Culture

Ask An Entrepreneur: What are your hopes and goals for 2022?

25.01.2022

By Natalie Khoo

Ask An Entrepreneur: What are your hopes and goals for 2022?

Do you often find yourself wondering what it’s like to be in the shoes of someone from a different career background? Perhaps to check if the grass is greener on the other side. Or maybe you’d like to keep an open mind and see things from a different perspective. Just curious? Whatever the case, welcome to the party.

In this new Ask A/An ___ series, we pick the brains of individuals from varying backgrounds, professions, and job scopes for an insider’s take on what *really* goes on in their line of work (and in their minds), and any advice (or warnings) they may have for those looking to dip their toes into the same. To kick the series off for 2022, we spoke to three entrepreneurs from vastly different backgrounds—namely F&B, beauty, and fintech—on the lessons they have learnt in 2021 and what they’re looking forward to in 2022.

Shaun Liew, co-founder of Curate Coffee Roasters and Ono

What’s an important business lesson you’ve learnt in 2021?

Having been in the food and beverage industry, there are several lessons which I have learnt throughout 2021, including having to continue to adapt to challenging times, especially when it comes to developing and innovating food and beverage offerings. [I’ve also learnt to] stay optimistic and channel more positivity to my fellow colleagues who have been working with me throughout the pandemic. I am a strong believer in teamwork and this is what helped my businesses to propel in 2021.

As an entrepreneur, what are your hopes and goals for 2022?

My hopes and goals for 2022 are to strengthen my current business identity and also to ensure that our company is able to grow in the coming year with healthy financials. Additionally, my goal is also to build a strong core team for my businesses so that we will be able to grow and expand for the future.

How has 2021 shaped your business game plan for 2022?

Managing financials a little bit more in detail, but at the same time knowing which areas are worth investing in. For example, proper customised takeaway packaging, which can also contribute to branding and marketing. 2021 has also taught me to prioritise my team’s mental and physical health. To some, this may not be important but to me, personally, it is very important to pay attention to my team’s well-being as they have worked alongside me throughout these challenging times. As an entrepreneur, my team is everything to me as they are the ones who also contribute to my business’ success.

What advice do you have for budding entrepreneurs looking to start out in the F&B industry this year?

My advice to aspiring F&B entrepreneurs is to research more about what products are out there in the industry and what makes your product unique to everyone else. Having several product USPs will set you apart from your competitors. Pay attention to product and service quality. These days, there are many aesthetic cafes or restaurants but the product offerings and service may not match up in terms of quality. Also, ask for help if you need advice. There are several F&B groups out there who are always ready to give advice if you ever need guidance. Don’t be shy!

Follow Shaun (@shaunie.l), Curate Coffee Roasters (@curatecoffeeroasters) and Ono (@story.of.ono) on Instagram for more updates.

Evelyn Marieta, founder of Wunderbath

What’s an important business lesson you’ve learnt in 2021?

Wunderbath as a brand/company has gone through a great deal of pivots and changes since the pandemic started, with last year being the most with our main store closure and office/team relocation. Yet, it was also one of our most successful years of business. So professionally, I’ve learnt to keep an open mind for new possibilities and opportunities for Wunderbath and that we don’t need perfect situations to create amazing outcomes.

As an entrepreneur, what are your hopes and goals for 2022?

I hope this year we can achieve some sort of certainty (with the pandemic situation). But if that doesn’t happen, I hope that my team and I continue to thrive in chaotic situations.

How has 2021 shaped your business game plan for 2022?

Our sales strategy changed completely in 2021 as customers have changed their preferences since the pandemic. They don’t just want good products but they want good products fast! Our strategy this year involves capitalising on our successes in 2021 while leaving plenty of room to navigate through uncertainties.

What advice do you have for budding entrepreneurs looking to start out in the beauty industry this year?

I’d advice budding beauty entrepreneurs to be fearless and take our current economic/buying trends to their benefit. However, rather than launching a brand or product line specific to the pandemic, have a properly thought out, robust business plan instead. It’s tempting to do the former but the latter will definitely be better [in the long run].

Follow Evelyn (@evelynmarietta) or Wunderbath (@wunderbath.co) on Instagram for more updates.

Zac Liew, co-founder of Curlec

What’s an important business lesson you’ve learnt in 2021?

Empathy. It’s been a tough couple of years for everyone. The majority of businesses have suffered whilst it has been difficult for our team members to be completely locked down at points. It’s important to be empathetic to everyone’s situation as it hasn’t been easy.

As a fintech entrepreneur, what are your hopes and goals for 2022?

More businesses moving online, increased adoption across both merchants and consumers, and more favourable regulations.

How has 2021 shaped your business game plan for 2022?

2021 has reinforced our game plan for 2022 and beyond. Whilst at our core, we started off as a payments company, our thesis from day one has been that in order to succeed in this industry, you need to wrap services around payments. We’ve seen great traction with our new software products we’ve rolled out in 2021 and will continue to focus on this in the years ahead.

What advice do you have for budding entrepreneurs looking to start out in the fintech industry this year?

Build for what lies ahead rather than what you see in the present. There are a ton of opportunities coming into the fintech industry in the coming years with better infrastructure, new regulations, digital banking etc. and I would focus on building for those opportunities.

Follow Zac (@zac.liew) or Curlec (@curlec.pay) on Instagram for more updates. 

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