EBS in full swing and nearing halfway mark
The EBS inaugural batch is progressing well and nearing the half way mark of their nine months course.. After the launch and introduction session on March 25th facilitated by Dr Lim Kah Hooi and Dr Nehemiah Lee, the group covered What is Business (Dr Lim Kah Hooi) on April 29th and Who are the Customers (Mr David Wong) on May 27th .
The latest session held on June 24th which dealt with What is Capital was facilitated by Mr Joey Teh. Mr Jeff Ong, CEO of Flexiroam Ltd (quoted on ASX) was invited to share his journey with the participants. Key points from Jeff :
1. Human capital - don't be afraid to hire smarter people, 70% of those who joined him are still with the company..they came believing in the company, and not because of the money 2. Time - found a mentor/investor in David Ong who invested time in him. Besides giving advice, David introduced others to him, network etc. It saved him 15 years of time if he had to learn those things on his own 3. IP.. never cease to improvise and improve ..your IP is valuable capital (recipe, working methods etc)..
4. Success is not instant and comes from hard work. He pitched his start up to 126 potential investors over 2 years before he got his first investor.. Keep learning.. as engineer, he had to learn about marketing, finance etc.. to prepare for his pitching..
5. Build relationships - he continues to keep in touch with those who didn't invest in him initially and they are now ready to invest if he needed them.
6. In order of priority : Employees, Customers and Investors. He applies innovative ways to promote the company overseas by using foreign students who intern with Flexiroam to promote the company when they return home to minimise overseas travels by local staff so they can be with their families. 7. He sees himself as a steward of God's resources and does not run the business as a casino, as what his investors expect. 8. He sees Flexiroam as still a start up in God's eyes and is far from being a Kingdom company. There is constant temptation to take short cuts. He learns from each step that leads to the next level of temptation but God helps him to overcome and learnt from mistakes.
9. Discipleship is his main objective and mentors his group of seven.. He is very secure in his position and challenges himself to find someone better to take over from him so he can move on to do something of greater impact..
10. He is passionate about what he is doing.. taking the company to where no one has been before, traversing uncharted waters and experiencing God along the way.