Uncategorized

September 12, 2022

SHARE:

Some business owners spend years building a company only to see it fail before it even takes off. How are you going to survive and cope? Will you just give up that dream business?

We all know that life as an entrepreneur is complex, but once you hit it, everything falls into place. Following the example of 27-year-old Thai entrepreneur Vanessa Techapichetvanich as she trusted the process and waited for the right moment to reap the benefits of her efforts.

Read through as Vanessa shares her story with the AHN community about building her passion-driven business Jamulogy, a 100% plant-based Indonesian herbal tonic. She discusses her struggles that almost made her give up, and what kept her going in order to reach her successes today.

Hitting Rock Bottom At The Very Start

2 years ago, I poured all my life’s savings into building Jamulogy. I raised quite a significant amount of funding through families and angel investors, built my first factory from scratch, and lost over $1M, due to the pandemic and an over-prioritization of FoodTech R&D.

I was devastated. This tremendous loss was beyond tragic. I was at the point where I wondered whether it was stupid for me to leave my high pay corporate job only to lose all my savings along with a sum of money from my investors.

What am I going to feed myself tomorrow? What will my employees do when they lose their job? How will I regain all the money I’ve lost? How will it affect women founders’ reputation in the startup ecosystem?

These questions and my desperation kept me wide awake at night for months. I was distressed, depressed, and hopeless. It was one of the lowest moments of my life.  

It also made me realize that when someone says “life as an entrepreneur is tough”, it is very much an understatement. You’re pretty much living on the edge 24/7, giving your 10000% best while success isn’t guaranteed.

What am I going to feed myself tomorrow? What will my employees do when they lose their job? How will I regain all the money I’ve lost? How will it affect women founders’ reputation in the startup ecosystem?

-Vanessa Techapichetvanich

Shedding Some Light On Untapped Opportunities

I almost gave up. I would have.. had I not coincidentally connected with someone from AHN who is in the import and export business. One really good thing about this group is you have people from everywhere around the globe, and they are able to share insightful expertise on some stuff you’re not familiar with. 

I joined AHN more than a year ago when Facebook suggested the group to me. One day, I saw some people posted about expanding their food products to big retailers like Walmart, Wholefoods, and Costco, and from there, I got to connect with someone from San Francisco who works for a national distributor company in the US, and that’s how Jamulogy’s products entered the US market. 

This encounter shed some light on untapped opportunities and calls for a pivot in our business model. And I have been rebuilding since January. Despite the adversity I have been put through, this journey has been my greatest teacher yet.

I’m proud to share that Jamulogy is now available in 5 countries worldwide, including the US, Australia, Singapore, Hong Kong, and Thailand. Jamulogy has also recently “graduated” from Southeast Asia’s biggest FoodTech accelerator program. 

Despite the adversity I have been put through, this journey has been my greatest teacher yet.

-Vanessa Techapichetvanich

Transforming Traditional And Holistic Drinks Into Recipes Of Yummy 

Jamulogy was born out of my passion for a healthy lifestyle and my dream to bring Asian pride to the global stage. My mother is Indonesian, and I was introduced to Jamu when I was 5. The word “Jamu” itself means herbs in Indonesian. Sadly, our generation in Asia has overlooked these Indonesian herbal drinks that have over 1,300 years of history as they often associate herbal blends with older people.

Vanessa and her mother

Using modern food tech and all-natural non-GMO ingredients, we aim to recreate traditional Indonesian Jamu as a way to restore health to modern consumers. We are also committed to debunking the myth that healthy food tastes terrible.

Our concept is “From farm to bottle,” and we take every opportunity to support local farmers & growers around Asia. Each bottle contains only 40-80 calories without cane sugar or highly processed ingredients.

Going forward, we are also diverging our product offerings into herbal powder mix to cater to different consumer lifestyles across the world. 

Inspiration To Keep Going and Work Harder

What inspires me the most are our customers. I received all sorts of feedback from customers, both positive and negative. Whenever I hear our customers telling us how our products have created a value-adding impact on their health and life, I can’t help but smile to myself. 

But of course, we also received negative feedback and complaints, which I got a lot of value from as those have helped us improve, adjust, and create even better products for our customers. Truth be told, we have experimented with over 150 recipes. It was a struggle at the start, but “fall seven times, get up eight.” 

It’s the joy of being able to create a positive impact in society that keeps me going. 

It’s the joy of being able to create a positive impact in society that keeps me going. 

-Vanessa Techapichetvanich

Advice To Aspiring Entrepreneurs

  1. Don’t be afraid to ask for help when you need it. 
  2. Do not let your failures define who you are, but do learn from them. Every successful person I know has gone through several major failures before they get to where they are today.
  3. Surround yourself with like-minded people. I can’t stress enough the importance of this. 

For me, the most important traits of being an entrepreneur are a growth mindset and adaptability. It’s not about who has the most brilliant ideas or who has the highest IQ, but more so who adapts the quickest to fit the market’s needs and customers’ expectations. 

Connect With Vanessa

You may check out our IG/FB at @drinkjamulogy.

If you’re just starting an F&B business or planning on exporting to Asia and want some advice, feel free to reach out as well. I’ll try my best to answer ⭐

Related Articles

Image Source: kr-asia.com

Uncategorized

GGV Capital’s Jenny Lee: From Jet Engineer To One Of World’s Best Venture Capitalists

Recognized as one of the world’s top 100 venture capitalists by Forbes for 11 years in a row, Singaporean venture capitalist Jenny Lee stayed in her hometown to raise money for four new funds launched by her firm GGV Capital at the height of the pandemic in 2020. 

For four months, according to Forbes, the veteran VC barely slept as she made 250 zoom calls and remotely raised $2.5 billion from investors around the world. Lee and her team raised the most capital in GGV’s 22-year history, boosting assets by 27% to $9.2 billion. 

Long before she became one of Asia’s most powerful businesswomen, she earned a bachelor’s and master’s in Electrical Engineering at Cornell in 1995. She became an aviation engineer at Singapore’s ST Aerospace, where she modified F-16 fighter planes.

In 2001, the company sent Lee to attend Northwestern University’s Kellogg School of Management where she earned an M.B.A., but she had wanted to be a venture capitalist for a long time, so she quit her job that same year to follow her hidden passion.

Lee paid ST Aerospace $300,000 for not finishing the 11-year scholarship bond that paid for her bachelor’s, master’s, and M.B.A., but she has no regrets. For her, it was the best move.

She got her start as a venture capitalist at Morgan Stanley and Jafco Asia, but she made her name in China after joining GGV to create its office there in 2005. One of Lee’s more successful discoveries was the mobile phone maker Xiaomi before it had sold its first handphone.

Today, Lee is one of GGV’s top-tier managing partners along with Singaporean Jixun Foo, an early Grab investor. Hans Tung, who’s been on the Midas List 11 times. And VCs who have U.S. investment, industrial, and entrepreneurial expertise.

GGV’s 354 firms are balanced between Asia-Pacific and the Americas (GGV claims its investments include more than 85 unicorns). With the U.S. having more investments, at roughly 130, and 77 in China.

The company’s assets under management have expanded more than 50 times since its founding in 2000.

Image Source: Netflix

Uncategorized

Netflix’s Star-studded Series Avatar: The Last Airbender Includes George Takei, Utkarsh Ambudkar, Arden Cho, Danny Pudi

More actors have joined the cast of Netflix’s live-action version of “Avatar: The Last Airbender,” including George Takei, Utkarsh Ambudkar from the sitcom “Ghosts,” Arden Cho from Partner Tracks, and Danny Pudi from the comedy series “Mythic Quest.”

Avatar: The Last Airbender unites the “four nations”: Water Tribe, Earth Kingdom, Fire Nation, and Air Nomads with a diverse representation of Asian and Indigenous talent.

Star Trek’s Takei voices Koh, an ancient predatory spirit. Cho, Ambudkar, and Pudi all portray Earth Kingdom characters, with Cho as June, a vicious bounty hunter; Ambudkar as King Bumi, the elderly and mercurial king of Omashu; and Pudi as the mechanist, an eccentric inventor and engineer raising his kid in a war-torn country.

Cast members include Gordon Cormier as Aang, Kiawentiio as Katara, Ian Ousley as Sokka, Dallas Liu as Zuko, Elizabeth Yu as Azula, Paul Sun-Hyung Lee as Iroh, and Daniel Dae Kim as Fire Lord Ozai.

Executive produced by showrunner Albert Kim, Rideback’s Dan Lin and Lindsey Liberatore, and Michael Goi, “Avatar: The Last Airbender” is a live-action version of the animated Nickelodeon series of the same name. Directors include Goi, co-executive producer Roseanne Liang, Jabbar Raisani, and Jet Wilkinson.

Kim tells Netflix that the live-action adaptation creates “a chance to showcase Asian and Indigenous characters as living, breathing people. Not just in a cartoon, but in a world that truly exists, very similar to the one we live in.”

 

Image Source: CAA

Uncategorized

Constance Wu On Surviving Twitter, Producer’s Sexual Assault On Her New Memoir

Constance Wu is opening up about her time on “Fresh Off the Boat” and saying that a senior producer of the 2015–2020 ABC sitcom sexually harassed her.

She tells The New York Times about a producer’s “controlling behaviors” in her memoir Making a Scene. “Fresh Off the Boat was my first-ever TV show. I was thrown into this world,” she added, “I don’t have parents in the industry. And because I was 30, people thought I knew what I was doing. It made me paranoid and embarrassed.” 

Wu also told The Atlantic she hadn’t spoken about this before out of fear of repercussions. “I kept my mouth shut for a really long time about a lot of sexual harassment and intimidation that I received the first two seasons of the show,” Wu said. 

Once the show got successful after two seasons, she was able to say “no” to the producer’s harassment and intimidation. And, so she thought: ‘You know what? I handled it, nobody has to know, I don’t have to stain this Asian American producer’s reputation. I don’t have to stain the reputation of the show.”

The actress addressed the infamous tweet in spring 2019 when ABC renewed another season of the sitcom. “I was punished for being ungrateful,” she said. Wu publicly apologized, but she received backlash. 

She then sought psychiatric help and quit social media for three years. Wu had started writing a book back in 2016 but had lost momentum.

In the fall of 2019, she went back to work at “Fresh Off the Boat”, the final season, where she apologized to her colleagues in person.

The next year, the world stopped due to the pandemic. And she finished the book she was writing. In her memoir, Wu talks about how she felt alone, how racism affected her career, and how she’s moving on.

“I try not to make myself out to be a hero,” Ms. Wu told NYT. “I try to make myself out to be a pretty normal person who has flaws like everybody else. I’m not really into the actor memoir where it’s like, ‘I overcame the odds, and I’m this person who was humble and just kept working. I was the victim.’ It’s less black and white than simply victim and perpetrator.”

Image Source: Etsy.com

Uncategorized

Major Online Shops Including Etsy, Yelp, Uber Eats Boost Visibility Of Minority-Owned Businesses

The pandemic has devastated minority-owned businesses. Only 31% of Black-owned enterprises and 44% of Hispanic-owned businesses got Paycheck Protection Program aid, according to the Federal Reserve.

To raise awareness and support minority-owned companies across the country, major online shops and delivery systems are now showcasing Asian, Black, LGBTQ, and female entrepreneurs.

Amazon Launchpad enables vendors to identify on their “seller credentials” page if they are Black-owned, Latinx-owned, or women-owned.

DoorDash allows you to search for Black-owned restaurants in numerous US cities with “Black-owned” and “women-owned” tags on all company profiles. DoorDash Merchant Support can add the tag to a business’s profile.

Etsy lets shoppers search for Asian, AAPI, Black, handicapped, Jewish, Latinx, Native, female, LGBTQ, as well as veteran and military family-run businesses.

Google Business Profiles that are verified can add “Black-owned,” “women-led,” and “LGBTQ-owned” attributes to Google Search, Shopping, and Maps.

Macy’s Diverse Owned Brands section of its website features hundreds of items from minority-helmed brands, including those manufactured by AAPI, Blacks, Latinos and Hispanics, LGBTQ persons, and women.

The Intentionalist sorts for Asian-owned, Black-owned, Latino-owned, LGBTQ-owned, Native-owned, veteran-owned and woman-owned companies.

Uber Eats has partnered with the EatOkra app, which connects diners to Black-owned eateries, restaurants and food trucks in cities of Atlanta, Chicago, Los Angeles, Miami and Seattle.

Yelp allows businesses to self-identify as Black-owned. Yelp’s Ones to Watch series also spotlights top Asian-, Black-, Latinx-, LGBTQ- and women-owned businesses around the country. Businesses can also categorize themselves as “open to all,” which means that they welcome anyone regardless of race, ethnicity, national origin, sex, sexual orientation, gender identity and expression, immigration status, religion or disability.