Jeffrey Ng Growth Consultancy JEFFREY NG www.jeffreyng.net
Q Welcome back to Game Changers Jeffrey! The readers might not be aware; you were one of the key people who helped us tremendously with the Game Changers brand at the beginning. You have your own brand now, Jeffrey Ng Growth consultancy, what tips would you give to start ups?
In our FX Industry, Indonesia have for awhile quietly witnessed how foreign brokers like Instaforex, etoro and XM, cleverly exploit the Whitespaces. Foreign Brokers entered Indonesia to create cross border disruption and penetrated deeply and grow prosperously.
Thank you for the kind words Paul. I appreciate the opportunity to return to Game Changers. The traction that Game Changers have today is due entirely to your passion and perseverance Game Changers is a must read for many of us in the industry as it filled with actionable insights. Thumbs Up to you , Paul.
Indonesian FX Brokers learnt the hard way and reacted only when volumes and margins thinned out, and realized the need to self disrupt and filled the Whitespaces. FX brokers in Indonesia, then setup On-line Marketing either as a new Start up or create a new Division to exploit Whitespaces that Foreign Brokers do not occupy. This somewhat pushed back the incursion and local brokers started growing their businesses again.
On Startups, founders needs to spend time finding and exploiting Whitespaces. Whitespace analysis provides windows of opportunities for disruption and growth. Startups must rapidly exploit these Whitespaces to grow or competitors will snap these up. Operationally, some key metrics founders need to hone in on, include, the Cost of Acquisition (CAC), Customers Retention Rate(CRR), Customer Life Time Revenue (CLR) , Average Revenue Per Customer(ARPC). The Northstar metric for Startups is the rate of customer acquisition. This single metric indicate the Startups’ muscle.
Jeffrey Ng Growth Consultancy
I am pleased to have led and digitally transformed Monex Investindo, into Indonesia’s largest and one of the most profitable Broker. We innovated and is the first to provide mobile apps to our millennials clients to manage their trading. It very exciting and rewarding to work with Startups and we offer advice to Unicorns as well as to newly minted Startups. Jeffrey Ng Growth Consultancy focused exclusively on Forex and Retail Industry which are our core expertise. We facilitate growth without the growing
