Asian companies place great importance on excellence and success, as well as on the business world.
What many people do not see is the hard work and the effort that takes place behind the scenes. Success does not come easily, and self-rich millionaire Chatri Sityodtong can attest to this.
I had the opportunity to talk to the founder of inspiration, the chairman and CEO of ONE, to learn about his struggles and failures over the years, and how he helped shape him into the successful character he is today.
Live on US $ 4 a day at Harvard
Born to a Japanese mother and Thai father, Terry fell in love with Thai Mui after watching battles at the Lumphini Stadium in Bangkok. He also started training at the famous Sitytong camp at a young age.
His father was an architect who later set up a real estate agency in the 1980s that helped raise his family's wealth from Della to "good consumers," he told the Straits Times in 2017.
But when the financial crisis of the late 1990s, their family lost everything and his father had to sell "mango on the street" for a living.
When the difficulties hit the family, Terry's father abandoned them later, leaving his wife and two sons to take care of themselves.
At the same time, Atari returned from the United States after graduating from Tufts University with a BA in economics, but his mother urged him to return to the United States to study at Harvard Business School.
"My parents had pinned it on me, the eldest son, to get us out of poverty, and my mother thought going to Harvard was the best thing I did not think I could get in, and we had no money for the fee, so I was very scared to go," Peak said in 2013.
He managed to get a scholarship, but lived for $ 4 a day to eat just one meal a day at an all-you-can-eat Korean restaurant that costs US $ 3.25. His mother also secretly lodged his dormitory to save on living expenses.
Chatri eventually taught Muay Thai and took on other odd jobs such as supplying Chinese food. He was also skipping public transport, and went instead to his school or any other meetings just to keep even more.
It was difficult financially, but his time at Harvard laid the road to his future wealth.
From Silicon Valley to Wall Street
"I'm very lucky in my second year at the Business School, my other partners […] There were students like me, and Sean Lee was one of my best friends in life, "said Atari as we chatted in his office in the heart of Singapore.
The 47-year-old CEO recalled fondly, "he said," Terry, let's start a company. " [I said,] "No, no, I can not, I'm poor, I have to focus on work." [But] He was persistent, [saying,] & # 39; Terry, I want you to be part of this & # 39; "He said.
Needless to say, his mother was not very keen on the idea that she was worried that he would fail like his father.
She thought it was "crazy" and felt "scared" but eventually she supported him, because Atari insisted on starting a business is what he really wanted to do.
According to him, Soon Lon and himself invested about $ 1,000 each to operate NextDoor Solutions, a software company that Peak described as "eBay for services."
That same year, at one of the Harvard conferences, the duo met an angel investor who "in a day … maybe at a meeting," offered them $ 5,000 to arrange their business, according to Terry.
That is how the 27-year-old from the start-up university went to an undergraduate degree in business administration.
"It's crazy, is not it?" Terry paused when I asked him how he felt.
"Because in my personal life I live on $ 4 a day, eat one meal a day, and my mother lives in my dorm, on the other hand, I know the crazy guy Soon Loo, who is now EDB CEO of Brunei who was like, , We should do it! & # 39; "
One thing leads to another. We have half a million dollars of foreign capital and it was just shocking. I could not believe anyone would give us half a million dollars!
After completing his MBA in 1999, he moved to Silicon Valley to launch their start-up, bringing with him his mother.
He bought a small office and furnished it at cheap tables. It housed about eight workers a day, and after work hours the office became his home.
I could not even afford a bed. So my mother and I slept on the office floor at night when everyone left, [tucked in our] Sleeping bags.
"So, we did not even know what we were doing [with our] But we worked very hard at the business school and after we finished our studies, we just went for it. "
"In the end, we raised about $ 38 million in venture capital, and then we hired 150 people, but in the end we sold the company," he said.
Atari became a millionaire at the age of 30, but he would not call it.
He grew up and said that he is very passionate about three things: martial arts, entrepreneurship, and the stock market.
"I thought to myself," Look, me "Escaped from poverty", "Makes quotes with his hands," "but I did not do enough to retire for the rest of my life."
"So what can I do? I love the stock market, let me go and learn how to invest on Wall Street […] And learn from the best hedge fund managers. "
He saw himself as lucky when he took up the position of CEO at Merrill Capital, where he managed $ 15 billion of global hedge funds.
"So I set up my fund, raised $ 500 million, and worked in global buying and selling companies […] Around the world."
He was a multi-millionaire at the age of 32, so Terry said he was "already defined [for life]"When he retired as a hedge fund manager, he left Wall Street at the age of 37.
However, he still felt like something was "missing in his soul," he said in an interview with CEO magazine.
"I innocently thought that the answer to happiness was to make a lot of money."
He recalled sitting in a sushi restaurant in New York after his girlfriend, Isara Capital Meng, saw high profits after a year of exceptional performance.
Terry asked if all his money efforts were fulfillment, so he ended up turning back to his first love: martial arts.
Be again initiated and boot
During his work in Silicon Valley, Terry told me that despite his passion for entrepreneurship, he realized that he did not have the same energy as engineering and technology.
However, he discovered that he had a great interest in product development and marketing.
I think the greatest time I got from Silicon Valley was [I learnt] How to think like having a real product from a user's perspective. And, of course, the entire operating culture [like] How to raise money
Armed with the new business knowledge found, he started the one championship in 2011.
"Technology is a big part of what one championship does, and I think if I did not have Silicon Valley experience, I would not be able to apply it carefully here," he mused.
Through one championship, Chatri wants to change the biggest misconception about martial arts: that it is about fighting and violence.
Martial arts is the largest cultural treasure of Asia. It is part of the fabric of history, culture, tradition, and values that have lasted for five thousand years across the continent.
"But what people do not understand is martial artists, through thousands of hours of training, [have] Forged in the spirit of our undisputed warriors: integrity, humility, respect, honor, courage, discipline and compassion. This is the rock of Asian values. "
"Without my martial arts, I would not be able to escape poverty, I really believe that martial arts not only gave me the warrior spirit to be unbreakable in life, but it also gave me all the right values to implement in life," he added.
The martial arts were there for Terry even in his most poor and arrogant times, so he made sure he left him an hour a day, no matter what.
Fall seven times, rise eight
He shared with me his other failures in his young days – how he called the manager's office to get into fights, throw a hoax that eventually led to police, and get bad grades because he was busy chasing girls.
When he wanted to establish one championship, his mother, again, raised her concern.
"She was not afraid I would fail, but she thought it was a dumb idea," he said sincerely.
She is a conservative Japanese lady who loved the image of her son as CEO who sees over $ 500 million hedge funds on Wall Street, and has corrected all the right boxes: Harvard and Wall Street.
As far as her concerns were concerned, one championship was on the verge of failure.
The first three years of one championship were hell. I have rejected thousands of times, failed thousands of times.
It is said that people do not realize the vision of the championship then, so many broadcasters, brands, advertisers, and even potential employees rejected it.
"At the end of the third year I remember reading my mother and saying, 'Mom, things are not going so well.'"
"She was like, 'You see, I told you,'" Atry laughed amusedly.
"We talked a little more and then she asked," Terry, why do not you just stop? "
"Of course, the thought flashed through my mind," Should I stop? "Because literally, nothing happens."
But it's a good thing he did not throw the towel. Instead, his mother's words set another fire inside him, and he was determined to make her work.
From this moment on, video views on his social media grew from 300,000 in 2014 to close to 4 billion in 2018.
"Like Joseph, [for example]No one cares about swimming in Singapore. But as soon as he won the gold medal, everyone knew the amazing life story of how his parents settled their home and brought him to America when he was 14. "
"Then [he came] Back, to bring honor and glory, "he paused."[That’s what] Happens to our world champions [too].
"We finally realized that people do not watch because of the punch or the kick or the serve, and people expect their heroes to represent their country on the world stage of martial arts."
In the same note, Chatri often tells his team that while their genre is martial arts, their platform is based on humanity.
"In order to earn the best days of your life, you have to fight the worst days, I fought by poverty and abandonment by my father, and if I had not fought, I would not be here today," he declared with loud bangs on the table.
"If I did not fight in the worst days of a single championship, I would not have seen the best days of one championship."
In 2017, one championship is said to be worth $ 1 billion and Ri itself was ranked third in FOX Sports. List of the most powerful people of Asia in sports.
Recently, the company raised $ 166 million in round D.
How to overcome failure? Embrace it
Terry admitted later that he could have forgiven his father earlier instead of holding the anger.
"I saw my father go bankrupt [and] To abandon the family, and we were [seen as] "Family," he said somberly.
"In Asia, I agree that we focus more on success and not enough emphasis […] The value of failure. What I do not agree with Asian culture is how everyone should be perfect, everyone can not fail, and the failures are terrible, "he continued.
Failure is a wonderful opportunity to learn, grow and develop, and be the best version of yourself.
A failure in Silicon Valley, he explained, is like getting a "badge of honor" from the investor community.
"Ask any entrepreneur and examine the success stories in Asia, and you will notice that they have repeatedly failed to achieve their success."
When chat was on Wall Street, he realized that money is "just a byproduct" of what you do.
If you are unhappy doing unhappy work, making money is not going to bring you any happiness. But if you do something [that makes] You are happy and filled, and you are driven, you inspire, so you make money that is going to do are you Happy.
"The world needs souls inspired by life, truly living with passion and purpose, so that we can make this world a better place.This is ultimately what entrepreneurship is about – which makes the world a better place."
Chatri's motivation for his work is his strong belief that one championship makes a positive impact in the world.
When he thinks of Wall Street or Silicon Valley, he feels like he's living his dream life now, he told me happily.
His advice to other entrepreneurs: embrace failure, have resilience and resilience, understand that there will be suppliers and negatives, and be prepared to deal with all the problems that come to you.
"I think the biggest entrepreneurs are able to attract and retain the best talent to fight with," he added.
At every stage of your life, do not think [that what you’re doing is] a waste of time. When you pour your heart and soul into something and learn the lessons from it, these lessons may be applicable to your life later and help you succeed.
"I'll tell you, in one championship, it's only the beginning, we've been watched for three years, five years, in ten years."
Credit Card: C.J. Samir Wadhwa
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