Name of Recipient:
Mr. Alan Tan
Established in December of 2011, ABM Creditz is a licensed moneylending company situated in the heart of Chinatown.
Founder Alan Tan went into the business as he has always felt that being an entrepreneur is his calling. He recounted that he started his first business dealing with renovation work. However, that business venture did not work out well as he made a few costly mistakes. Alan said: “The biggest problem was that I didn’t do credit checks on my customers. My cash flow wasn’t accounted for, and a lot of my customers ended up not paying me.”
Evidently, Alan is an individual who chooses not to allow failures to stand in the way of his success. As such, he began ABM Creditz in 2011. The very fact that his company is still in operations, while many in the same industry had already folded, shows that Alan has made his initial mistakes into his teacher.
Admittedly, Alan says that there is a lot of stigmatization associated with the licensed moneylending industry. He said: “The most important thing is actually to just follow the laws set down (by the authorities). Only by that, can you continue to run the business well.” With them nearing three years in operation, it shows that ABM Creditz’s business model is working.
Alan says that many of his customers come to him because of positive review and word of mouth. Elaborating more on this point, Alan mentions that the need for good customer service is vital in business. This is because customers are made to feel at home and are more likely to return to a place that feels warm and welcoming.
Speaking about the main differentiation from his competitors, Alan stated that he is constantly enrolling himself and his staff to learn about the laws of the industry. This is all to ensure that the company abides by the law and provide services that are strictly in adherence to the law.
Alan also candidly talked about the need to pull away from the usual image of hooliganism. He said that the public is used to branding people in the industry as hooligans, however, he was quick to reiterate that they are providing a service to people, and following the law in order in their day-to-day operations.
Taking a look at their website, it obvious that ABM Creditz is a company that is in the industry more than just for monetary gain. Their pages include tips on how to save money and tips on living a frugal life. This suggests that the company is proactive in getting people to become more financially literate, so that they can better care of their finances.
Talking about the meaning of entrepreneurship, Alan offered his own take by saying that an entrepreneur is not a person who must lead, but also, he/she is a person who must have a good team. He highlighted that an individual does not make a team. He said that competent members of the staff all help to facilitate a company’s overall performance, and as such, success is inseparable from teamwork.
When asked about the qualities necessary for being a successful entrepreneur, Alan stated: “It is about being a leader, providing a special product or service. If you can do that well, you will gain respect.”
Evidently, Alan is a go-getter who is willing to work hard to achieve his goals. From his early days where he made mistakes whilst running a renovation business, he has emerged anew and created success, in his own right. It is safe to say that his winning attitude will guide his work toward more success in the coming years.
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