Startup Introduction: Beginning on the Right Foot

Five years ago I wrote a column on Entrepreneurship and listed the top ten things I learned about the subject I did not learn from Business School.

1. Articulate your vision. In whatever facet of business you undertake, all decisions must be referenced against the overriding vision.
2. Develop a track record. Remember that your name is your currency, whether you are rendering four hours of volunteer work or putting in an all-nighter for your first boss’s report.
3. Take care of your network. Your classmate in college might be your business partner in the future.
4. Turbocharge your multitasking abilities. Everyday will represent a gut check and a litany of urgency, discipline, accountability, judgment, initiative, economic and critical thinking skills.
5. Listen to your gut. Business decisions are not always black and white.
6. Be prepared to be alone. The life of an entrepreneur is very lonely, as very few people can understand why you work as hard as you do with the same passion that you do.
7. Get the right people on your team. The beauty of entrepreneurship is the fundamental understanding that your business is led by a singular visionary but at the end of the day the success of the business is a function of team play.
8. Innovate, innovate, innovate. We must react to ourselves and be truly committed to constantly examining our execution and trying to figure out ways to improve it.
9. Trust is sacred. You are not just a steward of resources, but more importantly, of the faith and trust that your investors and team members have invested in you.
10. Embrace the serendipitous nature of opportunity. One constant in today’s business environment is change, and you must have the foresight to anticipate and respond accordingly.

Such arrogance!  Five years ago business consumed my life. I ran three companies which I co-founded (The Coffee Bean & Tea Leaf, Red Box Karaoke and IDC Manpower) and on paper appeared to have it all together. In reality my pride-in-self enabled me to mask the vast emptiness, fear, and loneliness (see#6 above) that gripped my life. Five years ago I did not know God and had no desire to seek Him.

I then met Jesus and was born again in 2007. My life was turned upside down as a downpour of GRACE and FREEDOM engulfed it. I started over and began to walk with Him in VICTORY. It is this walk shared by many others in our Church and others that I have the unique privilege of sharing with you through Startup.  Essentially, walking with the Lord in FAITH represents the absolute foundation for beginning anything on the right foot.

Some early Lessons in Faith the Israelites (and many of us) had to learn the hard way:

1)      (Numbers 13:27-29) When we focus on the obstacles rather than the objectives, fear will eclipse our faith.  Focus on the objectives, not the obstacles.

2)      (Numbers 13:33) When we compare grasshoppers with giants, intimidation will replace confidence.  We must see ourselves as God sees us, especially in the face of adversity.

3)      (Numbers 14:1-4) When we allow our emotions to run rampant, our desire for relief will weaken our courage.  Pray for and trust in His revelation over emotion.

4)      (Numbers 14:28-30) When we seek instant gratification at the expense of character cultivation, disaster awaits.  Choose character over comfort.

Change is a permanent part of life, and with each new change is a new beginning, and with new beginnings come new challenges, adjustments, and new experiences.  There is always a mixed sense of excitement and trepidation whenever there is a new undertaking.  We are hopeful about the possibilities but at the same time the unknown outcomes concern us. In Startup, we are collecting great stories + ideas from people who started and succeeded so that we can learn from their experiences and hopefully begin on the right foot in our own starts.

Walden Chu, CFA, CPA, received his degree in Business Administration from the University of Michigan in Ann Arbor, then embarked on a trajectory that would take him from Risk Management at Ernst & Young in New York to entrepreneurial endeavors in lifestyle and hospitality in Manila. Along the way, Walden became a follower of Jesus Christ and by grace is happily married to Ina Roman. He currently lead manages The Coffee Bean & Tea Leaf and Red Box Karaoke brands in the Philippines.