TURNING adversity into an opportunity presents a formidable challenge for many businesses nowadays.
What’s more, many businesses grappled with unprecedented hardships during the Covid-19 pandemic with some even facing closure.
Yet, amidst this sea of uncertainty, a family-owned dried seafood business in Penang managed to not only weather the storm but also steer its course towards a brighter horizon.
In an interview with Buletin Mutiara via Zoom session recently, Khor Yi Thing related that the family showed resilience and adaptability, revealing how innovation and determination can transform adversity into triumph.
She said their parents had gone through a rough time 26 years ago.
“During the 1997 Asian financial crisis, our parents experienced salary cuts along with shortened working hours. They meticulously recorded every spending and tightened the budget in order to support the family.
“My parents had suffered a lot to support our family, and it was not easy to operate a small business back then. There were times when they struggled to cover the cost and attract customers. However, their grit kept them going,” she said.
Fast forward to 2020, the family encountered another formidable challenge as lockdowns were enforced to combat the Covid-19 pandemic.
“I was 22 and my sister Khor Yi Chen was only an 18-year-old student. One night, my sister and I were discussing ways to sustain our parents’ business. Then, an idea struck us to transform our traditional business into an online business.
“At the time, e-commerce was the only option for many businesses to survive. We understood this was only a temporary measure, but this was the best chance to keep our parents’ business afloat.
“Moreover, it offered us the opportunity to expand nationwide and globally. Any interested customers can find us easily,” she added.
Relating her experience, Yi Thing said it took them a week to set up the online stores.
“We tried out various e-commerce platforms, and it turned out to be a joy. We received our first order that week, and it was an exhilarating start that fuelled our motivation.
“Our family was supportive with my father imparting knowledge about the different types of dried seafood. Our online business went live in June 2021, and we could not have imagined the rapid growth it would experience in just a few months.
“By August 2021, we were overwhelmed with orders. I was still working a full-time job in marketing. My sister and I, along with our mother, would burn the midnight oil to pack orders for delivery to customers all over the country. We also felt exhausted by the pressure to deliver the orders as quickly as possible.
“Our resilience as budding entrepreneurs was tested, as our business saw a 300% growth during a Mega Sale event. Despite having a small team, our determination propelled us to expand our customer base,” she said.
Offering advice to aspiring entrepreneurs, Yi Thing stressed the importance of patience in the world of e-commerce.
“Choosing the right e-commerce platform is crucial as it sets the direction for your business. Identifying and addressing the challenges ahead is equally important,” she added.
Story by Edmund Lee