Describe the nature of your business.
HQ Link was incorporated in 1989. We are a professional exhibition organiser. Our nature of business is to organise exhibitions. HQ Link has a strong track record with experience in organising more than 250 exhibitions and conferences in Asia. Currently, HQ Link organizes 7 broad categories of exhibitions: Industrial, Building Construction & Infrastructure, Transportation, Career & Education, Consumer Goods, Health & Personal Care and Food & Beverage. I started with a staff strength of 3 and we have grown to our present 60 staff, with our head office in Singapore and overseas offices in China, Vietnam, Malaysia and a strong 30-country agency network.

What made you embark on this venture choice?
After I graduated from university in 1980, I joined the Ministry of Defence for 3 years. I was then recruited by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) to be the Organising Secretary of the Industry committee. I proposed a few activities, and my committee chose exhibitions as the main activity. We then started to plan for the Trade and Industry Fair (a general trade fair) to be held in July 1985. I spent about 18 months on this event, during which I gained a lot of experience, and built up my strong passion in this industry. Frankly speaking, as one person responsible for this project, I was the key person who organised the entire event with help from my other colleagues. It was a very successful exhibition organised by SCCCI. After the completion of this show, SCCCI did not plan to do another exhibition, and I was tasked to do other work such as heading the China Desk. In 1986, I was invited to join an exhibition organising company where I did a famous IT show called Singapore Informatics. In 1987, with experience of organising two major exhibitions, I embarked on my first joint venture exhibition company with some of the Industry committee members. This was my first company. HQ Link was my second company, which I started after selling my share in my first company in 1989. As someone who enjoys challenges, I like the exhibition industry because it is fast-paced, deadline-driven, requires comprehensive planning, good selling and show management skills. Even till today, I still get excited by all our projects.

How does your business work?
As an exhibition organiser, we first have to determine whether the industry is lucrative enough to warrant having an exhibition. This is done by talking to industry professionals and conducting market surveys. We then have to decide whether the project is feasible. When it is decided that it is indeed feasible, there are many things to be done. The marketing services department needs to produce marketing materials, and is responsible for overall publicity and promotion. The sales department is in charge of selling the exhibition to the potential exhibitors. The project and operations department is in charge of the overall operation and management of the show, as well as organising special events. The conference department organises conferences and seminar complementing the exhibition. Our main objective is to create an event that is beneficial to both buyer and seller. Of course, after the event we conduct a post-mortem, where we prepare post-show reports and discuss what was good about the show, as well as where we went wrong for our future improvement.

Did you have the capital to start the business or did you have to borrow from someone to get started?
I made some money from my first company when I sold my share, but it was not enough and so I had to borrow part of the capital from friends. I did not borrow from my family as they could not afford to lend me the money.

Do your parents have their own businesses too? Have they inspired you in one way or another?
My family had a small business as a subcontractor for manufacturing Bata Shoes. My father passed away when I was only 1; I was the youngest child in the family. My mother was very busy earning money to maintain the family with 8 children. She did not have much time for us. Although she did not inspire me as an entrepreneur, I think that I am full of entrepreneurial and adventurous spirit today because she did not control me during my growing stage. Her toughness in dealing with difficult life certainly inspired me and I appreciate her a lot for providing us with a comfortable life, even though life was tough on her as a widow to make a living with 8 children to take care of.

What was your childhood dream? When did you decide that you would strike out on your own instead of working for someone else?
Frankly speaking, I am quite a practical person and I find that a lot of things come naturally to me. I never dreamed about who I wanted to be in future during my childhood days. The success of the Trade & Industry Fair had built a good track record for me, and a reputation as someone good at organising exhibitions. Some of my committee members spotted my talent in organising exhibitions and invited me to start businesses with them. When the opportunity came, I grabbed it. Back then the exhibition industry was still very new.

Why does someone decide to be on their own rather than join an existing company?
A person who has entrepreneurial spirit would prefer to be on their own, rather than join an existing company. Our government nowadays likes to encourage and promote entrepreneurial spirit. However, I am doubtful as to whether it is useful, as entrepreneurship cannot be trained. I find that entrepreneurs have certain qualities. Not everybody can be one. It must be in you.

Are there at any point in your life that you experienced a significant event (WW2, racial riots of the 1960s, the Economic Crisis of the 80s or 90s, SARS, new competition or shifts in market behaviour and trends) which affected or influenced you and your business that made you change the way you think and do your business?
Yes, certainly. The exhibitions we organise are mainly trade exhibitions. Because it is trade-related, our business is very much dependent on the regional economy and situation. Any crisis that happens has a strong negative impact on us. For example, Gulf War in 1991, Financial Crisis in 1997, 911 in 2001, SAR crisis in 2003 and Bali Bombing etc. All these crises made me realise that I could not put all eggs into one basket. We needed to diversify and expand our business into more markets. We could not be complacent even when we were still doing well. We should constantly review and revamp our business. We should look for new exhibitions and new markets even before our current exhibitions business starts declining.

What are some of the challenges in starting a business from scratch? (Modify question to what are some of the challenges in maintaining a family business if applicable.)
For our trade exhibition business, almost every industry can only afford to have one successful trade show. Singapore is a pioneer in the exhibition industry; its history began in the 70s. In the late 1980s, almost every industry already had a relevant trade show organised by an organiser. In that sense, the market was somewhat saturated. Therefore, one of my main challenges was to identify a niche show, and an opportunity to make it happen. This is why I did not start my business in Singapore when I was first started; there was no opportunity for me. I did my first 3 shows in the Philippines because the economy was on the rise. However, the Gulf War in 1991 affected our trade exhibitions in the Philippines, as it was held during the Gulf War. Another challenge I faced was learning how to raise funds and manage the business cash flow. I had only a limited capital, which was mainly borrowed from friends, and for the first two years I had zero income. This is because one exhibition takes two years to organise and my first 3 shows in the Philippines were not successful due to the Gulf War and I had almost lost all my initial capital.

Who/What motivates you?
I am a self-motivated person. My motivation comes from my belief that I hope I can generate more wealth to help others. Since I was young I have respected volunteers; people who spend time and money helping people. Since I was given an opportunity to do business, if I can do well, I will be able to help needy people in other ways. If I cannot spend time now, I can donate money. This is a miain source of motivation for me to work very hard.

Tell me about the first few customers and the first few years of business.
A month after forming HQ Link, I was already in the Philippines looking for business opportunities. I decided then that we would have our first trade exhibition there, as Singapore already had a lot of shows. We planned the show for 1991 because a trade exhibition takes 2 years to plan. Our first 3 shows in the Philippines were all machinery-related. In fact, I rented outdoor exhibition hall tentages from Singapore and moved them to Philippines. Unfortunately, the Gulf War happened in 1991. My first show was at the start of the war, my second show was in the middle of it, and my last show was towards the end of the war. It was a disaster! The UK issued warnings to their residents not to travel to the Philippines, and exhibitors and speakers informed us at the last minute that they were not coming. But we completed the three shows, even though we lost a lot of money, because as a new exhibition organiser then we needed to build our track record; the shows were important to us.

Please tell me about your best day in business or your proudest achievement to date.
1998 can be considered to be my best day in business. That was the time my business was most successful; all my shows were doing very well. My proudest achievement to date is that for a company with no background, HQ Link has grown to become the largest home-grown exhibition organiser and a leading regional player. We have been competing with the international firms since the beginning. We organised exhibitions in countries like China, Vietnam, India and the Middle East. We are planning to expand to USA, Europe, Russia and Africa in our next stage of expansion. Because of our corporate achievements and my reputation in the industry, I became the first lady president of Singapore Association of Convention and Exhibition Organisers and Suppliers (SACEOS) since 2002 and I am now into my 3rd term. Furthermore, I have been elected as the President of Protem Committee for Asian Federation of Exhibition and Conventions Associations(AFECA) in 2004, in which SACEOS played a major role in forming the Federation.

Do you recall your worst day in business? Have you ever felt like giving up?
The worst days of my business were during the early days, when I was just starting out with a lot of disasters in the wrong place and wrong time. As I mentioned earlier, I had launched my first 3 shows in the Philippines, and the Gulf War broke out during my exhibitions in the Philippines. However, despite all this, I did not feel like giving up. This is because I entered into the exhibition organising business out of passion, and I enjoy organising exhibitions.

When was the moment you realised the business would work and support you?
Starting from the time when I was organising exhibitions for the SCCCI, I experienced much success and this exhibition contributed huge revenue to SCCCI. Hence, I knew that it was a lucrative business even before I had started out my own business.

What are some of the things you have had to overcome to succeed?
In the beginning, I faced problems of limited capital and cash flow, as well as identifying exhibitions that could work. I overcame them by using my reputation to gain trust from friends who lent me capital, suppliers to give me longer period of credit term, and bank to lend me working capital. Also, I am good in cash flow management. Furthermore, I have been able to identify good shows to organise as I am willing to take risk and invest in more new projects at the same time.

What are some qualities that you feel you possess which differentiate you from someone who works for others?
I believe that I possess the qualities that make a good entrepreneur. I am a super workaholic and I dare to take risks. I have strong passion for my work, and most importantly organising exhibitions is my strength. People say that the sky is the limit. I say, the sky is no limit. From the earth, to the sun, to the moon, the universe is endless. Whatever you think you want to do, just do it. If you can be putting in 100% or more, then why put in only 80%? I always set more than 100% target for our company and our staff to achieve. Our Corporate Slogan is Think Big and Make It Happen. This slogan has given me a lot of courage to venture into new exhibitions and new markets.

To succeed in business, what qualities are essential? What are some of the secrets in making a successful business?
Firstly, you must have strong passion for the business that you have chosen. Secondly, you must have strength in doing this business, as you cannot totally depend on others. Thirdly, you must dare to take risks. Fourthly, you must be very hardworking. I would dare to say that 100% of entrepreneurs are workaholics. Next, you must have strong determination and persistence, as business may not start smoothly and there are a lot of disasters that you need to overcome in different stages of business development. Furthermore, fresh concepts need to be constantly introduced into our business in order to keep abreast of the market trend and development. Most importantly, customer satisfaction is the forever lasting success factor for any business.

Who or what inspires you?
I am a Buddhist. Besides Buddha, the person who inspires me the most is Mr Gandhi, the Father of India. He is someone who works wholeheartedly for the people. He wanted to free the people of India. As I mentioned earlier, I believe in helping others. I also respect Mr Gandhi for the way he did his campaign using a peaceful approach. I will also be inspired by successful businessmen who will donate their wealth to support charitable affairs. They are human beings with wisdom, and who are able to manage their hard-earned money and not let the money manage them.

Have you ever thought of expanding the business in some way or in multiple locations? How and where?
Since the beginning of my business, HQ Link has set to be a regional player. We started our business in Singapore and Southeast Asia in the first 5 years. In the next 5 years, we expanded our business to China. In the following 5 years, we consolidated our business. Currently, we are in our 3rd phase of expansion to India and the Middle East. We are even planning to venture into Europe, USA, Russia and Africa. Our current strategy is firstly, to maximum return on investment in our established shows group in Singapore and expand this show series to new markets. Secondly, invest into new exhibition groups with high potential growth. Thirdly, focus our investment on Asia High Growth Market such as, other than China and Vietnam, India and the Middle East. Finally, capitalise on high demand for Asian-made consumer goods in niche markets such as Europe, America, Russia and Africa.

What aspects of expansion would you like to see for your enterprise?
Our Business volume was at the highest in 1998 and 2000. Back then, we never crossed $9 million in gross sales. After the SARS crisis in 2003, we only achieved approximately $5 million gross revenue each year. With the change of business strategy and my aggressive expansion plan business model, my vision for this year is to achieve $10 million gross sales or more, a 100% growth rate as compared to the last 3 years. In subsequent years, we hope to continue growing at 100% growth rate. I give myself 5 years to grow my business to a $50 million exhibition company. I plan to do this through organic growth. In other words, we will depend on our own financial strength and resources to achieve our goal. If I am able to find partners through mergers and acquisition , we could even grow into a $100 million sales turnover Exhibition Group. With the opening of Integrated Resorts (IR) in Singapore in 2009, the MICE (Meeting, Incentive, Convention & Exhibition ) sector is certainly booming. By capitalising on this new development, HQ Link will commence its new phase of expansion and reach new heights.

In your opinion, how would you define entrepreneurship?
I define entrepreneurship as the adventurous spirit that a person or company who dares to do something they dream of doing; a never say die attitude in whatever critical situation that they are facing, and they are able to overcome them and succeed.

To what extent does one?s educational level help or hinder entrepreneurial-ship?
Frankly speaking, there is no link between education level and entrepreneurship. In the old days, majority of the entrepreneurs were uneducated or with limited education. For example, the founder of OUB, Mr Lien. Basically, entrepreneurship is about what is inside you as a person, not education level.

As we try to select the final 41 entrepreneurs, what qualities would you think a person should have to inspire others?
Normally, businessmen are inspired by other businessmen who are doing well. But I only respect those who, after doing well, still give back to society. An example of such a person is Hong Kong Tycoon Mr Li Ka Shing. Even though he is a very successful businessman, he considers his greatest achievement as being able to help others. A quality a person should have to inspire others is his sense of social responsibility and kindness. A successful businessman should not be a money making machine.

What are some of your own values in doing business and what do you like to pass down to others, particularly the younger generation?
Some of the values I use in conducting my business are useful to all, whether you are a boss or not. What I would like to pass down to the next generation is that each person carries with him an image and reputation. This will stay with you until you die. Hence, it is important to be responsible for whatever you say or do. Also, if you dream of being successful, whether in work, or in becoming your own boss, you need to have strong passion, and you need to be hardworking and have strong determination. These are some of the personal values that I bring to my business and share with my staff.

What advice would you give young people who want to start their own business?
A lot of people dream of being their own boss. Before you start your business, you must ask yourself, Are You Ready? This calls for an objective analysis as to whether you have the right experience or enough capital. Also, do you have the qualities of an entrepreneur, or do you want to be an entrepreneur only because it is a current trend and because everyone says it’s good to be your own boss? For every entrepreneur that succeeds, there are may be 99,999 others who fail. And we only notice the one that succeeded. It is good to dream, but at the same time we have to be practical. If you have the desire to become an entrepreneur, you must also have the qualities of an entrepreneur. Lastly, have you chosen the right business? Is this something you can do well? You have to run through all these questions to analyse and determine whether you are ready to start your own business.

Your Personal Comment
In the course of interviewing Ms Yong, I was enthralled by her candid insights into entrepreneurship. Her experiences are certainly an inspiration to any young entrepreneur-to-be.