Name of Recipient:
Mr. Alan Chong
101 Credit is a licensed moneylending company that specializes in payday and personal loans. The company’s founder, Alan Chong, mentioned that he went into this business after gaining many years of experience in the industry. It is only with years of industry experience that Alan is confident that he is able to start up his own business and be consistent with his services. Clearly, 101 Credit is highly familiar with this industry and is able to utilize these skills to better provide for their customers.
Alan went on to say that the secret to success is actually to think like a boss even when you are an employee. For example, an employee can always take the initiative and come up with creative ideas to add to his company. That will also constitute as thinking like an employer, as the employee comes out of his/her comfort zone to take charge of a certain aspect of business operations.
Due to certain policies, moneylending companies can only operate out of one shop space. According to Alan, this dealt a significant blow to the industry. However, not one to be easily discouraged, Alan came up with creative ways to continue to thrive. He stated the example of opening up a frontal shop, as they see more human traffic, in this way, 101 Credit will be able to increase brand awareness.
In addition, 101 Credit hopes to be able to make an impact in the industry by offering a more personal approach to its customers. Alan mentions that it is always important to have a personal touch in business, as this will help break the ice between them and their customers. It is only by creating a bond, that customers will be able to see the care and dedication of a company. That is why 101 Credit also offers one-on-one consultations to those applying for credit plans. This effectively makes their services individualized, rather than homogenized.
As mentioned, 101 Credit cannot expand much further due to governmental regulations. Despite that, Alan is hopeful about the future and says that everyone at the company will continue to work hard; this is because they believe in maintaining a good standard of work ethics, as they do not see everything as merely a business transaction.
When asked about his proudest achievement to date, Alan says that he derives his sense of achievement knowing that he has helped someone tide through difficult times. Evidently, this shows that the company is not only a workplace, but also a place filled with a drive to help those in need.
To Alan, the true meaning of entrepreneurship is learning. He said, “You must always be eager to learn, so that you can adapt to sudden changes”. Clearly, the ideal entrepreneur is one who is constantly learning new things about the world around. This is both for self-knowledge and also to facilitate business progress and improvements.
Furthermore, Alan also mentioned that one must always have the ability to live in the present moment and have courage. He said, “You only live once, what are you waiting for?”.
Giving advice to potential entrepreneurs, Alan said that all entrepreneurs must possess the will to strive for success regardless of the circumstances. He says that a successful entrepreneur is a person who never quits and always strives to improve himself. He said, “Winners never quit, quitters never win”.
Ultimately, it seems clear that 101 Credit is a company that is able to thrive in any given situations due to their ability to adapt to different situations. By combining adaptability with a personal approach to business, it is little wonder that 101 Credit is the success story that we see today.
101A Upper Cross Street
T| 6238 1018
F| 6563 2038