Flying solo netted this founder US$370,000 in first-year revenue

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Hello reader,

I’d like to pose a question to the founders out there reading this. When you first came up with your business idea, did it immediately occur to you to look for a co-founder? Or did you just naturally go ahead on your own? And why was this so?

Today’s premium article is about a one-person startup that matches businesses with part-time, freelance workers. Reading it got me thinking about which route I’d take if I were to build a startup, and “find co-founder” was the overwhelming answer. Guess that speaks to my (lack of) risk appetite.

Anyway, read on to find out how this guy earned S$500,000 (US$370,000) in revenue in his startup’s first year of operations, all by his lonesome. And let me know in the comments – or reply to this email – what your own founding thought process was.

Today we look at:

• The solopreneur who earned US$370,000 in his first year
• Bukalapak’s financials for 2022
• Other newsy highlights such as analyst and investor reaction to Lazada’s reorg and the latest in Zomato’s efforts to increase electric vehicle adoption.

Premium summary

Something something go fast, go alone something something

Image credit: Timmy Loen

I’m an introvert through and through, but if there’s one thing I’ve learned in my time at Tech in Asia, it’s that a lot of the best work comes from collaboration.

My team may be called the Creatives, but there are a bunch of great ideas from folks in other teams as well. When we combine our powers like the Captain Planet kids, wonderful things happen (though with fewer green mullets).

The day to bring someone in to help run Singapore-based Staffie may come, but for now, En Lerk Law is doing just fine on his own.

• Street-level knowledge: Law’s struggles to find a part-time job while studying in Melbourne inspired the creation of Staffie.
• Covid-related opportunity: When pandemic safety measures were relaxed in Singapore, the F&B industry opened up again but there was a hitch: staff shortage. Law got to work by filling that gap while providing flexible jobs to workers.
• Two sides to the coin: The Staffie app allows businesses to leave a rating for part-time employees after a shift and enables workers to leave detailed reviews of the establishments. “Having worked part-time, I want to help the workers as well,” Law explains.

Read more: No VC: This one-man startup made S$500k profitably in its 1st year

When is US$130.8 million not enough? Ask Bukalapak

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