Follow A Female Founder: Anna Chew
Clutter, a lack of space and just way too many things. We all have those problems, and Anna Chew has a solution for them. She started BEAM Space as a way to expand living space. BEAM allows you to store all your stuff in a secured warehousing facility and if you miss having certain things around, you can just get BEAM to bring them right back to you. Learn more about the female founder behind this spatial innovation, Anna Chew.
BEAM Space (https://www.beamspace.com)
Industry: Storage and Logistics
Revenue Model: Monthly billable charges for storage based on number of items stored and additional revenue from logistics and add-on services
3 year plan: To expand to Malaysia, Hong Kong & Taiwan, targeting to hit revenues of $5 million per market
Describe three of the most significant growth curves in your business.
- Listening to data. As a data-driven company, we tested the model and refined it very quickly using data accumulated on our end. We know the pain points, reasons why people store, how to get them to store and how to market to them. Within a month of implementing these learnings, we experienced significant growth which has carried through month-on-month.
- Businesses these days rely a lot on marketing and awareness. We were able to find our sweet spot and are working to continuously make our customer acquisition programs better, again relying on key data points.
- Collaboration with strategic partners have opened doors to new markets and opportunities for additional offerings, collaborations are also an attractive way to add value to each other’s business and grow the business relationship.
How does your business fit into the future of your industry?
Storage has been a very traditional business, we were the first in Asia to introduce a mobile app that allowed clients to schedule pickups and deliveries and view images of all their stored items from the comforts of their home or office. Technology has enabled logistics to be integrated into our services, and pricing structures have changed the game, instead of renting out large storage spaces, we charge clients only for what they store. Imagine cost savings for companies in e-commerce, when stock gets sold. Our app has also made it possible to access affordable warehousing and logistics services from a single provider, i.e. BEAM Space. This has been a natural fit all along, we’re improving the process with technology.
What has been your biggest insight or lesson learned about running a business?
Test the business model quickly and very early on so you can throw out what doesn’t work and improve on things that do, in the meantime, focus on sales.
What has been your scariest moment? How did you resolve it?
An entrepreneur will tell you they have heart-stopping moments ever quite often. I’ve been through so many, you just have to approach it and focus on the final outcome of a resolution. Often, letting it sit can also bring much clarity, things do at times resolve themselves when one is patient and contemplative, instead of reactive.
What is the one piece of advice you want to give to aspiring women entrepreneurs?
Start! Stop sitting on a business idea wondering if you’re good enough, overthinking about how it will be a success and etc. No business plan follows the initial plan, and you’ll never know unless you try. If you do nothing, you’re guaranteed to fail.