Read the report and watch the full discussion in the article 9 Tips From Entrepreneurs To Take Note Of.
HAS technology made it easier for entrepreneurs to operate?
It’s certainly bred a new generation of idealistic business people who now have access to digital tools to facilitate deal making and expand their network and reach rapidly.
The rise of the Internet and a slew of revolutionary products and services arising from its existence has enabled instant communication with a camera and computer when it would have previously required travel and significant costs.
Opportnity Cost
The rise of technology and automation has also resulted in the creation of new jobs and opportunities, at the expense of some older vocations.
Gone are the days of telephone operators, or even land lines for that matter, as smartphones and web-based connections dominate the scene.
Retail shopping is forced to evaluate its relevance in the face of online commerce opportunities.
The demise of print in favour of digital distribution — magazines, newsletters, menus and fliers, among others — has resulted in new ways of connecting with communities.
You can expect the rise of automation and artificial intelligence to sweep in more changes in time to come.
While many would view these as enhancements to the eco-system, the rapid rate of change does pose its own issues and disruptions.
Does this augur well for entrepreneurs as they size up opportunities on the horizon to seize?
The WED WEB CHAT — Entrepreneurs Without Borders on 8 May 12:45-1:30pm SGT raises the issue of being an entrepreneur today.
Join the WED WEB CHAT via this link: https://zurl.co/da7g
Joining the discussion are:
Joshua Chin, Co-founder, Chronos Agency; Ray Ang, Founder, Sweetest Moments & Director Hoover Melamine Industries & Zmoments Melamine Ware; and Alan Cheung, Founder, GreenAcre Group Ltd & Blink Community.
Each of these members of Entrepreneurs’ Organization represents a different area of the eco-system, and together they will provide insights into expanding their respective businesses internationally.
ARTICLE CONTINUES BELOW
Rise Of Entrepreneurs
Hong Kong resident Alan Cheung spends his time travelling to where he needs to be in order to stay in touch with the businesses he has started up, and to scout for potential opportunities.
His range of business activities spans property development, property investment management, IoT and co-working spaces.
Alan believes that “entrepreneurs will increasingly have greater influence and impact as the world changes rapidly and at an accelerating pace”.
He is of the opinion that entrepreneurship empowers people to seize opportunities to make a difference in areas that they are passionate about.
Building Old And New Opportunities
Ray Ang is a third-generation family member of Hoover Melamine, one of the largest manufacturers of sustainable dinnerware in Malaysia.
As a director of his family’s business, which was established in 1969, Ray has expanded the reach of the Hoover and Zmoments products to 44 countries.
Ray says the company’s revenue is currently around US$20 million per year, estimated to grow at a rate of 20% year on year, especially with the establishment of its HQ in Dubai.
Ray and his wife set up Sweetest Moments in 2006 to fill a need. “When we had our first kid, we couldn’t find the products we wanted. We believed that e-commerce was the way to go.”
Ray says Sweetest Moments is one of the largest customised pastry gifting companies in Singapore.
Building From Scratch
Joshua Chin is a digital native who set up Chronos Agency from his dorm at the National University of Singapore. He bootstrapped his business, hiring low-cost contractors to create business models that he could sell to markets willing to pay more.
“It was a game of arbitrage, building a relatively low-risk path of global expansion,” Joshua explains.
As the e-commerce marketing agency grew to a sizeable team of more than 80 across 12 countries, and serving brands in USA, UK, Australia, Singapore, among others, the company started opening offices, flying the team to do market researches, sponsoring conferences and events.
While the trappings of success are enjoyable and reflect positively on the brand, Joshua also laments the fact that “we lost touch with the bootstrapping, entrepreneurial mindset”.
It’s like walking a tightrope, balancing between needs and wants, but the potential for business opportunity growth is clearly in Joshua’s view.
“Winners win by deciphering signals from noise,” Joshua explains.
In the noisy world of low barriers to entry and demands for instant gratification and short attention spans, “the challenge is in slowing things down to see things clearly in the fastest-moving economy the world has ever seen”.
Given the current environment and the slate of issues and opportunities, how will these entrepreneurs grow their respective businesses? How do they view the future? What skills would be required to navigate the currents that are yet to come our way?
Hear what they have to say in the WED WEB CHAT — Entrepreneurs Without Borders. Details below.
Watch our previous wedwebchats: https://storm-asia.com/category/wed-web-chat/
Got a topic of interest? Know a good panellist with a thought-provoking perspective on a subject? Please email editor@storm-asia.com with your details and a short summary about the person or topic.
