Startup Spotlight: Susan Falola

Startup Spotlight: Susan Falola

The Experimental Entrepreneur: How Curiosity Fuels Innovation and Growth at JUUBIX

Susan Falola is one of the Top 100 Global Women of the Future 2024, Global Frontrunner in Fintech, Founder and CEO of JUUBIX, a financial and collaborative marketplace that matches talent, companies, and investors.

The JUUBIX platform provides ‘Stakeholders as a Service’ matching profile users based on interests and skills. JUUBIX eliminates all bias, including age, sexuality, gender, race, and religion in their suite of products and services. Their vision is to put people in charge of their finances in a more collaborative way.

Why did you start JUUBIX?

After participating in a lot of hackathons, I felt the need for a platform that would offer more sustainability and fairness. Many hackathons and tech sprints focus only on the final product. They neglect the involvement of the developers involved and the long-term sustainability of the services or products created. I saw the need for a platform that fostered a more inclusive and supportive environment.

This focus on inclusivity resonated with software developers around the world, leading us to start the Global TechSprint Leadership Recruitment Agency (GTLRA). We emphasised individual empowerment, an inclusive framework, open communication, leadership contributions, and recognition of individual efforts. This fostered a strong sense of community and ownership among participants, leading to a highly productive and collaborative environment.

What kind of work gets you most excited?

I like working on solutions that are both innovative and user-friendly. I have a hybrid style of thinking that allows me to consider multiple perspectives at once. I like to blend analytical thinking with creative exploration and experimentation. This lets me look at the technical feasibility of an idea, as well as its user experience. This leads to a holistic approach to product development, not a one-size-fits-all.

For example, one of our products, JU-MEET, offers high-quality video conferencing features combined with a very user-friendly interface. It allows users to set rooms to public or private. The ease of design and functionality makes it easy for anyone to use, regardless of their technical expertise.

How do you decide which projects to pursue at JUUBIX?

We value all ideas. However, passion is essential for driving our development at JUUBIX. Having a variety of product ideas can help to gather momentum. The level of team buy-in for a project is crucial. Who is committed to seeing it through? We also find that our team is a valuable source of early feedback.

Why do you think it’s important to experiment as a founder?

True innovation requires diverse efforts. Instead of following the crowd, I take a more experimental approach. I listen to user needs and keep my ear to the ground. I experiment with different approaches. This mindset has allowed us to pivot as needed. By constantly testing our ideas, we find potential roadblocks early. This saves us a lot of time and resources in the long-term.

Can you share an example where being experimental led to a  breakthrough at JUUBIX?

When we made MomoCode GameOver, we initially wanted to create a twist on the Rubik’s Cube. With our experimental mindset, we tested the idea early in the development process. User feedback showed us immediately that the concept might infringe on copyright. Plus, users gave feedback that they liked multiplayer puzzles much more anyway.

This led us to pivoting early. With constant experimentation and user feedback, we created a multiplayer game concept that resonated much more with our audience, and was equally innovative for the game market.

How do you maintain a culture of curiosity and experimentation within your team, especially when facing tight deadlines or budget constraints?

We do this by allowing team members from around the world to offer their diverse perspectives on features or concepts. This significantly contributes to creating an open environment for product and service development.

While brainstorming is encouraged, we keep meetings focused, ensuring they don't exceed an hour. This approach sparks discussion without wasting time. Our FinOps (Financial Operations) approach to budgeting helps us avoid exceeding capital requirements and prevents us from accepting unfavourable pricing.

How do you approach failure and setbacks?

Every failure is a learning experience. I've faced many rejections and setbacks in my career and with JUUBIX. But, I've overcome them with strong determination. I believe you just need to keep moving forward.

Founders felt upheaval in 2023. How can JUUBIX impact business change in 2024?

JUUBIX can play a big role in 2024. It can help founders solve some of the challenges they faced in 2023. We offer a set of integrated solutions for this. Here’s how:

Our "Stakeholders as a Service" model empowers investors to achieve superior returns through real-time flexibility. Unlike traditional investment structures with fixed lock-in periods, this innovative approach allows for buying in or out as market conditions dictate. This dynamic control translates to the potential for:

  • Reduced Risks: Investors can adjust their positions based on market trends, potentially mitigating losses during downturns.
  • Shorter Investment Horizons: The ability to exit investments quickly opens doors to capitalising on emerging opportunities and achieving faster returns.
  • "Stakeholders as a Service": By offering real-time control and flexibility, "Stakeholders as a Service" empowers investors to make informed decisions and potentially maximise their returns within a shorter timeframe.
  • Predictable Costs: JUUBIX's subscription pricing can offer founders a more predictable cost structure than seeking big upfront investments. The platform lets founders and investors meet many needs with one subscription, which may reduce their customer acquisition and operational costs.
  • Broaden Talent Pool: JUUBIX's Global TechSprint Leadership Recruitment Agency (GTLRA) can connect founders with a wider pool of talent. This fosters diversity in their teams and makes them more scalable for investors
  • Boost Collaboration: JUUBIX's video conferencing (JU-MEET) and business matching (JUUBIX) tools can facilitate improved collaboration within teams, funding and with potential partners.
  • Streamline Operations: By offering a variety of integrated solutions, JUUBIX can help founders streamline their operations and potentially reduce reliance on multiple vendors.
To find out more about JUUBIX, get in touch with Susan!

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