My 1-on-1 with our founder
"Leaders have many things in common, they are achievement-oriented, self-driven and most importantly they are a change maker and visionary. They have made sacrifices along the way, spending not enough time with their friends and families, putting on tremendous amount of responsibilities and stress on their shoulders worrying about growth, funding and their employees’ welfare.
How often do you come across leader who had straight As and played professional poker? I stole an hour of Shing's time and had a chat with him last week...
Aaron: Can you tell me some of your screw-ups?
1. We didn't appoint a leader for Hong Kong when we were expanding to China and other SEA cities.
2. We should have entered China earlier.
3. Our driver app got removed from the app store and we had to build another one and upload it again.
Aaron: What is your vision?
Shing: When I was a kid, I was inspired by famous people and their biographies. I believe in self-fulfilling prophecy and one can achieve anything they want with hard-work and dedication. I have high hopes for Hong Kong in becoming a major tech hub and Lalamove will lead that by becoming the first unicorn company.
Aaron: Why Lalamove?
In naming, I believe in 5 second rule. We need a name that people can remember, pronounce and spell after 5 seconds. The reason is that most referrals occur offline even in today very online world. The ratio is for every online referral, there is at least 10x more offline referrals. So, having a name that is easy for people to remember and refer is most important. In HK, our data show that 40% of our new users come from referral.
In naming, I also believe in being unorthodox. We need a name that is less corporate, less boring, less traditional. We are the disruptive force in logistics. We need a name to reflect that. I believe a lot of you have chosen "Swyft“. but that is a name that i think any company could have used.
In naming, I also believe in choosing a name that is emotional. I want people first instinct, when hearing our name for the fist time, to either love it or hate it. The worst you could do in building a company is irrelevance. Even if people hate our name, they will still have to remember us to hate us.
Aaron: What has helped Lalamove and our fund-raising journey?
Shing: Many of the early investors knew of me through friends of friends because of my credibility and past achievements. I think it is very important to go the extra mile regardless of what you do. People only remember the best people and not the mediocre ones.
Aaron: What is the exit plan for Lalamove?
Shing: It is still early days but once we are profitable, we will have plenty of options and by then we can branch out and achieve other extraordinary things.
I joined Lalamove 7 months ago and at the time we didn’t have a lot of the team structure and big names that we have today. LINE, Sun Hun Kai Properties, Security Deposits and monetization is a little less than 2 months away. We have had good MOM growth and we are hoping to beat NOV’s number in May. There will be a lot of exciting developments and bumps in the near future and no doubt our team will tackle them just like what we have been doing in the last 2.5 years.