Fitting your own oxygen mask first

Before I get into this week’s article, I want to stress that my reason for posting it is not intended to be self-serving, or self-aggrandising – I’m fully aware of such pitfalls, as captured wonderfully in The State of LinkedIn on Twitter. Instead, I hope it’s received as an example of paying it forward. And all starts with some advice I heard a number of years ago.

My erstwhile colleague, Dale Simpson, likes to use the following analogy when coaching his clients on career development, leadership and directorship:

“Be sure to fit your own oxygen mask first”

The reason being, how can you help others if you don’t take care of your own needs first? It’s not about being selfish, but about being present and able to serve others. It also recognises that in order to be useful, we need to work from a position of stability and resilience ourselves.

Dale also likes to use Maslow’s Hierarchy of Needs in his work. Both Maslow and the oxygen mask have clearly entered my own vernacular. A couple of weeks ago, I was listening to a neighbour at my co-working space talking about the work he was trying to do to help others become more resilient and overcome trauma. As the conversation went on, it was clear that his own circumstances were challenging, due to insecure accommodation, erratic income and other factors. He had also had to overcome a great deal of adversity and other challenges in his life.

I asked him if he had heard of Maslow – he hadn’t. I suggested that he consider what his own needs were, so that he would be better able to help others. A little while later, I went back to my desk and found the above note he had left for me.

I’m sure once he manages to sort out his own circumstances, he will be a fine coach and excellent mentor, because he was very certain of his purpose – he just needed to adjust his own oxygen mask first.

Next week: Steam Radio in the Digital Age

Startup Vic’s Pitch Night for Migrant and First Generation Founders

For their October pitch night event, Startup Victoria teamed up with the City of Melbourne and Victoria University to showcase migrant and first generation founders. With sponsorship and support from Stone & Chalk, Weploy, and Marketing Entourage, the panel of judges was drawn from Hatch Quarter, City of Melbourne, Victoria University and WellAware.

Pitches in the order they presented (websites embedded in the names) were:

HealTab

Describing itself as “Your Health Companion”, the founders proclaim (somewhat paradoxically) “we believe in meaningful human relationships via technology”. The idea behind this startup draws on the founder’s own personal experience of trying to find emotional, social and psychological support while undergoing a medical procedure. The team believe they have identified a marketplace solution that allows users to find comfort, support and companionship when they need help prior, during and after medical diagnosis, treatment and rehabilitation.

The founders point to the economic effect when patients are “no shows” for their appointments, and have designed a platform to help patients select health companions.
Users pay per transaction, of which Healtab take a 30% commission (based on their research of other marketplaces). It was not clear exactly how the payment, commission and disbursement of fees works, especially as companions get to set their hourly rates, which can range between $25 and $300.  Nor was it clear whether it is the patient who is paying, nor to whom. For example, I would like to have heard how this service fits in within the existing HICAPS payment system and health insurance (both Medicare and private health cover.

The founders say they are talking to health insurance providers, but given the fact that private health insurance is based on community rates, the ability to have such a wide range of user pricing within a policy may be severely limited. Moreover, since insurance policies are having to be regraded to reduce the complexity and confusion when trying to compare coverage, Healtab will have to figure out where their service will fit in terms of extras etc.

Asked by the judges as to how the platform establishes user trust and performs accurate patient/companion matching, the founders claim they are using psychometric testing, although no evidence was provided.

PT Mate

This personal training client management system includes a client app (to allow interaction with their trainer) plus a secure billing and payment system. Offering a freemium pricing model, including a 45-day free trial, the founders state that the costs are tax deductible for business users.

It’s not clear if the team have actually built an app – I have tried registering for a free trial on their website, but I cannot create an account. Overall, this pitch felt a little underdone.

One other point to note – the slide they team presented on competitor analysis was a little disingenuous, as it appeared as if none of the competitors offer any of the services PT Mate is providing. This underlines the need to present pitch information clearly, and think about screen resolution, images, diagrams, fonts and colours especially when projecting onto a large screen.

Undivide

Undivide offers an enterprise and SME solution for staff onboarding, training and compliance. Replacing existing manual and paper-based compliance systems, it claims to manage people, processes and tasks in one place.

Currently gaining traction within the transport & logistics industry, the business model is based on scale rate (per user per month) subscription plans.

The founders claim the platform is configurable, and therefore clients don’t need their own developers. It is also filling in the gaps that many ERM systems don’t provide. The client data is hosted in local data centres or on virtual servers.

It would have been interesting to know if the founders have thought about an end user application. For example an app that enabling freelances, contractors and consultants to keep their credentials up to date so that they can easily share this information from a single source prior to each hiring, contract or engagement. Equally, it would be great to know which other industry verticals Undivide might be targeting.

Passporr

According to the founders, students who want to study English abroad face high upfront costs, and an expensive and complicated procedure, with high interest rates and fees. Passporr aims to change this by offering interest free loans to study English and vocational courses abroad.

Using credit risk and fraud analysis, Passporr is able to charge a $300 flat fee per student, to process loans of between $1000 and $3000 (the average loan size). It was suggested that Passporr takes part of the commission that student agencies receive from universities and colleges for signing up students to their courses. With students expected to repay the loan in 6 fortnightly repayments, the founders claim they generate a 10%-20% return in 3 months – but it wasn’t clear what actual interest rates they are using, or the cost and source of their funding.

Passporr stated that it is currently working with three student agencies (which act as a distribution channel? or as a lead source? Again this was not very clear), and is initially focusing on servicing students who are already on-shore in Australia.

After Australia, Passporr will expand to Canada, and the UK, for on/off-shore students.

On the night, the People’s choice was Undivide (which got my personal vote), while HealTab took out the judges’ prize.

Next week: Fitting your own oxygen mask first

School Reunion

Last weekend, I attended the first official reunion lunch in Melbourne for former pupils of my old high school. On first glance, that might not seem a very remarkable event. Except that my school was in London, I left in 1979, and my fellow lunch guests left as long ago as 1959. I had never met any of them before. Yet in different circumstances, and at different times, each of us has ended up living in Australia.

Normally I’m not one to play the “old school tie” card – I don’t particularly care, and I am not really interested in, which school someone attended. In fact, having spent my high school years overseas means that here in Australia, no one can really play that card against me without seeming elitist, snobbish, or just plain foolish. Because, despite its claims to being an egalitarian country, some sections of Australian society place a great deal of importance on their private school connections. (Remember OneTel and the Cranbrook alumni?)

One of our lunchtime topics of discussion (which also touched on current geo-political affairs, the state of the entertainment industry, the economy, and the future of the planet….) was the extent to which our secondary education had formed our world outlook. The main conclusion was that although the school placed a considerable emphasis on academic standards and achievements, it was not merely a sausage factory (at least, not during our days there). The goal was to produce well-rounded, confident and curious individuals, who were encouraged to make the most of their abilities. (If the list of alumni is anything to go by, the school has certainly turned out some highly individual characters.)

I’m still in contact with a number of my contemporaries, and I try to meet up with a few of them each time I’m in London. After all these years, it’s hard to know whether our alma mater is the primary factor that still connects us, as our friendships have both endured and changed over that time. Certainly, most of us wouldn’t otherwise have met – but even before we left school, we had established common interests (especially in music) that continue to this day.

In conclusion, I would say I’m very grateful for the high school education I received, for the opportunities it gave me, and the friends I have made. And on the basis of the first reunion event that has ever been held outside the UK (as far as we are aware), it looks like my school will continue connecting me to new and interesting people.

Next week: Climate Change and Personal Choices

 

 

 

Startup Vic’s Secret Pitch Night

For its August meetup event, Startup Vic presented The Secret Pitch. Designed to highlight inequality in investment decisions, it combined voice-modulation software, and was a bit like The Voice meets Blind Date. Hosted at the Victorian Innovation Hub with support from Rampersand, LaunchVic, Stone & Chalk and Weploy, the Judges were selected from Rampersand, Light Warrior Ventures, AWS, Impact Investment Group and Venture Capital Exchange. By sitting with their backs to the presenters, and having to rely on only the slides and the disguised voices, the Judges had a limited idea of the identity of the presenters.

The pitches in order they presented (websites embedded on the titles):

FRDM

Described as “your closet in the cloud”, and dedicated to “making fast fashion sustainable”, FRDM is subscription-based service for “shared” clothing – customers borrow and return each item after use. Apparently, we are  buying more clothing but using it less.  The circular model is set up to break down and recycle garments over a three year lifecycle. it’s an emerging, but competitive space – competitors include Glam Corner, Le Tote, and Unlimited. Asked about their approach to circulation and cleaning, the founders assume three “wears”  with a 30% margin per customer but admit that they are still lacking some logistics experience. The goal of having items delivered on time, in the right place and in an acceptable condition is still being developed. Firmly aimed at women aged  22-28 years old, I suggest FRDM think about a their name, as my search revealed at least two similar URLs – https://frdm.co and http://frdm.io.

Assignment Hero

I have covered this startup before. It’s positioned as a collaboration platform for tertiary students. When it comes to team project work, there appears to be a disconnect between prescribed apps (Dropbox, Facebook Groups, Evernote, Google Docs, etc.) and the activity notifications and alerts they generate – in short, too much “noise” which overwhelms the students, which gets in the way of them completing their tasks.

Offering a dashboard, the platform is natively integrated with Google Docs. Users can track individual contributions to each document (based on time spent, and using track changes). To me that system is very easy to game – what’s to stop users simply editing for the sake of boosting their rating? How does it deal with plagiarism and copyright abuse? How does the app evaluate the quality, depth or rigour of contributions? Who owns the content that is uploaded to the platform?

Claiming to be signing up 42 new users every day, with repeat users, the founders offer a B2C model – providing access to suggested solutions via on-demand student services and products, and charging a 30% commission on each sale. Student sign-up is free, but the platform can recommends products to users. There is also an SaaS offering for universities, established via paid trials. But the B2B model is a long sales cycle, with the goal being annual licensing fees. Asked how about the viability of the Google relationship, the founders explained they tried using their own document editor, but customer  preference is for Google (and Microsoft) products.

Asked about how Assignment Hero compares to other collaboration tools such as Atlassian’s JIRA, Trello, Confluence, Slack, etc. the founders suggested that these are aimed more at enterprises, and that their own UX/UI is sexier than existing education tools such as Blackboard. As with all such platforms, the key is to enable users to manage the project, not manage the project management software….

Book An Artist

This two-sided market place is designed to help clients to find or connect with an artist. According to the founders, finding the right one is hard. Instagram’s search function is not location based, and the platform is dominated by big names.

With 80 artists on board, Book An Artist charges a 10% commission, and has completed around 40 transactions with an average ticket size of $2,200. Traction has been achieved via referrals, influence programs, SEO and Google Ads. Initially focused on commissions for murals and graffiti works, the founders plan to expand into sign writing, textiles, illustrations, mosaics, installations and calligraphy. With a presence in the UK, Australia and New Zealand, the founders are seeking $500k in funding. Currently using external agencies and contractors to handle administration, the funding will largely be allocated to marketing to drive engagement.

Although the commissions appear to be at a higher price point compared to other creative market places, what prevents platforms such as  Fivr,  99Designs or Canva moving into this space? Also, how does Find An Artist handle things like copyright, IP licensing, attribution or planning permission for external works?

Aggie Global

This is a food sourcing platform, connecting small farmers to large markets. Because of current market structures and procurement processes, businesses often can’t “see” what produce is available to them locally. Based on the founders’ experience in Fiji, where the local economy ends up having to import food to feed tourists, they have run an actual in-market pilot program, but are still building the e-commerce platform.

The results of the pilot achieved a 6x increase in both farmers’ income and hotel cost savings. Tourism is the 1st or 2nd largest industry in 20/48 developing countries. Importing food to satisfy tourist demand is therefore an issue.

For farmers, the service offers a freemium model, while businesses pay a 5% transaction fee and an annual subscription. Currently researching other markets, managing the supply chAIn for quality control, provenance, organic certification etc. is critical. The MVP aims to get farmers keeping proper records via face to face training, and gaining recognition for existing farming practices.

Asked about the cost of data connectivity and access for farmers in remote locations, the founders explained that data is stored offline and uploaded periodically. They are also investigating the use of AI/ML for predictive supply and demand. They also need to manage timely delivery as well as tracking environmental and climate data.

Part of the solution lies in making sure there is appropriate produce for the market, while matching local cuisine to tourist expectations. Too often, local chefs try to emulate western menus, so they need to help develop alternatives and foster innovation.

Maybe the Startup Vic organisers were saving the best til last, as Aggie Global took out the People’s Choice and was declared the Overall Winner by the judges.

Next week: Recent Notes from Europe