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Terence Toh, Co-Founder of Payboy

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Terence Toh

Terence Toh and Payboy are disrupting HR systems with intuitive, user friendly tech.

What’s your story?
Growing up, we were always asked what we wanted to be. When I was 7, I wanted to be a policeman. When I was 14, I wanted to be a basketballer. When I was 17, I wanted to be a veterinarian. I couldn’t figure out what I wanted to do with my life. Then, at 23, midway through my degree, I bumped into an old friend. That encounter changed everything. We started a string of festive businesses; sold flowers during valentine’s day, dumplings during dragon boat festivals and much more. That’s when my love for entrepreneurship began.
As we discussed what our next big business idea could be, we found a gap in existing HR solutions for businesses. Many of the HR systems implemented in companies were insanely difficult to navigate and use without prior training. These HR management systems were not designed for employees. Ease of use was clearly not a key design feature they considered in their software. That’s when we started Payboy, aimed at creating the most user-friendly HR solution for businesses.

What excites you most about your industry?
It’s exciting to see the exponential growth of technology and how it helps makes our lives easier. We see back-office solutions surfacing rapidly and I believe that automation of human resource management is the next big thing.

What’s your connection to Asia?
I was born and raised in sunny Singapore.

NATAS STB Tech fair

Favourite city in Asia for business and why?
Singapore remains one of the easiest countries (2nd) in the world to start a business due to high levels of efficiency. Also, there is an abundance of fully-funded government schemes, access to venture capitalists, investors, accelerator and incubator programs to aid new venture creations. This is the best place and time to be an entrepreneur, in my opinion.

What’s the best piece of advice you ever received?
“It does not matter how slow you go, so long as you don’t stop.” – Confucius.

Who inspires you?
Mark Cuban. I don’t think he needs any introduction.

What have you just learnt recently that blew you away?
Technology is advancing rapidly and if we are not quick enough to adapt and change, we will be made redundant.

If you had your time again, what would you do differently?
I would not be as naïve and procrastinate so much. Also, I would have made smarter decisions.

How do you unwind?
Usually when I have a lot on my mind, I go for a long run or swim laps. Exercising helps me to focus and think better. It also to helps me lose weight and stay fit!

Favourite Asian destination for relaxation? Why?
Taipei, Taiwan. I love that place. The people are nice, the scenery is incredibly beautiful, food is also cheap and delicious.

Everyone in business should read this book:
Rework is an amazing book I think all business owners should read. It’s straight to the point, edgy yet simple. Most importantly, it challenges you to rethink the strategies you thought you knew. It delivers philosophies like “Planning is guessing”, “Start a business, not a start-up”, “Who cares what they are doing” and “Meetings are toxic”. Also, I can relate to the authors, Jason Fried and Heinemeier Hansson because both our companies are in the technology industry.

Shameless plug for your business:
Payboy is a cloud-based human resource management system. Our objective is to be an eco-system for all HR-related matters from administrative duties all the way up to policy making. We aim to disrupt traditional HR processes by making it efficient, user-friendly and affordable for businesses. We are focused on designing the most simple payroll software out there. Using the same analogy that no one reads a user manual before using their newly procured iPhone or Samsung. Emphasizing on discoverability learning.

Sharing Session in NP

How can people connect with you?
LinkedIn: https://www.linkedin.com/in/terence-toh-833948100/
Facebook: https://www.facebook.com/TerenceJunZhi
Email: [email protected]

Twitter handle?
Facebook, Twitter, LinkedIn, Payboy Blog

This interview was part of the Callum Connect’s column found on The Asian Entrepreneur:

CallumConnectsCallum Laing invests and buys small businesses in a range of industries around Asia. He has previously started, built and sold half a dozen businesses and is the founder & owner of Fitness-Buffet a company delivering employee wellness solutions in 12 countries. He is a Director of, amongst others, Key Person of Influence. A 40 week training program for business owners and executives.

Take the ‘Key Person of Influence’ scorecard <http://www.keypersonofinfluence.com/scorecard/>

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Get his free ‘Asia Snapshot’ report from www.callumlaing.com

Callum Connects

Marek Danyluk, CEO of Space Ventures

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Marek Danyluk has a talent for assessing the competencies of management teams for other businesses and pulling together exceptional teams for his own businesses!

What’s your story?
I am the CEO of a venture capital business, Space Ventures, which invests in seed and pre-series A businesses. I also own and run Space Executive, a recruitment business focused on senior to executive hires across sales, marketing, finance, legal and change.

My career started as a trainee underwriter in the Lloyds market but quickly moved into recruitment where I set-up my first business in 2002. The business grew to around 100 people. I moved to Asia in 2009 as a board member of a multinational recruitment business with the mandate to help them scale their Asian entities, which helped contribute to their sale this year, in 2017.

My main talent is assessing the competencies of management teams as well as building high performing recruitment boutiques and putting together exceptional management teams for my own businesses.

What excites you most about your industry?
Building the business is very much about attracting the best talent and being able to build a culture which people find invigorating and unique. It’s an exciting proposition to be able to define a culture in that regard and salespeople are a fun bunch, so when you get it right it’s tremendous.

From a VC point of view there is just so much happening. South East Asia is a melting pot of innovation so the ideas and quality of people you have exposure to, is truly phenomenal. The exposure in the VC has taken me away from a career in recruitment. Doing something completely different has given me a new level of focus.

What’s your connection to Asia?
Whilst I came here with work, both my boys were born in Singapore and to them this very much is home. That said, my father in law spent many years in the East so coming and settling here was met with a good degree of support and familiarity.


Favourite city in Asia for business and why?
Possibly Hong Kong. It’s the closest I’ve been to working in London. Whilst there are massive Asian influences people will work with you on the basis you are good at what you do and work hard. I find that approach very honest and straightforward.

What’s the best piece of advice you ever received?
“Always treat people well on the way up!”

Who inspires you?
I like reading about people who have excelled in business such as Jack Ma, James Kahn, Phil Knight, Sir Richard Branson, Elon Musk, all have great stories to tell and they are all inspirational. No-one has inspired me more than my parents and they are well aware as to why…

What have you just learnt recently that blew you away?
Pretty much any technology innovation blows me away.

If you had your time again, what would you do differently?
Whilst it is important not to have regrets I do continually wake up thinking I’m still doing my A’ Levels. So, I’d have probably tried a little harder in 6th form.

How do you unwind?
I like the odd glass of red wine and watching sport

Favourite Asian destination for relaxation? Why?
Japan skiing. I love skiing and Japanese food and it’s a time when I can really enjoy time with the wife and kids. I recently tried the Margaret River which was divine, although not technically Asia.

Everyone in business should read this book:
Barbarians at the Gate

Shameless plug for your business:
Space Executive is the fastest growing recruitment business in Singapore focused on the mid to senior market across legal, compliance, finance, sales and marketing and change and transformation. Multi-award winning with exceptional growth plans into Hong Kong and London this year, and the US, Japan and Europe by the end of 2022. We are building a truly global brand.

Space Ventures is interested in any businesses that require capital or management and financial guidance or any or all of the above. We have, to date, invested in on-line training, food and beverages, peer to peer lending platforms, credit scoring as well as other tech and fintech start-ups. We are always interested in hearing about potential deals.

How can people connect with you?
[email protected]

Twitter handle?
@Spaceexecutive

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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Callum Connects

Malcolm Tan, Founder of Gravitas Holdings

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Malcolm Tan is an ICO/ITO and Cryptocurrency advisor. He sees this new era as similar to when the internet launched.

What’s your story?
I’m a lawyer entrepreneur who owns multiple businesses, and who is now stepping into the Initial Coin Offering/Initial Token Offering/Cryptocurrency space to be a thought leader, writer (How to ICO/ITO in Singapore – A Regulatory and Compliance Viewpoint on Initial Coin Offering and Initial Token Offering in Singapore), and advisor through Gravitas Holdings – an ICO Advisory company. We are also running our own ICO campaign called AEXON, and advising 2 other ICO’s on their projects.

What excites you most about your industry?
It is the start of a whole new paradigm, and it is like being at the start of the internet era all over again. We have a chance to influence and shape the industry over the next decade and beyond and lead the paradigm shift.

What’s your connection to Asia?
I’m Singaporean and most of my business revolves around the ASEAN region. Our new ICO advisory company specialises in Singaporean ICO’s and we are now building partnerships around the region as well. One of the core business offerings of our AEXON ICO/ITO is to open up co-working spaces around the region, with a target to open 25 outlets, and perhaps more thereafter.

Favourite city in Asia for business and why?
Singapore, since it is my hometown and most of my business contacts originate from or are located in Singapore. It is also a very open and easy place to do business.

What’s the best piece of advice you ever received?
Be careful of your clients – sometimes they can be your worst enemies. This is very true and you have to always be careful about whom you deal with. The closest people are the ones that you trust and sometimes they have other agendas or simply don’t tell you the truth or whole story and that can easily put one in a very disadvantageous position.

Who inspires you?
Leonardo Da Vinci as a polymath and genius and leader in many fields, and in today’s world, Elon Musk for being a polymath and risk taker and energetic business leader.

What have you just learnt recently that blew you away?
Early stage bitcoin investors would have made 1,000,000 times profit if they had held onto their bitcoins from the start to today – in the short space of 7 years.

If you had your time again, what would you do differently?
Seek out good partnerships and networks from day one, and use the power of the group to grow and do things together, instead of being bogged down by operations and going it alone from start.

How do you unwind?
I hardly have any time for relaxation right now. I used to have very intense hobbies, chess when I was younger, bridge, bowling, some online real time strategy games and poker. All mentally stimulating games and requiring focus – I did all these at competitive levels and participated in national and international tournaments, winning multiple trophies, medals and awards in most of these fields.

Favourite Asian destination for relaxation? Why?
Phuket – nature, resort life, beaches, good food and a vibrant crowd.

Everyone in business should read this book:
Rich Dad Poor Dad by Richard Kiyosaki

Shameless plug for your business:
Gravitas Holdings (Pte) Limited is the premier ICO Advisory company and we can do a full service for entrepreneurs, including legal and compliance, smart contracts and token creation, marketing and PR, and business advisory and white paper writing/planning.

How can people connect with you?
Write emails to [email protected], or [email protected]

Twitter handle?
@malcolmABM

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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