The Makings of an Asian Entrepreneur

Paperback: 120 pages

Publisher: Prentice Hall (April 2004)

ISBN-10: 9812446834

ISBN-13: 978-9812446831

Kenny Yap is the executive chairman and managing director of Qian Hu Corporation Ltd, listed on the Singapore Stock Exchange. The family-run fish business is diversified but is most famous for its ornamental fish.

This book proves that a family-run business can be successful if it is well-managed and driven by passion. Kenny mentions the following as the qualities that keep the family business going:

1. Define roles and responsibilities
2. Everyone contributes and works
3. Communicate frequently, both formally and informally
4. Get in-laws out of the picture
5. Passion and drive
6. Passing down of family values and house rules
7. Be strict and firm, yet patient
8. A succession plan that need not include the next generation

Kenny peppers his book with comics and nostalgic photographs. His Chinese sayings give it a truly Asian touch. He mentions about the initial failures and about the balances the business has to make. They include family and work life, profiting and social responsibility, crisis and opportunities embedded in them, the decision to take the business public etc.

He places much importance in

1. Education
2. Networking especially with the government and the community
3. Harnessing the media
4. Being transparent and accountable
5. Giving back to the community

There was much advice given on being an entrepreneur, taking a company public as well as expanding a business abroad. The biggest difference is his opinion on having friends and family in the business. I figure that their success in this is their ability to communicate and work things out.

Finally, Kenny ends off with ‘fishy’ and insightful parallels of business management with different types of ornamental fishes.