A Canadian of Indian
roots found a way to express himself through business ventures as much as art. A
man of Iranian origin founded and helped other start-ups in Australia. A
British entrepreneur settled in Vietnam as the national director of a MNC. Representing
three major regions for entrepreneurship – North America, Oceania and Asia, they
take a moment to reflect on their journeys.
The first man steered
Voodoo PC, a company co-founded with his brother, from a niche player to a
global high-end brand which was eventually acquired by HP in 2006. During his
tenure as CEO of Voodoo PC, Ravi Sood also earned the “Entrepreneur of the
Year” and “Exporter of the Year” awards by two banks in Canada.
Seeing the Internet’s
potential back in 1995, R (who wishes to remain anonymous) set up his own online research firm www.consult in
Australia, which was integrated into ACNielsen following an acquisition deal in
2000. He now sits on several boards of funding and investment companies helping
entrepreneurs.
Rick Yvanovich, a
British national, was the 32nd foreigner granted living and working
rights in Vietnam back in 1990 as the country opened up after the war. He is a
serial entrepreneur and now managing two of his most successful IT consulting
ventures, with a client base of around 70 countries.
Formal assessments of business environment
The World Economic
Forum (WEF) released a report on entrepreneurial ecosystem in January this
year. Entrepreneurs around the globe rated the “eight pillars” making up such
ecosystems in their regions and not surprisingly, places such as North America
were considered more conducive to setting up new ventures, followed by
Australia/New Zealand and Asia.
A separate study from
the same source lets us see how countries stack up against each other in terms
of competitiveness. Following the same logic, the rankings of the countries in
question are: Canada at 14th, Australia at 21st and
Vietnam at 70th.
Whilst these rankings
tell one story, our three entrepreneurs may have something different to say.
The man who combines art and business in Canada
“If that new venture
is going to be in the energy or resource sector, Canada is a great place to
be”, Ravi Sood says, highlighting the fact that like Russia, Canada is a
resource economy which makes it hard for entrepreneurs in other industries. Meanwhile,
in many countries where wealth does not simply come from “digging”, people are
“forced to innovate”. That said, Ravi has managed three successful ventures in
Canada with his business philosophy of being disruptive.
Raised as the second
generation of immigrants from India, the Canadian entrepreneur is an artist at
heart. The typical Asian family’s push for business, coupled with Ravi’s uncle
who urged him to learn accounting, got the artist into strange territories of numbers,
or the maths behind businesses. He struggled at first in accounting but was
mentored by an instructor/hockey coach who was able to clear the “clouds always
hanging over” his head.
Citing Steve Jobs as
his idol, Ravi emphasises the importance of controlling creativity as a process
from beginning to end: “Group thinking will kill creativity and innovation.” Ravi
who often does strategy brainstorming on a wooden easel, highly values creative
skillsets. “If I was to weigh a strong academic sense vs. strong creative
sense, I would want my kids to be stronger on the creative side. Because
everything is so competitive, especially with emerging economies."
And he wants to head
exactly towards the heat. When asked where his next venture or adventure would
be, Ravi mentions Hong Kong and China: “Emerging economies and big vibrant
cities where there is capital and there is risk taking and there are people
working around the clock.”
Asia as the new home of British entrepreneur
After coming to
Vietnam as part of the job with BP, Rick Yvanovich decided to stay and became
one of the earliest foreign entrepreneurs in the country. While it may not be
so high on the global ranking system, Vietnam was the headquarters of Rick’s
five notable ventures, not to mention a whole bunch of smaller ones.
“Entrepreneur culture
is strong in Vietnam and the infrastructure to support it is growing quickly.
It’s not the best but it’s not the worst and there is no reason why Vietnam
can’t end up being one of the best places,” he says. Like many other nations in
Asia, one of the downsides of Vietnam’s entrepreneurial ecosystem is the
regulations and red tape, which can be “enough to put a lot of people off”.
Now leading his main
venture - TRG International, a business IT consulting firm - Rick encourages
innovation through incremental changes: “I follow Kaizen for constant never-ending
improvement of the business and also of self.” He would have Innovative awards
for staff, encourage a book club within the company and collect employee input
for new ideas or projects.
The father of two
also regards helping others as his business as well as life philosophy: “Pay it
forward, always be giving as what goes around comes around, so do not wait to
reciprocate, just go ahead and do it.”
Australian businessman thinks it’s time to give back
Sharing the “helping
others” tenet is R, who refuses to be called an entrepreneur. After moving from
Iran to Italy, France and finally the Down Under, he founded and sold two businesses.
Since then, R has been investing in more than a dozen start-ups.
“The external
environment in Australia is extremely conducive to setting up businesses,” R
says, adding the debate about what can be done to improve the entrepreneurial
ecosystem here is “misdirected” because the Silicon Valley cannot be replicated
anywhere else.
As the man who sits
on a range of investment boards, R points out the main difference between
Australia and places such as the US being there are more angel investors and
less venture capital in the former.
At the age of 50, he
thinks it is the time to help start-ups financially and give guidance. The
number one advice he would give to entrepreneurs is: “You need to know it is
for you. If someone doesn’t feel extremely passionate, enough to drop
everything else they’re doing, they shouldn’t do it. Secondly, you should know
what your use-by date is.”
The formula of
success to him is one-third “innovation”, one-third “management”, and the last
piece shared between luck and other factors. As much as he is regarded as the
web/Internet guru, R thinks “being a father” is the achievement he is most proud
of. “It’s a completely different world to what I thought it would be.”
Location is good, passion is indispensable
These entrepreneurs
are either first or second generation immigrants who built and steered their
businesses in three different economic regions. At the end of the day, it is
the burning fire inside that gets you started and going. Entrepreneurship is
not just about setting up a small company like others, it is about being
innovative and disruptive, as the great economic Joseph Schumpeter would say.
So have you got “the dream and will to found a private kingdom”?