FONG WAI HONG
Fong Wai Hong describes himself as an accidental entrepreneur. The self-professed geek stumbled into e-commerce after managing a successful eBay business online with his uncle. Today, Wai Hong harbours a bigger vision by serving more than 250,000 SMEs in over 15 countries through his start-up StoreHub, a cloud-based store management system for SMEs. When asked what guides his entrepreneurial decisions, he answers without missing a beat “that weird tension between gut and overthinking.”
By combining point of sales (POS), inventory and customer-relationship management, StoreHub was created to connect consumers and suppliers by providing the relevant tools and channels. Wai Hong shares that one of the most exciting things lined up for their merchants is the automation of the entire customer acquisition and engagement process for retailers and restaurants.
As for where the future of e-commerce lies, the entrepreneur says we will most likely see the “e” being removed from the word to become just commerce. “What it will look like is this spider web of intersections between offline and online stores, mobile and desktop and an incredibly technology saturated world where brands and businesses are able to use immense amounts of data to engage with customers.”
When it comes to his advice for aspiring entrepreneurs, he candidly says, “Don’t do it. And if you really have to, count the cost. Make sure you know how much you have to give up; how often you have to be uncomfortable and misunderstood; how bigger dreams come with bigger price tags. Finally, find a co-founder you can trust. Difficult journeys are 10 times better when done together.”
Fong Wai Hong is wearing the Hublot Big Bang Unico Special One Blue Ceramic; sheer extra long-sleeved shirt and jacket from Bottega Veneta; glasses from Carrera