Y.L Chee inspires many people. He is well respected by his clients, peers, staff and various charities. He started with very little and today is a successful businessman.
A Tough Start.
His ambition had always been to be an engineer. He was accepted to do an engineering degree in a UK university, but the family was too poor to send him.
So, instead he took up ACCA in Tunku Abdul Rahman College and qualified as a Chartered Accountant. Upon graduation, he worked as an audit assistant in Johore Bharu and later at a another audit firm in Kuala Lumpur for 7 years.
After the 1997 financial crisis, Chee started his own audit practice. He had no money, no clients, no office and no place to stay. With luck and the grace of God, he secured a small space, table and chair at an office in Taman Tun Dr Ismail. For some time, he used the store room as his make-shift bedroom.
His Own Practice.
30 years later, today, he has a thriving and well diversified business with more than 60 staff in his group. His clients are mostly long term and repeat customers. They value the advice and services from Chee and team. Chee appreciates staff loyalty and in turn makes the effort to engage them.
His Group of companies are involved in:
- Income Tax services for sole proprietors, partnerships, limited companies, unlimited companies, cooperative societies, religious bodies, charitable organizations, individuals, real property gains tax and sales tax, service tax & tax incentives applications
- Statutory audit of private limited companies, public limited companies, L.L.P due diligence audits, audit of solicitors accounts, real estate agencies, societies, religious bodies, charitable organisations, joint management bodies and management corporations
- Trade mark, will writing services, book keeping, re-seller of accounting software, supervision of accounting staff, out sourced finance manager roles
- Corporate secretarial services, registration of private and public companies, L.L.P societies, company winding-up & de-registration services, premise licenses applications.
This determined man worked very hard, through weekends and public holidays. He took on all types of accounting and related jobs. He had a rough start, but he never gave up. Or complained.
Chee inspires many as he is resilient and a survivor. This gentleman is very clear and focused. His humble but very firm leadership is the strength that keeps the companies going. He has a natural instinct for business, and is always thinking ahead.
The Tipping Point.
Malcolm Gladwell in his book The Tipping Point talked about the Law of the Few. With a good proposition, what he calls “Stickiness Factor”, and solid “Context”, a tipping point can be achieved with a few key people – Connectors, Maven and Salesman. The tipping point is that magic moment when an idea, trend, or social behaivor crosses a threshold, tips, and spreads like wildfire.
For Chee, his tipping point came 5 years after he started his practice.
Apart from audit, he made an effort to cover all aspects of accounts and related management for his clients. He brought in people with expertise in tax, secretarial work, trademark and even financial planning. He created different companies and units. Each expanded well, Cross selling and referrals further strengthen his market share and share of wallet. His average revenue per client improved.
Not only he worked hard, he is continuously learning. With the help of his associates, he covered all aspects of a business and tax planing. This made him a maven individual in an industry where good advice is appreciated. This created product “stickiness” that is not easily copied.
More importantly, the connections multiplied as each business unit grew. Increased connections lead to increased business. Add this to the incredibly hard working Chee & team, the business is now solid.
He has a very firm and persistent sales mindset. He does not tire from pitching his services. Never mind that he does not get the sales. He is happy to share, again and again. Customers remember him when they need advice.
He has done well, and is looking to expand further, with acquisition of smaller firms.
Gladwell in his other book, Outliers: The Story of Success, also said that success is not just about innate ability. It’s combined with a number of key factors such as opportunity, meaningful hard work (10,000 hours to gain mastery), and your cultural legacy. Random factors of chance, such as when and where you were born can influence the opportunities you have.
Chee was working when everyone else was resting. He gained his 10,000 hours of mastery faster than most. His knowledge, skills and passion made him a “go-to” person for many businesses. This Outlier’s reputation spread, and more sought his services.
He has a successful, expanding and sustainable business. Chee inspires with motivational talks at orphanages, handicap homes, communities and universities. This ambitious man created LivingInspired Global to motivate people and help them live inspired, not just in Malaysia but globally.
With that, he also started seminars for SME CEOs. Chee invited me to share business success stories, and help SME CEOs understand some of the drivers of success, described in Gladwell’s book, The Tipping Point.
Chee inspires all of us with his Good Job. I am proud to participate in LivingInspired Global Program to reach SME CEOs. Congratulations Chee.
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” Colin Powell
“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.”Pele
“Plans are only good intentions unless they immediately degenerate into hard work.” Peter Drucker
“Talent is cheaper than table salt. What separates the talented individual from the successful one is a lot of hard work.” Stephen King
“Overcoming fear is the first step to success for entrepreneurs. The winners all exemplify that, and the hard work and commitment they have shown underlines what is needed to set up a business.” Richard Branson