Business in:Brief with Monica Limanto (Petsy)
CEO and co-founder of Petsy – 2018-present
Monica Limanto is the CEO and co-founder of Petsy, an Australian pet insurance provider committed to providing comprehensive cover and helpful advice to pet owners and owners to-be. The vast majority of pets across Australia – 4.8 million dogs and 3.9 million cats – are currently uninsured. So, Monica and her team aim to change the narrative and offer security and peace of mind to pet lovers across Australia.
Monica tells us about herself, her business and plans for the future. She also imparts to us some of her keys to success and advice to other aspiring entrepreneurs.
What was your first job?
My first job was delivering food and clearing tables as a food runner at the age of 13. At a young age I had wanted to get a job and be "independent". At the time I lived in the suburbs and caught the train to the city, handing out my printed resume to every restaurant that I could walk into. One eventually took me in and I remember my parents being so happy that I had found a job.
What's your proudest achievement?
I don't think anything beats the buzz and feeling of the very first sale. The first year of building a business is full of blood, sweat and tears behind the scenes. The first organic sale is the business's first sign of life and it's an incredibly wonderful moment.
What's something that you have learned in business that took you by surprise?
When you're young or if you're just starting out, it can be really easy to idolise people who have achieved what you want to achieve and you tend to believe that they must have some sort of super-human power.
When you start meeting some of these people along your journey, you realise that they are just normal human beings who have worked extremely hard, had the courage to build something from nothing, have made mistakes along the way and never gave up. Opportunity doesn't discriminate.
How do you plan on growing your business in the near future?
Currently in Australia, 9 out of 10 pets are uninsured and our goal is to change that number. We're currently building the country's most comprehensive online pet tool which will help users to determine the most suitable pet breed for them based on their lifestyle, as well as educate future pet owners on responsible pet ownership.
The tool will offer free pet information to the community, offer the latest pet-breed research and combine a cloud-based storage system for pet owners to store their pet's important information such as microchip data and keeping track of vaccination records. We're also expanding our distribution channels and building our Petsy member's benefits program which offers pet owners with exciting rewards for looking after their pet's health.
What other business leader do you most admire and why?
There isn't one above all. I am humbled by my mentor Dean for his willingness and openness to share his knowledge and expertise. He helped to open the door to a new world, broadened my horizons, pushed me to ask better questions and it changed my life.
I will also always admire my parents who worked tirelessly to build a better future for their children. They worked multiple jobs for years whilst raising two small children to give us access to a better education. They exposed me to a level of tenacity and work ethic that I have rarely found matched.
What's the best piece of business advice you've ever received?
"The impediment to action advances action. What stands in the way becomes the way."
What advice would you pass on to someone starting out in your area?
Surround yourself with the right people – it makes all the difference.
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