So you’ve got a startup? An Apac leader, a VC and a fashion brand founder share tips for success

TWO recent events inspired this contribution for me: the recently-concluded Formula 1 Singapore Grand Prix and the annual Asia PE-VC Summit, both of which are usually held in the month of September.

Motor sports fans recently experienced the excitement of the F1 Singapore night race. What strikes me, though, is the fact that while its drivers undergo rigorous preparation in their pursuit of excellence, they are supported, very crucially, by a high-performance team in the pit. Each split-second decision taken during the race can change the outcome in an instant.

At the Asia PE-VC Summit – Asia’s largest sector-agnostic private equity and venture capital summit – participants face similar challenges.

Racing and managing a startup may seem unrelated at first glance, but there are interesting parallels between the two. Both require continuous improvement to succeed, rapid decision-making to capitalise on opportunities, resilience for the long term and risk-taking even in tough situations.

As motor racing legend Ayrton Senna once said, “You cannot overtake 15 cars in sunny weather... but you can when it’s raining.” This same point was raised on the second episode of At the Table – a video series I host that surfaces important topics with thought leaders.

This month, I had the pleasure of diving deep into the exhilarating world of startups. I chatted with Rachel Lim, co-founder of Singaporean fashion brand Love, Bonito and Abheek Anand, managing director at Peak XV Partners (formerly Sequoia Capital India & SEA), which handles over US$9 billion in capital across 13 funds and has invested in over 400 companies.

Together, we unpacked the art of building a successful company and shared the lessons that can help leaders win in today’s world of work. Here are some of my key takeaways from our conversation.

1) Be an authentic leader

Being a true leader is all about authenticity. It is about forging real connections and being an integral part of your team. Lim observed that in a world where we often look up to leaders like Steve Jobs or Mark Zuckerberg, entrepreneurs sometimes feel the pressure to mimic their styles, instead of finding their unique paths.

“I learnt the hard way that trying too hard to emulate a leader I wasn’t meant to be, was a mistake,” she said. “Embarking on a journey of self-awareness and discovery helped me shape my leadership style into something authentic, genuine and reflects who I really am today.”

2)  Seize opportunities when they present themselves, even in challenging situations

While we often hear about successful entrepreneurs who seized opportunities at the right time, the reality is that the market is unpredictable. As Abheek noted, “The best founders are the ones who are incredibly resilient in the face of the downs, and are able to double down on the things that are working in challenging times.” 

Whether you are navigating the startup roller coaster or your own career path, the key to overcoming tough times is resilience. The most accomplished entrepreneurs and professionals are often the ones who embrace setbacks as opportunities to pivot, learn, adapt and emerge stronger than ever.

3) Know your purpose; be able to articulate your “why”

In a book I read some time ago, The Startup of You by LinkedIn co-founder Reid Hoffman, he said, “The person passionate about what he or she is doing will outwork and outlast the guy motivated solely by making money.” 

He is absolutely right. At LinkedIn, we are mission driven – we do well, and we do good. Having spent a decade there, I have seen first-hand what is possible when you work with a team that shares your passion and purpose. It is not just a fancy tag line, it is the heartbeat of our organisation, and one that provides a competitive advantage.

Our purpose empowers our people to make the right choices every day for themselves, each other and our members. Abheek summed it up, “Missionary organisations almost always are more successful in the long run than mercenary ones.”

When times get tough, a clear sense of purpose is like a lighthouse that guides you through the storm. It is a driving force that keeps entrepreneurs moving onward and upward. 

Lim agreed: “Entrepreneurship is like a marathon and it is undeniable that there will be tough times. But what keeps me going is having a clear conviction and purpose of why my products and services exist.”

4) Embrace change, stay adaptable, and keep growing

In the fast-paced world of startups, having a growth mindset and being adaptable are the keys to success. In other words, as your business landscape changes, change with it. 

To illustrate this, Lim quoted author and futurist Alvin Toffler: “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn and relearn.”

So it is not not just about accepting change – it is about actively embracing it for growth and looking at challenging times as a real opportunity to take stock of what is working, what is not and where the areas of growth are, in order to stay agile. 

“It is important for founders to have an ability to be very customer-centric while staying market aware... so you can adapt a business strategy that plays into that market environment,” said Abheek.

5) Leading yourself, and your dream team to success

As I spoke with Lim and Abheek, a fundamental principle stood out – successful entrepreneurs are not made overnight. 

The path to success in the ever-evolving startup landscape is a gradual process of self-mastery, personal growth, resilience and continuous learning. This means honing your skills, persistent effort and a deep commitment to your goals.  

Entrepreneurship is also not a journey you can embark on alone. It is important to bring the right people with you and place them in the right roles, in order to succeed.

Whether you are an entrepreneur or professional, remember that overnight success is a rarity. Instead, it is about understanding your purpose, embracing resilience, and unwavering dedication that will gradually transform your aspirations into reality.

The writer is managing director, Asia-Pacific, at LinkedIn