10 lessons from 10 years of Tech in Asia
25 March 2021
Tech in Asia is officially 10 years old.¹
I asked my colleagues what they would like me to share today, and they voted for what I’ve learned in the last decade.
There are so many lessons I've picked up. Some are obvious and frequently talked about, such as making something people want, focusing on your mission, and being data-driven. Some aren’t as apparent or discussed as often. I wrote them down in this post and I hope you’ll find them useful.²
1. Be radically transparent
Good times or bad times, stay as transparent as possible. At Tech in Asia, we share our runway every month. If it’s three months, then so be it. Our team members also get a copy of the monthly report that we share with our shareholders. The team deserves to know so they can plan their next move. If they bail at crunch times, that’s all right; everyone has their own battles to fight.
2. Work-life balance shouldn’t be taboo
The tech community likes to advocate extreme work hours. I believe in working hard, but not necessarily long hours - it’s just not productive. Go for quality hours: Rather than insisting, “I need to work 12 hours,” think of it as, “I will finish my work in 8 hours.” If your body isn’t reacting well, stop. Life isn’t just about work. Take some time off, recharge, and live in the present. You’ll find yourself doing less but getting more.
3. Don’t compare
Founders like to idolize and compare themselves against others or god-like founders. I used to do that but not anymore, and it is liberating. There’s always someone better, stronger, faster, and richer than you, so why bother? You’re unique. Just strive to be a better version of yourself.
4. Be kind
Success breeds confidence and sometimes arrogance. Remember that we were all once a helpless baby, a rebellious student, a clumsy noob, and/or a total wannabe. It pays to be kind.³
5. Run your company like a sports team, not a family
In a soccer team, if the striker isn’t scoring goals, the coach is expected to make changes to avoid letting the entire team down. Keep in mind that your company is not a family: Look at performance and lead via meritocracy.
6. Embrace the bad times
Every company will go through ups and downs. While upsurges are easy, you need down times so you can rise up. Think of it as taking test or medicine: It’s important and not necessarily unpleasant (yes, you read that right). It’s all in your mindset. If you survive, you improve. If you don’t, you didn’t lose; instead, you earned yourself an adventure with no regrets.
7. You can’t please everyone
I learned this the hard way, and this is especially true in our field. We stay as neutral as possible and let our work do the talking. We avoid getting too emotional or judgemental about the stories that come our way. Still, haters gonna hate - and that’s life. The faster you accept it, the more freedom and peace you can enjoy.
8. Take advice with a grain of salt
The smartest aren’t always right, and the “silliest idea” may work.
A lot of founders adore venture capitalists and take their words way too seriously. Some VCs don’t have experience as a founder or product builder, but it doesn’t mean they’re incapable. It just means that their operation-related suggestions need to be taken with a grain of salt. Consider this: As an operator, you’re the one who has spent the most time thinking about the problems you’re trying to solve.
VCs are great at spotting trends and giving fundraising guidance, so use their advice wisely.
9. It’s you, not them
When shit happens, don’t point your finger at others.⁴ The problem lies with you. Learning to own the problem and looking at yourself makes life feel more liberating. You can’t control external factors and how other people think or act, but you can control yourself. Knowing that and acting on it can be a powerful tool.
10. Understand the hidden costs
At the time when “growth at all costs” is the prevailing mantra, founders may lose sight of the bigger picture. Are you solving a worthy problem?⁵ Are we acquiring users at healthy unit economics? Are we missing out on unseen costs? It’s subjective but worth digging into to get clarity for your journey.
Personally, there’s a huge hidden cost I’ve been thinking about a lot.
Asia's tech community is in good shape. China is one of the tech startup leaders of the world. India and Southeast Asia are thriving, and the same goes for many other tech hubs across the continent. Many successful entrepreneurs and operators have moved on to build other companies and invest in others.
The tech community gets wealthier and more powerful each day. But Earth, the biggest platform of all time, is deteriorating in plain sight.
One of the costs that we don’t see is the damage to the environment as we operate our business. Tech is possibly one of the greener industries, but we are all interconnected. The dirty energy that powers us, the materials (e.g., cement) we use to build things, and the fuel we burn to move and ship goods - they're all harmful to the environment.
We pride ourselves as visionaries, innovators, and disruptors, so I hope to see more founders and investors tackle climate change or at least go carbon neutral. It isn’t just a big scary problem worth solving, it’s also potentially a trillion-dollar industry.
Rest assured that we will do our part to save the Earth.
Happy 10th anniversary, Tech in Asia!⁶
¹ This is based on our incorporation date. The journey sorta started in 2009 when I was a student.
² I’m no guru. And even though I’ve learned, I still fall short at times.
³ I wasn’t always kind. I came from a difficult family, so I learned the value of kindness the hard way.
⁴ Getting to the root of an issue is not finger-pointing. It’s called problem-solving.
⁵ It’s a hidden cost because should you find out later in the journey and bail, all your time and effort is kinda wasted.
⁶ If you liked what you just read, join us.