3 business leaders in Singapore share their tips on becoming a successful entrepreneur
What makes a successful entrepreneur? How do you run a business effectively? We hear from Ron Sim, founder of Osim, Ho Kwon Ping, founder of Banyan Tree and Jamie Lim, CEO of Scanteak.
Ron Sim, founder of Osim, Jamie Lim, CEO of Scanteak and Ho Kwon Ping, founder of Banyan Tree. (Photos: CNA/Aik Chen, Kelvin Chia)
Building a company from the ground-up is an arduous task. It requires hard work, resilience and plenty of sacrifices along the way.
In a special series, CNA Luxury featured three successful Singapore businesses that have made their mark on the international stage. Massage chair empire Osim was founded by Ron Sim in 1979. Today, Sim is building a spectrum of scalable Singapore-owned brands in the affordable luxury gourmet sector. These include TWG Tea, Bacha Coffee and more.
Ho Kwon Ping is one of Singapore’s most well-known hotel tycoons, having founded independent hospitality company, Banyan Tree Group. Banyan Tree has opened a total of 70 properties and counting, located all around the world.
Just as important as building a successful company is ensuring its continuity to the next generation. Oftentimes, this is a challenging endeavour. We hear the perspective of second-generation CEO Jamie Lim, who now leads Scanteak, the furniture company started by her father. Ron Sim, Ho Kwon Ping and Jamie Lim share their key advice for entrepreneurs in a video below:
What makes a successful entrepreneur? How do you lead a team effectively? We hear from Ron Sim, founder of Osim, Ho Kwon Ping, founder of Banyan Tree and Jamie Lim, CEO of Scanteak.
RON SIM ON DEFINING SUCCESS
“Success cannot just be about money. I think achieving monetary achievement is important, because that’s what drives you, realistically. But I think building a legacy is equally important.”
HO KWON PING ON LEADERSHIP
“If you give orders to people, they will follow you, that’s fine. You can get things done. But if you inspire people to believe in what you’re doing, so that even when you’re no longer there, they’ll do it on their own accord, that, I think, is true leadership.”
JAMIE LIM ON ADVICE FOR THE NEXT GENERATION
“While [the second generation] brings trouble and we stir the pot, I believe iron sharpens iron and together, we just bring stronger synergy into bettering the business. Take the experience your parents had because you are in the business, I’m sure, because it’s successful. But then, reinterpret that, reinvent yourself with it.”
