Throughout our lives, it is simply impossible to plan for every situation that may arise, and may be better to just go ahead with the flow. Featuring the founding directors of LiteMobile, Mr Desmond and Mr Derrick, the dynamic duo had never once planned to become entrepreneurs that they are today. The two first got acquainted during their teenage years, and were working independent jobs from one another. It was only during their time in National Service back in 2013 that they founded LiteMobile, building it into the giant company that it is now.
The company currently operates locally, with as many as 6 outlets that are strategically located around heartlands of Singapore. Their primary business activity includes selling brand new and pre-owned mobile devices of various major brands, and offering walk-in or doorstep repair services to clients. If in possession of old mobile devices, one could also head down to any of their stores and trade it in for value. Plans have been set to expand the franchise both locally and internationally, to countries outside of Asia, like Australia.
Origins
Taking a trip back to the history of LiteMobile, to the time where Derrick and Desmond were still serving the nation like every Singaporean Son. At that time the two had an idea to start this franchise, and broke down their analysis for all to understand. During that period of time, mobile phone retailing was the in-thing and everyone wanted a share of the juicy pie. To add on, e-commerce was not yet popular as compared to the flourishing industry today, hence creating a huge demand for mobile devices in the open market, which the duo saw an opportunity. Not tied by any financial burdens, the duo decided take a risk and emptied their savings into starting the company, which marked the start of their partnership.
However, right at the start of the journey, they were already faced with their first challenge. They were unable to afford huge inventories of mobile devices due to lack of capital and could only display dummy models of phones, which created more problems. Customers who are interested in purchasing mobile phones needed a working model in order to make a decision, and when only being offered the dummy version, few were willing to make the purchase. To tackle this issue, Derrick and Desmond would persuade customers to return after they have the stocks. However, as though to further aggravate the situation, most of the customers would want to purchase the product on the spot, not willing to wait. Thankfully, with their excellent customer service, they were able to retain a portion of customers, managing to rake in revenue for the company.
At that point in time, the revenue generated was sufficiently great, but to ensure the elimination of such problems in the future, the duo re-invested most of their revenue into purchasing mobile devices, stocking up their inventory. They were willing to accept a low monthly wage, all for the future of LiteMobile. Eventually, their hard work paid off, allowing the company to reach it’s current height.
“We want to have that personalised connection with customers.”
Within the neighbouring competitors, LiteMobile is the only mobile phone shop that offers full range of phone services like retailing, repairing and membership system. Their repairs services are top of the notch, offering doorstep repairs on the same day. The technicians that they possess are also of quality, being able to handle any adversities that they face. More importantly, it has a culture of operating business with integrity, clearly illustrating the price range of products with no hidden charges. The duo also constantly makes effort to establish a connection with customers, winning them over with sincere hearts. From their first day of operation, one thing has remained the same for Derrick and Desmond to this date. They have and will always priorities customer service, even to the extent of using their own mobile numbers as contact points for the company, interacting with customers despite their busy schedules.
The humble founders believe that perseverance and never giving up is key to success. Many at times, individuals give up on their business only after a few months of not profiting, doubting their business model. However, luck and timing are also crucial external factors in determining one’s success, which could greatly determine the eventual path of the company. That being said, they also would like to warn people of persevering only within their means. One should only continue holding on to a losing business should their financial ability allow. At times, giving up will benefit one compared to holding on without the right conditions.
Upcoming Plans
Frequent patrons of the company can rejoice as the founders are looking to furnish their membership scheme thoroughly, making it a complete one. Members of this scheme can accumulate points through transactions with the company, and the points could be used to redeem for discounts, products or services. They aim to have a more personalised connection with the customers through the scheme, and also to pass on larger percentage of cost savings to them. Despite the successes so far, Derrick and Desmond has high hopes for the company and is not yet satisfied with the current scale. They envisions LiteMobile to become the leading mobile retail company in Singapore, establishing a good reputation that is famed for their services and products. Once this has been achieved, they plan to expand their product market, dabbling in other form of products other than mobile devices, much like a superstore. Given their rate of progression, their goal may just be around the corner.
