Helene Berkowitz is a Retail Tech executive and startup founder with a background in finance and international payment systems. She is passionate about technology with a human component. In 2017, Helene founded ReceetMe to create a digital retail experience focused on the customer experience.
What is ReceetMe all about?
ReceetMe is a mobile platform for digital receipts. Our technology personalizes the retail experience for consumers and empowers retailers with digital transformation tools.
Tell us a little bit about your background and how you started your company?
I worked in Finance for over 20 years in the areas of investments, wealth management, foreign currencies, and payment systems. That background came in handy after I started my company, which came about after a brief visit to a clothing shop. I had picked up a pair of jeans for my husband, who doesn’t like to shop for himself, but I mistakenly bought the wrong size. I tried to exchange them for a different size, but I couldn’t find the receipt. I had an epiphany in that moment when I realized how stagnant certain elements of daily life have remained, while others have become much more hi-tech and efficient.
What was the biggest problem you encountered with your business and how did you overcome it?
Finding the right business partner was a difficult challenge. It occurred to me that many talented people work at big tech companies such as Google or Facebook, but feel creatively stymied. If you’ve ever worked at a huge organization, you know how corporate red tape and bureaucracy can get in the way of projects and career advancement. So I straight-up poached people – and it worked! I found web developers, software architects, mobile app designers, and other high-quality talent who were interested in joining my team because they couldn’t do what they really wanted elsewhere, and they found the idea of ReceetMe valuable and challenging.
What were the top mistakes you made starting your business and what did you learn from it?
In the beginning, I spent too much time focused on investors. I met and spoke with anyone who would talk to me without targeting them or trying to find my “niche investor”. This wasn’t a productive use of my time, and it took my attention away from building the product. I now realize that I should have focused 100% of my efforts on building the best product possible and securing one or two initial customers.
What is one thing that you do daily to grow as an entrepreneur?
I read and listen to other entrepreneurs, especially those who share their failures. The only way I can grow as a founder is to surround myself with people smarter than I and learn from their journeys, successes, and failures.
What has been your most effective marketing strategy to grow your business?
Contactless shopping and green tech.
Even before the pandemic, retail consumers had started to become more health conscious. The health and wellness sector had grown exponentially, with hygiene standards a part of that (think “clean beauty” products). So a big part of our marketing efforts is in the area of contactless retail. Consumers are recognizing – and now demanding – less physical contact between store associates and themselves and higher standards of hygiene.
Even with plexiglass panels between checkout clerks and customers, a shopper often needs to manually enter an email address on a keypad, which has been touched by thousands of other shoppers before them. Implementing ReceetMe’s e-receipt solution ensures there is no physical exchange of paper receipts and no need to key in an email address on a piece of hardware.
Our other successful marketing strategy is about green tech. When people hear “green tech”, they typically think of solar-powered energy systems, eco-friendly shopping bags, recycled plastic bottles, and clean water solutions.
Digital receipts are also part of green tech. That’s because paper receipts are a huge environmental problem. Thermal paper isn’t recyclable and more importantly, is coated with toxic chemicals like BPA and BPS, which have been linked to low metabolism, hormone disruptions, infertility, and even some types of cancer. Creating millions of receipt paper rolls requires millions of trees, water, and chemicals, while e-receipts require none of that, essentially easing the strain on our planet’s natural resources.
If you only had $1000 dollars to start a new startup, knowing everything you know now, how would you spend it?
I would talk to potential customers without any intention of selling them anything. I would ask them about their biggest challenges and simply listen. People don’t really care about your product, so offering to demo something is a waste of time. They want to know how you can solve their problem. If you can do that, they will become your biggest champions.
What’s your best piece of advice for aspiring and new entrepreneurs?
Research your competitors as in-depth as possible. Simply knowing who they are isn’t enough; you need to understand their product in order to address what they’re missing and develop a better product.
What is your favorite quote?
“Authenticity is your most precious commodity as a leader.” — Marcus Buckingham. I love it because I think authenticity is severely undervalued. Too many entrepreneurs try to copy other successful entrepreneurs. People can spot a phony person a mile away. Just be real.
How can readers get in touch with you?
The best way to get in touch with me is by sending me an email or a LinkedIn message with a bit of context.
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