5 moves that helped this founder survive the startup roller coaster for 16 years

Photo credit: Pixabay.

Entrepreneurship is a tough journey filled with many ups and downs.

Andy Ann, CEO and founder of NDN Group, came in to share with our Betatron Startup Accelerator cohort in Hong Kong some of the insights and tips he’s learned from his entrepreneurial journey.

He had a roller-coaster ride, which started shortly after he quit his job at Ogilvy & Mather in 2001. Since then, he has truly lived the definition of being a “serial entrepreneur.”

Over the last 16 years, Andy has built and exited multiple businesses (along with several failures, too), which began with his first venture in the events industry in Lan Kwai Fong. After being in the events industry for a couple of years, he recognized an opportunity and spotted the potential of building a digital advertising platform. This led him to build Hot Media in 2004, which is now used across lifestyle locations in Hong Kong such as Karaoke bars, McDonald’s, coffee shops, and gyms.

As technology developed over the years, so did the complexity of his advertising platforms. Andy launched other startups in the same industry including Hotmob in 2007, which was a pioneer in the mobile marketing sector, as it offered a mobile advertising marketplace for both advertisers and publishers.

Klarity is his latest venture. It is a data-driven solution for enterprises that transforms big data from social media into reliable and actionable social intelligence.

Here are some of the main takeaways from his journey:

1. Allocate time to improve yourself

One of the first tips he shared with us was that being a successful entrepreneur isn’t just about improving your business knowledge and skills. You have to focus on improving yourself too by allocating time in your schedule to focus on personal development.

It’s critically important for entrepreneurs to understand themselves, especially when it comes to mentally dealing with the inevitable ups and downs of launching a startup.

“You can truly hit rock bottom, but you can also feel the biggest highs. Unlike being in the corporate world, where the ups and downs of having a job are less severe.”

Because of this, Andy spends three months of every year just focusing on improving himself. He takes courses, reads books, and talks with mentors.

If your business isn’t growing, ask yourself: Is it because you’re not growing as well? Your business can only improve to the level of your personal growth.

2. Outwork your competition

3. Use a startup’s advantage of being able to move fast

4. Be creative to close deals

5. Take a hit in immediate income for long-term recurring revenue