Ever since we have started Entrepreneur’s Insights, we have been hearing a lot of feedback from the readers that they would like to hear more entrepreneurial stories from Singapore. We are aware that for the past 1 year, The Neo Dimension might have disappointed some of the readers for not bringing enough of such stories.
To kickstart 2018, we would like to shout out to our readers “The wait is over!” We are publishing an QnA with not 1 but 2 local entrepreneurs from Whiz Communications (WhizComms) – Chiang Chee Cheong, Managing Director and Jason Kuek, Deputy Managing Director. .
Mr Chiang and Mr Kuek started Phoenix Communications in the 90s as a callback operator and subsequently expanded their arena to International Direct Dialing Services (You remember Phoenix IDD?). In November 2016, they have ventured into the ISP space and started WhizComms
1.Whiz Communications(WhizComms) is a new entrant in Singapore’s ISP market. Do you mind give a short description of the company as well as your rationale of venturing into this space?
Chiang – WhizComms is a telecommunication company providing home broadband and IDD service. We rolled out our business in November 2016 and currently we have a staff strength of 20.
As an ISP, our primary objective is to provide high-speed Internet service to all residential homes in Singapore.
As Singapore is moving towards a smart nation, we saw the potential growth in these areas. Fibre Broadband has become the essential service for the home. We want to make it easy and affordable for all.
2.Technology sector is growing exponentially in Southeast Asia region (SEA). As a seasoned professional in the Telecommunication field, what’s your views on future development of SEA Telcos or ISPs?
Chiang – Telcos and ISP will continue to be equipped with high-speed infrastructures to cater for technology advancements. Besides infrastructures, service providers will also be looking into providing solutions such as IOT, Cyber Security, AI and Data Analytic as part of the trend in the industry.
3. There are many ISPs that offer more comprehensive and wider range of services. How is WhizComms different from others?
Chiang – Our fundamental goals remain – we provide affordable solutions to cater to our customers’ basic essential needs. We un-bundle telecom services so that customers only pay for what they need. Our pure broadband no frills service has been the lowest-priced of its kind in town from the start of our business. We also help customers to solve WiFi coverage problems at home by introducing WiFi clinic service to customers who are less technically inclined. We are also amongst the first to introduce mesh WiFi solution to improve home WiFi coverage and un-interrupted internet surfing.
- What are the challenges or opportunities for WhizComms in the next 3 years?
Jason – I foresee that there will be more entries from ISPs players, and this will bring the overall prices down. Other than bracing the price war, we will need to deliver our commitments to our customers to stay competitive. As IOT (internet of things) advances, we will want to introduce them to customers at an appropriate time to meet their day-to-day need.
- What is the significant milestone that WhizComms has achieved in 2017?
Chiang – After one year of operation, we have significant amount of customer subscription base. We believe this is due to our sincerity and genuinity in our service offering, and customers see the true value we offer. We have managed to deliver what we have promised. We will continue to impress our customers with our services.
- You are a seasoned entrepreneur. What advice will you give for our budding entrepreneurs or people who want to start a business?
Jason – To start with, you must have a good and realistic business plan, followed by sufficient financial fundings to run your businesses operations. The calibre of people or partners managing the business are very important. They need to have good acumen in identifying risks and returns in their overall business. Team work and trust must be established across the organisation hierarchy to grow the business as planned.
Any business that will help customers to solve their problem is a good business. As an entrepreneur, look for areas that customers need help. After identify the business, a proper business plan will have to be developed including the technical knowhow, funding, and the people.
- It is said that every entrepreneur has their own set of checklist while evaluating a venture. As an entrepreneur, do you mind sharing with us yours?
Jason – I will be definitely be looking for potential revenue drivers that can bring in sustainable income. Of course, the cost of operations and as well as the potential of growth in the business are also critical. A good business plan will be very helpful. More importantly, we must maintain a good balance sheet on the financial and a healthy cash flow.
Also published on Medium.