If winners never quit, then it was inevitable that Strife Lim would hit the jackpot. “The number of failures my business partner, Chris, and I have encountered far outweigh the successes,” he says. The duo started their first entrepreneurial venture together eight years ago. Although the Squatty Potty toilet was their hero product, the goal was to be an online version of Watson’s.
The company operated at a loss and went belly up. “It is laughable how little we knew and how ineffective we were,” adds the 35-year-old. “Our strategy was poor. We lost money on every sale just to gain some market share. We severely lacked experience and knowledge.”
The only assets they had were ambition and courage, at least enough to fuel their persistence to continue trying different things. A breakthrough came when they started selling self-designed T-shirts online internationally as they learnt about product market fit, marketing and building a great team.
But the pair’s zeal to build a local brand lingered. Poor experiences with home improvement products also made them want to revolutionise the market.
“Many of these products had little to no quality assurance. Some didn’t even display the pricing online. They were also expensive and had poor customer service.”
Strife Lim on the former home improvement product landscape in Singapore
So, they founded Sterra two years with the aim of setting a new standard. They decided to first sell water purifiers from Korea, and a year later added air purifiers to the range because “clean air is as important as clean water”. Sterra has thus far raked in an eight-figure revenue.
In Lim’s opinion, Sterra’s products stand out thanks to fulfilment in three areas: affordability, product quality and marketing efforts. He doesn’t shy away from their promotional strategy, emphasising that the company uses multiple social media channels to reach consumers. His big tip? Marketing materials should entertain and educate: “It is one of the major reasons for the brand’s success. Our consumers understand how these products can add value to their lives.”
Sterra also strives to provide exceptional customer service, which includes reducing response time and providing as much assistance as possible.
While the company is on the cusp of a wave, it is not without challenges. At present, the biggest hurdles are in inventory management and efficiency. Cost is high because of the nature of their products, which means difficulty balancing scaling and amassing resources. In addition, says Lim, it can be tricky keeping everyone in the company happy, fulfilled and productive.
Nonetheless, the brand rolls with the punches and has just launched the Sterra 7, a new and improved water purifier. It is also focusing on expanding overseas. Having already landed in Malaysia and the US, the products will soon make their way to Australia and the UK.
Lim’s advice for entrepreneurs? Do things fast, be humble to learn, and have the courage to fail. “Starting a business is difficult, but the challenges make the journey more worthwhile. Don’t have regrets. The challenges we faced because of our mistakes also helped us to grow into who we are today. ”
Art Director: Chia Wei Choong
Photographer: Mun Kong
Photographer’s assistant: RJ Teo
Videographer: Alicia Chong
Makeup: Weeming using Dior Beauty
Hair: Aung using Kevin Murphy
