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William Chin, Founder of Mummy’s Market

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William Chin set up Mummy’s Market. Mummy’s Market is the uncontested platform connecting parents and retailers in Singapore.

What’s your story?
After National Service, I enjoyed a rousing start to my corporate career with successful stints at events and conventions companies such as IQPC, Hannover Fairs Australia and Lighthouse Independent Media in management roles, building my experience in conventions, trade fairs and events.

However, I hit a particularly bad streak of unemployment after that, facing difficulty finding jobs because according to recruiters, I was overqualified, yet too young. In fact, at one point I was struggling so badly with my family loans that I was sharing bowls of ramen with my girlfriend for our meals, to save costs.

My financial pressures eventually culminated in my forced venture into entrepreneurship where I had to strike out my own path with a brief stint in Expomal. However, this turned out to be my next break that fuelled my current success. It was there I built up Smartkids (another wildly successful baby and child fair) before it was bought out by a bigger company. Inspired by SmartKids, I started Mummy’s Market and eventually Baby’s Market, outperforming established names in the business to take its current place as market leader.

What excites you most about your industry?
Mummy’s Market is the industry leader in baby, kids, maternity and household with 80% market share and our clients – coupled with branding, advertising and exhibiting on Mummy’s Market platforms, we are seeing a 30-60% company growth year on year despite the downturn in the economy. With attendance of over 100k consumers per fair and serving 70-80% of pregnant mums, our actual business is in data, data collection and processing from consumer fairs.

I am excited about how big data analytics from Mummy’s Market can be applied at every stage of the retail process such as data segmentation – for retailers now when mums are giving birth to sending relevant content over. This will transform and innovate the industry of baby fairs and Mummy’s Market, with the huge amount of data we process from our fairs yearly, is the forerunner in this disruption. With this, we have transformed the DNA of how digital business has always been done. Global online marketplaces are burning cash quickly to achieve big data analytics, but not us.

Another testament to Mummy’s Market’s popularity is that huge marketplaces have been trying to pass off as Mummy’s Market. It shows that we are heading in the right direction and the most exciting part is, we are only at 10% of where we want to be – a platform where $1 billion gross market value products are transacted annually around Asia in a niche market.

What’s your connection to Asia?
I was born and bred in Singapore, and intend to stay in Singapore to build the Mummy’s Market brand.

Favourite city in Asia for business and why?
Singapore – if one can strategically become a leader in a small market like Singapore, its grounds to show that one’s business has an opportunity to grow further in larger countries.

What’s the best piece of advice you ever received?
“It is easy to become number 1 because the others can just copy and tweak to overtake you.
It is more difficult to STAY number 1, because you have no one to copy. You have to innovate.”

Who inspires you?
Steve Jobs – he transformed the digital age. Without the invention of smartphones, mobile computing and mobile advertising would never have grown. He changed the way businesses and consumers communicate. Without the introduction of iPhones, mobile applications would have never existed the way we are using them today.

What have you just learnt recently that blew you away?
You no longer have to lick stamps to make it sticky.

If you had your time again, what would you do differently?
Nothing. I love my life and my family. And I love the platform Mummy’s Market has created to help businesses grow.

How do you unwind?
I play with my little 1 year old baby girl.

Favourite Asian destination for relaxation? Why?
Taiwan – cool weather with beautiful mountains and lake scenery.

Everyone in business should read this book:
7 Habits of Highly Effective People – Stephen Covey

Shameless plug for your business:
Mummy’s Market has established its reputation as not just Singapore’s but Southeast Asia’s largest baby fair:

  • Nearly S$100 million gross merchandise volume transacted on Mummy’s Market platforms annually
  • 800,000 visitors at its fairs yearly
  • 80% of all of Singapore’s baby product distributors in one convention
  • 15-20% year on year increase in sales volume at every baby fair since its inception

Apart from market dominance, Mummy’s Market also has the largest database of parents and the number 1 platform for MNCs and SMEs to reach out to this audience. From exhibitions, magazines, seminars to digital campaigns and roadshows. Mummy’s Market is the uncontested platform connecting parents and retailers in Singapore.

How can people connect with you?
[email protected]
https://www.linkedin.com/in/william-chin-23910a9/

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

Callum Connects

Jace Koh, Founder of U Ventures

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Jace Koh believes cash flow is the lifeblood of your business. Understanding it will enhance your ability to run and manage your business.

What’s your story?
My name is Jace Koh and I am the Founder of U Ventures. I’ve always been inclined towards investment and entrepreneurship. I’ve played a hand in starting businesses across these industries – professional services, cloud integration, software and music. I believe that succeeding in business is tough, but that’s what makes the rewards even sweeter.

What excites you most about your industry?
Everything excites me. These are my beliefs:

  • Why is accounting important?
    The accounting department is the heart. Cash flow is like blood stream, it pumps blood to various parts of the body like cash flow is pumped to various departments and/or functions in a business. It is vital to the life and death of the business.
  • Is accounting boring?
    Accountants are artists too. They paint the numbers the way they want them to be.
  • What makes a good accountant?
    A good accountant can tell you a story about the business by looking at the numbers.
  • Why is budgeting and projection important?
    Accountants are like fortune tellers, they can predict the numbers and if you wish to understand your business and make informed decisions, feel free to speak to our friendly consultants to secure a meeting.

What’s your connection to Asia?
I was born and raised in Singapore, and here’s where I want to be.

Favourite city in Asia for business and why?
Singapore is my favourite city. We have great legal systems in place, good security and people with integrity. Most importantly, we have a government that fosters a good environment for doing business. I recently went for a cultural exchange programme in Hong Kong to learn more about their startups. I found out that the Hong Kong government generally only supports local business owners in terms of grants. They’ve recently been more lenient and changed the eligibility to include all businesses that have at least 50% local shareholding. But comparing that to Singapore, the government only requires a 30% local shareholding to obtain government support. In the early days of starting a business, all the support you can get is precious. It’s great that we have a government that understands that.

What’s the best piece of advice you ever received?
The best time ever to plant a tree was 10 years ago as the tree would have grown so big to provide you with shelter and all. When is the next best time to plant a tree? It is today. Because in 10 years time, the tree would have grown big enough to provide you shelter and all.

Who inspires you?
Jack Ma. His journey to success is one of the most inspiring as it proves that with determination and great foresight, even the poorest can turn their lives around. I personally relate to his story a lot, and this is my favourite quote from him, “If you don’t give up, you still have a chance. Giving up is the greatest failure.”

What have you just learnt recently that blew you away?
I’ve faced multiple rejections throughout my business journey, and recently came across a fact on Jack Ma about how he was once rejected for 32 different jobs. It resonated very deeply and taught me the importance of tenacity, especially during tough times.

If you had your time again, what would you do differently?
Nothing. I live a life with no regrets. Everything I do, regardless of whether it is right or wrong, happy or sad, and regardless of outcome, it’s a lesson with something to take away.

How do you unwind?
I love to pamper myself through retail therapy and going for spas. I also make a conscious effort to take time off work to have a break outside to unwind as well as to uncloud my mind. This moment of reflection from time to time helps me see more clearly on how I can improve myself.

Favourite Asian destination for relaxation? Why?
Taiwan! Good food with no language barriers and the people are great!

Everyone in business should read this book:
I don’t really read books. Mostly, I learn from my daily life and interactions with hundreds of other business owners. To me, people tell the most interesting stories.

Shameless plug for your business:
We’re not just corporate secretaries, we’re “business doctors.”
U Ventures is a Xero certified advisory firm that goes beyond traditional accounting services to provide solutions for your business. You can reach us on our website: http://uventures.com.sg/

How can people connect with you?
Converse to connect. You can reach me via email at [email protected] or alternatively, on LinkedIn here: https://www.linkedin.com/in/jacekoh/

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

Ray Ferguson, Founder of Caber Partners

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Ray Ferguson left the banking world and returned to Asia to explore exciting fintech opportunities.

What’s your story?
I am the Founder of Caber Partners, a Singapore based MAS Licensed Fund Manager and Financial Advisor investing and working with companies focused exclusively on the intersection of finance and technology. I work specifically in the areas of payments, insurance, wealth management, alternative lending and blockchain.

I am also Chairman of Singapore Life which was founded last year. It is the first new local life company in Singapore. Concurrently, I chair Youtap a business which is creating a cashless e-money processing backbone providing real-time interoperable settlements of all consumer e-money payments to the merchants, e-money providers, retail and FMCG distribution groups, and banks across emerging markets.

My 30 year journey as a banker had its main leg with Standard Chartered Bank, where I held multiple country chief executive and regional leadership roles across four continents. I spent 6 years as Regional CEO, South East Asia and Chief Executive, Singapore. After Standard Chartered, I moved to Bank ABC, Bahrain and assumed the role of Group Chief Banking Officer where I took care of the group’s banking businesses worldwide.
Last year, I decided to step down after 3 years from my role with Bank ABC to return to Asia to pursue interesting and exciting opportunities that fintech disruption was providing.

What excites you most about your industry?
The sheer pace of technological innovation in the financial sector, and how it is up-ending the traditional models and traditional players. There are huge implications and benefits for efficiency, transparency and importantly financial inclusion which will drive growth in emerging markets.

What’s your connection to Asia?
I have lived in and worked in Asia for more than 30 years. I first came to Singapore in 1994 and today I am a proud Singapore citizen, and to me Singapore is home.

Its an invigorating environment. Asia is in the middle of an historic transformation. If it continues to follow its recent trajectory, by 2050 its per capita income could rise sixfold in purchasing power parity (PPP) terms to reach Europe’s levels today. It would make some 3 billion additional Asians affluent by current standards. By nearly doubling its share of global gross domestic product (GDP) to 52 percent by 2050, Asia would regain the dominant economic position it held some 300 years ago, before the industrial revolution. This is a big deal and I’m excited to be part of it!

Favourite city in Asia for business and why?
Definitely Singapore! Singapore is known for being a business-friendly country and it was crowned the best country in World Bank’s “Ease of Doing Business List” and ranks as the top 3 in the World Economic Forum’s “Global Competitive Index.” Singapore is an attractive hub, for both businesses and has a great community to live in.

What’s the best piece of advice you ever received?
Listen intently and you will know what you don’t know.

Who inspires you?
Nelson Mandela

What have you just learnt recently that blew you away?
That the global mobile wallet market was valued at approximately USD 594 billion in 2016 and is expected to reach approximately USD 3,100 billion by 2022, growing at a CAGR of around 32% between 2017 and 2022.

If you had your time again, what would you do differently?
I would have learnt to code.

How do you unwind?
Exercise, golf and sailing large catamarans.

Favourite Asian destination for relaxation? Why?
Phuket. Easy to reach, Thai people and service, breadth of choice of locations/accomodation and great sailing weather.

Everyone in business should read this book:
Good to Great – Jim Collins. It’s about how companies transition from being good companies to great companies, and how and why most companies fail to make the transition.

Shameless plug for your business:
Caber Partners team is uniquely connected with our networks and experience in fintech markets, investing and banking and business growth solutions throughout Asia and across the emerging world.

How can people connect with you?
Come connect with me through my LinkedIn at https://www.linkedin.com/in/rayfergusonscb

Twitter handle?
Rayferguson888

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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