CEO Insights Magazine

In the realm of B2B trading, a persistent challenge looms large- the cash flow predicament. This obstacle has long plagued small to medium B2B suppliers and marketplaces, hindering their operational efficiency. Recognizing the severity of this issue, Steven Li, Co-Founder and Chief Product Officer of Fluid Financial, emerges as a visionary leader dedicated to solving the cash flow challenge. With a profound understanding of the intricate dynamics within the industry, Steven brings over a decade of entrepreneurial management experience, marked by sharp business acumen and expertise in product, project, and people management.

His mature and practical approach has been instrumental in developing and leading teams, ensuring a steadfast focus on long-term and sustainable business strategies. As a natural leader, Steven's exceptional abilities empower him to effectively manage and drive teams, fostering optimal performance. At Fluid Financial, Steven is pioneering Flexible Financing solutions for B2B purchases, providing a transformative and strategic approach to alleviating the cash flow predicament faced by businesses in the B2B trading landscape. Let’s get more insights from him in this interaction.

Provide an overview of your professional journey, how you embarked on your career, highlighting key milestones, and elucidating on the inspiration behind founding Fluid Financial?

My professional trajectory commenced in the field of engineering, with a tenure at ASML, a semiconductor company headquartered in the Netherlands. Following this, a pivotal moment in my career unfolded when I joined LinkedIn's Singapore office as a product specialist, marking the commencement of my foray into the IT industry. Over the years, I transitioned into a product professional role, navigating through various startups, both successful and unsuccessful, before embarking on a significant chapter with Atome, a leading Buy Now, Pay Later service provider for consumers in Asia.

Subsequently, my career took me from Atome to Coupang in South Korea. I initiated my latest venture, Fluid Financial. The impetus behind this endeavor lies in addressing a persistent challenge within B2B trading the cash flow predicament. Recognizing the inadequacy of current market solutions for small and medium enterprises to alleviate their cash flow issues, we established Fluid Financial. As we approach our one-year mark, we have witnessed strong traction and positive developments, affirming our commitment to resolving the cash flow challenges faced by businesses in the market.

How would you define Fluid Financial and its current position in the market?

My co-founder and I regularly gather feedback from friends in B2B startups, marketplaces, and prospect clients. A recurring question arose about viable 'buy now, pay later' or net term options for B2B trading. This led us to assess the market, identifying an efficiency gap. Conversations with suppliers and marketplace owners confirmed the prevalence of delayed payment challenges. After discussions with 60+ suppliers in Singapore and Malaysia, it became clear that net term payment options were a persistent issue. Motivated by the potential impact of our solution, we founded Fluid to address this problem for small to medium B2B suppliers and marketplaces.

What factors do you prioritize when formulating effective corporate growth strategies?

In our business approach, understanding the pain points serves as the foundational step in both business and product development. We refrain from hastily introducing new features, opting instead to invest time in thorough discussions with our target audience to comprehend their challenges. This involves analyzing the insights we gather, identifying the most severe pain points, and assessing which areas can yield the greatest return on investment for business growth.

The subsequent step involves brainstorming all potential solutions and determining the feasibility of addressing the identified problems with minimal resources. This phase aims to create an initial product offering that allows us to test and validate our hypotheses regarding the viability and user acceptance of the solution. Following successful hypothesis validation, we allocate substantial engineering resources to develop a best-in-class digital product that effectively addresses user needs.

This three-step approach not only accelerates our product development timeline but also mitigates the risk of investing time and resources in the creation of non-essential products. It stands as a fundamental strategy in our product development endeavors.

What is your perspective on products driving customer acquisition or retention in today's IT market landscape?

For customer retention, engaging with users to understand motivations, reactions to incentive withdrawal, and identifying resonant features became pivotal. In the B2B context, market incentivized mechanisms face challenges due to the complex decision-making chain within each company. Success in B2B requires addressing operational challenges and obtaining buy-in from diverse organizational levels. To enhance B2B customer acquisition, cultivating in-depth relationships with potential clients and understanding their multifaceted pain points is crucial. Employing methods like pattern analysis to pinpoint collective issues further improves the success probability.

What are your future aspirations?

In my capacity as a product professional, my ongoing pursuit centers on addressing tangible problems that yield meaningful business outcomes. Presently, with Fluid Financial, I am confident that we are effectively tackling a pertinent issue with well-crafted solutions. Our immediate focus involves extending the reach of our services and products to diverse countries. Looking ahead, my enduring inspiration remains rooted in assisting individuals and organizations in a highly effective manner to alleviate their pain points. This principle serves as a fundamental guide in shaping my future endeavors.

Steven Li,  Co-Founder & Chief Product Officer,  Fluid Financial

He is an entrepreneurial leader with a decade of experience in the IT field. His sharp business acumen and strategic vision drive the development of innovative solutions, addressing persistent cash flow challenges in the B2B trading landscape.