In the third edition of Face2Face with Innovators session hosted by Global Entrepreneur Xchange(GEX) in collaboration with Entrepreneur Insight, co-founder of Waze, Uri Levine, took the stage as keynote speaker for an inspiring and informative presentation on How Entrepreneurs can Create and Scale a Global Brand.
GEX is an independent and private coalition for entrepreneurs created to address reasons why 83% of businesses fail within 18 months. Comprised of CEOs, experts and professionals, GEX seeks to be a go-to global platform, portal and partner that empowers, equips and educates other CEOs, business leaders and entrepreneurs through the creation, curation and delivery of actionable and high quality knowledge via a range of its services.
Face2Face with innovators is a platform and forum that enables entrepreneurs and CEOs in SEA to come up close with some of the world’s most renowned, iconic and game changing innovators.
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In the session with Uri which was held this afternoon, attendees received first-hand insight on Waze’s journey of being a startup to eventually becoming one of the world’s largest community-based traffic and navigation app acquired by Google in 2013 for US1.1billion.
Here are some key takeaways from Uri’s presentation and Q&A session:
- Contrary to popular advice, Uri believes entrepreneurs must fall in love with the problem they are looking to solve, rather than the solution.
- Failing and failing fast is critical as the mistakes take you closer to a success
- The startup journey is a long one starting from initial enthusiasm to eventually finding the path to sustainability, it’s a nonlinear journey filled with downs such as opportunity cost and crash of ineptitude
- The first part of your business’s journey before it achieves monetisation (in Uri’s case it was 7 years), starts with figuring out your product market fit
- Finding your product market fit, only one measurement metric matters: retention
- How to acquire and keep customers – by speaking and listening to them and taking actions based on their feedback
- How to create a billion dollar business – create a lot of value after finding a big problem
To find out more about Face2Face with Innovators and other services offered by GEX, visit www.globalentrepreneur.com
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