Success In Business

[boris]

<{POST_SNAPBACK}>

i can mention a lot but not for obviuos reasons, but these two i can

both have public companies!!

bob kervorkian - construction(k-tech) - god bless you wherever you are

simon bonningtan - volvo(swedish motors) and property development

<{POST_SNAPBACK}>

Good observation.To be honest I had overlooked Bob (RIP) and Simon B.I think the latter is mainly involved in leasing business now.

[mbkudu]

I have met a very successful Black / Red Tilapia farmer from the UK who has been here for years and has PR. He operates 2 farms in Prachinburi and has over 50 ponds and all he does is spawns and sells Tilapia fry. He has thousands of customers within Thailand and they even air freight fry to international markets

Interesting but scary also.

There have been a few stories of successful fish-farmers before, who have been murdered, just because they were successful ......

Staying very, very low-profile is important I would think.

LaoPo

Fish farming, talapia, catfish, pla nin and guarami is my business in Thailand. I am the investor, the wife is the one who runs the day to day business. We don't make a lot of money, but enough to keep it a profitable business and maybe buy a bit more land every other year. I am about as low profile as can be; in other words I keep my nose completely out of it.

[Soi Mongrel]

Is this the Thai star M. Benedetti?  Not foreigner...she's Thai.

J

<{POST_SNAPBACK}>

Myria "Nat" Benedetti is a Thai national look-kreung, yes, but her father is Italian. It is his family I was talking about -- the Benedettis. Goes back away, but Otello Benedetti settled in Thailand in the 1950's with a Thai wife. They started out importing household appliances, garments, and silverware from Italy.

In the late '70s, they formed a joint venture to bring Electrolux into the Thai market. They also control the local Gucci outlets.

They are very, very wealthy.

Edited June 13, 2005 by Soi Mongrel

[chownah]

I think the only thing that has been shown is that a long time ago if you were a rich foreigner (or from a rich family) you could come to Thailand and easily get connected with the local Thai ruling faction and you could start a business and get richER. No one has named a single person who did NOT come from a rich family and who did make multi-millions with their own ideas and initiative....not within the last 10 years!!!!

So, if you are rich then it is true in Thailand too....the rich get richer....but for all the rest of us if you want to get rich then its better to try somewhere else.....really it is....don't take my word for it...just read some of the posts above which explain why Thailand is such a poor candidate for the entrepeneur. Even the people who made their money in the past agree....better to go to China, Vietnam, Indonesia.....and definitely not in the north....people in the north are really tight with their money...if you want to get rich in Thailand then go south...definitely....

[sadman]

It seems to me that there are so many incongruities in the question of farangs making a fortune in LOS that it will always be difficult to resolve. First and foremost, it may well be that doing business in LOS is significantly different to doing business in other countries.

The next thing to consider is that, by and large (and unless the product is area-specific), someone will stand a far better chance of success in their home country than in a new location, for many obvious reasons. If someone has failed in business in their own country, their prospects of success elsewhere are limited.

It also needs to be remembered that, at least in the UK, the vast majority of businesses go under in the first 18 months, generally because the 'businessmen' don't have a clue, but woke up one morning and thought "I'm fed up with working for someone else, I'll work for myself instead". There's more to it than that, guys!

For me, I'd like to run a business in LOS but have no expectations of vast riches. If I can turn an honest shilling and stay out of the bar, income from UK investments should augment my earnings so I have a reasonable standard of living. I hope.

[Heng]

Fortunately, it's not just the ruling faction who can become wealthy here. The basic shopfront merchant (you'll find them all over Bobay, Pratunam, MBK, Chatuchak, etc.) can amass great fortune within a lifetime. Not all of course and many are scraping by. But you'll find more than one might expect.

An important step for foreigners would be to choose a spouse who is a better saver than spender. Foreigners actually can partake in nearly any line or work or business they wish to here... they just have to have their spouses to legally run it.

[chownah]

Fortunately, it's not just the ruling faction who can become wealthy here.  The basic shopfront merchant (you'll find them all over Bobay, Pratunam, MBK, Chatuchak, etc.) can amass great fortune within a lifetime.  Not all of course and many are scraping by.  But you'll find more than one might expect.

An important step for foreigners would be to choose a spouse who is a better saver than spender.    Foreigners actually can partake in nearly any line or work or business they wish to here... they just have to have their spouses to legally run it.

<{POST_SNAPBACK}>

Yeah, I agree completely. If you want to become a multi-millionaire a good bet is to mary a frugal Thai woman and open a shop in Bobay, Pratunam, MBK, Chatuchak, etc. hahahahahhahaa

[Heng]

[mbkudu]

An important step for foreigners would be to choose a spouse who is a better saver than spender.    Foreigners actually can partake in nearly any line or work or business they wish to here... they just have to have their spouses to legally run it.

One of the keys to stable bussiness success in Thailand for the foreinger.

Choose wisely and live happily.

[Vit42]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen

Don Kogen is a perfect example of how far a little “chutzpah” can get you. This high school drop out, armed with little more than his own determination, turned 5 stones sold on eBay back in 1997 into an Online and Offline Jewellery Empire.

It all started when he showed up in Chantaburi, some 330 km from Bangkok, as a backpacker in 1989 after having read an article about Chathaburi’s lucrative trade in gem stones. He volunteered to cut stones for a local dealer and slowly he found himself getting more and more intrigued with the business.

Only a few years later he had his own collection of stones to sell. He set up a fax machine to accept and confirm orders; Xeroxed a single page flyer touting his gems and his business was born. Smaller orders were shipped out to customers via regular mail and large orders came special delivery with Don Kogen making the trip himself to cities all across America. Thus, he stealthily made a place for himself amongst the big boys of the Chathaburi Gem Trade much to their surprise and chagrin.

His success with mail order gave Don the courage to try his luck online and he posted his first five stones on eBay… Six months later he was selling more than 2,000 gems a day on the World Wide Web. His next step was to find a computer programmer to help him to set up his website www.ThaiGem.com.

Thaigem.com has certainly come a long way in a relatively short time. Today Don has over 700 employees, including his own staff of web designers, operates a massive offline Gem Superstore in the heart of Bangkok’s gem district and has recently opened a new state-of-the-art jewellery factory in Chanthaburi.

And lest you think that this native Texan is exploiting his local community you should know that he believes strongly in fostering responsible corporate citizenship, with Thaigem.com regularly making donations to local schools, emergency services and domestic & international charities. As Don says, “I have received immeasurable help from this community when I needed it most. Now I want to pay people back.” However, his charitable activities are not the only help he gives to his community. Thaigem.com is the largest private sector employer to the region. Appropriately, Kogen, who speaks fluent Thai, is affectionately known among the people of Chanthaburi as “Godfather Don”.

Thaigem.com’s success is due in no small part to their skill at cutting stones but also in cutting out the middle man… All seven of them! According to Kogen the average gem stone changes hands seven times as it passes from mine to customer. Because of this, price hikes of up to 1,000% are quite the norm. Thaigem.com has direct access to their stone’s sources which is how they are able to offer superb gems at unbeatable prices. In fact, this has played an enormous part in Thaigem.com’s skyrocket to success as they are now the undisputed leader in online Gem sales making Don Kogen an expatriate entrepreneur extraordinaire!

Anne: You are currently based in Thailand. How long have you been there and what were some of the factors that influenced your decision to make the move?

Don: I have lived in Thailand for 13 years, arriving here while backpacking. Liking the country and wanting to stay, I started looking for something to do in Thailand. While reading a book in the library at Chiang Mai University I became interested in gemstones and learned about the importance of Chanthaburi to the international gemstone industry. Deciding that Chanthaburi would be a good place to learn more about gems (in case you’re unaware, Chanthaburi is one of world’s leading centers for processing gemstones with about 80% of the world’s rubies and sapphires passing through Chanthaburi; as local mines dried up, Chanthaburi gem dealers developed overseas supply networks for rough gems) and made the move to the city. Chanthaburi is located in rural Thailand about 2.5 hours South East of Bangkok near the Thai boarder with Cambodia.

Anne: What do you feel was your biggest obstacle to overcome when you moved to Thailand and how did you do it?

Don: Apart from the language, the cultural differences between Thai’s and Westerners were probably the biggest obstacle. I overcame this through immersing myself in Thai culture, which was also a necessity considering that there were virtually no foreigners living in Chanthaburi when I first moved there.

Anne: How would you compare the standard of living to the U.S.?

Don: As I haven’t lived in the U.S. since I was 9 years old (apart from Thailand I have also lived in Israel, Belgium and India), I’d have to answer based on my business trips but yes, I’d say the standard of living in Thailand is better; dollar for dollar it simply goes further in Thailand.

Anne: How would you describe your lifestyle?

Don: Hectic but fun; work tends to dominate my life but as I am only 27 years old I also like to have fun.

Anne: What is your favorite thing about your adopted homeland?

Don: My favorite things about Thailand are the food, climate and the friendly personality of the Thai people.

Anne: How would you describe yourself?

Don: I have a very positive outlook on life and see myself as ambitious and very hard working. I have a good sense of humor and I like to bring success to others and myself, all the while trying to have fun doing what I do.

Anne: What did you originally want to do with your life?

Don: Actually, I wanted to be a DJ.

Anne: What is your highest level of education? Do you feel your education helped you in developing Thaigem.com?

Don: I dropped out of high school at the age of 15 and to be honest while many would see this as a disadvantage I think it has served me well as most of my knowledge has come from talking to people; without having any entrenched ideas I’ve always kept a very open mind making it easier to talk and learn from others.

Anne: Which came first… the initial stages of development or finding investors to back the project? Had you had any previous connection to your backers?

Don: When the investors came on board we were already a profitable company with a developed brand and customer base, generating annual revenues of US$4.8 Million (in the year since the investors came on board our annual revenues increased to US$10.3 Million). I had no previous connection with our investors and was introduced to them through a financial advisory group.

Anne: What does a typical day look like for you?

Don: It typically involves the continuous development and review of both new and existing models with my management team to increase both the top and bottom line, finishing the day with a hard earned cold beer with a few friends from the office.

Anne: How has that changed since the start-up?

Don: My focus has moved from being “hands on” in a gem business to being completely focused on the strategic management of executives.

Anne: How many employees do you have?

Don: We have just over 600 employees located at our head office and jewelry factory in Chanthaburi and in our Gem Superstore in Bangkok.

Anne: What is your target market group? Any plans for expansion?

Don: With a massive inventory covering gemstones, jewelry, beads, healing crystals, fossils and many other related products, Thaigem.com targets a very broad spectrum of consumers from trade professionals to dedicated enthusiasts to general consumers, altering our marketing communications to suit each market segment. For example, our mass-market jewelry is designed to offer “affordable elegance”, attracting consumers who crave fashion colored gemstone jewelry of outstanding quality at affordable prices and our jewelry web pages and supporting E-zines communicate this orientation.

Thaigem.com is always expanding and looking for new opportunities to increase both the top and bottom line. For example, we recently opened a new state-of-the-art jewelry factory at our headquarters in Chanthaburi. Currently employing 220 people with a production capacity of 15,000 units per month, this will be expanded to 400 employees by year-end doubling our monthly production capacity to 30,000 units.

Anne: Who is the person or persons that most influenced your life? How?

Don: Our Managing Director and a very good friend for many years Ms. Nuntiya Sukumpeeranont taught me how to save and manage money so I could take advantage of opportunities. Gavin Linsell, our Chief Marketing Officer taught me the importance of brand building and the benefits marketing contributes to sales in the long term, allowing us to achieve a brand impact that is a rarity in the international gemstone industry.

Anne: Who do you most admire and why?

Don: This would have to be Jack Welch CEO of GE because of his ability to quickly move through the ranks, his ability to expand business models and his ability to stay focused on growth not personal interests.

Anne: What words of advice/encouragement can you give our readers?

Don: In my experience it doesn’t matter what your background is or where you come from as long as you understand your own strengths and weaknesses, possess an ability to adapt and most importantly, remember that success is dependant on lots of hard work. As for advice for future online (or offline) entrepreneurs, I’d offer the following:

• Let your profits guide your growth.

• The Internet is only a distribution channel that lets you access a global customer base.

• E-commerce is not a business; it’s a business tool.

• In E-commerce a good business plan is far more important than large startup capital.

• Profitability is the final measuring stick for any commercial enterprise.

Anne: Thank you, Don!

[boris]

I can endorse all the comments on Don Kogen.In fact on reflection he is up there with Bill Heinecke as one of the very few geniunely successful farang entrepreneurs.What is more unlike Bill H, Don's success is recent.

I suppose one should also mention the stockbrokers who made a few million £££ in the days when the Thai market was unregulated.There are several still around but not really genuine entrepreneurs, except perhaps the infamous Indonesian jailbird Mark Greenwood (actually a great guy).

[Dragonman]

<{POST_SNAPBACK}>

i can mention a lot but not for obviuos reasons, but these two i can

both have public companies!!

bob kervorkian - construction(k-tech) - god bless you wherever you are

simon bonningtan - volvo(swedish motors) and property development

<{POST_SNAPBACK}>

Good observation.To be honest I had overlooked Bob (RIP) and Simon B.I think the latter is mainly involved in leasing business now.

<{POST_SNAPBACK}>

Bob was as large as life in Pattaya mail a couple of months back, involved in some major construction project here.

[Soi Mongrel]

Yeah, but he's now dead as a doornail.

[chownah]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen ...................

<{POST_SNAPBACK}>

Finally someone came up with a REAL example of someone making multi-millions in Thailand in the recent business climate....even though virtually all of the sales occur outside Thailand. Thank you very much for posting this. As I said before...it is not impossible...just more difficult here than elsewhere.

Also, what do you mean by "shut up or put up." It seems a bit rude (where I come from telling someone to "shut up" is considered rude) but I'm not sure since I don't know what you mean by it.

[~G~]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen ...................

<{POST_SNAPBACK}>

Also, what do you mean by "shut up or put up." It seems a bit rude (where I come from telling someone to "shut up" is considered rude) but I'm not sure since I don't know what you mean by it.

<{POST_SNAPBACK}>

Chownah, compared to some other posts we see here every day - "shut up" is relatively polite.

[chownah]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen ...................

<{POST_SNAPBACK}>

Also, what do you mean by "shut up or put up." It seems a bit rude (where I come from telling someone to "shut up" is considered rude) but I'm not sure since I don't know what you mean by it.

<{POST_SNAPBACK}>

Chownah, compared to some other posts we see here every day - "shut up" is relatively polite.

<{POST_SNAPBACK}>

I'm not complaining about his choice of phrase....frankly I don't care if posts are rude to me or not. I'm just wondering why he wrote, "shut up or put up" to me. Is he angry with me? Does he think we are having a fight? It doesn't make any sense that he would say "shut up or put up" to me in this context.....'put up' what?...'put up' my fists?....'put up' my bet? What the heck is he trying to say to me?

[OldAsiaHand]

I don't suppose anyone on TV has run into Bill have they?

<{POST_SNAPBACK}>

I know Bill quite well. What is it you want to know?

<{POST_SNAPBACK}>

Don't want to pre-empt Asia Old Hand's reply and I will be interested to see it.Bill Heinecke, whom I also know though not that well, isn't really a farang at all other than in the strict ethnic sense.He's essentially a Sino-Thai Bangkok tycoon with all the tricks of the Thailand corporate trade (and these are legion).He is certainly a talented businessman though a very prominent Thai investment banker once commented to me it was a puzzle why Bill wasn't a lot more substantial.Bill nearly went under in the economic crisis but is now doing very well.He has a streak of ruthlessness and piles of genine charm.Weakness is his tendency to micromanage.I like him a lot but he is a world to himself and no real example for budding foreign entrepreneurs.Funny thing is his grasp of the Thai language is rather poor!

<{POST_SNAPBACK}>

Yeah, I'd pretty much endorse all that, although on the whole I'd guess you're being a little diplomatic. Bill is, to put it plainly, a pretty average guy who, living in a land of midgets, has developed the mistaken impression that he must be a giant. Without his family connections to the (insert here a common word for a place where royalty resides), it's hard to imagine how he would have ended up.

And as for Simon Bonython who was mentioned in a couple of other posts, it's Simon's (Thai and well connected) wife who has (and makes) all the money. Simon's only role in the family is to squander a bit of the take every now and then with bad investments and occasionally to fill board seats that no one else in the family wants.

Edited June 14, 2005 by OldAsiaHand

[Vit42]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen ...................

<{POST_SNAPBACK}>

Also, what do you mean by "shut up or put up." It seems a bit rude (where I come from telling someone to "shut up" is considered rude) but I'm not sure since I don't know what you mean by it.

<{POST_SNAPBACK}>

Chownah, compared to some other posts we see here every day - "shut up" is relatively polite.

<{POST_SNAPBACK}>

I'm not complaining about his choice of phrase....frankly I don't care if posts are rude to me or not. I'm just wondering why he wrote, "shut up or put up" to me. Is he angry with me? Does he think we are having a fight? It doesn't make any sense that he would say "shut up or put up" to me in this context.....'put up' what?...'put up' my fists?....'put up' my bet? What the heck is he trying to say to me?

<{POST_SNAPBACK}>

Look at the threads of this post where you've consistantly put down anyone's suggestions and asked for "just one" example as if w/o this proof, your theory on making millions in thailand is impossible. As with any theory, it's back to the drawing board if there's one exception.

I stand by my first post in this thread that stated that your question was irrelevant based upon socio-economic disparaties. I apologize if i was rude in my last remark but i was just sick of you're constant dogging of other people's posts (not just in this thread)! You ain't the smartest, i ain't the smartest, so respect all.

[chownah]

Naming just one...shut up or put up!

http://www.jetsetliving.com/article/Don_Kogen.html

Expat Entrepreneur Extraordinaire: Don Kogen ...................

<{POST_SNAPBACK}>

Also, what do you mean by "shut up or put up." It seems a bit rude (where I come from telling someone to "shut up" is considered rude) but I'm not sure since I don't know what you mean by it.

<{POST_SNAPBACK}>

Chownah, compared to some other posts we see here every day - "shut up" is relatively polite.

<{POST_SNAPBACK}>

I'm not complaining about his choice of phrase....frankly I don't care if posts are rude to me or not. I'm just wondering why he wrote, "shut up or put up" to me. Is he angry with me? Does he think we are having a fight? It doesn't make any sense that he would say "shut up or put up" to me in this context.....'put up' what?...'put up' my fists?....'put up' my bet? What the heck is he trying to say to me?

<{POST_SNAPBACK}>

Look at the threads of this post where you've consistantly put down anyone's suggestions and asked for "just one" example as if w/o this proof, your theory on making millions in thailand is impossible. As with any theory, it's back to the drawing board if there's one exception.

I stand by my first post in this thread that stated that your question was irrelevant based upon socio-economic disparaties. I apologize if i was rude in my last remark but i was just sick of you're constant dogging of other people's posts (not just in this thread)! You ain't the smartest, i ain't the smartest, so respect all.

<{POST_SNAPBACK}>

Thank you.

[johnleepbs]

Or..possibly.....make money from photography....if you have a digital camera...some small talent (and mine is very small) it seems possible to make a small but steady income.

I have a blog running here with my efforts http://photomoney.blogspot.com/

Only peanuts so far....but it only involves a small amount of effort....

[bakachan]

The question, is can an individual farang really be successful and make a lot of money in business here in Thailand? Naturally one hears of so and so opening a bar or running a computer repair service.  I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so? Ideas and comments please (Please let's exclude those in the entertaiment field)

<{POST_SNAPBACK}>

From an online newspaper in asia:

Ten leading families with close ties to the government altogether controlled over 40 percent of the market capitalization of the Stock Exchange of Thailand, with over 10 percent held by the prime minister's family alone, he was quoted by the Bangkok Post as saying.

end newspaper quote -----------------------------------------------------------------------

I would think anyone that cut in on the action of these 10 families would pay dearly

for their success. Question is, what cookie jar DON'T they have their hand in...

On a much smaller scale would be trading stocks, bonds online. Or... doing the ebay thing. Now living in thailand doesn't limit you in who you sell to. All you have to

do is know your products well. Know what the current market prices are for those

items and if you see a bargain buy it. Also set up automated searches to notify you

when new items your interested in are listed.

Now here is the tricky part.. since your in thailand you dont want it sent to you because your reselling it to others in the usa or europe. So as soon as the auction ends or simultaneously you list the item with Your BETTER description of the item and all its possible uses at a higher price. When your auction ends and you have a buyer, hopefully, you have them send the item to your buyer and you pocket the

difference.

you should first check with the seller to see if he would have a problem billing address and shipping addresses being different. If your feedback is good most

agree.

Edited July 11, 2005 by bakachan

[Braccobaldo]

can a farang make money in Los???..

...Los is better for to squander than other...