What every entrepreneur must know to scale up and be commercially viable in the digital age.
Nadia El Hadery is a former banker and avid foodie. She’s now the co-founder and CEO of www.yfood.com, an interactive platform passionate about driving innovation in the food industry using technology.
At Girls in Tech Malaysia’s 4th Women Founders Night, Nadia shared these tips on growing a profitable business in the digital age.
1. Use technology to scale up your business
Combine what you’ve learnt on the ground with technology, as it can help you grow in scale while minimising costly mistakes.
But don’t build up too quickly, especially without a solid foundation. You must validate your market,. Do your research and market testing, as you’re going to run into cost problems otherwise.
2. Structure a coherent pitch
When pitching to potential investors, start by highlighting problems and how your concept or idea is a solution. Or show how their support can help you develop a solution.
3. Prove that your concept is commercially viable
The reality is that large, profitable companies aren’t going to do something just because it’s good for the world.
So to collaborate with them and grow your business, you have to show them that your idea is commercial and interesting. This is where technology can help you prove, with accurate numbers, that your idea changes their bottom line.
Girls in Tech Malaysia is part of a global social enterprise championing women in tech and entrepreneurship. Visit malaysia.girlsintech.org to become part of the network.