Loyal 1 has won The Workspace/MiWay Business Insurance Entrepreneur Competition. Ty Hlangwane created the cloud-based loyalty management platform for small to medium businesses which allows shoppers to digitise existing loyalty and rewards cards in one app. Businesses can create profiles and reward customers in an app-based platform, create loyalty plans and communicate with customers from R99 per month.
1. It’s been a month since you won The Workspace/MiWay Business Insurance competition. In retrospect, what were the key lessons you learnt on your journey through the process of the competition that you’re now putting into practice?
It has been an amazing month since the win. We have been preparing for a major launch coming in the next few weeks. They lessons have been how to dive deeper into the business and look at your business from a different perspective. The pitch training also helped give us the perfect pitch for our investment pitches.
2. Now that it’s over, what are your main takeaways from the competition?
We have made valuable connections that have opened new doors or the business and obviously the prizes
3. How tough was it and how did you ensure that mentally you were strong enough to be put through your paces as you were, especially since you made the top 10 finalists?
The competition was tough, there were amazing businesses going up against us. We always ha hope to win and we just prepared hard and hoped for the best.
4. What are the main changes you are experiencing now that you have won?
Biggest change has been changing offices; the Selby Village Road branch of The Workspace offers amazing office space. Our approach has also changed through what we have learned.
5. How are you using the various prizes you won to use?
We have our new update on the way. Oxigen communications will be a great help with the launch and the insurance from MiWay has also been a great help in keeping costs down. The Workspace office has helped.
6. How could another entrepreneurs use your Loyal1 platform? What do they get out of it?
Other entrepreneurs can use the platform to create customer retention and get better data on who their customers are. They can simply search Loyal1 in the Android or iOS app store. Download LAAS, create a profile and get started. Easy as 1-2-3.
7. How are you now marketing your business to take it to the next level?
We are preparing for a new update with amazing features that will enable Loyal1 to be your daily companion.
8. What are your plans for your product for the next year?
The plan for the next year is to firstly launch the new update, make it your personal companion. Then we plan on scaling the product beyond the borders of SA in the next year. We are also in advanced discussions with retailers and numerous stakeholders to on-board them.
9. And the next five years?
The next five years hold exciting times on us at Loyal1. The new launch will open new avenues in new countries and allow all businesses to on-board easily to get the best customer retention. We will focus on marketing, scaling and basically making loyal1 a household name.
10. Any other insights you’d like to share, especially lessons for other entrepreneurs starting out and growing their businesses?
The tech space is going through a very interesting time right now. Anyone who wishes or engage and enter the market? The time is now. There are numerous problems in the world that require quick, swift and seamless solutions. We need more entrepreneurs to create employment and help our country move forward. Growing and/or starting a business is never easy but it is totally worth it.
