Personal research project on entrepreneurship

The primary task for this assignment is to undertake a personal research project that explores the “lifeworld” of an entrepreneur, discussing and evaluating the pressures and complexities associated with running a small business in the 21st Century.
Entrepreneur’s Company details:
 ACRA Registration number – 2003002022
 Company Name – Face of Man Private Limited
 Company Address – 50, East Coast Road, #02-83, Singapore 428769
 Company Type – Skin Care Service & Products
 Company Share Holders & Roles –
1. Chris Chua (Operations)
2. Adam Chua (Marketing & Finance)
3. James Teo (Research & Development)
Brief about company:
Face of Man Private Limited was founded by Chris Chua & Adam Chua both are twin brothers. The
company was established on 1993 & has been around for 22 years. 10 years into the opening James
Teo join in as the third partner. Face of Man Private Limited provides skin care treatment for man, it
has three stores located in Singapore. Idea for the business was from Chris Chua.
1. How you came upon starting your business venture?
Ans: When I (Chris Chua) was in the army, I was a medic working with doctor Singh, Most of
the NS Men had skin problems due to poor hygiene & couldn’t seek proper treatments as
there isn’t any, only option was that doctor Singh prescribed sulphur cream or Antibiotics
which wasn’t much effective but caused scaring. From my observations Acne was a skin
disease & man couldn’t get the treatment as to social constraints from society and doesn’t
feel comfortable in seeking help as it’s not manly. After raising this issue to Doctor Singh, he
said that there isn’t any salon that caters to man in Singapore but in the UK there are many.
Which allowed me to embark to UK for further research and studies. I had financial
constraints as my family wasn’t well off and my brother Adam had to pay for my studies
abroad not covering my daily expenses which led me in seeking for a job. I was offered a job
with a duck rice stall and was provided with lodging for two years during the course of my
studies. I left home out of impulse because my parents were doubting my ability to succeed.
After 2 years I graduated with a diploma in skin care. Working for the duck rice restaurant
only allowed me for lodging, meals & expenses. As I needed an extra income for my savings I
took up another job, scooping snow at Nottinghill. It was very cold & couldn’t afford for the
winter clothing. On one night I was scooping snow for this old couples, I got very tired and
cold so I sat on the roof and started cursing the sky “why is my life like this” then i said “no
matter what I will open up a salon in Singapore and become successful”. That was the
turning point. After coming back to Singapore I was short in my savings so worked as a flight
stewardess. With the amount I saved, i set up a salon at Sydney Australia but ended up
selling the business to a German lady because after realising that the market wasn’t good
enough to sustain the business, I didn’t wanted to set up in Singapore as I assumed
Singapore wasn’t ready. After that in 1993 I officially open Face of Man Private Limited in
Singapore with my twin brother as my partner.
2. How do you choose the right kind of people to bring into your organization that would care
for the business as you do?
Ans: When picking the right people we look for people with team work & are service
oriented. Having partners has its pros & cons, so we should have a balance of understanding,
e.g. knowing each other strength and tasked them to play that role in the business that
would be advantageous to the company. Tap on each other strength.
3. How crucial is it to have good employees to make your company successful?
Ans: Employees are crucial to the success because they’re the front line. & good customer
service should start from the top level as to say the management so it’ll flow down till the
frontline employees. I got this theory is from my own experience on researches of books.
We value our customer feedbacks, whenever we get feedbacks we look into it seriously. As
there is the internet, it may ruin the company’s reputation by bad reviews online. Be true at
what you do, honesty.
4. If you were given the chance to start to restart your career, would you do it any other way?
Ans: No, I won’t change anything.
5. What would be the top three criteria needed to be a successful entrepreneur?
Ans: 1- handling staff – provide a lot of training –provide new service – you have to
constantly involve the business to stay competitive.
6. What should a business do to maintain a marketing advantage?
Ans: Constantly evolve and follow the new trend. Study the marketing technics because it
varies for different industries.
7. What would you say to be your attitude to run your business successfully?
Ans: When running your business you should emphasize about forgiving and moving on as
mistakes are part and partial.
8. What was the one failure you say that changed your business?
Ans: I was played out by some Vietnamese franchise, from this lesson it thought me to do
everything with black and white meaning official documentation.
9. How do you maintain a healthy relationship with other business units?
Ans: Business ethics is crucial in start-up business to gain trust in the industry.
10. What were the steps you take before employing a new idea?
Ans: You must look into the risk factor before being persistent in new ideas.
11. How did your business affect your personal life?
Ans: Yah I regretted because I married late and my eldest son is 6, definitely it affected for the
first 10 years. You should practise leaving you work and not bringing it home. Work life
12. How did you establish such positive culture?
Ans: It should start from the higher level that’s to say the management, then flow down the
hierarchy level.
13. How do you define success?
Ans: Success = hard work
14. How do you do damage control if a mistake is done?
Ans: We have things such as service recovery, certain protocol for such situation.