Siong Yoong's Top 10 Business Tips from 2023 (Part 1)

1. The key to success in business is to have NO plan B. If you have even the slightest doubt about doing business, you are already halfway to failure.

2. The only way to build a B2B business is to build and celebrate relationships. Marketing and social media are all very important. But nothing builds a B2B business like the personal touch and relationships.

3. In B2B, high-end is not a product, it’s an experience. Your clients don’t just want a product, they want an experience. One of professionalism, trust, and seamless execution.

4. The secret to pricing. Do not focus on what you are selling. Focus on what people are buying.

5. Draw a straight line between your advice and your results. There’s a reason why Steve Jobs criticized consultants. Be an entrepreneur before you can advise others on doing business.

6. The problem with the start is the stop. Fear of failure and judgement don’t let people start.? Never give in to your fears. The only thing that gives you courage is your ability to control your fears.

7. Popularity is the fastest way to failure in leadership. It's more important to do the right thing than to do things right.

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8. In fundraising, the narrative is as important as the numbers. Your business does not derive value from its numbers, but from the narratives you weave around those numbers.

9. The best is yet to be. You need training to become good at business. There are two ways, learn from your own mistakes or your mentor’s experiences.

10. No investor wants to fund an entrepreneur's school fees. As an entrepreneur, you need to learn your skill sets before you ask your investors for money.