29.07.2015 in Entrepreneurship, Latest by admin 0

This Month in Entrepreneurship

Entrepreneurship has always been a key component of our success. The ‘Dare to Do’ spirit that is synonymous with Expolanka is not just a tagline – it is a literal expression of our attitude to life. Expolanka’s courage to overcome challenges and grow from strength to strength demonstrates our true spirit as a corporate leader.

In this blog post, we compile stories from around the world which highlights the entrepreneurial spirit that is unique to all Expolankians.

Patrick Linden – The young Singaporean business tycoon

Patrick LindenMany dream of starting a business with a small sum of money and turning it into a million dollar juggernaut. However, not everyone succeeds. Patrick Linden is a young Singaporean who turned his dream into reality by founding the startup

Deal.com.sg. Deal.com.sg is renowned as Southeast Asia’s premier online shopping destination and earns up to $50 million in yearly revenue.

Patrick started his entrepreneurial journey by establishing iHIPO, a startup that functions like a Linkedin for students and undergraduates. It became exceedingly popular and in two and a half years boasted an active membership of 50,000. Right after the exit from his first startup, Patrick and his co-founder, Jan Croeni, noticed a trend that was blazing in the US and Europe. He explains,

“We saw that group buying was developing into a megatrend in the States and Europe. We were convinced that the combination of attractive deals, high discounts and time sensitivity would present a very exciting online shopping experience for Singaporeans.”

With this strong gut feeling Patrick and Jan assembled a few developers and set up the Deal.com.sg website in the span of four weeks. Soon after its launch, investors flocked to it and German Ecommerce specialist Rebates Network became their primary backer. At this time, the site was barely two months old and was operating with just three full timers: the two co- founders and one developer. In its first month, it attracted just 20,000 unique visitors and $7,000 in revenue. However, by the end of its first year, the website was receiving more than a million unique visits and was generating two million dollars in monthly revenue.

Patrick would not have experienced success had he listened to erroneous advice during his founding days. Looking back, he feels that the best advice and understanding of opportunities came from experienced entrepreneurs; others were often less positive and more skeptical. Here’s his advice to young entrepreneurs,

“It is important for you to stay firm to what you believe in. If you need advice, go to the right people who have been there and

done that rather than those who don’t fully grasp the reality of entrepreneurship.”

Nick D’Aloisio – The 17 year old millionaire

nick-d-aloisioOne recent news story that got everyone’s attention was the one about Nick D’Aloisio, the London based 17 year old millionaire. Alosio joined the rank of millionaires by selling his smartphone app Summly to Yahoo for a staggering $30 million.

Nick started using the computer at 9, and began writing apps for smartphones when he was 12. His first ‘success’ was an app called Trimit – an iOS app that would condense long text into a 1000, 500 or 140-character summary. This app caught the eye of internet gurus and Apple highlighted it as one of their feature apps.

D’Aloisio was offered $300,000 in venture capital funding from a Hong Kong-based billionaire for Trimit. He used this money, along with the feedback and criticism, to redesign and essentially rebuild the app from the ground-up, and eventually re-launched it as Summly.

“If you have a good idea, or you think there’s a gap in the market, just go out and launch it because there are investors across the world looking for companies to invest in”, Nick advises young entrepreneurs.

Janna Lam – Courageous entrepreneur who founded IP Mirror

Janna LamEntrepreneurs are ordinary people who dare to dream. They dream outside the box, work harder, plan better and follow through to achieve success. Janna Lam is an Asian entrepreneur who gained fame after founding IP Mirror, a leading Asian company specializing in global domain registration and cloud hosting.

Since Janna was a child, she showed an innate interest in

knowing how things work. She was the kind of girl who would buy parts to assemble her own computer. Janna started IP Mirror with her sister, Tessa. Coming from a poor Chinese family, Janna and Tessa were instilled with valuable principles of being highly independent, hard-working and humble. Janna’s road to success was not a cakewalk. Early in her career she used to sleep for only three or four hours per day.  Her starting capital of $150,000 was borrowed from close relatives and expectations were high. In 2005, after toiling for nine long months, IP Mirror became the first Singaporean company to be accredited by ICANN, the highest level of recognition for registrars.

Janna concludes with this advice to entrepreneurs,

“It is not a bed of roses when you run your own business. After thirteen years, I’m still as hardworking as before. Lead by example, as this will motivate others to do likewise.”

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