The entrepreneur is an odd creature. In a society the place failure is appeared down upon greater than anything, entrepreneurs danger ridicule and assets once they select to begin their very own enterprise.
Failure shouldn’t be one thing usually appeared properly upon in Singapore. From a younger age, many people have an intense worry of failure being drilled into us. Whether or not it is a worry of failing in exams, failure in our careers, or anything, failure is probably going one of many high few issues that we as Singaporeans worry essentially the most.
But, failure nonetheless finds a technique to get to many people — none extra so than startup founders: an estimated 90 per cent of startups fail, and 10 per cent of them fail throughout the first 12 months. However as they are saying, to fall is to not fail — failure shouldn’t be getting up once more.
This might not be extra true for Wong Wai Jeat, who rose from the ashes of two failed startups to discovered award-winning startup Ximple.
When every little thing goes flawed, attempt once more
Wai Jeat had at all times dreamed of getting a profitable enterprise. To him, it was a method of giving again to the neighborhood, and impacting actual change in that neighborhood. To that finish, Wai Jeat truly began two firms earlier than Ximple, providing enterprise consultancy and options.
But, each weren’t a part of the ten per cent of startups that succeeded and by 2014, Wai Jeat had determined to name it quits on each of them.
These weren’t the one challenges that he confronted throughout that 12 months. His private life additionally got here crashing down as his father handed on and he went by means of a messy divorce that noticed him lose his spouse and youngsters.
Having misplaced every little thing, Wai Jeat determined to channel his energies into the very last thing that had not left him — his dream of beginning a profitable enterprise.
Help was not forthcoming to say the least. Wai Jeat remembers that amongst his family and friends, a recurring query that he heard was ‘Why don’t you simply get a secure job?’.
It will get demoralising at instances, however I respect their concern reasonably than seeing it as a criticism. They’re involved if I’ve sufficient to feed myself and lead a good life reasonably than working 24/7 every week with little to spend.
– Wong Wai Jeat, founder and CEO of Ximple
Lastly, in 2017, whereas attempting to organise his personal warranties for his personal home equipment, he struck gold.
The realisation hit him that he was in all probability not the one one who discovered warranty-tracking and electronics disposal a problem and struggled with it — and this was one thing that he may very properly assist the neighborhood sort out.
Studying from previous errors
This time, Wai Jeat was decided to make his startup successful and he took the time to critically study the place he had gone flawed for his earlier two startups.
“For each of my earlier startups, we had skills who had been good with tech, however we sorely lacked anybody who may assist to market the enterprise properly. But, pitching for funding or working with enterprise companions requires quite a lot of salesmanship. I realised I wanted to promote values reasonably than options — a tough swap since as a technical particular person, I’m used to the latter,” he explains.
To present Ximple a greater shot at success, Wai Jeat pushed himself to enhance on his personal salesmanship. He enrolled himself in public talking programs, and actively sought to attach with inventive individuals to be taught from them.
Even with this effort, Wai Jeat solely paid himself S$2,500 a month — a significantly low sum for the quantity of labor that he was placing in.
All through this, Wai Jeat continued to enhance on his concepts, and ultimately arrived at Ximple’s present mannequin. Whereas the thought was initially for an app to assist shoppers observe their electronics warranties, Wai Jeat expanded on it to additionally embrace choices for shoppers to buy these electronics, in addition to to assist them dispose of those electronics correctly.
Ximple began as a guaranty tracker for all client electronics merchandise. Monitoring client guarantee helps make our lives simpler. However the preliminary thought has to evolve as a result of a guaranty tracker [alone] can’t generate sufficient stickiness to the platform.
As shoppers, we at all times query ourselves: what extra is required with a purpose to present a extra holistic expertise? That’s how Ximple remodeled itself from a small guarantee thought to what you see now: an app that helps shoppers with buying, proudly owning, and disposing of their electronics.
– Wong Wai Jeat, founder and CEO of Ximple
Ximple helps shoppers observe their warranties by means of the app’s cloud-based platform, and when customers want to substitute their merchandise, it additionally helps them store for brand new merchandise and observe warranties for these new objects as properly.
As for the changed merchandise, customers may also promote, recycle, or donate these gadgets by means of the app.
At Ximple, we are attempting to advertise a round economic system the place merchandise’ lifespans will be maximised, and merchandise will be recycled on the finish of their life. It’s a rising community of companions who will help to make it possible for digital waste is minimised, whereas shoppers get essentially the most out of their purchases.
– Wong Wai Jeat, founder and CEO of Ximple
It presently has greater than 50,000 month-to-month customers
By many measures, Wai Jeat has succeeded in his aim of constructing a profitable startup. Ximple now boasts greater than 50,000 customers a month, and has amassed US$1.7 million in funding.
On high of this, Ximple has additionally been awarded a Certificates of Benefit on the 2021 Asia Good App Awards.
Even the COVID-19 pandemic has not managed to maintain it down, because the app noticed higher traction as buying moved on-line. Whereas the onset of the pandemic delayed plans for Ximple’s abroad growth, the app noticed a rise in utilization as shoppers flocked to make use of its worth comparability and e-commerce capabilities.
At present, Ximple is increasing into Malaysia, and has even been named because the official supplier of sensible residing options for an up-and-coming sensible metropolis property growth in Malaysia.
However Wai Jeat is already planning for the long run past Malaysia. “Whereas solely shoppers in Singapore and Malaysia will get the complete expertise of Ximple for now, now we have additionally acquired curiosity from different international locations just like the Philippines, Australia, and India. As soon as we discover the precise companions, we are going to develop to different international locations as properly,” he shares.
In Singapore, the place failure is usually frowned upon and our paycheck is a standard yardstick to measure success, ardour typically doesn’t pay.
Wai Jeat’s story is one in all boundless braveness and willpower, one which reveals that we are able to nonetheless discover what the Japanese name ‘ikigai’ — one thing that one is nice at, loves, will get paid for, and can also be one thing that the world wants.
Ximple’s story is de facto that straightforward — it’s a firm that helps shoppers and the surroundings, and it’s additionally an organization that was based from Wai Jeat’s realisation of how shoppers can profit from the advances of know-how; one thing that he has been captivated with.
As Wai Jeat put it himself, “On the finish of the day, the problem in constructing your personal enterprise doesn’t simply stem from the lengthy hours you’re keen to sacrifice, or the center to take possession over one thing by your self. It’s additionally about discovering out what individuals want and constructing one thing to assist them.”
Featured Picture Credit score: Ximple
