Wellson Lo, Co-Founder & CPO, Bibit.id
Wellson Lo, Co-Founder & CPO of Bibit.id having had prior experience in the financial sectors from accounting to equity research analyst in Singapore and Jakarta. Wellson is quite familiar with the financial services industry, specifically the capital market sector.
In his conversation with AC Ventures, Wellson, who’s included on the 2020 Gen.T Leaders of Tomorrow List, explains his experiences during his career until he founded Bibit.id together with Sigit Kouwagam, and Johny Susanto. He also shares tips for maintaining a healthy work-life balance and his advice for the next generation of founders.
Here are some excerpts from our conversation with Wellson Lo:
How has your life experience made you the leader you are today?
My life experience has shown me the importance of continuous learning and reflection process. Leaders are not made overnight. And leadership qualities are tested not in smooth sailing, but mainly in tough and challenging times.
What is the most important lesson you’ve learned in your career to date?
There is always a better way to do things. You can always improve. Rethink. Question. There is no holy grail.
Every book, every theory, everything around us is made up of people no smarter than us. I think with different contexts, different situations, there is always room to do it a little better.
What does the typical day of a Co-Founder and CPO of Bibit.id look like?
It’s always about alignment. Coupled with brainstorming, discussing, and finding fresh ideas with the team. Building a culture of collaboration and fostering a creative environment within the team. There is also the question that we keep asking ourselves, “How can we help improve our users’ experience?”
What are your hobbies besides work, and how do you maintain a work/life balance?
I believe that a work/life balance is very important to keep my well-being, to stay happy, energized, and inspired. In my free time, I enjoy watching movies, including K-Drama, and spending quality time with my family.
What do you think are the biggest issues faced by startup founders today?
Based on my observation, I think there are two issues faced by startup founders today. First, the ability to hire, develop, articulate, and bring the best potential from their talents/people. Second, it’s the willingness to pivot because like it or not, startups should stay relevant to what people need and the problems they’re trying to solve.
What type of VC partner do you want? And what do you think about ACV?
We’re grateful for the opportunity to work together with the VCs who resonate with our vision and values. ACV is a great partner who supports us and encourages us to always give our best in increasing financial literacy and investment habit in Indonesia.
What are bits of advice that you think startup founders need to be aware of?
Stick to what you do best. Stick to your strength. Hire people smarter than you.
Think big, but act small consistently, and after all, put your users first because you want them to be happy when enjoying your products or services.
In which sectors do you think we better going to invest more?
What are the best things we can do to make our customers more loyal?
Under-promise and over-deliver. Customer loyalty is generated by an excellent and satisfying experience when they use our products or services. So, in everything we do, we should think about the impact of our actions on our users.
How do you allocate marketing budgets for different channels and campaigns?
First, we must know the effectiveness of each channel and campaign. After that, we’ll know what channels or campaigns work best for us to meet our goals when we communicate with specific audiences with certain demographic and psychographic aspects.
How are you measuring productivity and ensuring everyone has a balanced workload?
At Bibit and Stockbit, we use OKR (Objectives and Key Results) to help every team member stay on track with the company objectives. We communicate on daily basis, check on each other frequently, and always monitor the way we work to make sure that everyone could work well, feel included, and not burned out.
Do you have any exciting projects coming up? Or what’s next from Stockbit/Bibit?
We just launched Stockbit Academy to help our friends in Indonesia learn about stocks and the capital market from scratch and for free. Moving forward, we’re going to work on various education-related initiatives to increase the financial literacy of the public in general.