Stories

August 31, 2022

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The ability to cook does not, however, automatically translate into the capacity to manage a restaurant. The food industry is a fiercely competitive one.

Fortunately for Vietnamese chef Nikki Tran, he succeeded as an “accidental chef” despite his previous failures in the restaurant industry. But what exactly is the secret to his success? 

Nikki launched his first restaurant in Vietnam but was doomed to flop from the beginning because of its quick decline. It started on a drunken night when he drafted his first business plan. He had put down a deposit on a new location that same night, hired a chef, and opened a new restaurant within a week. 

The only problem was that the chef didn’t show up which caused trouble on the first day it was open. The restaurant also struggled to bring in customers despite the backing of Nikki’s famous actress friend, which resulted in a steady loss of revenue. 

Nikki recognized his missteps and realized he was not as well prepared as he thought. Consequently, he worked to improve and reinvent his culinary skills. It did not end up being a challenge for him; instead, he worked toward opening a second restaurant in Houston, Texas, when he returned to the United States. 

At that time, he got hooked on crawfish and began eating them frequently. He took it to Vietnam and experimented with it using a typical technique of its culture. His family, friends, and the first people in Vietnam are thrilled to try it out, and they’ve called it “Viet-Texan cuisine.”

This innovation, which was his take on the now-classic Viet-Cajun crawfish boil made using Vietnamese river prawns, became the one that accidentally brought and pushed him into the international limelight.

Soon, he was profiled by media outlets such as Vice, NBC’s Travel Voyager, Houston Eater, and Netflix. He did not let his first failure or lack of experience prevent him from pursuing his dreams and developing relationships until he became a Netflix star. He is also a familiar face in David Chang’s Ugly Delicious, Phil Rosenthal’s Somebody Feed Phil, and the critically acclaimed Street Food: Asia.

Today, Nikki operates three locations of his restaurant, known as “Ku Ba Quán.” And even though he is known for breaking the rules of traditional Vietnamese cuisine and blending in international influences whenever he feels it is appropriate, he has the impression that he has always gone his own way.

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Image Source: CNBC Make It

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25-year-old Who Earns Half A Million Per Year Proves That No One Is Too Young To Be A Real Estate Investor

This millennial will inspire you with his quest for financial independence. Sahil Mehta earns $515,000 a year flipping houses in addition to his full-time job at Golden Gate Sotheby’s.

Mehta grew up in a low-income household. He moved to California at 16, where he started college and graduated early to launch a successful career in real estate. Today, he has already put five rental apartments into the real estate market in Berkeley and has been able to make a profit from them.

He acknowledges that prospective investors require substantial capital even to enter the game. One essential thing he considers in investing his money is making deposits into a personal retirement account. Now, Mehta puts a lot of money into himself and puts away about $10,000 monthly for real estate investments. 

The 25-year-old also invests $1,500 per month, while most financial advisers recommend saving 10% to 15% of income for retirement. Brilliant move to put some of it in an IRA, where it can multiply at 6% to 8% every year.

O’Leary, chairman of O’Shares ETFs and a judge on the new CNBC show “Money Court,” was impressed by Sahil Mehta’s connotations to stock market strategies. “That’s what you’re putting aside for your nest egg when you turn 65.”

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Eight Trailblazing Asian Women Who Are Slaying It In Startups

When it comes to closing the gender equality gap in entrepreneurship, many barriers remain to be addressed. However, female entrepreneurs in the startup industry are now rising and have been taking center stage.

Fortune recently released a list of the 15 Most Powerful Women in Startups based on PitchBook valuation data. 

Eight women on the list are notable Asian women who are either founders of highly valued startups where they hold important jobs or chief executives of highly valued firms.

Without further ado, here are the most powerful women in charge of the most valuable private companies in the world today.

 

Melanie Perkins

Cofounder and CEO, Canva

Valuation: $26 billion

The Malaysian-Austrailian cofounder and CEO of design software maker Canva was valued at $40 billion in 2021, which makes it the highest-valued female-founded startup in the world. Launching their new office product, the company is ready to take on Microsoft and Google.

 

Divya Gokulnath

Cofounder and director, Byju’s

Valuation: $22 billion

Gokulnath cofounded India’s most valuable startup, Byju’s. The firm’s aim is to make learning engaging and effective by leveraging deep pedagogy and cutting edge technology.

 

Miranda Qu

Cofounder and president, Xiaohongshu

Valuation: $20 billion

Based in Shanghai, the social e-commerce app Xiaohongshu (translation: “Little Red Book”) has been key to the rise of experiential shopping in China. The innovative platform integrates the authentic content shared by its community with commerce, quickly becoming one of the most popular destinations for making lifestyle decisions.

 

Ruchi Kalra

Cofounder and CFO, OfBusiness; cofounder and CEO, Oxyzo

Valuations: $5 billion (OfBusiness); $1 billion (Oxyzo)

Kalra along with her husband Asish Mohapatra, cofounded the carbon management business OfBusiness and the digital lender Oxyzo. OfBusiness provides India’s SMEs access to cash flow-based financing for buying raw materials through its NBFC ‘Oxyzo Financial Services’.

 

Adi Tatarko

Cofounder and CEO, Houzz

Valuation: $4 billion

The Israeli-American cofounder and CEO started the home remodeling and design platform where people can browse and save beautiful photos of inspiring home, as well as find and hire the right design and construction professionals.

 

Eynat Guez

Cofounder and CEO, Papaya Global

Valuation: $3.7 billion

Papaya Global is a payroll platform trusted across 160+ countries and all types of employment. Based in Israel, Guez cofounded the startup after a long career in global workforce management.

 

April Koh

Cofounder and CEO, Spring Health

Valuation: $2 billion

Koh became the youngest woman to run a multibillion-dollar company when the startup hit its $2 billion valuation in 2021. With the mission to eliminate every barrier to mental health, Spring Health offers mental health care services as an employer-provided health benefit.

 

Jinglan Wang

Cofounder and CEO, Optimism

Valuation: $1.7 billion

Optimism is an Ethereum-based decentralized infrastructure platform that allows for instant transactions and scalable smart contracts.The company valued at $1.7 billion as it worked to scale Ethereum.

Image Source: Natalie Naudus

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This Mom Took a Career Switch and Is Now Making Six Figures as a Book Narrator

Natalie Naudus’ voice actor journey began when she realized that narrating audiobooks could be a promising career option. She found that audiobooks were one of the fastest-growing areas of content creation and that most of them were recorded by voice actors in high-quality at-home studios. 

The mother of two decided to pursue it as a new career because she believed that many aspects of the genre she cherished as a classical singer could be incorporated into this new line of work. She now earns six figures annually.

Natalie’s husband helped her set up a home studio. A platform called ACX, which connects narrators with authors, agents, and publishers, gave her her first book job. To make her name and voice more well-known within the community, she started going to events related to book narration. 

During the 2020 pandemic, she decided to share snippets of her book narrator life on Tiktok and Instagram. She wishes others could appreciate this profession as much as she does. This exposure increased her popularity and fan base. Book gigs from publishers who wanted to hire her to publish her works also began to flood in. With this strong online presence, she acknowledged it as one of the most important decisions she has ever made for her professional advancement.

Currently, she still manages to put in a productive 40 hours a week between recording, administrative duties and reading up on material for her next book. Major publishers typically offer her a starting rate of $225 per finished audio hour. 

After three years as a voice actor, she finally reached the six-figure mark in earnings and enabled her to purchase the land for their mountaintop home, as well as upgrade her recording booth.

Natalie had recorded almost 400 books over five years. She is also an award-winning audiobook narrator of more than 250 titles.  Her story shows that taking a chance on a new career path can pay off in ways one never expects.– “It was a difficult decision to give up my opera dreams. But I wouldn’t be where I am today if I hadn’t left it behind and taken this chance.” she tells CNBC’s Make It.

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This CEO Transformed Lost Fishing Nets Into Sustainable One-Of-A-Kind Bikinis

Plastic pollution harms our planet and health, but thankfully, companies like Copenhagen Cartel are combating this environmental problem by converting lost or abandoned fishing nets into bikinis with a modern twist on an ancient textile tradition.

Copenhagen Cartel’s founder and ocean lover, Katrine Lee Larsen, was motivated to help mitigate the adverse effects of plastic use and came up with a “brilliant solution” destined to become a global superstar.

Launched in 2019, Copenhagen Cartel has produced swimwear and athletic wear from ocean waste plastic. The deadly ‘ghost nets’ that would otherwise waste away in the ocean and kill countless marine life can be put to good use in this way. Compared to making brand-new nylon, Copenhagen Cartel’s manufacturing process uses less energy and resources.

Larsen views each day as a fresh challenge while launching her own company. Moreover, as a true nature lover, she has been guided and helped by her purpose. She feels the entrepreneurial world is dominated by masculine values that leave little room for feelings and higher goals. However, her experience has shown that a focused, emotional strategy can be very beneficial. She believes a new era of entrepreneurs will emerge due to shifting to a mindset that values meaning over financial gain.

Larsen is an entrepreneur herself, and she has been through the experience of seeing the ocean being depleted of its resources. Despite this, she knows that there is still room for change, which drives her to continue to assist the environment and natural resources.