IN this week’s Success: The Insight Story column, SunBiz meets Edwin Wang (pix), CEO of Signature Market, the online marketplace in Malaysia that focuses on natural and organic products

Discard the self-limiting beliefs

How has your life experience made you the leader you are today?

I went through a leadership course and neuro-linguistic programming (NLP) to reprogramme my self-limiting beliefs. I have also been doing pro bono life coaching for over seven years, coaching fellow entrepreneurs and friends.

What traits do you look for in your talent or how do you decide who is right for a job?

First, people who want to join our team should have a legitimate interest in our company and the role instead of just doing it for the money. Intention is important for both parties. We believe that a candidate deserves to find a job they like rather than treating work as an obligation.

Second, someone who dares to speak up and show up. This shows that the talent really cares instead of just fulfilling an obligation.

Third, talented individuals who are proud of being themselves and are embracing their uniqueness. That way the new talent can have a sense of belonging at work.

How do you think the industry you are in will evolve?

Fast-moving consumer goods (FMCG) industries are getting more fragmented as consumer demands are getting more complex. Consumers want a product that fits their diet and lifestyle and a brand that they can relate to. Currently consumers still don’t have many choices as the market is monopolised by a few big giants and the innovation has been slow.

With the power of the internet, the barrier of entry has been lowered, and logistics costs have been getting lower and more convenient. I predict the future of the FMCG industry will provide consumers with lots of choices and brands to choose from.

With the ever-improving development of artificial intelligence (AI), 5G, and automation, food prices will be significantly decreased as less labour is needed with automation and crop yield is higher with AI technology. With cheaper food, companies won’t need to use artificial flavourings to lower their cost and can offer whole foods instead. With the enhancement of drones, food companies can send products to consumers’ doorsteps swiftly, removing the need to add preservatives.

What advice can you offer those looking to start their career/own business?

Always follow your heart and intuition. Do something that brings joy to you rather than focus on the norm. Most of the time the biggest rewards come from being persistent in doing the things you love, over a long period of time. Fast money is short term – easy come easy go.

We all know about the industrial revolution, are we in for a technological revolution? Your thoughts?

Definitely, technological innovation is progressing at a fast pace. With 5G, AI, automation and drones, new companies are replacing traditional companies rapidly. Companies should change their culture and keep investing in innovation. Consumers today are different, they want a ton of choices and convenience, and quickly. Taking risks is the new game for companies to stay relevant.

How has mentorship made a difference in your professional life?

As a leader I must keep in check my intention when I am making a decision. I have engaged in a personal mentor to keep me on track.

Keeping me in check to make sure I’m not losing focus on my goals. It is important to make sure my decisions are with the intention of abundance rather than scarcity. Feedback is always important so I can stay focused on my vision and goals.

What do you want to accomplish in the next five years?

I want Signature Market to become a lifestyle brand that could directly impact our members. I wish to be able to advocate the abundance mindset so my members can continue to upgrade their lives and live happy and fulfilling lives. The lifestyles we want to impact consist of body, mind and spirit.

Best piece of advice you ever received on your career.

Believe that everyone wants to see me successful and is here to help me towards my goal. After I embraced this belief, my life was surrounded with angels. Everyone was cheering for me and wanted to see success in everything I did.

Most-admired business leader? Why?

Tony Robbins, because he is able to have a huge profitable business that changes people’s lives.

How do you stay abreast of issues affecting your industry?

I always stay in the mindset of learning and I regularly meet up with industry players to share trends and insights. Being open to listening is one of the most important attitudes to have.

How do you expect policies on climate change to impact businesses in the future?

All new companies nowadays have contribution to sustainability efforts as part of their DNA. Businesses that practise a scarcity mindset, just focus on profits, and are harming society and the environment will be rejected by society.

The most successful companies have been huge monopolies in the industry, hence consumers do not have any choice but to purchase from them. In a future where choices are abundant, consumers will choose businesses that are responsible to society and the environment. No one likes to support the big bully that is creating harm in the world. The Russia and Ukraine war clearly displays this trend.

If you could have an hour with any thought leader in the world, who would it be and why?

Tony Robbins. Everyone who has an hour conversation with him has a life-changing experience. He is sharp and he knows what questions to ask to trigger people to think. He is just amazingly powerful.

What has been the biggest challenge you’ve faced, and what did you learn from it?

The biggest challenge was to raise funds from venture capitalists. We went through so many rejections in that area and were stuck for four years.

Later I realised it is my limiting beliefs that kept me stuck. Things that I chase do not always have good outcomes but the things that come easily and naturally are usually the best option.

What man-made innovation confounds you? Why?

Smart phone and computers. They are two wealth-generating machines that I can’t go without. They are also the best investments as they bring me limitless possibilities and I spend the majority of my time on both of them.

Malaysia’s greatest brand.

Petronas Twin Towers. It is an icon that appears everywhere in Malaysia. Whenever there is a need for a visual to explain Malaysia, the Petronas Twin Towers will be there. The majority of the buildings in KL are designed to face them and the units that have a KLCC view demand significantly higher prices. It is a brand that creates the most impact in Malaysia.

What are the top three factors you would attribute your success to?

• Whole and complete – feeling that I am good enough and am proud of myself is the most important factor. Despite all the imperfections, I am unique and I am amazing.

• Creations – when I feel good and proud of myself, I am vulnerable enough to create creations that others can feel and understand. Every creation is an art form and it has elements of the best qualities in me. To upgrade my creations, I indulge myself in a variety of life experiences.

• Contribution – with greatness comes responsibility. It is important to be a leader and be the source of impact and change in this world. The more contributions I make in this world, the more sense of belonging I have to this world.

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