SALT Voices: Chieh Huang (CEO, Boxed) & Daniel Teran (Founder, Managed by Q)

TL;DR

Founders discuss their journey of building scalable enterprises and solving pain points in the market.

Transcript

this is attached to DeSoto reporting for Salt voices and I'm here at Salt abu-dhabi a day to with Cheng the founder of clocks and Daniel Turan the managing director of managed by Q welcome to both of you thanks for having us thank you for being with me today and you have a panel today I believe we're you know I think we looked at the journey of ent... Read More

Key Insights

• 😥 Personal experiences and pain points can inspire entrepreneurs to launch businesses.
• 🙃 Building a strong team and having a resilient mindset are crucial during the ups and downs of entrepreneurship.
• 🚀 Securing funding and launching a product can take time, but success is possible with perseverance.
• 🥺 Identifying pain points in the market and creating solutions can lead to scalable enterprises.
• 🤩 Focusing on innovation and energy where it matters most in the business is key to efficient growth.
• 🏛️ Building a positive corporate culture and employee experience can contribute to a company's success.
• 🧑‍💼 Leveraging technology and software tools can streamline office operations and improve efficiency.

Questions & Answers

Q: What inspired the founder of Clocks to launch their business?

The founder grew up experiencing the pain point of shopping at warehouse clubs and wanted to create a solution for a more convenient online shopping experience.

Q: How long did it take for the founders to secure funding and launch their first product?

It took about 90 days to secure seed funding and a total of six months to launch their first package out of the garage.

Q: How did the founder of Manage by Q identify the pain point of back-office operations?

Working in New York startups, the founder noticed that many founders and executives were spending more time managing the office than managing the business, leading to the idea of creating an operating system to simplify office management.

Q: How did Manage by Q scale up their business?

Manage by Q focused on building software tools for workplace teams and creating a network of third-party service providers. This allowed workplace teams to easily access resources and services needed for office operations.

Summary & Key Takeaways

• Both founders share their personal experiences and the pain points that inspired them to launch their businesses.

• They discuss the timeline of building their companies, including securing funding and launching their first products.

• The founders emphasize the importance of building a resilient mindset and surrounding oneself with the right team during the early stages of entrepreneurship.