What Matters To Me: Goh Yiping, Founder Of All Deals Asia And Partner At Quest Ventures
In the What Matters To Me series, a Generation T honouree describes what they do, why they do it, and why it matters.
Goh Yiping’s first startup, World Indigo, developed mobile phone roaming services for passengers on planes and ferries. Then she hit the big time with her second, online retail deals aggregator All Deals Asia, which was bought by Indonesian conglomerate Lippo Group when Goh was just 28. Now, drawing on her entrepreneurial experience, she’s a partner of venture capital firm Quest Ventures, where she is helping to groom the next generation of startup leaders with her distincly “pro-founder” approach.
Here, Goh introduces her work in her own words.
I was inspired by my parents to become an entrepreneur after seeing the successes and failures of their humble hawker business when I was growing up. While it may have deterred some from running their own business, it mentally prepared me for the entrepreneurial journey and made me fearless.
Entrepreneurship is tough, especially on the mind. You may start with an idea that you really love, and then realise that it has to evolve or pivot to a point where you don’t recognise it any more, because the reality is that it also needs to be relevant, monetisable and able to gain traction with its target audience.
I enjoyed being a founder and being at the front line of running a business, but I started to wonder how I could make a greater impact and harness my connections and experience to help others build their businesses. I joined a venture capital firm because I wanted to work with startups. We’re strong supporters of the founders we work with because we’ve been in their shoes before. We always make sure that they know we’re in this journey with them. I can bring founder empathy to the table to help them cross the ‘valley of death’ [the period between a startup receiving financing and starting to generate revenue, when cashflow is often an issue] by sharing with them the successes and mistakes I’ve made as an entrepreneur. I not only look out for founders who are hustlers and have fire in their belly, but also whether the market is ready for their product.
I cannot sit still, even when I’m on holiday. I want to make full use of my time, because time is limited, after all.