I think there is a high-profile nature that surrounds VC funding. I get it all the time. Every second headline that's about, you know which startup raise x million colors at what valuation. I don't blame any business owner, not just startups. I don't blame any business owner to think straight away that they think about the dilutive or all the equity based type of funding options because those are the high profile story. Ruiz and I would say a lot of people attribute those stories to success but also coming from that world on the other side of the table. I also know the baggage that comes with that type of funding think about the business model first and the business model suitability to the different type of funding options because actually a lot of the equity-based or the VC funding, type of model, is very suitable from the 0 to 1. Period. Where there's a lot of R&D, and they won, it's not Revenue. Earning a lot of businesses. Start day, one as a revenue generating business, right? So if you're an e-commerce or your direct-to-consumer, those type of business models can leverage a lot more different funding sources than facings.
Welcome back to the purpose, affect the podcast about purpose-driven businesses, and what we can learn about solving some of the world's biggest problems from the Woman, who are solving them, I am Elena Kersey, and I am on a mission to learn how we can, build better work, stronger communities, a healthier Planet. If you believe there's a better world out there waiting for us, then this podcast is for you. When I speak to women business owners, the most common struggle that they tell me about is how to access enough money to grow their businesses. And even some of the women on this podcast to have built amazing, businesses with great products, struggle to access the funding, they need to scale and to make their businesses financially sustainable. We can only do good, and we can only create impact if we have the money to do that. And the fact of the matter is that 82 percent of small businesses fail, because of lack of capital. There's a lot of noise and big bold headlines when it comes to businesses who have raised VC funding and this paints a really lopsided picture of what success in business looks like and accessing grants loans or other funding options is time-consuming and often wrapped up in a lot of red tape. So today's guest Jenny or is trying to solve this problem with fund fluent fun, fluent is a business that she co-founded in 2022. To that brings grants loans, and other financing options together, Under One Roof fund fluent. Also, connects the funding options that your business is eligible for to your own data sources so that you can easily find and apply for Grants or loans through the system and fun fluent. Also, helps you build your funding strategy. So, if you don't even know where to begin, fun fluent has a solution for you to, in our chat. Jenny says that the goal of fun fluent is to be your friendliest fun. Crew, which I loved. So if you need, help getting the capital to take your business, to the next level, fun fluent, is there to help you land the plane. Jenny was lucky in that she found out what she was good at. And what she really loved doing really early on in her career she started her first business when she was at University and has been building businesses or helping businesses grow ever since. So let us get into our chat with Jenny ol, serial business Builder and co-founder of UND fluent, but before we do, I am going to pour myself a hug in a mug with a cup of tea bird tea. I love tea Bertie and not just because the packaging is absolutely beautiful. Although it is or because the t is organic and comes in biodegradable, tea bags, although, it does. But because I love the way T, bertie's founder Ashley cultural uses her business to support other businesses doing, good. Ashley partners with Brands and not.
Profit, doing good for people and.
Planet because she believes that this is how you build sustainable businesses and I couldn't agree more. So if you want delicious healthy beautifully, packaged T that makes impact you can get 20% off using the code hug and a mug 20, I would recommend the earl grey and orange, it's my favorite.
Yeah, I never really followed a traditional career path. If there is an is even a traditional career path, but I do remember, Were at Uni, when a lot of people were exploring the graduate programs and I went to an uniweb definitely. There was like, you know, a lot of recruitment days when a lot of my peers would go through and explore these programs but I came out of some of those interactions knowing, that's not what I want. I wanted to drop out of uni to start a business and at that point it was around education and particular G applied in education, which was way before. Edtech was even a fundable topic and yeah, I started building businesses with my sister. And then I went and did like my own thing for wedding event planning and all these things made me realize that I find myself in the best form of myself building things, and actually getting my hands dirty, and that translated to big part of my career was with BCG digital Ventures and that's building startups with large corporations across the world definitely love building businesses. Whether that is a small business, like a tutoring center for high schoolers trying to get into University right through to like an event planning company right through to digital Technology, based startups. With some of the world's largest companies, I got really addicted to building businesses and eventually that became my thing building digital businesses, the kinds of businesses that were going to those universities.
Career days were really traditional businesses and, you know, I studied law. So there it was a very defined career path. And I remember thinking myself, like I am not sure if this is for me, but I have spent all of my time studying this. I don't really know what else to do. Yep. So I admire that you had the confidence to just try to do something different. So, early on the other thing that I think that I have noticed when I have spoken to all kinds of Founders is that your confidence and buildings, things grows and develops the more times you do it. So what was the seed of the idea behind your first business was that Pinnacle coaching.
We were part of that ecosystem, around and very, very competitive nature to getting into University. And that's across the board, I would assume, but I would say in the Asian Community, I think the, I would say the pressure, That is then applied to the academic side of what they define. Success. Look like is huge and my sister and I always felt that the way a lot of Asian parents all the way, a lot of parents, think about the success of their child is over indexing on certain things, which we feel like a, as an individual, there're different types of growth, right? There're different things that you can be good at, we had people who had great talents Beyond academic Me and my sister. And I felt that we being part of the system as well as going to cheer during school. After hours, on the weekends, we felt like a lot of them, kind of squashes out the beauty, or the fun in education. And where the top of people where when we want change, we want to be part of the change. Let us try to build something and it came with like a physical presence, right? Like we just built a physical training school, started taking instruments, which I would say compared to some of the other offerings out there, we were more caring about you know what they wanted out from their Learning Journey, and we ended up attracting a lot of people which I would say. I had a lot of interest that set outside of the academic side but you know, might be Sports in Australia. Sports is a huge thing. We dealt with a lot of like people who are going into like sports scholarships but academically, they also needed some help, and we sort of Built This Nation, we realized that we had the ability. Leti to build businesses and then be its sort of like there was at that point there's the opportunity cost is not that high because you think like okay what's the worst that can happen? I get a job. I get a full-time job at. So I am somewhere else and so that the way I see at that point in time it's sort of like you're so set to be bold and courageous because I guess the Baseline is actually like well just doing uni at that stage and there's no fear in just I am and that's a mindset which I have tried to carry going through many different career experiences. Very initial mindset of not fearing to fail and I think that's something which is gets harder and harder with experience and time that baggage that burden of knowledge sometimes prevents you from, you know, being as old or as courageous. As you could be.
The risks, also increased the older You get right? And the more career experiences you have behind you, the opportunity cost becomes higher.
That's a really interesting Insight. So let us talk about fun fluent now and where the seeds for that came from and what you learned, maybe from these two previous experiences that you brought through to your work with fun fluent.
Building my own businesses, I understand firsthand. The type of problems, a small business owner has and also funding been a huge part of that. How do you fund the growth of your business? I think that's a, that's a problem statement that I embodied and very early stage in my career, I then went to a company called Boston Consulting Group digital benches, and they are sort of the stench of building of a large consulting firm and In that world, we worked with some of the world's largest companies, and they have resources and money to be able to fund Innovative Concepts that leverage technology. And I realize in that role, I realized the big role that technology can play in driving assess to financial services. Whether that is on a smaller incremental scale right through to fundamentally changing what Financial Services could look like. And also through those Journeys. I also understand the different type of baggage that comes with the money in which is used to fund that business. And the reason why we start from blowing is that we fundamentally believe, technology has a huge role to play to be able to help small businesses to tell the full story through data and that should really help them to access funding options which match their intent. And I would say in that world you're making something that's quite complex. A bit more simple, but our dream and our big vision is to fundamentally make a reimagine what small business funding looks like. So for us, technology is the piece which will allow for the whole ecosystem to redefine that.
I love the vision but I just want to dig a little bit deeper into the disconnect. The actual Gap that exists.
What is it that small businesses?
Need that the traditional institutions aren't able to serve or can't see or what exactly is the pain Point.
Yeah sure. I think when we talk about the funding Gap and I look statistically, it's huge. So I think globally the small business funding Gap is u.s. Five point two trillion dollars. So that Gap is in terms of the type of money or funding that a Small business needs, and they're not able to assess but I would say the softer side of that problem or the softer side of that Gap is actually as a small business owner and myself included, being a start-up an early stage startup. We wake up thinking about all my God I have this amazing idea initiative project which I believe should exist in this world which doesn't exist today. How do I make that happen? Now? You say I have just Describe the whole problem statement without mentioning the word funding people, don't wake up thinking. I need to access funding today is like oh you know I didn't borrow money today to make this happens they wake up being filled and motivated by a dream. A vision something that they truly believe should exist. That doesn't exist today. And the reason why I am sharing this is that I think it's very fundamental flip on how the financial ecosystem looks at this problem. Yes, there is a dollar amount. Mount attached to the funding Gap but actually the access to it or the inclusiveness of it actually stems around how a small business owner thinks about the actual underlying. Why behind funding? And so what, how that, how I guess how that problem ends up servicing is from a small business perspective? They don't always understand the exact eligibility requirements or Commence or the exact data or information, that's required to access the funding that they need. And also they don't know the exact funding that they need because they are so entered off the impact that they're trying to drive. So there's a two layer level problem of, you know, the understanding what they actually need and what the funding intent is and then on the funding side I would say it takes a lot of effort energy and sometimes resources a human sources to be able to understand the full story or the full intent. What are they trying to do with that money? And so what happens is for them or financial institution or traditional financial institution, is that they need to go through a layer of cleansing and validating and structuring all that data before any decisions are made against this underserved cohort. And by the time they do this, sometimes the return on investment. So the ROI on these efforts Will not make sense. And hence the segment is really hard to justify from a numbers perspective. So what we're trying to do is or the huge hypothesis that we have, is that when you leverage technology to take away the onus of ingesting structuring validating cleaning that data, taking that away from the ecosystem and allowing technology to do that much more, effectively and efficiently. It allows everyone in the ecosystem to basically have a positive Roi in serving this segment and hopefully that also means in better development of more inclusive and more accessible Financial products for small businesses.
So essentially taking the data that this business has and presenting it in a way and structuring in a way that financial institutions are going to be able to better analyze whether or not this investment makes sense, because a lot of businesses, small businesses have started Because there's a problem they're addressing, and they probably haven't looked at their business in the same way a financial institution would. So does that mean that you are you're a tech product as well? You're actually developing the technology to be able to sort and better present this data.
Yes, correct. So actually, that's the, that's the heart of what we do. Although we also, I would say wrap it in an experience layer, so that we allow small businesses Nurses to use some of these tools to understand their story better. But at the core of what we do we call it embedded Finance. So basically what we do is provide the technology or the underlying infrastructure to allow the ecosystem to provide funding services or to create better Financial products for the small business segment. We have basically API LED solutions that allow consented business data to be passed through to whichever Funding option that the small business is trying to apply to or from a financial institution perspective, or a lender, or a fintech someone that's trying to provide a service or product to small businesses. They can also access our data products to be able to more effectively and more digitally run their end-to-end decision in process. And I guess, the reason why we are so heavily Focus or the business is quite focused around that the technology side is because we believe that anyone that's looking to fund the small business segment, there is a lot of Merit in helping them to get their products to Market faster and have that inbuilt flexibility or for them to Tinker the different parameters of their products to be able to better match, and better soup, small businesses. And I think for us the bigger Direction I would say is definitely in that world because we.
Sight, I believe in learning every single interaction and engagement with small businesses. The solving, the inclusion and accessibility problem has to be stemmed around. How do you help the ecosystem to do better on it?
So I want to go into some of the things that small businesses should be aware of when they're putting together their funding strategy because I was surprised to see that you have. I think it's over 75 million u.s. Dollars worth of Grants listed on. Confluent I was daggered that is the size of the opportunity of grant funding. And I guess this is, this is a bias, but this is a bias that I think a lot of small businesses have grants are small fry. They're usually for impact businesses there for local businesses that they offer certain types of businesses. So the fact that this is the amount of grants that you have listed on fun fluent, I thought was interesting, but what should small businesses be aware of when they're putting together their funding strategy? Because a lot of businesses are looking to go straight to VC or Angel investment. Yeah.
And I don't blame them because I think there is a high-profile nature that surrounds VC funding. I get it all the time. I mean, I am right in the middle of that text, thought up all the news that we consume or at least I know I always have to keep a really strong. Ion is all that VC funding flow or every second headline that's about you know which startup raise x million colors at what valuation. I don't blame any business owner, not just startups. I don't blame any business owner to think that, you know, straight away that they think about the dilutive or all the equity based type of funding options because those are the high-profile stories and I would say a lot of people attribute those stories to success but I also come from that world on the other Side of the table. I also know the baggage that comes with that type of funding and as a product. So I my career has been very heavily focused on product management. And as a person that cares, a lot about the product and the ability for the product to deliver value to the End customer. I see that, what that baggage looks like when it translates to okay? How much control and ownership you have on? The business itself to really deliver value to the End, customer as opposed to strategic value to the corporate investor, or strategic value to the investors that invest in your business. So I would say, going back to your question in terms of for small businesses. Like what are some of the things that, you know, they should be thinking about when they're thinking about the topic of funding? I would say, think about the business model first and the business model suitability The different type of funding options because actually a lot of the equity based or the VC funding type of model, is very suitable for products, which have a, I would say, especially from the 021 period where there's a lot of R&D, and they won, it's not Revenue earning and it really shouldn't be because there's a lot of effort that, you know, goes around and creating an Innovative product which is trying to penetrate part of the market. That's Probably not no Market hasn't seen before, and so they don't, you know, you don't even know whether you know, it would stick to the market, a lot of businesses start day, one as a revenue generating business, right? So if you're an e-commerce or your direct-to-consumer, you're selling a physical product or a service that people can somewhat feel and know that what the value that they're getting and that is a business model, which is very new generating data. One and I would say those type of business models can leverage a lot more different funding sources than feces, then Equity based funding and I would say yeah, the number one thing is to actually deeply understand your own business model and how value is exchanged between you and the customer or whatever layers in between you and the customer to really understand what you are trying to do or do better and how does funding help you do that. So, You know, some of the non you spoke about government grant. So there's so many government grants and programs that focus on supporting very specific topics. Whether that's technology R&D and small businesses growing into markets outside of the basically export markets, right? So basically, if you're a small business trying to grow outside of the market, they operate in is quite a lot of different government support. That is available as well as adopting technology. For small businesses to make their processes more efficient. And as soon as you generate Revenue, there's also non-dilutive options. Whether at such traditional, you know, bank loan through to some of the partners that we work with being text and alternative lenders are looking at Revenue based options to be able to so that. So that small business owners can leverage their revenue growth for even more Revenue growth. So that's there's a full gamut of options and I think you don't hear about them as much because they don't make the headlines, right? Like no one makes the headlines in terms of hey this company, leverage x, amount of, you know, government grants resources, they have generated x amount of Revenue and, you know, they have taken out a loan to be able to grow that 10x. Like that's not the sexy headline that you see, you know if you're in the world of building a durable business. That is growing at a sustainable rate that you are very comfortable with. There is nothing wrong with that and I think that's something that I have really been quite reflective on especially with you know the investment winter that's going on and a lot of the tech layoffs I realized that what I don't want as a leader of a tech company early-stage tech company, I don't ever want to be in a position where based on back hurting environment things that I can't control. Troll that I need to let go of all my staff and it's okay if you're not looking for growth as well, if you're doing a small business for Financial Freedom or, you know, trying to keep it at a, at a size which, you know, you have control over as well as you're not, you're not super aggressive about growing really quickly. That's okay, as well, I think we often over celebrate on the high growth side of small businesses or businesses in general, but we often forget . Things that are aligned with your values and what you're trying to achieve or the type of impact you're trying to achieve in the world. That's okay. As well.
I think, you know, it's an energy that I really connect with as well, and I am also more attracted to businesses that are creating impact businesses that are forever businesses, as you said and businesses who the leaders of those businesses could leave, but those businesses can continue. And the fact that you brought up the investment winter wear in the fact that money is much more expensive now. How do you think this is going to affect, not only the business that you're building, but the kinds of businesses that are going to be able to attract funding here on in what should business owners be thinking about if they're trying to build forever businesses or sustainable businesses, that provide them an element of freedom and an element of security. When previously, you know, the biggest companies that you could have worked for jobs that, you know, maybe five years ago, we thought would have been great secure jobs at some of the big tech companies. Yeah, I mean we're seeing that's not secure. I think if there's anything that people of Our Generation who I mean I started my career in 2009, right? Like right after the global financial crisis. If there's anything that people of Our Generation have learned that no job is secure.
And I think for me, the clarity that I have now is really understanding the different motivators for me as a person, which are non monetary, okay? And I think that's really important for anyone to understand as, in particular, a business owner and because the money sighs really important, don't get me wrong, that's, that's to do with the survival of the business, and your ability to weather the storms that come with running a Business, when it gets really tough in a world full of adversity, and full of negativity. You realize that the monetary component. If you tie your feelings and Vibes to that monetary component, you're going to lose juice very quickly. And for me from a values perspective, and how I think about, what motivates me is the ability to truly help small businesses As the world kind of puts especially for small businesses. Who again previously I said the return on investment on this segment is usually solo a lot of people if they look at that segment and the initial interaction with a small business as soon as they realize that the transactional value is not too high, they don't put in the effort to service that need. But what we have learned especially in the past year is just being able to help someone during a super tough time or During a time of uncertainty, and ambiguity, I get a really feel good kick out of that, just purely from being friendly approachable and helpful. And I think that doesn't exist in enough in the world because we often think about those interactions from a transactional lens first rather than a relationship building lens or, you know, where founder for Founders, or we're just entrepreneurs, or we're just small. Those owners and it's okay to help one another because we know how tough it is. And we know what it is like to build a business that's pre product and pre-revenue. And there's such a huge human element behind, all these, all these small businesses and impact businesses. We don't do enough to celebrate that or connect that so and I truly believe technology has a role to play in that. So that's the exciting bit in terms of where we're Heading towards.
Can I ask if you have noticed a shift when it comes to some of your partners, you're lending Partners or the partners providing grants? Has there been a shift due to sort of the macroeconomic situation in the kinds of businesses they want to fund? Yeah, I.
Think not just the macro but also I would say the type of businesses that are getting incorporated or getting created I would A thought has defined the way financial institutions, both traditional and new age fintechs, and alternative funders. They are trying to better understand the more innovative business models that are coming out because of technology. And because of, I guess the type of products that we consume, there are more and more different ways in which value is exchanged. And we like, we, we often talk about this internally as a team. So you have an e-commerce business and yes completely digital and more or less. They're still selling product but just in a digital way, quite easy to understand but still a traditional financial institution, might find it very, very hard to understand your business. If you were to show them an Amazon sales report, they probably don't know how to assess now on the other end of that is, let us say your content creator. Let us say, you're not selling a physical or tangible product or service instead. Selling influence, you are selling subscribership, you might be a content creator. That also has merged also has a subscription, a subscriber base for the content that you create. Now, these business models are coming out where the financial industry is still trying to wrap their head around it right through to these completely new ways, that digital platforms are monetizing completely intangible goods. And services. And we're talking about influences, they like, how where do you even start? And so, rather than anchoring off, like, I would say, the macro environment. I think it's also created a lot of opportunity and Imagination around the new type of businesses that are getting created. And I would say, a lot of the people that we're working with, especially being a tech company ourselves. We're working with a lot of people that actually want to understand what does the business of the future looks like. Like and how do I facilitate the growth of these businesses? I am super glass-half-full on this because I have a seat at table. When we talk about some of the way we think about financial products in that world. But I am also not blinded by the fact that it's going to take time. There's always going to be a time lag between something new that's been created.
So my ears perked up when you started talking about the business of the future. And so you have a seat at the this particular table and talking to the kinds of financial institutions that you're talking to beyond the traditional players. What do you think we're going to see more of in the future? What are the businesses of the future looking like how are their business models? Different?
Yeah, what I see is they are going to be more and more digitally native if not completely digitally native businesses. And the I would say the characteristic that this brings with that is their Global from the get-go. So I find that really exciting because I would say businesses or tangible businesses More or less have always started from a local entity perspective. Like, you're bound to a particular City and you're serving a segment, which is within that City. Now, what I see with a lot of new age businesses is that, they personally as the person that is founding the business or building the business, they're not bound to a specific location and the other angle that I see. Is that more and more, the product and service that Spelling can be more and more intangible? So we started talking about content creators, right? Yeah, yes. There's a part of them that they might be running which is a very tangible business, you know, emerge or a subscription content subscription, their business models, which kind of already exists. But what I am really excited to see is how the next wave of businesses, or the next wave of people who are creating businesses, they might be selling something that's completely intangible. Oh, and the monetization around. That is still up for question up for discussion, up for grabs. Like, it does different type of platforms, which are trying to monetize influence. Eyeballs subscribership dealership in very different ways, and I can only imagine the amount of opportunity that comes with funding, that flows effortlessly, not through just local economies but globally, and I think there's so much more opportunity to tap To with, with that type of mindset.
As you think about, you know, the path you have taken from setting up small businesses, setting up a brick and mortar educational provider, which then became a digital business to traditional management consulting and financial institutions to where you are. Now is there like a Common Thread that runs through that? What has been like a guiding purpose? As for you, as you have made those.
Steps. Yeah. Wow, guiding purpose. Hyenas are the tough one. I think for me and I think this guiding purpose. We have also adopted directly into our vision from flowing, I think the guiding purpose and I don't know where there's a purpose or not, but it's friendliness. And I think the reason why that has become a purpose, or I am using it as a way to apply. I had to everything that we go making all that complexity that surrounds the financial industry into something that could be much more friendly, I think, when I look back at all those different experiences, I am a person that I know, I will know that I bring a positive sense of energy. That's around every single topic that I touch around every single interaction or value Exchange. JH. I tried to make it a mission, make it my mission that those interactions are friendly interactions. Now, when you put that in the world of the financial industry, I think it creates a very, very Stark, juxtaposition like a very, very stark contrast to what your average person thinks of the industry. And I think I found my purpose, and I guess the purpose that Strong through every single experience that I have is, how do I make every single interaction? A friendly one because that's the person that I am, and I have now come to realize that the business that I build is also very, very standoff that, so I don't know whether that's like of purposing, but I know that is definitely something that is quite foundational to me. And I have now got a really, really comfortable. As using that as a North star because I know that is a huge part of me and that is the huge part of how I solve every problem that I believe is worth solving. So yeah, like that. That's the, that's the tiny huge thing and when you put friendliness in the world of funding, that's a tough one. But I think it's possible.
I love that because Banks blenders the funding Community has traditionally not been thought of as friendly. Friendly. It's intimidating at best, and many, many people, many business owners, find the whole thing, you know, extremely daunting. So the fact that it's not just friendly, but in the way you described fun fluent, you're more than a tech platform for small businesses, your partner in the most true sense for those businesses.
Actually on that, we have Done't lie landed on what our I guess, our core value proposition or the angle, which we're approaching all of this to your point partner. We went through all these words like partner, co-pilot and what we have landed on is we are the friendliest funding crew, being a very key word there because you know If you think about crew, both from like an event perspective or crew that's on a plane, you don't realize this but every single time you fly, you are trusting your lives with the crew. Now they both help you do some really basic type of level needs or dress some of your basic level needs. Like deliver your fear, your meals, your drinks but also on the other end is When in the event of an emergency, the crew is also the people that you solely rely on, and they are the professionals to basically, take charge land the plane to solve the big problems that come with a, you know, flying during think about it, because most of modern day travel, you don't realize all the things that could go wrong. But it's because the crew has made that look effortless and there's that level of approachable, nervous friendliness. But For so professionalism and I think it just encapsulate exactly what we're trying to do in this space, and we're just so excited that our next 12 months is very heavily and could ask this Caldera proposition is for small business owners where they're the friendliest funding crew and there's going to be different characterization around the different values that we're going to provide to the End customer whether that's informational value whether that is helping them too. Think about the funding strategy a bit more a bit of that advisory, or a bit of that partnership type of role. Yeah, with vote it all up into being their friend, Leah, stunning career.
I love that. I love that, but you're the ones who are going to help small businesses, land the plane. Exactly time of emergency. So what does success look like for you? What's the big hairy audacious goal for fun fluent?
Yeah, I think if we blow it out to like, really, really far away and the super big hairy audacious goal. I would say it's actually our vision, which is to empower the world, to be small business friendly. Now, you will notice that in that sentence, there was no mention of the financial industry. Being the biggest fintech platform or being the biggest funding platform. I truly believe that we have the ability to leverage technology to make the world. The ecosystem, everyone that wants to serve small businesses, they can do it in a small business friendly way. And it just so happens to be funding is the first part that we're looking very, very heavily into. So something more medium term in terms of what that audacious goal looks like is that we're able to give small business? Is assessed to the friendliest funding crew that they can rely on, whilst they go out there and drive lots of positive impact in the world. And I think the goal for us is always, I know on our website right now. We write the, you know, we put our there last year, we helped small businesses access 7 U, s-- seven point, five million dollars in funding, that's all great. But actually, the goal there is to shift that dollar amount to the actual impact that's driven in the world. Because we also believe that the funding then goes on to help the small business to actually drive real impact. And the real impact is always Way Beyond the dollar monetary term, right? So, yeah, in that sense, the goal there is to make sure that we are part of that enabler, the Catalyst to really allow small businesses to go out there and drives, lots of positive impact in the world and our ability to Isn't that like, what will be the direct signal for us that with, you know, achieve that goal.
I love the mission. I am so excited to see where this goes. I will be following you guys very closely. So what's next, are you entering a new market this year? What's the next big step for fun fluent?
Yes, oh we're launching Hong Kong since last year, we're growing into Singapore, we have a wait list that is in that market. We have been present. Enough to actually really see that, you know, this, this age-old problem exists in every market and the way we're solving for it really resonates with our second Market which is going to be Singapore. The next big thing for us and the way we're pushing our technology is, how do we allow for those interactions to be a? I assisted completely AI. So you might actually be interacting with characters of fun fluent or the funding crew of fun. Went and be able to get value either. It's fully automated semi-automated or purely human because we just believe that human element is really, really important. And that characterization is going to really bridge that friendliness. Which technology in the past hasn't really done a really good job in that? It's very functional or especially in the B2B like area. It's definitely more function than delightful, but we believe that with a lot of the stuff that's Painting with generative Ai and all that moving on, in that space. I think we believe we can make that whole topic much more humanized, as well as the engagement. I am going to go as far as they that engagement is delightful. Yeah. Who would have thought, right? I mean, that's crazy. Like, really taking that claim. Yes, we are. Why we want that interaction to be delightful, but the belief is technology, has an ability to make those funding experiences delightful. Who would have thought? Who would have thought this can happen sooner than you think? I mean, characters in general, like think of the most beloved characters in the world they're not necessarily people. Think about Mickey Mouse, for example, yes. Oh, I think the idea that you could make these interactions of these characters, delightful is 100% possible sooner than we think, maybe even more delightful, maybe even more delightful than human interact. Yeah.
Anyway, thank you so much for this chat. I have really enjoyed this. You have made me think about so many things differently, so thank you for that.
Lord, it's my pleasure. I hope it's helpful and it's just sharing. Everyone has a different journey and, you know, I love to share the things that I have learned and picked up along the way and if it's helpful, it's helpful, if it's counterintuitive, that's okay as well. I love having these type of conversations and a forum to share some of that experience with.
even if it's counterintuitive it means that it's making you think differently which I think is one of the most important things particularly in this world where we all seem to inhabit our own little Echo Chambers. Yeah, so thank you so much Jenny.
It's my pleasure. Thank you so much for.
Having me. Empowering the world to be small business. Friendly is in my opinion, a pretty bold ambition, small businesses, represent, almost 70 percent of all employers worldwide. And in developed economies, they account for 55 percent of GDP. So they are key for addressing diversity and inclusion. Since 2021, there's been a boom in the number of new businesses, being registered by women and people of color. So supporting these businesses in there. Early days is key to narrowing income gaps, but I think my one key takeaway from this conversation was that Jenny's Approach at every step is about solving the problem. Her customers really face, and she's thinking about this at all levels. From the language, he uses to how she communicates with subscribers to how fun fluent as a platform is actually built. She recognizes that small business owners are often doing all of the roles, and they don't have access to specialists. It's, and she's creating a platform that's going to work for them. Fun fluent is currently available to Hong Kong based businesses, and we will be launching in Singapore. Soon, you can find the link to fund fluent in the bayou and I will be back in your ears next week with Saucy by kima's, the founder of Earth are a social Enterprise making beautiful accessories and helping Malaysian Artisans, develop sustainable income. It's also fair trade certified. And one of Malaysia's, first be corpse, she's also got some really good advice for all. Women entrepreneurs. So you will want to check that one out. Bye.