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Lauren Li of 1st Link International
Ms Lauren Li is the CEO of 1st link international, a business intelligence firm which assists companies to build successful businesses in China. Within three years, the company has expanded to having 3 divisions, 4 international offices and a vast business intelligence network in China.
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 Please describe your business.
1st Link International is a China business intelligence firm, which provides a whole suite of services, which allows a company to sit back and relax while we set up the company for them in China. We also have two other divisions, a publishing division named Inspire Publishing, and a division in charge of holding conferences and seminars.
What made you embark on this venture choice?
I was really interested in this venture and at that time, I felt there was demand for these services.
How does your business work?
We survey the market to see who the major players are, if there is a ready market, with whom the Singapore companies should partner, and arrange for the former to meet up with government officials, important individuals or Chinese companies. We also take care of all the Singapore companies' licensing needs, check on the background of their business partners and conduct translation work. We offer an entire suite of services; we are a "one-stop shop". For Inspire Publishing, we have published a title "Who's Who in China" which to date, no other companies have done something similar. Furthermore, we are in the course of co-publishing a series of investment guides and directories together with the China Council for the Promotion of International Trade and Commerce (CCPITC), which is the equivalence of IE Singapore. On the conference side, we have a division organizing high level China topical conferences, which are categorized by sector and topical interests. We organize conferences to help CEOs in Singapore understand the issues and pitfalls when working in China.
Did you have the capital to start the business or did you have to borrow from someone to get started?
Yes I did. However, when we first started out, we were a very small outfit so we did not need much capital. Besides, we reinvested the funds from the projects that we do, so we did not need to look for investors.
Do your parents have their own businesses too? Have they inspired you in one way or another?
My father is a businessman and my mother is a housewife. They have not really influenced me. My mum used to be a lawyer in Taiwan. She had a law degree and was very brilliant, but she decided that bringing up the family was a more important priority. I feel that it is a good thing that my parents have always given me the freedom to do whatever I want to do. They do not impose their dreams on me, unlike some parents who would insist that their children actualize the dreams which the parents have failed to fulfill. My parents have not really affected me or force me to do anything. My father is in the trading business. His business connections do not really help me because his company is trading in petrol-chemical products, so our fields are quite different. However, he gives really good advice!
What was your childhood dream? When did you decide that you would strike out on your own instead of working for someone else?
I did not really have a childhood dream. But when I attended Secondary school, I decided that I would have to become a lawyer and nothing else, and I achieved that. Subsequently, I belatedly discovered that it was not my cup of tea. Actually back then, I had a job offer, in Hong Kong, in one of the international law firms. However, due to the September 11 incident, the offer did not materialize. Thus I decided to start my own business.
Why does someone decide to be on their own rather than join an existing company?
Speaking for myself, after working for a few years, I decided that being a lawyer was not for me. Maybe I was restless with my existing job then. Thus I left my position and looked for something else to do. I decided that I could either take up another job or set up a business which I was really interested in and be no longer bored or restless in a regular job.
Are there at any point in your life that you experienced a significant event (WW2, racial riots of the 1960s, the Economic Crisis of the 80s or 90s, SARS, new competition or shifts in market behaviour and trends) which affected or influenced you and your business that made you change the way you think and do your business?
There was no particular significant event or catastrophe, but I do think that the decision to venture into publishing and conference actually supports our core business. So these two new offshoots are very significant developments in the entire line of what we are doing, so we find that it is really whether to diversify or grow adjacent businesses to what we are doing, to actually not stray too far from our core competences and still add all round value to our clients. For bird flu, it did not really affect my business, but SARS did have a negative but temporary impact on our business for about 6 months. Of course, business was slow and our projects were either stopped or delayed. But thereafter, everything went back to normal and there was no other impact.
What are some of the challenges in starting a business from scratch? (Modify question to what are some of the challenges in maintaining a family business if applicable.)
I think my main difficulty is finding good people. It is really about finding talented people. That is my biggest challenge. We recruited our staff through the normal channels. Every staff starts on a clean slate. By trial and error, I realized that there are many good people out there in the market, but they are not necessarily suitable for the job. Likewise there are also suitable people who may not be the best for the position. So when we do find people who are excellent, I would usually want them to be a partner with a stake in the company.
Who/What motivates you?
Actually, strangely nobody motivates me. I do not believe in the method of mentoring and visualization. I believe everyone will find their own way, a path to their future. For me, I did not have a mentor because firstly, I was not looking for one; secondly, I had previously always wanted to be a lawyer, so it was just a matter of where I would want to work and what I would like to do. And I achieved my aim. Having said that, my situation may not be applicable for everyone. Many people emulate their role models and it is beneficial for them. It is just that role modeling does not work for me. Also, I don't think I am a role model for others. Who am I?
Tell me about the first few customers and the first few years of business.
We are still in our first few years of business; we have not passed that yet. It has been very challenging and much of the current results come from the fact that we have a team of very talented and dedicated staff, whom I am very proud to call my partners. I feel that this is a very important to the success of the company.
Please tell me some stories of your best day in business or your proudest achievement to date.
There is no single proudest moment I can think of, but our latest publication, "Who's Who in China", is in itself a very significant achievement for any Singapore company, let alone our company. This is because we have obtained the endorsement from the CCPITC in China to partner with them. Secondly, there is no similar publication, even in China right now, so we are the first to compile this book dictating the rich, powerful and influential people in China. I am proud to have a team who has supported the company and helped make all these happen in a very short time.
Do you recall your worst day in business? Have you ever felt like giving up?
Having put in much effort with a client or a prospective customer but failing to close a deal would count as one of my bad days. I guess it is a part and parcel of work. So far, I have not met any major setbacks.
When was the moment you realised the business would work and support you?
I never know. I have never thought of it in that way. I do not consider: "is the business going to support me?", or "is it the job for me?" I just do my job and I enjoy it and therefore I do not think of anything else. I am not assessing whether I should return to work: it has never been a chore, and I have to make it work, because I have a team behind me, whom I have to support. I never think of failing.
What are some of the things you have had to overcome to succeed?
Rejections, lack of credibility, since I look young, and lack of experience are just some of them. As for lack of a business education, it does not really matter, as long as we provide value to our clients. Well we just answer the requirements of our clients. When they need us to do something for them, we do it, and from there we split into different divisions. It depends on clients¡¦ demands. When we see that there is demand in the market, and that we can do something better than our competitors, we go ahead and do it.
What are some qualities that you feel you possess which differentiate you from someone who works for others?
It would be quite judgmental of me to answer that, as many of my good friends are still in their regular jobs, be it in the legal services or other professional fields. I think perhaps I am restless. It is hard to say for sure. I guess I was restless, and I really want to create something which I enjoy doing. For me, no job can offer me that. For those people who have jobs which they are happy with, and who receive support from their organization, it may be better for them to work for others. To each his own.
To succeed in business, what qualities are essential? What are some of the “secrets” in making a successful business?
Firstly, you have to be very passionate in what you are doing. You must really enjoy what you are doing because there will be days when it is difficult to plough through your work, or there will be rejections and lack of business. If you are really passionate about your job, you will find a way through. Secondly, you have to have an eye on the bottom line. No matter what you do, every decision you make must always contribute back to making the company healthier. Thirdly, value your employees, who are the building blocks upon which your company grows, because you cannot do it alone.
Who or what inspires you?
Strangely, nobody.
Have you ever thought of expanding the business in some way or in multiple locations? How and where?
It would be to grow our conference and publishing divisions. The corporate services division is quite stable and we are further growing it through increasing the quality of our services and expanding our client base. In China, you will definitely need some of the services that we are providing, so we have a whole suite which will support the company at any stage of development.
What aspects of expansion would you like to see for your enterprise?
It is possible that we would expand into other geographical markets as well as diversify into unrelated businesses. However, I feel that we cannot do too many things at a time. If I can find very good partners and the market is one which I believe in and it is an area I am interested in, then I will consider diversifying. Otherwise it will dilute my very limited time in doing anything.
In your opinion, how would you define entrepreneurship?
I don't have a textbook definition, but I think it means coming out with the correct attitude, and belief in your idea and in yourself to achieve the goals that you have set for yourself.
To what extent does one’s educational level help or hinder entrepreneurial-ship?
I do not think that a degree helps or hinders at all. Personally, there is no difference. However, I should not put it in such a broad way. You have to look at which area you are talking about. There are fantastic entrepreneurs who are college dropouts, and there are also great founders who are professors in fields such as biotechnology. So I would not make a clear stand on that. In my case, it does not really matter because I am in the legal service. Perhaps if my business fails one day, I may have to go back to being a lawyer. I would then have something to fall back on.
As we try to select the final 39 entrepreneurs, what qualities would you think a person should have to inspire others?
It would be having clarity of thought, strength of belief, which ties in with being passionate in whatever you do, and experience. I would like to learn from other people as I am still new in business. There are more experienced and successful entrepreneurs whom I would like to learn from.
What are some of your own values in doing business and what do you like to pass down to others, particularly the younger generation?
First of all, always try to deliver excellent service to clients. Clients come first, always. Then we should try to be an empowering organization for our staff, so that we can empower them to do what they like. The company should also develop them in their area of interest. As for passing down advice, I myself am still in the younger generation! What I could say is that life is really short, so if you have a dream, go for it. If you do not know what your dream is, but your existing job is not suitable for you, have the courage to break away from what you do not enjoy doing, and create a space for yourself and be one step closer to what you think you should be doing.
What advice would you give young people who want to start their own business?
I would suggest trying different jobs and talking to people. They should try to increase their self-awareness, know what their strengths and weaknesses are, what they hope to achieve in life and what they hope to give back to society. Once they understand more about themselves, they are one step closer in finding their direction in life. I cannot provide a "capsule" of perfect answers, because there is none. It is really down to each individual's self-discovery. It is good if you know that you are interested in doing business, because you are one step closer in your dream. When opportunity knocks, you are clearer on what it is that you want to do or whether it is a good idea that you want to endorse. Some people do not even know what they want. There are many businesses to go into, but the most important thing is to find something that you are really interested in.
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