JJ Ang is the Chief Financial Officer of Sendo.vn. Launched in March 2012, Sendo is currently one of the largest C2C marketplaces in Vietnam with a GMV of over US$1 billion dollars annually.
Prior to this, JJ had over ten years of investment banking and fundraising experience and worked across the globe in countries such as New York, Hong Kong, Singapore, Peru, and now, Vietnam. He had also co-founded a merchant bank based in Singapore, which the company had raised close to a billion dollars of growth capital for different management teams over the course of four years.
Discover more details here.
Some of the highlights of the episode:
Follow us on:
Instagram: http://bit.ly/2Wba8v7
Twitter: http://bit.ly/2WeulzX
Linkedin: http://bit.ly/2w9YSQX
Facebook: http://bit.ly/2HtryLd
JJ Ang is the Chief Financial Officer of Sendo.vn. Launched in March 2012, Sendo is currently one of the largest C2C marketplaces in Vietnam with a GMV of over US$1 billion dollars annually.
Prior to this, JJ had over ten years of investment banking and fundraising experience and worked across the globe in countries such as New York, Hong Kong, Singapore, Peru, and now, Vietnam. He had also co-founded a merchant bank based in Singapore, which the company had raised close to a billion dollars of growth capital for different management teams over the course of four years.
Discover more details here.
Some of the highlights of the episode:
Follow us on:
Instagram: http://bit.ly/2Wba8v7
Twitter: http://bit.ly/2WeulzX
Linkedin: http://bit.ly/2w9YSQX
Facebook: http://bit.ly/2HtryLd
Kyler Tan: 0:03
Tyler from Global as our mission is to protect professionals in the second equal Miss System in Asian. By bringing for some of the most interesting story about leaders in being street, I'm happy to have him reverse Geagea, Chief Financial Yourself Send Off Launched in Much Does in itself. Center is currently one of the largest secrecy marketplace in Vietnam, with a GMV of over a $1,000,000,000 annually. Karipidis Jihad over 10 years off investment banking and fund raising experience and have book across the globe. The countries such as Syria, Hong Kong, Singapore, Peru and now he had was a co founder of much in Bang BAE syncing up off Reached the company had Reese close to a $1,000,000,000 off growth capital for different management team over the course of just four years. Hello, Jim. Good to have you here yesterday.
JJ Ang: 0:54
Uh, pleasure's mine. Yeah. Thank you so much for ah, sing.
Kyler Tan: 0:59
Great. So when the economy is under huge stress and companies are trying to stay afloat, even try during this difficult time sharing. So it's a company with 2000 off salvos on partners across Vietnam, and you personally have been in investment banking have been raising funds since the early stage of your career, So I wanted to get your take on the current situation as far as someone. Some advice for the startup said that might be looking for every someone. And that's vice cash banishment. So, Jean, maybe you can start the self introductions, so I'll just get to know us Fall.
JJ Ang: 1:31
Yeah, we're happy to. So I'm actually from Singapore, currently the chief financial officer for one of the largest C two c e commerce marketplace players. They should get known. So I shut off my time between German cities, I gone and Singapore, um, parented that my I guess in that shell of my my career background so far was I study in the U. S. And I started my career and it doesn't banking debt about life in nine years out of New York as well as Hong Kong. Um And so I went through the global financial crisis and, you know, it was a very interesting time. And then, um, 2014 after like nine years of investment banking, I was in Hong call and thought that the learning was stagnating on the sell side transactions and I thought it was the right time for me to do something more entrepreneurial. Ah, while I wasn't like a business owner or founder with some amazing business idea, I want I was for entrepreneurial in spirit. And I thought, How do I best leverage my Asian background? Um, a slow. That's my kind of, like, Western of bringing in the middle part of my years, together with the experience that I perform from a finance than point and put that into to use from the, uh, from a career perspective. So I found it in Merchant Bank in 2014. Move back. Example of my partner. Um, and we especially, uh, in terms of the merchant bank. It was a hybrid between a lesson bank. Well, that's a private equity firm, So we were focused on two things. Number one was very focused on em Ania Soul esa capital raising. So we were successful at that. Extend that, You know, we did like over the course applied makes 4.5 years we raised about opposed to a $1,000,000,000 of capital but different management teams. So gross capital raising became a kind of my bread and butter for me and my partner in the, uh, the Merchant Bank. And the interesting thing was, because we were merchant bank, we were able to most that capital into the fund raising into, like, investments and critic positions. So we also like to positions private equity sell into something simple little companies. So I went from, like, corporate finance into into capital raising. And then, like in 2018 b ah, one of the begin to step over one of the larger kind of companies in my and, ah, there was a restructuring business of the plantation business based in South America. So I went from that from capital raising into operations management and did that sample rule for about two years and after stabilizing that business. But that last year was a time from you to put on my thinking head and there for something else that's living more growing, uh, also more sustainable from a commuting standpoint from the interview gin. That was when I was also starting to get approach by the friends and ice in his B and C such companies in the region to be the CFO, and I thought it was interesting time to join the type of set up the pleasure of meeting on connecting with the founders of Sando and in October last year joined them on board as the CFO. So I've been on the drug for about 67 months.
Kyler Tan: 4:49
Nice. And I believe expertise would definitely help some of our audience unity so juicy. And perhaps you could study some general topics before here they happened. Sit once to given the lock down in many countries right now, including Vietnam and consumer behavior is definitely changing even in the emerging markets. Right? So, micro standpoint, how do you see this current situation affecting bit numb and also in terms off some opportunities and challenges for,
JJ Ang: 5:16
um so that's a great question. So I need to tell you like to think of things from a macro standpoint. So just a couple of votes for my end in terms of, uh, opportunities that I see. So the 1st 1 is that from a macro slime pouring, I think, then numbness. I from quite a few articles, a slow and being being there. You can communities to that that in fact, the positivity I didn't get numbness, poise on for her, for a few years already. This is poised to be murderous. A big dinner and I think that it's going to be accelerates that, um So there's only Corbyn 19 Swell. So two reasons for that on the first, this a z can see the has as a metal very well be covert. 19 infection. Jesus. In fact, today, as of to date, the government has released me This numbers I think you're talking about, like 300 Jesus next on 300 cases, 20 debts. And that's a really on. The biggest reason for that was I like a lot of, like other Southeast Asian neighbors where people could be arguing that the testing it's not as white spread or not as a month. I'm not demented. There should me s like competitive, say, for example, Singapore. I think the number had chosen, just like China, to know too long down like Burberry, quickly in terms off taking like, strong kind of measures from the very, very early stage onwards, both from a travel and from, uh, you know, different neighbors and memberships and my talents. So from that from that perspective, I think they're depend of the the knights interests very well. A second reason why, in a more long term, like you can see, there's a sustained trade war between by car us. That's what China and Vietnam. As a big manufacturing up Hess started to and will continue on an accelerated basis. Teoh be, you know, develop into a larger kind of like manufacturing hub for the world, essentially as neighbor and manufacturing people, birds and small of China to be another self. So we already seen that, in fact, happening in the last light 6 to 12 months and think that's going to go with the faster and exponentially. So there's a big opportunity from that standpoint in terms of the number Bargain Castle, I think in terms off like we've been locked down a swell. You see a faster acceleration until the second opportunity processes faster. A celebration of the digital economy transformation on this, you know, probably can apply to industries like myself, likes Endo, where it's Palmer's driven. That's well, that's, you know, intact like payment in the streets. So we are, you know, a sender well saw didn't send of itself. We've already seen ah lot shift in consumer habits, spending you know, it's all businesses, and so the demand, you know, while you're having, like, supplied constrained issues in the first couple of months because a lot of the mega pectorals that coming from China, the demon has been stronger than ever. The third opportunity that I see also its internal rather than that grow our business within the organization. I think whenever you have much more uncertainty, because there is because of endemic or whether it's because of market conditions, it also actually needs that on automatically force to raid. Some are internally for increasing improve operational efficiency. I don't think we know just in the past common like 23 months are running the team. But I don't think our company Oh, I can't speak for a lot of other companies as well. I don't think a lot off. I don't think that the company has been, you know, has ever been this kind of like efficient. That's what's this mean. And this, you know, kind of like dynamic and created intent of coming up with solutions. So for me, like I do see this whole long down situation as the opportunity in terms of southern commerce that form and the mod for consumer spending online as well as more important for any cos we've been internally, like, you know, whether it's from a cash management or letters from operation that they should since then point to actually better than Celts. Now, having talk about opportunities to see they're also going to be turned, is this gonna present itself? It's transient, period. Uh, and you know, a couple of that I can think of and I can see an experience right now is I think you need to see a very dynamic and that they never pre flexible to changing consumer habits. So, um, well, you know, consumers have it shifting from both lines online, but the categories and product categories two sq use their focus on it's also very different. And so you need to, um, no that to that on a month. Me all I wanna be a daily basis and seize their in pattern stable. I think it's funding and investment is going to be a big issue for a lot of light, less well capitalized industries and companies. And so they probably put a bit of but industry consolidation in the live incident industries it's improvisation or even and the last satellite challenges that no, I think people under often underestimates, especially in younger cos it's you have to. You have to build the culture from the bottoms up. So I think a lot of the companies you know the younger companies in the region have started off, You know, in the last couple of years since inception, growing very, very quickly and know the mindset of my market share. And that's focus on cost control and something will grow, I think, shifting that mindset for founders in this challenging period, Uh, it's probably easy with this the owner Monday piano but shifting that focus and internalizing that type of change in months that from founders and business owners to across the organization to G. D Jr and all the other employees as well within the company, it's what's going to be difficult. It's gonna be a hurdle towards success, so I think that's a challenge that people need Teoh answer and, uh, a recipe for like that. And then it's like now, six months, months down.
Kyler Tan: 11:40
Things were sharing. I think all that you'd agree that we're heading into a difficult year called McKeever on you mentioned something about financial cash management. So this brings People won't explain as well, which is what on some off European shit is. And it's for your point of view for cash management and operational finance. I mean, everybody is facing the same dilemma, right? Should I be green Juries Aston, or should I cut costs? What is that thing on these?
JJ Ang: 12:05
Ah, yeah, that's a great question. So, you know, coming from a capital raising that crown myself before I joined Sando. I'm very, very, you know, I have a strong passion for capital raising needs, not just investment banking and corporate finance. It's a lot harder, and it's a lot harder. And what more difficult to be successful, especially during my changing finding tradition. So I think I think my my playbook or rather Meyer in terms of my kind of a high level of thoughts around, um, key tips. But by measuring cash management, I think we've seen a lot of one big established companies and startups like the projects and grab or even multinational, kind of like American companies and said in the US, are doing James of like, uh, plans to for cost optimization. What I would say it's the table is extensive, but you have to borrow this extensive playbook and be able to customize and come up with solutions that actually fit your company for the purpose it'd once so like putting you know, for example, something or simple s, um, putting like half off your employees on unpaid leave who worked for an American Airlines. That's for established, um, form for many years, but less so for the commerce company in Vietnam that is still trying to, you know, micro its market share or, you know, it's still in the midst of, like, growing from from from it. Don't start up to get a picture. So I think, whether you choose to grow market share or, you know, to choose to be in survival mode, obviously that depends on the industry. It's on its own internal cash management. The end goal, this unit a part of people to customize solutions. Eso that you know you can whatever it is objective is merch like stronger and end of the crisis. General rule of thumb, you know, if you have, you know, like more than like 18 to close to two years off like, you know, cash run away in the competitive kind of like industry. You probably want to be very opportunistic and trying to gain market share. You are, you know, running with a lot of running on a much tighter kind of like runway. Instead of trying to grow market share, you really should try to be based more on survival on being as mean. I mean, it's possible. That's the That's the second point right to me in terms of, uh, you know, again, I'm very, very kind of like employees oriented, right? So, you know, fundraising is one thing, because that's very light, you know, investors and based on the market conditions. But never, never underestimate the importance of what you can do in Turner reintensify like it's the life financially. Cash management's well, you know the ship in the mid stats into employees. Like I said, it's very Colton on. I think whenever you have to make hard decisions of any kind of like hopes cost optimization measures leaders need to take on by example, and then leaders need to communicate active me and very fish in the your employees, and that is very crucial during this period, so don't understand. Don't underestimate that importance. It's not just about cost cutting measures is about how you community and exit.
Kyler Tan: 15:24
Right? So, Jill, you mentioned that some of the companies i survival mode and some of the company are capturing the officer. It didn't grow even for the right. So, given this uncertainty off the market, and many companies are reluctant point funds for transformation automation projects, So I understand that some do have always be a big believer off AI and machine that thing, right? And do you see innovation should be a focus in the mist off these prices and at me advise that we could learn from
JJ Ang: 15:55
Yeah, uh, good point. So, um, thanks for video content. Oh, yeah. So we're very
Kyler Tan: 15:59
big on my
JJ Ang: 16:00
technology and a, I mean is different for different countries, and we got word is often my overuse. But you know, in reality, the way I think about the I and our focus adoption, um, it's not so much going for it. I mean, it is going forward, but actually, it's because we have spent a lot of that sources on the I adoption in the past. That has actually provided us key competitive advantage that we need to never get this crisis whenever. And I'll give you some examples. Like, you know, like, for example, like, uh, I used them in there with the check bought, for example, instead of like having like you know, that, you know, in terms of like, e commerce is one of the keys to What's that doing like online trust, transactional buying between sellers and the buyers. It's their ability to be able to communicate with the sellers and the merchants on the other side. And so if you were able to and if you were able to do that, plus ultimate incident, part of that answer, like a lot of the seller question, are the buyer. Questions that they have eyes actually like, helps to promote a lot of the all my trust that that phone, that the success of you covered a lot of history a swell. So, um, check bought itself. Why already in Zenda would fix up? My more than half of all customer records were very proud of that, and obviously that's ah, ocean off the I focus, you know, stuff like such. For example, you know, we have been able to pass to three years consistently like Unsteadily in crude about conversion rates by Warner, like 10 15% like a year on year, Um, spot detection, like, you know, today were able to identify, like, more than 90% of our connections on the form. And then, like, when it comes to logistics and supply chain the three because about a I oughta routing system, I get send over able to shorten the movie time by anywhere between percent. Your So what? I would say it's that uhm fundraising. Sure. It's gonna be tough across like most industries. Uh, do a musher that it's gonna be targeted at automation transformation. My mind. My view is that the, uh, the cove in 19 and current market conditions are actually going to, um, making more obvious that there is a little shit towards digital transformation economy. And because of that, uh, the winners in that space are probably going to the, uh, you know, be able to This is more a better kind of life fund of a support from their investors. So what I expect to see it's, um even though overall funding climate is not great. You will start seeing the strong players in March. You've been stronger and before and then there will be a lot off, like one of these small or like the Nestle capitalized companies. School will get considerably that require it or, you know, somebody just wait a week. So we've seen that happen over many, many times in the past. Couple of financial crisis is a swell, and I don't expect it to being wanted on to be any different,
Kyler Tan: 19:13
just a summarising on point earlier. So you suggest that we should be permitted on the company's current financial standpoint. But I would say that if you're healthy enough not to show shy away from investments from
JJ Ang: 19:27
Ah, yes, except that Ah, a lot of times with the I. Adoption and technology like these are investments that probably will take time. So I think you need to balance that with, like, the shot temp objectives of getting market share or state are surviving this crisis. So I think it's always like barons and that I don't think that, uh, people should just, like, shy away from technology and I because I think that's actually separating their the business from desertion. This like going for, like, you know what was in the market,
Kyler Tan: 20:06
you great bye. And I agree with that despot. So, jr, you mentioned earlier on the fundraising part Creature that thinking there for a little bit month. So I've actually mendeloff tribunals was facing difficulties in securing investment, a tous point as markets and then once it's really soft. And it's especially since solving this issue and had let more people from raising all across the career you should sentence actually won't be stopping. And perhaps, and some advice for from this year,
JJ Ang: 20:33
Uh, yes. So I think I touched them that a bit on. I like the high levels since approach or I mean, I think essentially like that. Market conditions are just from approach and mindset standpoint. Of course, there's a lot to cover from a fundraising. It's fundraising is very difficult. Aren't you mean the way I look at fundraising, it's It's more park in science, right? So on the one hand, you need to be very, very well versed. You know, the different terms and legalization of transaction documents and bridging the gap between founders and potential investors. But, you know, that's still that, you know, if you put enough working hours like it's easy to pick it up over like, over time, Um, but I'm raising. It's more difficult because and sometimes appealing to the right investor with the right story. It's a bit more art than science. It also sometimes its control of this. You know, sometimes it's determined by market conditions and external events. So it's always, I think, very, very important, you know, to have, uh, no, but the CEO, CFO, or on Rivington to very kind of a well rounded and versatile Deepti. So what I mean by that is, you know, in terms of doing fund raising, to be successful at it, like you know, it doesn't mean that you need to have somebody who is a very good like financial guy, you know, like who built the best financial models because I could get only one part of the equation. You also need to have somebody who knows how to talk about business. Very charismatic. Uh, no. Who know who has the right connections? My excess reached investors. My just institutional. But I also love intentional type of investors. You need to, you know, be a good lawyer to a certain extent. Like, you know, when I started fundraising like, um e when I started, like holding my skills and fundraising, I ran through, like, hundreds of different, you know, financial reports as well as like, you know, 10 sheets and transaction documents for different kind of like companies cost difference Stooges. So Murcia's want to be a good founder and to the good fundraiser units. Also, both terms that you angel into a beautiful house to negotiate them supposed to just singing that over to the lawyers and pay incurring like crazy lawyer. That's the first part. The second part is it's very important to think of fundraising in terms of timing, that sundries operational milestones. Easier said than done. So don't just, you know, don't just chase the valuation. I've seen a lot of founders make the mistake of, like, taking and accepting a term sheet from an investor purely because the valuation it's higher without actually realising that some terms that being entered into with that term, she that investor actually a lot more onerous and in the end comes back to haunt them back in there, you know, like when we actually need the support of the best players, like down the road. So always look at the 10 sheet and always coach an investment from running buster with open eyes and understanding all the different terms on your insulin. It should be on just and with a lot of these materials online. It's well that I saw you encourage the last kind of like E um, I was a message or, you know, yeah. So I guess key message that I don't like to people was always I think you've heard of this before. Slowing. Always want to raise more than you can, and it's easy to see that now. But look at what's happening, I think, for I think, for I started, companies offer companies that I will get out there will capitalize over, Lucky enough to raise more than they need it to just close around. Uh, using pizza months would probably, you know, be the ones who would survive and grow market share versus the guys who, you know, like we're planning to resist. Another number decided not to read so much then, Now there are there, the better than stuck. So always expect that you know the things that don't think that you don't think we'll go over 10 to probably go wrong. And if you have that kind of mindset you know recently more than but thank you, it's going. No, don't just the don't Don't be so fixated on just
Kyler Tan: 24:47
sure I did you the slings. Well, it's a point as well about valuation. So I mean, given the market answers in the right now everybody is holding their leader when it comes to fund raising and investments, right? Do you think set up should be raising funds right now, given video market conditions? Got a direct effect of elevation this bomb? Or do you think that you should reach for a better time to come?
JJ Ang: 25:09
I think for companies with, like 1111 year run away, I think they can afford to type and think of like the backup option in case this thing lasts for more than a year. Additional there additional anyways, already be talking to investors. Fundraising is a business and never stops technically never ends, right? That's Neil. There's a founder of the CFO or the head of fundraising. You know, you should always be ready to picture distance to potential investors. Whether you on a pepper look show or not, because you never know who have been in, that's that's the first point. Attempts of flight. Um, I think companies need to be very pragmatic at this point in time. So if you're I mean, if you're if you're wanting to raise funds right now and you have to because having a short probably, um and you have to be very pregnancy. Even if you were in a process off Imo show and meeting new investors, I think the reality is, uh, with the public markets taking such a big beating about barring visitors and Razzie Or, you know, given the Internet e global market conditions going forward because everyone actually doesn't know what's gonna be happening. So a lot off investors, even if they have the money and, like, you know, they are referred different, referring to kind of like take a reading see approach and you can't blame them. So, in reality, if you're running a really short runway, my biggest advice to companies is that forget about even if you were in the middle of ah, pollution with your investors. Unless there already posted the finishing line. You must always be prepared to go back to the guys who know you the best, but who's the most familiar and then lending and to you And that is why the communication to um to internal existing investors and shareholders. Eso is always so important in terms of investor relations. Others think on the football. But the smaller guys messing up the lives guys, they are not going that I going to survive this and their storm. It's going to be the guys where they actually at the best investor innovations, but their existing show. There's investors and probably, you know, like you have to be pragmatic in terms of trying to do a background. But you know, you can get a that round with your existing investors. I think it would be a big we've been in this situation already. Seven. So that's probably my biggest invites Teoh Intentional fault cos we're going to raise the funds right out because I think the negotiating power this is in a fever.
Kyler Tan: 27:39
Thanks for sharing. Jiuzhaigou was a really great advice. I was a very practical advice that unlawful orders can put into practice. Let's move on go looks like minus for about female leadership. So can you share a little bit person? How has this crisis been affecting the job market? Right. And that's why it's when it's the most in demand skills in your part of you today.
JJ Ang: 27:59
Uh, yeah, sure. So, um, it's t to be very honest, Like, you know, it's hard to still kind of, like tell at this point of my Harris and point, given that we are, I would say, still probably an uncertain patch, or like in earlier and bits of the crisis itself. Um, however, what I can see and what I've observed, it's This is most companies are currently in, uh, in cost optimization right now rather than hiring. So I think, um, the focus. Really, instead of being on now on hiring, um, you know, like it would probably be You know, every from HR standpoint, the difficulty is not so much a hiring by really more on plenty motivation coming occasion intention, because there's so much uncertainty. So I think that is more of a focus in the coming quarters, especially for companies like ourselves. From a hiring standpoint, I do believe that you know that's the economy. Declines a Z market conditions. Persons like me. What? You see these, uh, you probably will have an increased full of talent to pick from. Um, but on the idea is to separate, you know, like, uh, you know, the guys would look good on paper guy school, things you can really contribute. Did organizing today extend that companies are still hiring like, I think it actually, you know, will be you know, it's it's actually a better time from a hardware perspective, but you need to work. And for us as in Commerce company and in Vietnam, in emerging market, beyond the specific scope off responsibility, expertise and skill set there were looking Now whether it's Mark the name letter, it's engineer the tech team or whether it's financial and other is, uh, doing like financial planning. But a company you know there is. I mean, the way the way we think about it is there is no special ng s and humans are like commerce expert. Now you have guys who have working in commerce companies, you know, we'll believe for many years before, but you know, when it comes to get non e commerce. It's also different, and it's still in a very kind of like infancy and raise and speech off the mystery girl so beyond, just like, you know, picking someone for no specific skills that I think the most important steals that we are looking for, you know, in terms of unemployment uses just that personality deputed in that you know, my what I say it's the resourcefulness and the problem solving ability, because at Internet Day it's all about being able to come solve in the area. So this is something that you know. It's hard to teach because, like you're going to school and getting a degree in, you know, like, uh, coding or in marketing there's unnecessarily translating, having a habit or personalities and motivation to actually want to solve problems and to grow. The company knows how to birth different drinks. So beyond the still certainly look for certain and the source of this problem monsters you hire like that
Kyler Tan: 31:04
who who suggest it is avoided, I would like to elaborate as almost moving emerging market actually has very young work force. Many consider industry and hope. You keep things localized for balancing your look at Palin's expense. Yeah, well,
JJ Ang: 31:20
actually, s Endo were quite different from our without Malcolm Patterson's so far in the sense that actually interestingly on the second kind of, uh, expect International expect that it's been brought on into the company. Today we have about 1000 importance that I might be the second. Uh and so I think today we have about maybe like, four or five. Uh, Except so we are very, very driven towards Ah, it's ah, local. Um and I think that's a very important, you know, like the being the music workforces and very motivates that very young what force? Very, very highly skilled as well. So from a text respective, I think more than covered there. And there is actually this is important to have the local presence of indecision from a global perspective. You know the reason why, but a za company is a local company. Rose, like you know, like international expertise at crucial positions, is also required in my in my particular case, you know, I'm coming in, you know, it's basically joining sandal at a stage where center was raised about $100 million over seems B and C ah last round being a cement all around 2019 itself. And so Sando is actually has reached a stage where it's no longer a small start up. But it's really a I would say, a growing and pretty establish and big fish and the like start up, uh, happened. And so where that comes in beautiful. Also don't kind of international best practices mentality to chip it might set. So I was brought in our both from a to meet the fundraising, but also to instill the penalized best practices from the financial analysis, Suggestion Management and Budget National 10 7 point and back to my point Also on, you know, like, you know, in terms of, like, do you need to have, like, a CFO who's been with you commerce company for like, uh, 10 20 years to order to run a job like that? Not so much, actually. Because in reality, on the fundamental status scene, uh, thank my focus on my running is a single businesses probably help for years and really like, you know, beyond just the, you know, today I take care of my accounting oceans to Europe, but, uh, unusual pending, and it does this that he added to that includes, like budgeting, cash management. I also think that investor relations and, um I'm raising So those are kind of like the core bread and butter of this year full but beyond that. But just off the, uh, the value at risk mindset on the way I approach like strategic thinking, I'm also in charge of each our associates for cumin, those and the divisions on energy from the financial company. So a lot of the things that ah international kind of like CFO like myself bring something to both both beyond just like financial planning and more mobile street. Ince's like strategic operational. And what in the
Kyler Tan: 34:29
shit, right? I think the cable down. And then and I read in a separate interview off yourself a dimension of all Dems regular century, our nervous systems employed at the ownership and how do we bring? So I think that maybe we should get some fires for you because I think that's still voted for all possible.
JJ Ang: 34:51
You have. So I think that you write an article, but yeah, so this is very I mean, this is, uh I think the festival you give me too much credit. So like, I think I'm very keenly aware that that's a very important point. That is something that I'm always trying to crack. But to say that I have successfully correct that code, and that was a little like ones, probably giving myself too much credit. So I'm always trying to learn and improve myself to try to try to get there. And, um, it is something that you know, I consciously strives to inculcate in a TV on, and I started with my smaller team and hopefully, you know, with the example that I said to my team and the example that my team sets on a daily basis. Hopefully, it's something that then per via permeate through the organization as well. And the most important thing to keep in mind in terms of shifting that might set to four uses. I mean, it's really quite simple, but, you know, but some people think it's, you know, it's easier said than done. Um, it's really to lead it and even breathe it and needed by example. So iI read in a separate interview off yourself a dimension of all Dems regular century, our nervous systems employed at the ownershipIn fact, that's probably gonna backfire. You probably don't know improbable dream basing anything by example. So I try to do, Ah, a lot of these things by example. Uh, you know, uh, get on in, like, you know, for example, like, you know, in the midst of cold 19 you know, even the sender with had to, you know, really, down down a lot off the hero costs been like, you know, while liver focused on employee benefits at the well, there at 60 please, you're certain. Kind of like, you know, for example, you started like, a work from home initiative. Uh, you know, like the rest of the country and for about a group like months. And, you know, we used 1/2 like employee benefits, like contradiction of violence on. We had to dial that back down and sense of compensation. But we have a meet and kind of flight of the changes to that. So far, you know, the leader since nearly goes in organization prepared to, you know, lead by example on that front this well, so whatever. Kind of like cost communities cost optimization no and benefit cuts that, you know we're proposing because you need to, because necessary. Why we make sure that the guys who are most impacted, you know, the guys who are impacted most from a quantum because once in some point percentage, 10 point, it's actually the leaders more so that the importance. So that's that's that. That's another. And I like wave for for some kind of like shit that might set to get people to buy in as one team. Every in this together
Kyler Tan: 37:46
you are leading by example, is really the critical Groupon. But wait, Mama Point, it's about which is the book from home situation. So how has the experience been for herself and for send us while managing to be both teams?
JJ Ang: 38:00
I think there's always there are always challenges. I think the first couple of on the first couple of days and, you know, person on two weeks was a little bit of getting used to, uh, just because, like, I just recall companies, I don't I don't think people in using with home and still for me all the more It was very important to set up a different kind of like respected group e mails jets, and we'll hang out check routes with different teams. And I think one of the most, uh, you know, I think we've been very expressly success elated because we're functioning business is usual and actually like performances. Actually, proximity of increasing cost my team. And the biggest reason for that is because I choose to communicate, communicate and community, right, So I can't stress enough on like the meat for over communication. You know, like Doreen doing like, uh, times like this that you don't get. You don't get a face time. And obviously I don't mean coming again, like every minute to the point of that extent about micromanaging. So it's a balance of like community eating the right set of like delegating Ah, and at the same time, like still empowering Linder's. So the way I run my team, I have, like my generals for different. I have a general of the best prevention side general of like the PNE ever general accounting of Variables and general at the John Teen in general like German team. So my Mondays are pretty productive in the sense that, you know, I would be spending, like, half an hour, uh, 15 to happen. Our you should then by a specific time, slots. Because then we would know that, you know, like, that's this is very deliverables that you do on a week, and then we'll talk more throughout the throughout the week of the month itself. But it sets the tone, bore himself, fire what people are expecting and also the Group 70 empowerment to more of your respective teams to the court to be. But there's no need for me to be, you know, over communicating over micromanaging during this time. I actually think it's a great opportunity both, but something to be more productive.
Kyler Tan: 40:18
Yeah, thanks for sharing. So I think we have chosen to the end of the podcast. And these one off question there has ever since guests on my podcast. So you're saying this silver lining that you see with in this situation and at the same time we have the advice off first today?
JJ Ang: 40:34
Yeah, I think I'll go back. Teoh my life Moto. It sounds very cliche, but
Kyler Tan: 40:40
I think it's
JJ Ang: 40:41
very apt for this. Ah, this situation. So I'm one of those guys who the more uncertain situation is. I actually think that means creates opportunities, lie ahead. And so I've tried to communicate that to my humans, of the organization, to buying on that a swell. And I think you're starting to see it. I don't think I mean, just in the past couple of just in the past two months on the amount of innovating innovations, creative solutions and how much we can stretch ourselves to perform like, I don't think, um, the company would have and his employees would have been able to achieve while we didn't last two months if it wasn't for gold in 19. So unless you're put to the stress test, you never really off on up and don't know what you're able to achieve. And this is a perfect example, and I think the way before we're gratifying. You could do it right and execute properly. We had a company. We're going to find out more, much more about ourselves. What we're made off with kind of stuff there amazing things that actually achieved. So because anyone single advice, it's to really embrace the volatility. About 70 as an individual and because those are going to improve yourself in an organization like possible.
Kyler Tan: 41:58
Well, I think this 45 minutes have been really inside full for audience and even for myself, a small so thank you for a time here. I mean, JJB if you have any closing statement you would like to make
JJ Ang: 42:09
Oh, well, no, I mean, I think I kind of like someone with my last part. I just wanted to take the opportunity to thank you color and for taking the time to to interview this past, uh, love to more kind of like that, though. Found nurse, or, you know, different audiences who would be interested in, well, stuff like that and to be a go to be more of this people in length of each other. So I gave the keys. You know, learning never stops. Right. So we've been doing our answer in time started whether it's organizational. Yeah, I get that
Kyler Tan: 42:46
a big thank you to you and have a chance to exchange again. Thank you for listening. Go about cuts for on the show notes and information discussed in this episode. Please follow Alcohol group holed up home slash Parker's. Also, if it's interesting, it's obstructed about cars on iTunes. Spotify once teacher on one, off the podcast left. We're looking forward to your feedback.