#healthcare #pharmacy #business
Medispec’s Teng Beng Lee — From Fighter Pilot to Successful Business Exit
From humble beginnings in Penang, Malaysia, to wanting to become a fighter pilot in the Singapore army and then into business having obtained his first product from Thailand, determination marked Teng Beng Lee’s success in business.
(Vistage Malaysia engaged Do More to conduct this interview. Vistage is the world’s largest CEO coaching and peer advisory organisation for small and midsize business leaders, with over 27,000 members worldwide.)
00:00:51 – Hitchhiking to Singapore to Become a Fighter Pilot
00:03:10 – A Sister’s Help to Starting in Business
00:03:58 – No Such Thing as Failure
00:04:26 – The Power of Passion
00:05:34 – How Beng Lee Secured his First Medical Product .. at the Expense of Sime Darby
00:08:21 – Growth .. How?
00:09:00 – Business Principles to Live By?
00:09:42 – Healthcare: Recession-Proof
00:10:05 – Why Only Asian Generic Drugs?
00:11:17 – Why Exit?
00:11:57 – Creating Value for an Exit: How?
00:12:55 – Fighting Complacency
00:14:12 – Why Become a Businessman?
00:15:00 – What It Takes to Succeed
00:15:28 – How to Stay Motivated
00:16:38 – Why Sell and Not Keep?
00:17:31 – The Process of Selling to Ekuinas
00:18:10 – Post-Retirement Plans?
00:18:57 – What’s Most Important Now?
00:19:19 – Advice to His Children?
00:19:52 – Investing Advice?
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