Category: Entrepreneurship

Brand Synergy: Favoriot’s Journey with MDEC at Smart Nation Expo 2023

In an increasingly digital world, there’s a prevailing sentiment that virtual channels are the primary avenues to connect with potential customers. True, platforms like social media have revolutionized outreach, but one must never overlook the age-old method of face-to-face interaction at trade expos and exhibitions. For Favoriot, this couldn’t ring more true. Here’s why.

1. A Personal Touch

No matter how advanced technology gets, nothing can replicate the personal touch of direct interaction. Speaking to someone in person offers a depth of connection and trust that’s hard to achieve online. It allows for spontaneous questions, real-time demonstrations, and genuine reactions.

2. Thought Leadership Beyond Seminars

Being invited as a speaker or panelist at conferences is an honor. It positions one as a thought leader, amplifying the company’s voice and brand in the industry. Yet, the confines of a seminar room have their limitations. The exhibition floor, bustling with activity, offers a more direct and organic way to engage and influence a broader audience.

3. Live Demonstrations

There’s a saying, “seeing is believing.” Having a booth at an expo allows companies like Favoriot to showcase their products live, allowing attendees to witness the tangible benefits. A live demonstration not only grabs attention but often becomes the convincing factor for potential customers.

4. Quality Interactions

The concentrated nature of a 3-day expo ensures a wealth of potential clients in one place. The environment fosters seriousness, with visitors genuinely seeking solutions and partners. Every conversation at the booth is a potential lead.

5. The MDEC Advantage

Our recent participation at the recent Smart Nation Expo 2023 (19-21 Sept 2023), under the banner of MDEC Pavilion, was a testament to the power of brand collaboration. MDEC’s renowned brand became a magnet, drawing attendees and providing Favoriot with a prime opportunity to shine.

6. Post-Event Momentum

An expo doesn’t end when the booths are packed away. The real work begins afterward with the follow-up. Every person that expressed interest, every business card exchanged, becomes a potential client, partner, or project collaborator.

In conclusion, while the digital realm provides a vast ocean of opportunities, trade expos offer a concentrated pool of potential. For Favoriot, they have proved invaluable, and our recent success at Smart Nation Expo 2023 is just a glimpse of the potential such events hold. We’ll continue to harness the power of face-to-face interactions, reaching out and connecting in the most personal way possible.

The Power of Public Speaking: From Thought Leadership to Business Opportunities

In the bustling landscape of startups, public speaking is often perceived as just another marketing strategy. However, my journey with my startup, Favoriot, taught me that it’s much more than that. Here’s how public speaking not only established me as a thought leader in IoT, Smart Cities, and IR 4.0 but also subtly paved the way for business opportunities.

The Early Days: Building a Personal Brand

When I started out, I was often invited to share my knowledge on various tech topics. And I did, wholeheartedly. These engagements were purely knowledge-based, leaving out any mention of Favoriot. This approach was intentional, aiming to build trust and credibility without appearing overly promotional. Over time, these efforts earned me a reputation as an IoT thought leader. But while this title brought recognition and esteem, it failed to translate into tangible business leads for Favoriot.

The Pivot: Injecting Favoriot into the Narrative

I soon realized that while being recognized as an expert is rewarding, it wasn’t fulfilling my ultimate goal – to get Favoriot known in the industry. I needed a new strategy.

Instead of keeping my talks strictly academic, I began to subtly incorporate elements of Favoriot’s products and services. I showcased real-world examples of how IoT platforms, especially like ours, can build effective IoT solutions. A couple of slides bearing the Favoriot product logo turned out to be enough to sow the seeds of brand awareness.

The Impact: From Awareness to Business

Gradually, the narrative began to shift. The moment of epiphany would often come during networking sessions or casual interactions when someone would say, “Oh, you’re from Favoriot? We’ve heard of you.” That statement epitomized the change.

While turning awareness into paying customers wasn’t instantaneous, it certainly laid the groundwork. Over time, some of those who had a mere awareness of Favoriot became interested parties, and eventually, paying customers.

Conclusion: A Strategy Worth Investing In

Public speaking is a long game, especially when it’s used as a business promotion tool. However, its effects can be long-lasting and profound. By transitioning from pure knowledge-sharing to subtle brand promotion, I found a sweet spot that not only solidified my position as a thought leader but also carved out a niche for Favoriot in a crowded market.

So, to all startup enthusiasts and entrepreneurs, remember: Public speaking is not just about sharing what you know; it’s also about weaving in who you are and what you offer. That blend can be a game-changer.

Bridging Malaysia’s IoT Talent Gap: The Favoriot Way

In the expanding universe of the Internet of Things (IoT), Favoriot has carved its niche with a clear focus – IoT training. But why the emphasis on training? The answer lies in the challenges posed by offering an IoT platform-as-a-service.

1. The Reality Check of an Empty Platform

An IoT platform’s potential remains untapped if there are no takers. When Favoriot first ventured into offering its IoT platform service, the uptake was dishearteningly minimal. A dominant reason? The brand ‘Favoriot’ was a new kid on the block, unfamiliar to the tech-savvy crowd and students who leaned towards platforms they recognized like ThingSpeak, ThingsBoard, Blynk, or Azure.

2. Identifying the Gap in the Market

We noticed a pattern. The Malaysian market had more resellers of IoT products than genuine product creators. For a nation aspiring to transition from a consumer to a producer, this spelled stagnancy. There’s a gaping chasm between importing technology and producing it. To bridge this gap, the nation needed talents capable of pioneering their own IoT innovations.

3. The Favoriot Pivot to Training

Recognizing this void, Favoriot decided to channel its energies into IoT training. From basic tenets to advanced nuances and IoT data analytics, we designed a comprehensive training regimen. The introduction of Professional Certificates was a game-changer, amplifying the professional credibility of participants.

Today, over 15 Malaysian universities have integrated the Favoriot IoT platform into their curriculum, predominantly in final year projects. Some institutions are even contemplating introducing Favoriot’s Professional Certificates, testament to its industry relevance.

4. Expanding Beyond Training

Does Favoriot’s vision culminate with training? Emphatically, no! Our IoT platform has been embraced by diverse sectors, from manufacturing and agriculture to smart cities. The training was the catalyst, the spark that ignited IoT adoption across Malaysia.

In Conclusion

Our journey at Favoriot is characterized by adaptability. We saw a need, recalibrated our strategy, and are now playing a pivotal role in Malaysia’s IoT talent evolution. As we look ahead, our commitment remains unchanged: empowering the nation through state-of-the-art IoT solutions and training.

The Myth of Overnight Success: The Inspirational Story of Colonel Sanders and KFC

In our society, there’s a pervasive belief that if you haven’t achieved your dreams by a certain age, you’ve missed your chance. We often hear tales of prodigies and young entrepreneurs, creating a skewed perception of success. However, the story of Colonel Harland Sanders, the founder of KFC, busts this myth wide open. At 62, an age when most people think of retiring, Sanders started what would become a global fast-food empire. But is the story as straightforward as it seems?

Colonel Sanders: Behind The Age Number

It’s tempting to see Sanders’ journey as an overnight success story that happened late in life. Yet, to fully appreciate it, one must delve into the details. From a young age, Sanders took on various jobs and faced his share of challenges. By 40, he ran a restaurant, which means he had two decades of experience in the food business before KFC became a household name. This was not a sudden leap into the unknown but a culmination of life-long learning, grit, and passion.

The Secret Recipe and Building from Scratch

Sanders’ secret chicken recipe was renowned among locals and travelers long before the brand KFC existed. This gave him a unique advantage. In contrast, many entrepreneurs, like myself with Favoriot, have to start with a blank slate, forging a brand identity and customer base from scratch.

Yet, this difference is precisely what makes the entrepreneurial journey so fascinating. Each story is unique. Every path is its own, filled with its own set of challenges, risks, and rewards. Some entrepreneurs may find smooth sailing, while others brave tumultuous storms. Some have a well-laid roadmap, while others venture through uncharted territory.

Entrepreneurship: A Journey of Resilience

The tale of Colonel Sanders is not one of immediate success but of persistence. He faced numerous rejections before his recipe was accepted. The narrative underscores that it’s not about when you start but how you persevere.

For those of us in the entrepreneurial world, these stories resonate deeply. Our journeys may differ in detail, but the underlying themes remain consistent. Determination, resilience, and adaptability are paramount.

In Conclusion

Colonel Sanders’ story with KFC is not just about age but about resilience, experience, and the value of never giving up. For budding entrepreneurs, his journey is a beacon of hope and a testament to the fact that it’s never too late to chase your dreams. Every journey is unique, and while not all paths will lead to global success, they all provide lessons that shape and enrich us.

Remember, entrepreneurship is less about the destination and more about the journey, the lessons learned, and the passion that drives you.

Facing the Fear: My Reluctant Leap into the Startup World

Building a startup is no small feat. But sometimes, it isn’t the practical challenges that seem insurmountable – it’s the mental barriers we impose on ourselves. My journey from dreaming of robots to hesitating at the brink of entrepreneurship, and finally taking the plunge, is a testament to this very sentiment.

Childhood Ambitions: A Different Kind of Dream

As a child, the allure of science was undeniable. The ambition was singular: become a scientist, create robots, and make a dent in the technological world. Entrepreneurship was a path I’d never considered. In my eyes, it belonged to a different breed of dreamers.

Career Evolutions: The Safe Harbor

Life led me from the academic hallways of a university to the structured realms of the corporate world. My aspirations, while ambitious, were safely nested within known territories. The title of a Chief Technology Officer was my North Star. The CEO’s chair? That felt like an aspiration for someone else, someone more daring.

A Glimpse into Possibilities: Silicon Valley

2016 brought with it a paradigm shift. Silicon Valley was an eye-opener. Everywhere I looked, there were pioneers building their dreams, undeterred by age, background, or experience. The air was thick with innovation and courage. But despite this inspiration, my internal battles raged on. Could someone in their 50s, with no experience in building a company from the ground up, truly become a founder?

Confronting My Fears: The Realization

The hurdles seemed endless: no product, no team, no market understanding, and certainly no revenue. Yet, beneath these tangible concerns was an underlying fear of the unknown. I had built a narrative that entrepreneurship was a young person’s game, and my time had passed. But as the adage goes, “Better late than never.” I took a leap of faith.

The Entrepreneurial Grind: A Journey of Discovery

Embarking on this journey has reshaped my perspective. While books offer wisdom, it’s the lived experiences – the tough calls, the sleepless nights, the highs and lows – that truly illuminate the entrepreneurial path. It’s a road less traveled, filled with challenges but also unmatched learning and growth.

Conclusion: A Tribute to the Fearless

Today, as a founder, my respect has deepened for those who dare to dream and act, regardless of the odds. It’s a tough journey, but to every entrepreneur out there, know that you’re not alone. And for those hesitating on the brink due to self-imposed limitations, remember: the best time to start was yesterday, the next best time is now.

Multiple Revenue Streams from a Single Product: The Favoriot IoT Platform Experience

In today’s business landscape, diversifying revenue streams is not just a strategy; it’s a necessity. When we initially introduced the Favoriot IoT platform as a service, our vision was singular – a subscription model. Yet, the journey unfolded layers of potential we hadn’t initially perceived.

1. Subscription: The Starting Point

Our journey began with the primary notion that users would subscribe to our platform for consistent access and updates. It was a straightforward revenue model, and it worked.

2. IoT Training & Certification: Leveraging Expertise

Soon, we realized the potential of intertwining education with our product. The IoT domain was booming, and a knowledge gap existed. We stepped in to offer IoT training, capitalizing on the platform itself as the main tool. This approach gave users hands-on experience. Furthermore, with the Favoriot professional certificates, we created a brand-centric credibility in the IoT sector.

3. On-Premise Licensing: Meeting Diverse Needs

Recognizing the diverse needs of different businesses, we shifted from solely an online subscription model. Some firms desired the reliability and control that came with on-premise solutions. So, we offered a perpetual licensing model, catering to those who wanted the platform within their infrastructural bounds.

4. Hardware Bundling: Enhancing Product Value

As the IoT universe expanded, we saw manufacturers eager to streamline their user experience by bundling their hardware with reliable software. By integrating their hardware with the Favoriot platform subscription, we achieved a synergy, creating a more comprehensive product for the end-user.

5. Tailored IoT Solutions: Expanding Horizons

Our final eureka moment was identifying the need for industry-specific IoT solutions. Companies approached us with unique challenges, and we saw the opportunity to tailor our platform to fit diverse verticals. This not only opened new revenue channels but also positioned Favoriot as a versatile, adaptive, and solution-centric platform.

Conclusion: The Core and the Expansions

Favoriot started as a singular platform but evolved into a nucleus around which myriad revenue streams revolved. From IoT education to product development and solution deployment, Favoriot became synonymous with versatility in the IoT domain. Our journey is testament to the fact that a single product, when viewed with an innovative lens, can sprout multiple avenues of income and value creation.

Why ‘Picking My Brain’ Isn’t Free Anymore: A Business Perspective

Back in the day, the question “Can I pick your brain?” was music to my ears. As someone eager to impart knowledge and share experiences, I always took these requests as compliments. I believed it was a testament to the value others saw in my insights.

The Early Days: Open Arms and Open Doors

In the beginning, I was a beacon of assistance. Why? Primarily, I had the luxury of time. I could afford to spare an hour or two to discuss ideas, provide feedback, or simply share my perspective on things. It was immensely gratifying, knowing that people saw me as a source of valuable information. Moreover, I genuinely enjoyed sharing. After all, isn’t knowledge most valuable when it’s shared?

The Middle Phase: The Emergence of Doubt

However, as time went on and my calendar started to bulge at the seams, a new sentiment started to creep in. Each “Can I pick your brain?” began to feel less like an innocent request and more like an intrusion into my already packed schedule. The intention behind the question also began to blur. Was it truly about seeking knowledge, or was there an underlying motive? Was I inadvertently feeding potential competitors? Were these sessions providing equal value to my business, or was I merely acting as a free consultancy service?

The Reality Check: Quantifying the ROI

After countless coffee dates, luncheons, and brainstorming sessions, I took a moment to reflect. How many of these interactions led to tangible opportunities for my company? Unfortunately, the answer was: very few. It seemed that the balance of value had tipped. While I was pouring out insights, expertise, and time, there wasn’t much trickling back in.

The Present: A More Guarded Approach

Nowadays, my approach to these requests has matured. My time, just like anyone’s, is finite and valuable. I’ve become more discerning. It’s not about being unapproachable or stingy with knowledge. Instead, it’s about ensuring that any interaction is mutually beneficial. The objective isn’t to shut doors but to ensure that both parties walk away feeling enriched.

To those who genuinely seek knowledge and collaboration, my door remains open. However, the days of one-sided “brain-picking” are firmly in the rearview mirror. The ultimate lesson? Time is a resource, and like any resource, it needs to be managed wisely. As much as I love to help, it’s essential to remember that every professional interaction should be a two-way street.

Building the Favoriot Brand: My Journey Through Alternative Media Channels

Starting a small startup like Favoriot comes with its own set of challenges, one of the biggest being visibility. When traditional media channels like TV and radio are often too costly or selective, it’s time to get creative. Here’s my personal account of how we used alternative mediums, primarily social media channels, to build and promote the Favoriot brand.

The Dilemma: Traditional Media vs. Budget Constraints

Getting featured on mainstream media is a dream for many startups, but the reality is harsh. Either you’re compelling enough to get picked up organically, or you pay a premium to make it happen. For a small startup, both options are challenging. This is why we turned to the more budget-friendly and engaging world of social media for our marketing needs.

Our Alternative Media Arsenal

We realized that for every traditional media channel that seemed out of reach, there was an alternative platform online that could be just as effective:

  • Podcasts Instead of Radio: We started our own podcast series, sharing industry insights, interviewing experts, and discussing our journey. It’s a fantastic way to create a more personal connection with our audience.
  • YouTube Instead of TV: We launched a YouTube channel, using it as a platform to showcase product demos, customer testimonials, and behind-the-scenes footage of life at Favoriot.
  • Digital Posters: We replaced expensive billboards with visually striking digital posters on platforms like Instagram and Pinterest.
  • Blogs Instead of Newspapers: Our blog serves as a hub for sharing valuable content, from how-to guides to industry trends, keeping our audience informed and engaged.

Zeroing In: Focusing on High-Impact Channels

We started by casting a wide net across various platforms, but soon noticed that some channels yielded better results in terms of engagement and followers. After some analysis, we narrowed our focus to TikTok, YouTube, Facebook, and LinkedIn. These platforms provided the right audience and the engagement metrics we were looking for.

More Than Just Sales: Building Trust and Brand Recognition

Our goal was not just to drive sales, but to create a brand that people could know and trust. We are continuously sharing updates, celebrating milestones, and telling stories that resonate with our audience. Whether they make a purchase now or later is secondary; we want Favoriot to be a brand that people remember and recommend.

Lessons Learned

  • Be Adaptable: Not all channels will work for you. Don’t hesitate to pivot when needed.
  • Content is King: Good quality content can make a significant difference in engagement.
  • Consistency is Key: Keeping a consistent posting schedule helps keep the brand fresh in the minds of the public.

Conclusion

Building the Favoriot brand using alternative media channels has been an enlightening journey. It has taught us that you don’t need a big budget to make a big impact. By using the resources available to us wisely and focusing on building a strong, trustworthy brand, we’ve succeeded in carving out our own space in the market. And this is just the beginning.

The Power of Direct Customer Outreach: Why Mailing Lists Trump Social Media Followers in Startups

In the early stages of a startup, it’s easy to get enamored with the idea of building a massive social media following. Don’t get me wrong; a strong social media presence is important. However, the thrill of seeing your follower count rise can distract from a more intimate and arguably more effective form of communication: the mailing list.

The Social Media Dilemma

While it’s true that social media platforms offer incredible reach, the dynamic is inherently different. The audience is far less captive; your posts are just one among hundreds or thousands that your followers scroll through each day. There’s also the taxing task of growing your follower base organically, which requires consistent posting, engagement, and time—a daunting endeavor for a startup hustling to get off the ground.

The Mailing List Advantage

Emails offer a direct line of communication to your audience. When someone opts to subscribe to your newsletter or leaves their email to download an eBook, they’re expressing an explicit interest in what you have to say. For my startup, Favoriot, this direct approach led to a more global audience. By offering free eBooks filled with tips, tutorials, and articles on IoT (Internet of Things), we not only gained an audience but also provided value upfront. This strategy led to a global following, including overseas customers who subscribed to our platform.

Value Before Selling

One key to successful mailing lists is providing genuine value before ever making a sales pitch. People are savvy; they know when they’re being sold to and can easily be put off by overt sales tactics. On my LinkedIn, for instance, my newsletter isn’t just about Favoriot. It’s about my journey in entrepreneurship and my general insights into IoT. This balanced approach helps establish trust, rapport, and credibility—all crucial for a startup looking to build a loyal customer base.

Cutting Out the Middleman

What’s more, once you’ve built a substantial mailing list, you gain independence. Unlike social media platforms, where algorithms and policies dictate your reach, your mailing list is yours to control. In my experience, I no longer need third-party mailing software to send out thousands of newsletters.

A Global Objective

My objective is clear: to gain more followers and customers, particularly from overseas markets. The key is to strike a balance, sharing valuable information without making the reader feel like they’re merely a potential sale. People want to know who you are, what you stand for, and how you can add value to their lives or businesses.

In Conclusion

While it’s tempting to pour all your efforts into building a social media following, remember that emails offer a more direct, intimate line of communication with your audience. Done right, a mailing list can be a powerful tool for customer acquisition, retention, and global reach—all while adding genuine value to your subscribers’ lives.

So if you’re in the early stages of your startup, or even if you’re more established but haven’t yet explored the power of mailing lists, now is the time to start. Trust me, your future self—and your growing customer base—will thank you.

Don’t Ignore Strangers: The Untold Secret of Our Startup’s Early Customer Base

In the embryonic stages of a startup, every founder’s vision is filled with the friends and family they imagine using their products. The mindset is that those who already know and trust us will likely be our first customers. But what if I told you that’s not always the case? For us, our earliest and most loyal customers were not people we knew. They were not the ones showering us with praises or feedback. Strangely enough, they were complete strangers.

From Strangers to Stakeholders

When we launched our Internet of Things (IoT) offerings, our instincts told us that our first customers would come from our immediate circles. But the opposite happened. The majority were people we had never met, who learned about us from someone else or stumbled upon our social media posts. Without a single request for a product demo or a questionnaire, these individuals took a chance on us. They were willing to pay for our solutions, no questions asked.

The Value of the Unknown Customer

The phenomenon of strangers becoming early adopters is not just surprising; it’s enlightening. These are individuals who don’t have any preconceived notions about us or our capabilities. Yet, they believe in the solution we offer enough to invest in it. These early adopters give us something invaluable: proof of concept. With them on board, we have tangible evidence that our solutions have market value, a powerful tool to attract more customers.

Trust, But Verify

While we are grateful to have these strangers believe in us without solicitation, it’s also a double-edged sword. The absence of initial feedback means we have to be extra cautious, constantly iterating and improving to ensure we meet the expectations that these customers have implicitly set by trusting us.

Why Strangers Matter

The power of these unknown first customers lies in their organic discovery of your product. There is no bias, no friendship obligations, just a straightforward transaction based on perceived value. The chances are high that if a stranger finds value in your solution, so will others.

Conclusion: Don’t Ignore the Unknown

While it’s natural to expect friends and family to be your first customers, don’t overlook the potential in strangers. These are the people who can give you an unbiased evaluation of your market value. They can be your best advocates, and they bring in an added layer of credibility when pitching to future prospects. We owe a lot to the strangers who became our early customers; they gave us proof, validation, and most importantly, the momentum to move forward. So, don’t ignore strangers; they might just become your most trusted customers.