Running a business is not as easy as we think. Some are born naturally as an entrepreneur or inherit it; some need to learn the necessary skills to succeed. The different strengths and talents among us make the world beautiful. We need to be resourceful, visionary, prioritized, life-long learners, problem-solving, determined, and implementers to be quality and successful in every business field we are involved.
It could be argued that investing in training and development is key to sustaining business growth and success. Training, exposure, or development help companies gain and retain top talent, increase job satisfaction and morale, improve productivity and earn more profit.
Last Saturday, 12 November 2022, we participated in Brand Transformation For An IPO-Ready Company by 10XValley: Malaysia's 1st IPO-Ready Transformation Platform at The iSPACE, Plaza Vads, TTDI. This is a precious sharing session by Joescher Chee, Strategy Consultant & International Speaker, and the founder of 10XCEOs/10XValley, that have worked with more than 200 brands. 10XCEOs/10XValley was founded in 2017 with the primary aim of creating more businesses that matter to the world and making them a force of good to our communities & countries around the world.
The Group CEO of Chin Hin Group, Chiau Haw Choon, was also invited for a dialogue session. Chin Hin Group is an integrated building materials provider involved in the distribution of building materials and provision of logistics, supply of ready-mixed concrete, and manufacturing of AAC blocks, precast concrete products, wire mesh, and metal roofing systems. As a successful CEO, Chiau Haw Choon shared his experience with the participants on quickly taking his organization to the next level.
We earned a Diamond (learning point) from this session and learned how vital brand character is for a company in generating revenue. A brand is an opportunity for us to share our story with clients - 46% of surveyed consumers say they would pay more for trusted brands, and a consistent brand presentation has increased revenue by 33%. And this is what we called as the power of branding!
The event was very inspiring and motivational. We have learned that there have been around 100 - 1000 entrepreneurs (1:10) IPO in Malaysia for the last 5 years. To succeed in the business, we need to be consistent and disciplined. Thus, we need to be talented to attract talented people around us. This applies not only to work ethic (which is essential) but also to marketing and branding. Nowadays, we must maintain a presence on social media and keep up with current trends so that people know who we are when looking for a product or service like ours.
We also learned that being an entrepreneur is like being a warrior. We must remind ourselves every day to begin the day because we know it will be challenging, but we will come out victorious in the end. The market has more challenges than we have chances to go into it, so it’s up to us how we will overcome those challenges and make our dreams come true. If you're looking for a way out of your day job and into something more entrepreneurial, look around at other successful businesses and see if there's anything they do differently than everyone else (aside from being good at what they do). It could be!
