VC investment opportunity may feel like a cutthroat arms race with fellow direct-to-consumer businesses, but you may be surprised that the essential qualifiers to be considered an attractive prospect are things that should already be within your focus as a founder. 

An Exemplary Team

Investors look for a pairing of both good management and an accompanying team of skilled professionals that can demonstrate they function as a unit. Your business should be a well-oiled machine, with the employees, the moving parts, all working together to make everything run smoothly. 

But it takes much more than just skill to run a business. There also needs to be a harmonious blend of passion and a willingness to take criticism to be considered a worthwhile VC investment. This powerful combination of qualities tells investors that you have the grit and resilience to thrive during the growing pains of expansion. 

It’s imperative to remember the obvious but oft-forgotten fact that businesses are powered by people. When you have a team that exhibits the courage to take the bad with the good, you’re a shoo-in for a spot on a venture capital firm portfolio. 

A Promising Proof of Concept

As aforementioned, being an impressive candidate to investors means proving that you can make the big bucks so any evidence of positive early traction is going to great work in your favor. This is because early traction can tell them a lot about how your product is going to fair out in the real world, including if there’s a large enough market with the necessary problems for your product to be an undeniable solution. 

Luckily there’s a lot more than just compelling numbers that you can use to make your case as a viable VC investment. If you have: 

  • Customer testimonials
  • Admissions into competitive incubator programs
  • A beta creation of your product
  • Mentions in media publications about your company 

Together these will undoubtedly prove that you’re ready to take the next big step to scale your business. 

A Custom Customer Experience 

A great benefit to being a DTC company is the ability to obtain behavior analytics and collect data that will help you optimize and personalize your customers’ experience to ensure clicks are converted into sales. 

Proof of exceptional customer experiences for a company is measured by how difficult it is for customers to purchase your product, i.e., any barriers that delay your customer from making a final purchase. It’s also measured by how personalized the experience is. Tailored marketing, as well as tailored product recommendations, create convenience for your customers, thus making it more likely for them to continue buying from you. 

Utilizing customer segmentation is a great example of this. We see this commonly with e-commerce companies in the beauty, television streaming, and fashion industries. Venture capital firms will no doubt be dazzled by a company’s capability to maximize sales to segments of customers all unified by a common need. 

A Reliable Financial Strategy

Venture capitalists are there to give you the necessary funding to level up your company from the incubator to the masses, so ensuring you’re an expert in the numbers game will take you far. A favorable VC investment has a solid financial strategy that dictates when and where they’re going to spend their money and has proof to back up that they’re wise decisions. 

“A conversation centered on a company’s revenue growth, sales funnel, and customer churn causes an immediate connection with investors because when entrepreneurs position themselves as metrics-driven, it’s as though they’ve entered an investor’s mind”, says the founder of investment platform Patricof & Co, Mark Patricof. 

What This Means for Singapore-Based Start-Ups

If you’re a burgeoning start-up in the Southeast Asian market, you’re aware that there’s been a sudden rise in the emergence of companies in the past year racing to fill the gap for innovative, contactless interaction technology created by our post-covid world. 

Because of this surge, the pressure is on for start-ups to make a mark on investors as many companies seldom achieve take-off without substantial funding. Take these strategies and utilize them as a checklist to prepare a pitch-deck that will not only leave investors in awe but also set the stage for long-term success. 

Jenfi understands how stressful obtaining the right funding can be for new start-ups. Luckily, now more than ever there are myriad resources to access funding that’s the perfect fit for your unique needs. For instance, with Jenfi, you can use us to supplement your VC funding or make you look more attractive when it comes time to present to investors. Apply today to discover if you’re eligible for Jenfi funding!

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Bacon ipsum dolor amet prosciutto cupim strip steak boudin. Drumstick shoulder alcatra porchetta. Bacon shoulder short loin drumstick. Rump landjaeger pork loin, brisket pork sausage leberkas spare ribs beef ribs tri-tip pastrami alcatra prosciutto buffalo.

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4 Tips for Better Small Business Networking

Love it or hate it, networking is a key attribute of successful business owners. Building the right relationships can open doors for future customers, employee hires, investors, partners, and more. However, unless you’re a natural born seller, many people do find the networking to be stressful. Learn how to boost your small business networking confidence today with these tips.

Find your own authentic story

People are captivated by stories, especially ones that are genuine and personal. Rather than saying boasting a laundry list of your accomplishments, go for story telling. These are usually the most memorable and allows you to build strong rapport with others. You should have a few personal go-to stories on hand, especially ones about your early days starting the business and the inspiration behind your idea.

Go alone

It may seem counterintuitive but having familiar faces in a networking environment stops you from moving out of your comfort zone. When you are alone, your survival instincts kick in and forces you to mingle with others. You’ll end up meeting significantly more people this way.

Help others without asking for anything in return

Most people go to networking events with the intention of finding people that can help them. Instead, go with the attitude of how can help others. Look for mutual interest and see what knowledge or resources you can offer. This allows you to have meaningful dialogue and leaves a favourable impression to those who interact with you, setting the foundation for a meaningful relationship. After all, who can forget someone that treats them well?

Follow up regularly

The initial legwork of meeting new people helps open many doors and opportunities. However, these contacts quickly go cold if you do not seek to nurture these newfounded relationships. Work on following up immediately after the event and set reminders to periodically check in on key contacts to maintain relationships. This will give you the confidence to reach out when you really need help on something.

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Bacon ipsum dolor amet prosciutto cupim strip steak boudin. Drumstick shoulder alcatra porchetta. Bacon shoulder short loin drumstick. Rump landjaeger pork loin, brisket pork sausage leberkas spare ribs beef ribs tri-tip pastrami alcatra prosciutto buffalo.

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How to Choose a Domain Name for Your Business

Choosing the right domain name for your business is extremely important as this is the online identity that customers will associate your business with, which may differ from your company’s brand name. With over 100,000 new domain names registered daily, knowing the right strategy requires careful planning. Below are some things to consider.

KISS

The age-old adage of KISS (“Keep it simple stupid”) is ever more important when it comes to domain names. Pick a domain name that is easy to spell, one that even someone who is not familiar with your brand can remember easily. Your website domain should be easy enough that a 10 year old would be able to spell it out for you.

Pro tip: Start by searching for domain names with the least number of characters. While most domain names with 4 or less letters are taken, there are still a small handful of 5 or 6 letter domains. Avoid domain names with hyphens as they are more complicated.

Use .com unless there’s an absolutely good reason not to

Despite the growing number of new domain extensions, the gold standard for domain name extension remains .com for good reason (think of the last time you went to a website of a major brand that did not use this extension). Always go for this unless there is a strong legitimate reason not to. Remember that if the .com is taken, using a different extension will make it harder for your visitors to find you as they may accidentally type in your domain but with the .com extension, ending up on that site instead!

Pro tip: If your business will only be based in Singapore and focusing on Singapore based customers, you can also consider using .com.sg extension as it may improve your search engine ranking and visibility in Singapore in certain cases. Note that you will need to be a Singapore based company registered in ACRA in order to be able to do this. You can always get both .com and .com.sg if they are available to ensure you have secured the most important extensions for yourself.

Social handles

A common oversight is not researching whether the domain name you choose has the same handle available in the relevant social media channels that you will be using. The reason this is important is that this allows you to maintain a singular name in order to communicate with your visitors and customers, regardless of channel. Don’t overlook this as the last thing you want to do is spend money registering the domain names only to find out that you cannot get any of the social media handles.

Move fast

Lastly, it is important to move quickly when you find a domain name available as it is first come first serve. If someone else has taken a domain name you like, you may want to enlist the help of a broker or domain registrar to help facilitate a deal. However, it may be much more expensive.

With these tips, you are ready to choose a domain name for your business.

Drei Alquiros

Bacon ipsum dolor amet prosciutto cupim strip steak boudin. Drumstick shoulder alcatra porchetta. Bacon shoulder short loin drumstick. Rump landjaeger pork loin, brisket pork sausage leberkas spare ribs beef ribs tri-tip pastrami alcatra prosciutto buffalo.

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