COACHING CLASS # 4 The lessons that we got from #BeSociopreneur Coaching Class # 4 with STOQO and Alpha JWC Venture are: FROM STOQO: In building a business: -must have a passion to run the business and have to confidence/sure that the business that she/he starts will be successful -businesses can survive because their founder "drive and have a lot of great ideas" -skill set & personality (balance) -handle investors -make sure you have clearly assigned in responsibility from the start Pitching: -short but clear -explaining "the idea" -potential -have team member expertise -commit capital to the business -you understand the market and competitive -focus initial market and grow from there How is the best elevator pitch? -It's really about getting to know the audience -find investors who determine the most decisions -grab their attention How to follow up after the pitch: -do not be afraid to email them STOQO When Sherly Marcelina (Head of Commercial Development of STOQO) and Tri Ahmad Irfan (Engineering Lead of STOQO) joined STOQO, STOQO was really in the initial stages, what Sherly and Irfan thought was "whether I would be wasting time here, will this start up develop? Etc ", but what Sherly and Irfan did was to believe in STOQO and develop together with STOQO. STOQO has a good foundation "their people & team". STOQO -Gender in team (balance) -Not all work can be done by women or men (every gender has uniqness) -Talking with costumers can giving insightful -Have fundamental belive in STOQO’s Missions The biggest challenge when STOQO starts: starting from sketch, prioritation is the key, acknowledging that we are human and have limited capacity. Lesson Lerarned: 1. Make sure the product that we created, the technology we built, will help business to move and forward skills 2. Selectivity choose what we work on 3. Encourage everybody FROM ALPHA JWC VENTURE: 3 Kinds of Investment in general (many persons asking this): 1. Angel Investment (basically investment from individuals, ex: from mother, father, friends, network) 2. Venture Debt (a form of funding in the form of loans / debts, this funding is given to you, you don't need to give any equity, but you are required to pay back this debt). Quite flexible, just make sure you can repay 3. Venture Equity (give certain amount as well, usually is higher than "Angel" because it's from the institution, take certain equity from the company). Usually done by venture capital or any kinds of accelerator. Pick the investor very carefully, imagine this is like a marriage, they will be with you forever. In starting its business, STOQO has futuristic ideas, STOQO also has 2 founders who work in their fields and complement each other, that's what makes Alpha JWC Venture sure to invest in STOQO.