Last week, we were delighted to welcome more than 50 on-demand business leaders to our panel discussion around building and scaling successful businesses in this dynamic space. On the panel were
At Ravelin we do fraud prevention and margin protection for a variety of businesses from finance to ecommerce but our roots are in on-demand. And due to the nature of the product we provide it is our privilege to work directly with the operations, finance and customer service teams in medium to large on-demand businesses. These are the engine rooms of these businesses, often relatively in the background when there are discussions around why certain on-demand businesses succeed. Through this event, we wanted to shine a light on these functions and generate discussion on how to build strong, sustainable and successful businesses in this space.
We've annotated the video of the evening by topic. We will write in more length soon about what was said in each one but for now we want to make the video available.
1. The Day 1 Problem
Any on-demand business is trying to square the circle of attracting a supplier network on one side to create a market of goods and on the other attracting consumers to that market. But which do you focus on first?
2. Creating Trust and getting everyone paid
How do you develop the trust in a supplier network; particularly that they are going to get paid and that they can trust this market that they have joined? Equally how do you set up a payment channel for you own business to make sure you get paid and that fraud does not become your #1 customer?
3. Going big or stay home
In on-demand we have seen successful and unsuccessful expansion into new geographies and into new vertical markets. What are the metrics you should look at to know the time is right to expand?
If Britain chooses to leave the EU in the upcoming referendum what are the implications for your business and business generally? Will London survive as a tech hub?