What have I learned as a fintech entrepreneur?
1) Customer-centricity is a secret ingredient of any Fintech that is profitable.
2) SMEs & MSMEs are no less than credit-starved individuals. If you want to thrive as a fintech startup, cater to their basic needs first.
3) Stay connected via multiple channels. You never know where your diamond is hiding.
4) Don’t try to cater to everybody. Fintech is vast, and so are customers and their needs. Find your niche and address the targeted group. When things fall in place, consider the expansion to other products/services.
5) What’s bothering them should bother you too! Keep an open eye and ear to that. A flexible response to customer concerns can save the entire business.
6) Be open to inclusion with new technologies and changing trends. Having said that, brace yourself with Plan Bs.
7) Customers and their data are a treasure. Guard it all while transparently lending them control over it.
That’s my journey from start-up to scale-up.