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4 Years In, BuildEasy Has Proven That Growth Is Possible, With Or Without Extra Fundraising

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Grown from the concept of a scholar entrepreneur, house enchancment startup BuildEasy was formally launched in November 2015.

That scholar was Tan
Yong Meng, founder and CEO of the corporate. In a current catch up session with
him, he revealed that 2019 was by far probably the most eye opening yr for BuildEasy.

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Amongst one of many largest adjustments they made to the enterprise got here with the start of PropEasy, their property possession arm, which was merely a pure vertical integration of their present choices, he added.

“Along with BuildEasy,
we want to remodel property possession by way of our 360-degree strategy and O2O
mannequin, bringing transparency and curated decisions to property patrons who want to
put money into SouthEast Asia.”

Which means they
needed to make a delicate change to their strategy and open up 2 totally different groups:
one for his or her regular B2C strategy which focuses closely on the residential
section, and the opposite to work on PropEasy.

Branching Out To Progress

Along with his expertise
to date within the house renovation scene, Yong Meng was in a position to share some observations.

“We’ve come to see the
pattern that customers will choose a service supplier that may present a holistic
and built-in answer.”

“Remaining inside your
personal space of experience is not going to be sufficient on this present difficult and aggressive
panorama, therefore the explanation why we determined to develop our choices with
PropEasy,” he mentioned.

As they proceed to actively observe trade tendencies, he predicted that the idea of ‘wholesome & house residing’ shall be extra prioritised post-MCO.

Whereas cost-effective,
impactful inside design and handy options are most popular now, BuildEasy
is transferring past that to supply extra worth added and considerate options to
their shoppers.

These days, nevertheless,
there are such a lot of different house renovation options which are obtainable to
Malaysians on platforms like Suggest.my and Kaodim, for instance.

One can even simply e-book
these service suppliers primarily based on their portfolio preferences, so how then does
BuildEasy make itself stand out?

“There is no such thing as a one measurement suits
all, and I consider that the platform mannequin and built-in options suppliers
have their respective benefits and downsides,” he answered.

BuildEasy is subsequently much more concerned within the buyer journey from begin to end, which Yong Meng believes is essential in a startup’s longevity.

“If there’s one factor
that we’re seeing of the ‘new’ world these days, seeing extra unicorns and
startups begin to have large layoffs and losses, staying money circulate constructive
and never having a excessive burn price appear to be the key phrases in survival now.”

Preserving It Lean

However having not raised
any funding but, money circulate is, and can at all times stay, BuildEasy’s largest
problem.

“On account of that, we’ve
to at all times stay financially disciplined which signifies that many people must
put on 2 or three hats as a substitute of getting a devoted teammate for a selected
position/skillset,” Yong Meng mentioned.

“Now that we’ve
expanded to Vietnam, and hopefully Jakarta arising in a number of months, managing
a various group will result in language and cultural limitations.”

Submit-MCO, he foresees
the truth that each firm might want to re-strategise for the longer term as a consequence of
uncertainties as one among BuildEasy’s largest challenges as properly.

Nonetheless, they may
be transferring ahead with plans to additional combine BuildEasy and PropEasy to
serve each property builders and shoppers from pre-sales to post-sales.

Pre-MCO, their
prolonged gross sales group in 10 totally different nations was bringing in over 50 overseas
shoppers in Malaysia per thirty days.

The arrival of COVID-19,
nevertheless, has created some difficulties for BuildEasy. With the lack to do
a lot work these days as a result of nature of their work, BuildEasy determined to show
their consideration to one thing else for the meantime.

One of many issues they did was maintain a corporate-startup collaboration between myNEWS, BuildEasy and PropEasy.

Picture Credit score: BuildEasy

They distributed meals
and low to frontliners from myNEWS’ Maru line to medical groups and different
help groups like cleaners and the police power at College Malaya Hospital.

BuildEasy can be presently
in additional discussions with not solely myNEWS to hold out extra initiatives of
this kind, but in addition with numerous different companies.

“This MCO has taught us to worth life and respect these round us, even if we’re shedding cash, it’s been a refreshing ‘break’ from our on a regular basis hustle and bustle,” Yong Meng concluded.

  • You’ll be able to examine different Malaysian startups right here.

Featured Picture Credit score: BuildEasy

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