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AI
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Qian Hu
-Kenny Yap e Entrepreneur-
Clinston
Overview
Setting up a business
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About Qian Hu
Qian Hu’s Business Culture
About Kenny Yap
Business Plan
Finance or Funding a Business
Areas that need to prepare
About Qian Hu
Qian Hu is an integrated
ornamental fish service
provider.
Its services includes
breeding, farming,
importing, exporting and
distributing of ornamental
fish as well as
manufacturing of aquarium
and pet accessories. Its
cliental includes local and
overseas.
Qian Hu’s Culture
• A positive, supportive, fair environment
• Contributing staff are rewarded
• Staff who do not contribute are penalized
• Regular chill-out sessions
• Job enlargement and rotation
• Training
About Kenny Yap
• Also known as "Kenny the Fish".
• The current executive chairman of Qian Hu Corporation.
• Won numerous awards and commendations among which
includes Singapore Youth Award for Entrepreneurship (1998),
Spring Singapore's International Management Action Award
(2000) and the Ernst & Young Services Entrepreneur Award
(2003).
• Graduated from Ohio State University with a 1st Class Honors
degree in Business Administration.
Insights of the Inside
Don't contribute, don't receive
His family instill the value of if one did not contribute, one
should not receive.
Three important pointers
1) Don't be greedy - One cant get rich overnight.
2) Diversify learner - One must keep on learning in various
areas.
3) Differentiating factor - In terms of product, certification,
customized solution, comparative advantage, culture, touch
love (contribution), concept of distribution (based on the
need)
Insights of the Inside
House Rules
Since Qian Hu was a family business, predominantly every family
will have its own set of rules.
• All sister in laws no involvement
• No politics
• Have interest in fish (Business Interest)
Attitude is key
• Sincere, be yourself
• Encourage
• Wisdom accumulate from experience
Insights of the Inside
Communication to build culture
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Print out a card, to pass them to the new peers
Place them at strategic locations
Anonymous box to seek feedback
Monthly meetings both informal and formal
– Informal meetings – catering of food and beer
Insights of the Inside
Innovation
• Often misinterpreted to be related to R&D. Innovation can be
applied to processes as well, areas such as productivity and
efficiency could be further improved.
– Ie intelligent customer service phone hotline
• Mr Yap mentioned that continuous research and
development (R&D) and innovation are key survival factors.
– Developed a new range of revolutionary aquarium
accessories and is exploring new form of ornamental fish
farming technology to meet the changing demand in the
ornamental fish market.
Main Entrepreneur Traits
Focus
• He mentioned the necessity of being focus in business, "focus
on what we are good in" .
• It should not operate the business by diversifying, one should
remain focus.
• When asked whether there is a future of diversifying his
business in other areas, he mentioned that the focus of his
business would be in the fish business.
Main Entrepreneur Traits
Open-minded
• He mentioned of his "open door policy" to allow people to
communicate or feedback to him.
• He ensure that there are both a formal and informal meeting.
- The informal meeting is usually the fruitful one, as he
would get his staff drunk in order to receive honest
feedback.
• The attitude of having an open-mind is important, one should
keep on improving himself.
Reflection
Components That Sustain
Businesses
Unique Ideas
Profitable
Business
Model
Management
Team
Critical Areas That Drives
Businesses
Resources
Strategies
Leadership
The 4 Ps
Passion - It is the eternal drive or motivation.
Purpose - There is a goal in every business, the short and the
long term goal. Every achieved milestones will enable one to
reach its goals.
Performance - Purpose always drive performance.
Profitability - It is the bottom-line for every businesses.
Three Areas of Pitfalls
1) Relationship decisions,
2) Roles decisions,
3) Rewards decisions
Anticipate long term issues, to solve them in these areas
We knew that we were small fish.
Small fish have to swim together
to survive. Without my four
brothers and two cousins, I don’t
think there would be a Kenny
Yap."
— Kenny Yap
QnA