Danny Yeung – Transcript

In this episode we speak with Danny Yeung who is one of Hong Kong’s local heroes. A serial entrepreneur who is best known for having exited a group buying company that he started in 2010 call uBuyiBuy. Danny sold this company to Groupon only six months after he launched it. He was not the first player in this market in Hong Kong at the time, but his company was the best executer.

After the exit, Danny agreed to stay on for four years as the CEO of Groupon East Asia. Once again, he got the entrepreneurial itch and decided to leave to start a company, this time in a completely new industry, bio-tech. His latest start up is called Prenetics, which falls under the larger umbrella of pharmacogenomics. Pharmacogenomics is essentially the testing any analysis of a person’s DNA to understand exactly how his or her body will respond to certain medication.

Danny’s building a very interesting company. He’ll be one of the speakers at the health tech event this Friday, January 20th, which is part of the Start Me Up Hong Kong 2017 festival. Let’s get on to the show.

Jay: Danny, thank you so much for joining us today on the Jay Kim show where we discuss entrepreneurship in Asia. I’m very excited to have you on the show. Perhaps for our audience who in Hong Kong probably has heard of you, but perhaps outside the region or may be listening in the U.S. or in Europe, maybe you can give us a little introduction on who you are and how you became an entrepreneur.

Danny: Thanks Jay for having me on the show. I’ve very excited to be here today. On my background wise, I started entrepreneurship at the age of 12, I would say, when I started selling baseball cards after school. That was when I really realized about buying low and seeling high.

Jay: Uh-hmm (Affirmative).

Danny: I did that very early. Of course, I didn’t think of it as an entrepreneurship at that time, but reflecting back I think that was my first [inaudible 00:02:42]. Then I started working when I was at the age of 15 as a telemarketer. At 18, I started to work in internet companies. That was really when I felt technology and how it was really impacting a lot of lives at an early stage. At the age of 25 I started my first true business selling Hong Kong style desserts in San Francisco.

Jay: Oh, okay. So, how did you manage that whole thing? How did you even stumble upon that idea and obviously how did you generate that connection to bring that over?

Danny: Sure. I think an idea is always an inspiration of something that we see, hear or feel, right? So, with that inspiration I was traveling once a year back to Hong Kong and I really liked this Hong Kong dessert chain called Hui Lau Shan.

Jay: Uh-hmm (Affirmative).

Danny: Hui Lau Shan Mandarin.

Jay: Yep.

Danny: I was like wow, this is rally good stuff How come it’s not available in San Franciso where I used to live? By that thought process, hey, somebody should do it and then I was like why not me? Then so that’s where I had the original idea then I co-called Hui Lau Shan in Hong Kong. I was like, hey, you know, this is Danny from San Francisco. I’m very interested in seeing if you guys would be interested in franchising-

Jay: Right.

Danny: … their store into Hong Kong given San Franciso has a large Chinese population.

Jay: Uh-hmm (Affirmative).

Danny: There would already be high brand awareness, right? Right off the bat.

Jay: Right. Right.

Danny: And certainly, yeah, they said, oh, okay. This young kid, this stupid young kid wants to pay us … For them, they were a very family oriented business who didn’t have much to lose.

Jay: Right.

Danny: Then for us, for myself here, it was a very good opportunity to start my first business.

Jay: Yeah, definitely. So, Danny, let’s take a little bit of a step back because this is something I like to discuss on this show is the entrepreneurship mentality and culture within Asian culture. So, I think for the most part … And I speak from, I’m U.S. I’m from the states and my parents are first generation immigrants into the U.S. So, entrepreneurship to them was not in the realm of possibility for me. It was … They were first generation immigrants, they were doing everything they could to provide food on the table. So, their solution for me was to go school, get a good job and then their job would be done. It wasn’t encouraged. It definitely would have been difficult for me to just say, hey, mom, dad, I’m going to go try to start a business instead of going to work on Wall Street or becoming a doctor, right?

So, how was that whole process in your family? Did you did resistance, or did you did support from your family, from your immediate family for you to become an entrepreneur.

Danny: Actually, Jay, I actually share a lot of what you went through. In terms of being even my parents were not entrepreneurs.

Jay: Right.

Danny: We immigrated to the U.S. in 1984. Growing up wise I always saw basically, they were always constantly working. I really wanted to not always constantly work, but I wanted to actually do something really impactful.

Jay: Uh-hmm (Affirmative).

Danny: Basically, work smartly and at one time be able to provide a great future for my self, my parents and my family via entrepreneurship. Certainly I think in the beginning they weren’t always not so receptive to entrepreneurship. I think once I showed them a little bit of traction a little bit of success then each reiteration along with the path, they come to accept it.

Jay: Yeah.

Danny: Of course each new business idea I take in, the risk become greater and greater.

Jay: Right.

Danny: I think given the experience, the track record, I can’t see another path besides entrepreneurship for myself right now.

Jay: Yeah, I think that you bring up a good point. I think this resonates with a lot of entrepreneurs that perhaps have gone through the same sort of family background and struggle to sort of prove themselves. In the end, whatever it is, whether it’s schooling or maybe it’s your first job or maybe your first entrepreneurial pursuits, at some point you have to prove yourself. You know, your parents aren’t just going to … It doesn’t matter if your parents are conservative or liberal, Asian, Western, you still have to somehow prove yourself that you are capable and competent to go off and do your own business. I think that cam come in different forms. Some parents are open right after school to let them try, let their kids try and fail. Other people are more conservative. They say when you make all your money first in a stable corporate job then you can try something else entrepreneurial. So, I find that fascinating.

Luckily at a young you proved yourself, apparently. You were able to start the dessert business. You’ve done that, so that was you sort of first real entrepreneurial pursuit. Now, let’s talk about your next one, which is probably the one that brought you to Hong Kong that most people know you by, right?

Danny: The one before that, which was the hotel furniture business. That was also by opportunity, as well. Each of the businesses I’ve work on in the past are [inaudible 00:07:56], was never things that I actually intended to do. It was just by opportunistic insight. So, yeah I saw opportunity in it, I’ll try it and see if it actually works and just make sure that I’m very knowledgeable about that.

The hotel furniture business I came upon after three years I was doing the dessert in San Francisco. It was okay, but it basically wasn’t to the point where it was like an awesome business. Which then basically scaled to 20, 30 stores, which was my original ambition, was still very profitable but it couldn’t get to 20, 30 stores.

Jay: Right.

Danny: So, I had an opportunity to do a hotel furniture business via a friend, which was basically designing hotel furniture. She needed help, basically, sourcing for furniture.

Jay: So, what did you do with the dessert business? Where you able to exit that?

Danny: I sold it to my cousin, actually.

Jay: Oh, okay. That’s nice. Keep it in the family.

Danny: Then with the hotel furniture business, I actually had zero background. You took a business that I had zero background in it, so at that time how I actually found factories to start sourcing was via Alibaba.

Jay: Oh, okay.

Danny: At that time was not like Alibaba today, right?

Jay: Right, it’s like original form. 1.0 Alibaba.

Danny: Right. Very few people actually knew what Alibaba was.

Jay: That’s right.

Danny: I thought, hey, this is a good platform. I was able to find suppliers there and basically I was bridging the gap and sourcing from China and selling back to hotels in the United States.

Jay: Wow, okay.

Danny: Certainly the first year I was there was mentally tough as a few company. Doing hotel furniture you’re against a lot of much bigger established hotel furniture companies.

Jay: Right.

Danny: Through lots of cold calling, lots of begging people to take meetings and lots of perseverance I was able to show value by how you understand the customer, their needs and the customer journey. Also, certainly have good furniture produced for your customers.

Jay: Right. What was your value proposition there? Was it both price and aesthetic design that you could sort of customize to what they wanted, or … I imagine that most hotels would have sourced very stock type furniture, right?

Danny: These are customized designed furniture. Then so certainly one thing I think that was key I did … Given this is an entrepreneur show … One thing I did do at that time … So, I negotiated with the China factory to let me use their name as a company in the U.S.

Jay: I see, okay.

Danny: So, to the end user, it was not seeing like a middle man. I was just directly basically employed by the factory in China. I was basically the head office.

Jay: Very smart.

Danny: Certainly I think it’s key that when we [inaudible 00:10:53] worked with MGM, City Center, which is like a five billion dollar Western project, right? We furnished over 2,000 units of everything when you flip upside the room. When you’re talking about that scale, that type of companies, they don’t want to work for a middle man. They can afford to go direct, right?

Jay: Yeah, definitely.

Danny: Their buying always direct.

Jay: Wow, that’s very smart, savvy of you to negotiate being able to use that brand. Okay, so, you did that and then you again, once again, you decided that you wanted to … You had an entrepreneurial itch so you decided that it was time to move back to Hong Kong. What happened to the furniture business and what led you to Hong Kong?

Danny: Sure. Basically after the financial crisis, the large hotels, they weren’t building as many hotels and they used to, right. I mean a lot of them actually couldn’t get financing. I was still doing okay, working on smaller hotels, not the 2,000 room hotels. Then once of my close friends just sent me a link telling me about Groupon. This was basically in 2010, February of 2010.

Jay: Yep.

Danny: The link would basically say they just raised $950 million in the USD. I was looking at their business model, wow, this is a very simple business model. I loved the idea of it-

Jay: Right.

Danny: … that we can actually gain customers to your restaurants. That’s what I did previously, so I saw the value in that right away.

Jay: Right.

Danny: I was like wow, that’s a lot money at that time. You’re talking about in 2010. Even though right now that’s a lot of money, but there was tons more companies raising that much now or even billions more, right.

Jay: Yep.

Danny: In 2010, Groupon was the talk of the internet world.

Jay: Yes.

Danny: So, I was thinking, wow, great idea. I loved the idea. The first thing I did after I read that link, I called up my cousin and said can we do a Groupon deal in your store? I just want to test it out. I want to see the user experience. I want to see if this really brings new customers in.

Jay: Right.

Danny: Within one week we were able to start a big deal. The results were 500 new customers bought a voucher in basically 24 hours. Within the next day the restaurant got [inaudible 00:13:03] new customers.

Jay: So, this was in Hong Kong?

Danny: In San Francisco.

Jay: Okay, so you actually beta tested it in San Francisco.

Danny: Yeah. I was always living in San Francisco.

Jay: Right. Okay, okay.

Danny: I was always living in San Francisco. So, I beta tested it in San Francisco in 2010, February. By March 1st I was already on a plane to Hong Kong. Within a span of one month I packed my bags. The furniture business I actually negotiated with the factory to give me royalties for certain number of years after I left.

Jay: Wow, nice.

Danny: So, because basically my value was the customers, right?

Jay: Right.

Danny: I had that but I really knew that I needed to be in Hong Kong. I loved the idea, but there was no way for me to compete in the U.S. against Groupon.

Jay: Right.

Danny: So, I had to chose. Where would this business model make sense-

Jay: Perfect.

Danny: … and launch it … That I could go to and basically go to and launch the model.

Jay: Right.

Danny: So, I moved to Hong Kong March 2nd, 2010. By June 28th 2010 we had our first deals live in Hong Kong and Taiwan.

Jay: That’s very fast speed to market, execution. I think you mentioned before, not on this call, but, in previously I know you’ve mentioned that when you arrived, you definitely weren’t the only player in the group buying space, right?

Danny: There was already a ton, all right. When I planned that I wanted to be in Hong Kong, there was probably none, but even with in that one, two month gap there was already … I think we were the fourth company that launched.

Jay: Uh-hmm (Affirmative).

Danny: Then within three months after we launched, at one point there was 57 competitors doing group buying in Hong Kong. Hong Kong’s not a big place, right.

Jay: Right, right. So, what made the difference? How did you accelerate your growth to the point where you got on Groupon’s radar for the exit. How would you differentiate yourself from the 57, however many other competitors that were out there?

Danny: Number one, I knew we were the market leader already from our first day until when we were actually acquired. Our revenues were growing crazy. That’s where we definitely by far number one, market leader. Then I was the only one that out of all the 57 that actually cold called Groupon CEO Andrew Mason at the time.

Jay: Wow, nice.

Danny: It was just one random night. I remember in September it was 1:00 a.m. in the office. I was like hey, it would be interesting if I would call Groupon and ask for Andrew Mason, see what he would say. Of course, he didn’t pick up the phone, but I left a message saying this is Danny. I’m a company called uBuyiBuy and would like to see if you guys are interested in a partnership.

Jay: Right.

Danny: I didn’t think anything of it, but seven days later someone emailed me back said they were with their [inaudible 00:15:56] A team, said you left a message for Andrew, how can I help? I gave them some stats of what we were doing. They found it very interesting and exciting. Then they flew me out to Chicago a few weeks after that. That’s how it got started.

Jay: Wow. I’ve never heard that part of the story. I think a lot of people know about your exit to Groupon, but they don’t actually know how you nailed it.

Danny: You have to start somewhere, right? My few close friends know about that story.

Jay: Wow, thank you for sharing that with the audience. I think that’s fantastic because I think that the ability to … It’s sales, is basically what you did. As a start up founder, as an entrepreneur, you have to always be selling, right? You have to be able to have that thick skin and be pounding the pavement, picking up, cold calling people. Be able to just deal with rejection and not let it bother you. Just keep going and keep going, keep going. It sounds like you did just that to secure this exit.

Danny: Right. Exactly. I always refer to sales as it’s a science. You can’t be selling, you have to provide information and let other people make that decision. Even a lot of times today when people find me on Linkedin, I actually appreciate them finding or researching things about myself because it shows their willingness. It shows their proactiveness-

Jay: Yep.

Danny: … to how their thought process is.

Jay: Yep. That’s right. Exited Groupon, so, it was essentially later that you exited.

Danny: Yeah. So, basically we launched June 28th, 2010. After six months, on a monthly basis, even before the exit, we were already doing 1 million USD monthly revenue.

Jay: Wow.

Danny: We only had 11 people at that time.

Jay: Right.

Danny: So, we acquired it majority stake in the company in 2010. We had 11 people. When I left Groupon we were already doing about 130 million annual revenue. It was [inaudible 00:17:55] about 300 people when I left in 2014.

Jay: Wow. Okay. They basically took over and they kept you on for X amount of years. Was that the arrangement?

Danny: Yes, correct. It was a three year vest-

Jay: Okay.

Danny: … and of course through the three years they provided the capital. Of course, they pretty much, in terms of the business size, let us execute in terms of the business size and just using the resources that they were giving to us.

Jay: Right. Okay, wow. So, basically … And this was you and your partners as well? Everyone, the original team had to stay on for the three years?

Danny: When we started I was the only operational guy.

Jay: Okay.

Danny: Certainly me and my partners we funded the company margin 50,000 USD originally to get started, right.

Jay: Okay. This is pretty interesting. So, four years you stayed on. You waited until the vesting was over and then at some point the entrepreneurial itch came up again and you decided that you wanted to try something else, right?

Danny: Yeah. So, certainly, at one point I always knew after the vesting I would do something again because it’s just … I knew that industry in and out, right?

Jay: Right.

Danny: There wasn’t new stuff that we weren’t going to be learning and at that time, too, Groupon stopped being innovative.

Jay: Uh-hmm (Affirmative).

Danny: Right? If you think about it, in 2010 they were already a $6 million company.

Jay: Right.

Danny: Today they’re probably like 3 billion.

Jay: Right.

Danny: At the same time, Airbnb was valued at 3, they went to 30.

Jay: Right. Yep.

Danny: Even Uber wasn’t around in 2010.

Jay: Yeah.

Danny: When I left I think … Innovation constantly has to happen-

Jay: That’s right.

Danny: … around any company. Even if you’re a large company because then that’s the biggest scare or biggest risk is the lack of innovation. That’s what really [inaudible 00:19:44] happens. So, when I left I started … The natural thing was basically to take a little bit of a break and start investing in early stage companies,-

Jay: Right.

Danny: … which I did. I got a little bit bored of that after a few months. It’s like hey, I still felt like I still have a lot of pride left-

Jay: Yeah.

Danny: … a lot of motivation, a lot of commitment to give. So, I really looked into what are some interesting industries that I haven’t done before-

Jay: Right.

Danny: … and, which I think could make an impact, so I looked into education and health care. These are two industries, which also in Asia, there’s not that many entrepreneurs tackling [inaudible 00:20:25] the space.

Jay: Yeah. It’s interesting that … So, education I know. I’ve looked into that myself personally and it’s a huge vertical that I’m very interested in myself, personally. When you say health care, usually … So, now this is where this is interesting to me because it seems like you tackled, you literally aggressively went after the hardest segments in the market to go after. I don’t know if you have any sort of medical background. It seems like you don’t.

Danny: I don’t. I [inaudible 00:20:56].

Jay: Yeah, exactly, so what made you want to literally dive head first into health care and say, you know what, I’m going to go tackle that?

Danny: You have to try. You have to give it a shot first, right? That’s what my experience … It’s something I don’t think I would have been able to do that with the previous three businesses experience.

Jay: Right.

Danny: If you think about it, each business, regardless of what industry it is, how do you provide really strong value proposition? How do you solve the supply and demand on both sides? That comes down to the core of it. Certainly I felt that if we had a very strong value proposition in place then it is something that both consumers and customers and on the supply and demand side, both sides would win and win, right?

Jay: Right, right.

Danny: That’s where I saw genetics and genomic testing as something that the awareness level in the U.S. is much higher, but even today in Asia, Southeast Asia most specifically, it’s still quite low.

Jay: Right. So, that was my next question. You just led right into it. Let’s talk about Prenetics, your current company that you’re building and what exactly if pharmacogenomics?

Danny: I would say, so currently Prenetics, we co piloted basically in 2014.

Jay: Uh-hmm (Affirmative).

Danny: What we did was there was an existing company called MultiChain Diagnostics Limited. It was around since 2009. In 2014 the professors and scientists came to me for funding.

Jay: Okay.

Danny: I found it very interesting, very exciting, a very passionate team, but they were lacking on the commercial side. This is where me and my few close friends would put in our own funds into the company. About 2.3 million USD at the time.

Jay: Wow, okay.

Danny: Then it was like, we’ll fund you guys but on one condition that you come onboard and we’ll rebrand the name, change everything around and basically I joined onboard as the [inaudible 00:22:58]. At that time the company had 11 people and it was struggling on the commercial bases. For two years today, which is about 24 months ago, we are now the largest genetic testing digital health company in Southeast Asia.

Jay: Wow.

Danny: We have a team of over 55 people. We own and operate our own 8,000 sq feet genetics laboratory in Hong Kong.

Jay: Wow.

Danny: What we do is we are focused on neutralizing mobile technology along with DNA technology and creating digital solution programs for large insurance companies. What we reply is really on prevention, right. How we look at is health care is transforming, right? I think previously a lot of care was focused on treatment. Once something happens you’re treated and everything gets well, right?

Jay: Right

Danny: If we look at it, prevention is a much greater need. If you’re about to prevent something nobody really wants to go see a doctor … Nobody really want to make a claim to your insurer unless it’s [inaudible 00:24:07].

Jay: Yeah.

Danny: What we do is we have multiple tests that we launched last year. Our first test that we launched last year was called the iGenes test. This is a DNA test to identify the most optimal drug response in individuals. This test, what the problem this solves is adverse struggle reactions.

Jay: Right.

Danny: Typically, you go to the doctor today, the doctor will say hey, here’s some medication. If it doesn’t work, come back and one, two, three weeks, tell me how you feel, I’ll switch [inaudible 00:24:34].

Jay: Uh-hmm (Affirmative).

Danny: Due to new technologies and the drop in cost of DNA sequencing, we can perform DNA tests on an individual and tell you which drugs will hurt you, which drugs will help you before you even take it.

Jay: That’s very powerful. Even when you go down the very basic level of nonprescription drugs … Even personally, I’ve taken, for example, a very simple example is allergy medicine.

Danny: Yeah.

Jay: Some times I take certain allergy medicines and it just really overwhelms me and I can’t handle it. It just makes me feel really bad, whereas others it just works very well. So, this is a perfect example where I could use some of your testing to figure out exactly which one I should take, right?

Danny: Exactly. This is really due to the way individuals metabolize. There’s four different metabolizer states ranging from very fast, intermediate, normal and poor metabolize. The way an individual metabolizes, that’s the way a medication will absorb into your body. So, that explains the differences in reactions towards each individual.

Granted, the majority of people are normal metabolizers, so we’re talking about 60 percent of the population are normal-

Jay: Right.

Danny: … and that’s what happens to the other 40 percent, they’re not normal.

Jay: Right, so they’ll struggle in some way when they take the drug the same way as the 60 percent would not be affected.

Danny: Then that’s why on all drug labels you will see there may be conditions, right?

Jay: Right.

Danny: So why do we ask [inaudible 00:26:06], we’re [inaudible 00:26:08] that technology today, why are we still taking this trial and error approach?

Jay: Right. Wow. Okay, so what at what stage are you now? You have the tests that are available for the medical community at this point?

Danny: Yes and insurance companies.

Jay: Insurance companies, okay. So, this is a product available that is out there?

Danny: Yeah. It’s out there for insurance … So, right now we [inaudible 00:26:36] has focused mainly on insurance customers. That’s just due that we’re able to get significant scale with them.

Jay: Uh-hmm (Affirmative). Yep.

Danny: Certainly we wanted to say which parties had the most vested interest, right to have healthier policy holders. [inaudible 00:26:52] our customers can ultimately benefit as well.

Jay: So, insurance is obviously a huge segment for you. What do you have … Let’s look at Prenetics 2017. What are your goals for this year for your company and what sort of … the next question after that is what sort of trends and up trends do you see in the coming years for your company?

Danny: In 2017, we’re more and more moving and transforming ourselves from purely a genetic testing company to a digital health company.

Jay: Uh-hmm (Affirmative).

Danny: What that composes is that we have a new test that’s on the market so we launched myDNA late last year. That is a genetic test on to understand how nutrients, vitamins and diet are affected by your DNA. This also plays a role into your exercise, right? Certainly not a one diet doesn’t fit for everyone.

Jay: That’s right. Yeah. Absolutely.

Danny: We can actually figure that out with your genetics. Along with that information we created digital apps. Of course that’s my background in eCommerce and such, to help you continually engage yourself.

Jay: That’s great. Yeah.

Danny: For example, it gives you an on-demand dietician, so if you have any questions about [inaudible 00:28:02] or if you have trouble losing weight, within your mobile phone you have a dietician on-demand.

Jay: Wow, that could be very cool and very highly sought after especially when you know it’s for you because by DNA.

Danny: Yes. It’s very personalized to be able to see how you absorb carbohydrates. For example, I’m highly sensitive to carbohydrates. Everyone knows that consuming too much is not good but it’s your own data and by me limiting carbohydrates, a very simple thing I did, I still ate it, I lost like 12 pounds within eight weeks period of time.

Jay: Wow, nice.

Danny: You’re sensitive to it so you’re much more prone to it than the normal individual.

Jay: Yeah. This sort of data is very powerful because it could literally change your life, right. If you use it, apply it properly.

Danny: And it gives you data to achieve an optimal diet based upon your genetics.

Jay: Right. Right,

Danny: For 2017, our goals are to basically have overseas expansion throughout Southeast Asia. We’re looking to basically grow our team size from about 55 people, we expect to be over 100 people by the years end and have a presence in Singapore, Malaysia, Thailand, Indonesia.

Jay: Wow. Very nice. That’s basically it, you’re hitting all the big insurance companies, those are their big markets as well, right?

Danny: Correct.

Jay: It falls in line. Okay. Then let’s say two to five years time, what plans do you have for the company? Are you actively searching for an exit? Are you looking bigger? Are you looking IPO? Will you be Hong Kong’s first unicorn? The billion dollar question.

Danny: Right now we’re definitely not looking for an exit. It’s way too early. I’m having so much fun doing what I’m doing right now and just seeing the potential …Because I think what’s different between this company and my previous company is I see a much needed gap in terms of what available today and what should be available.

Jay: Uh-hmm (Affirmative).

Danny: Right? That’s really the way how we treat health care-

Jay: Yep.

Danny: … I think. So, we have a lot of opportunity for that. We are well positioned to do that. I feel that where we are today given our traction, our momentum and our current partnerships, around current infostructure that we set up we’re well positioned to be a dominant leader in the space of genetic testing digital health across Southeast Asia. Right now we’re just fully focused on growing the team all throughout. Also, [inaudible 00:30:46] a full pipeline of new products that we want to launch out later this year. Always looking ahead two, three, four, five years down the road. I’m so properly well positioned for that and continue to innovate on our current products.

Jay: That’s great. Good answer. One last question for you, Danny, and I do appreciate your time. You’re obviously a serial entrepreneur, very successful. You had a number of companies that have done very well in very different markets. If you were to give one piece of advice to a young aspiring entrepreneur that is perhaps followed you and seen how you went into these companies and these markets that you knew nothing about but somehow you went in such zeal and such determination that you were able to create successful companies and either exit them or sell them; what’s one piece of advice that you would give to some of our younger entrepreneurial audiences that aspire to be like you?

Danny: I would say always focus in on the customer, right. Think from the customer perspective. What is it that you can bring to the table to your customer that we can add value. A lot of times, if you’re able to understand a customer’s mindset and pretend you’re the customer, hey, how can I actually get that sale? What is it that you can gain from the value of proposition. It has to understand what other companies are out in the market and how you differentiate. So, what’s your unique selling proposition? How are you better? Why should your potential customer choose you verus not the other companies?

Jay: Yep.

Danny: So, you know, entrepreneurs should really understand the unique selling proposition and not look at it from themselves, step into the customer’s shoes. That’s something I’ve always tell my team is that every single time we talk to our customers that’s an opportunity for us to shine, for us to deliver more than we promised. To continue to always deliver that, so they’ll see wow, these guys are awesome.

Jay: Wise words. Thank you, Danny. Thank you so much for your time today. I had a really good time catching up with you. Where can people find you, connect with you on social media or website if there’s anyway they want to find a little bit more about what you do at Prenetics?

Danny: Yeah, sure! You can definitely can connect me with Linkedin.

Jay: Okay.

Danny: Danny Yeung, Hong Kong.

Jay: All right. You’re company website’s prenetics.com, right?

Danny: Right, prenetics.com.

Jay: Okay! Fantastic.

Danny: All right.

Jay: Thank you again, Danny for your time. Danny, you are speaking on Friday during the Health Tech Vertical, is that right?

Danny: Yes, correct.

Jay: Okay. So, guys and gals, go over to … You can go online and you can look up in the Start Me Up Hong Kong 2017 Festival website. You can get your tickets there for the Health Tech Vertical, which is this coming Friday, January 20th. Danny will be one of the keynote speakers. Thanks again for your time, Danny, much appreciated. We’re going to have a really good time this week. Take care.

Danny: Thank you, Jay.

Jay: All right.

Danny: All right.