Date
18 December 2017
'The ability to cooperate with others often determines how big a business one can build,' says blogger and startup investor Lo Kim. Photo: internet
'The ability to cooperate with others often determines how big a business one can build,' says blogger and startup investor Lo Kim. Photo: internet

Even tycoons need to join hands – what are SMEs waiting for?

The main reason most small businesses never grow into large corporations is they lack a strong team, blogger and startup investor Lo Kim wrote.

When tycoons like Tencent’s Pony Ma Huateng, Wanda’s Wang Jianlin and Baidu’s Robin Li Yanhong are tying up to boost their offerings and build a bigger platform, the chances of success for small companies looking to strike out on their own are limited at best, Lo said.

SME bosses need to partner and leverage off others’ strengths, too, if they want to survive and thrive.

Built on Wanda’s mall network, Tencent’s Wechat social and payment platform and Baidu’s strengths in maps, the three megafirms’ e-commerce joint venture, Ffan.com, rolled out  last year.

It combines a digital membership and rewards system, payment service and online marketing programs.

“These three bosses don’t lack money or talent. Why did they still choose to join hands?” Lo wrote.

“Because they need to combine their resources to offer better services. I have deep respect for their vision.” 

Lo mentioned some of the hurdles that stop small entrepreneurs from collaborating with others.

“Some overestimate their own abilities, some can’t develop trust in people, some are too calculating,” he said.

“But if there is no give, there is no take.

“This is an era of fighting together and winning together.”

Lo said that, based on his observations, successful people are always looking for chances to find new partners.

“Help others, and your own company will also get stronger and bigger,” he said.

“The ability to cooperate with others often determines how big a business one can build.”

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FL

EJ Insight writer

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