Initial Startups: Behind the Scenes #1 – Crowdonomic

Lots of time we’ve heard about Singapore being a good place to do business with all sorts of support coming from different sources, private or the government. Early-stage Startups could still face difficulty in having investors looking at them. Here is where Crowdonomic comes in! Crowdonomic, a crowdfunding platform connecting Asia-based startups with global supporters!

 

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Let’s now look at the ‘behind the scenes!’

Interview Dialogue with Crowdonomic Founder, Mr Reona Shimada and Pioneer Employee, Mr Eric Tay (HR & Finanace Manager). 

 

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Interview with Founder – Mr Reona Shimada

1) What went through your initial thought process on forming your initial core team? How did you go about attracting your core team member? If there were challenges faced, please elaborate.

My recruitment principles were, and are still true today, to hire A-list people who believe in the mission of Crowdonomic and have the courage to stand up to be the true leaders they have the potential to be. I’ve always worked in top 5% organizations through my career and believe in the concept of ‘Strategy as organization’ – which means that as long as you have top talent both in calibre and spirit, these people will organically shape the best strategy and course of the organization to bring it to success.

For attracting my core team, i’ve made it a point NOT to make compensation a core value proposition… this needs to be a secondary motivation lever. The primary attraction of the opportunity is to join a social movement which is completely redefining the way creativity and innovation is financed, how economies are developed, and how individually we can come together as a group to take control of our own destiny.

Challenges of recruiting are aplenty. While I need people with true leadership potential, I also need people who are street smart and have the toughness to get thru the ruthless world of a Start-up. I think the worst cases have been people who just want to be smart consultants without getting their hands dirty and jump ship when the rubber hits the road, and people who just show up to interviews with no clue what the business is about. I need a hybrid between an Idealist and a Bar Brawler.

2) What were your initial plans for these pioneer employees when they first joined you? How does the execution differ from your initial plans, and in what ways?

My initial plans for the pioneers are simple – give them clear guidance but also give them the room and freedom to succeed. This is mostly achieved through a partnership mindset and making sure they get appropriate mentorship and feedback.  I think the execution differs in the sense that I find myself learning more and more from my team (and enjoying it!) and also differences in the team priorities and structure due to the pivots we agree on in our bi-weekly team huddles.

3) What will you advise to budding founders if they are looking to form/hire their initial core team? 

Entrepreneurship is war. Think about the kind of team members you want to see in the trenches around you before leading the next charge….Good luck!

And next, we move on to the side of the story with one of the Pioneer Employees – Mr Eric Tay.

1) You are once a corporate guy, what makes you join a Startup in full-time employment?

In a corporate environment, I had always been handed existing finance and operation procedure to follow. While these procedures may make sense during the time of inception, but with improvement in technologies, changing working style and progress in best practices, some of these procedures had become obsolete. Because corporate policy and procedure are set by a head office and any changes/improvement to it usually faces numerous challenges. I had enjoyed working on improvement operating procedure under these challenges. After some time, two things I realised, one is that the procedure set are not generally factored for scalability. The other, procedure set are also not subjected to periodical review.

So, I know that by joining a Startup environment, it will gives me a chance to firstly, have a feel of developing finance operating procedure from the scratch. On top of that, I am given the chance to address the two issues I faced during my time as a corporate person. I remembered the before I stepped into office for my first day, I had looked forward in great anticipation to the challenges.

2) Being one of the pioneer team members, what are the kind of initial challenges faced?

My role had always being mainly accounting and financial as a secondary support in a corporate environment. However, as one of the pioneer team members, my focus is shifted significantly into the financial planning.

Another main challenge I feel is gathering up the rest of the core team members. In the course of doing so, I found that there are really a lot of people out there with great talent and experience. However, to find a good mix of visionary and “roll up sleeve do-ers”, and chemistry with the rest of the team, had been quite a journey for me.

3) Has your role differ from when you first join? If yes, please elaborate.

I don’t see much changes in my role since I first join. I am still very focus on finance management, I am still working closely with Business Development and Product Development on MVP. I am still continuing to look for top talents to path the way for business expansion.

4) Challenges are inevitable in a startup environment. Prior to joining Crowdonomic, are you ready for these challenges? Or did you know what you might have to face?

I thought I knew what I am going to face. And I think that I am ready for any challenges. That said, I still got a cultural shock when I joined. I took a while adjusting myself to the pace of Startups and the mind-set of a Startups pioneer.  But I like to think that so far all had turns out great.

 

With that, we round up our  2nd interview! If you want to know more about Crowdonomic, click on this link -> More About Crowdonomic

 

 

Full Series of Initial Startups: Behind the Scenes #1:

CarbonStory / Crowdonomic / FlagAHero / DropMyEmailFlocations / Rewardz / Save22 / Mentorica / LoanStreet / Pinoy Auto Traders / Tripconomics / Collectibly

 

Read more Startup Tips here!

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Article contributed by Startup Jobs Asia‘s Team.

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