Yaozhong Bai

Premium

Singapore, Singapore

Yaozhong's Skills
Operations
Business Development
Design
Technical
Finance
Fundraising
Management
Marketing
Product Management
Strategy
User Experience
Sales
Background

Startup Experience

Founded 2+ startups

Age Group

25-35

About Yaozhong

I have 9 years experience in the F&B industry in Singapore. My depth of experience ranges from the strategic to operations, from the big-scale works to the nitty gritty. I am currently looking at expanding my core business via investments, franchising or creating new food concepts.

I believe in being hands-on, dedicating time and commitment to learn the trade in whatever venture I go into, in part to quickly scale the learning curve and also to ensure I do not over-rely on my staff.

I am excited by the impact tech start-ups/companies have made in our lives. I am also keen to take on new challenges, but most importantly, I want to create something really of value to end-users; whether it is something new or something that addresses gaps in the current system / processes.

As my company is considered an SME (small) in Singapore context, I have been managing it on a lean-management approach, being flexible and adapting to the fickleness of consumer tastes as well as controlling costs stringently. I found out that my management model is pretty similar to how start-ups are, and have been, approaching management & strategy - lean.

I believe Singapore's F&B industry is due for a major revamp and re-positioning. Food concierge services are becoming widely accepted and utilized in the B2C context. More can be done in the B2B arena, and that is a segment I am interested to crack.

I was involved in a Fintech as well as an InsureTech startup till ideation stage last year and and is currently cofounder of an F&B Tech startup. I am also building a team to delve into robotics and automation to create new F&B solutions (at MVP stage) that can improve and scale across the entire industry.

"I'm the first one who thought of this idea years ago".

Ideas are dime a dozen. Everyone has that moment of epiphany but those who fail to act upon it, will just have to bear witness to the success of others who persevered and dug deep. It is really the execution and walking the walk that makes the difference. I firmly believe in this.

So please ping me for a meet-up over coffee/beer to share, explore and discuss our ideas. It is always great to meet new people, across and within industries. Who knows when cross-pollination might create the rarest and most beautiful flower!?

Quote

Are you afraid to be the same in your own act and valour, as you are in desire? - Shakespeare

Work Experience

Manager

Ministry of Manpower

April 2007 - November 2009

Business Compliance and Fraud Detection related work

Director

Aroma Foodville Pte Ltd

September 2009 - February 2011

Fully involved in setting-up and operating an air-conditioned Food Court of 4000 sqf from scratch, including: -Full renovations -Design and Layout -Sourcing for and managing food stalls tenants -HR and Hiring of Employees (7 staff) -Finance & Accounts -Legal & Compliance -Operate Drinks & Dessert Stall

Managing Director

Madal Eating House Pte Ltd

March 2011 - August 2016

Managing a portfolio of 5 coffeeshops and industrial canteens.

Director

Can10 Holdings Pte Ltd

January 2017 - January 2018

Currently in a F&B JV (joint-venture) with a strong diversified team (one partner is the CIO of a listed company and another partner is the owner of several cafes). We have set up an industrial canteen in 2017, and is currently setting up a 10,000 sqf foodcourt. Looking to scale up with another 2-3 more F&B establishments in 2018. We are also delving into the vending machine business, logistics business and expanding our presence into Malaysia.

Director

Axury Pte Ltd

February 2017 - September 2017

Started as a mentor to a young chap (early twenties) who contacted me via CoFoundersLab! He wanted to design, create and sell affordable and luxurious-looking watches. Co-invested when he convinced me about his passion and we decided on a low-risk POC strategy via Kickstarter. Didn't hit our target but we worked fast and failed fast as well. Part of the entrepreneurial journey. However, I am a bit disappointed that he didn't persevere to try and pivot / develop a new product or target a different market segment etc.

Director

Whoopa (S) Pte Ltd

March 2017 - January 2018

Started as an advisor to an F&B startup (B2B & B2C); was incorporated into the team as a co-founder subsequently. Main scope is Business Development - working with Industry Partners, various stakeholders, develop second (and third) engines of growth and revenue, spearhead push into secondary and regional markets. We have done an extensive market research, worked with Ernst & Young as our startup consultant, spoken to our startup lawyer, revamp our deck countless times, engaged various stakeholders with varying results, built a MVP/POC, raised angel funding, pivoted a little and is currently looking to raise funding from Angels and VCs.

Education

National University of Singapore

Degree in Political Science

2003 - 2006

Certification

Advanced Professional Management Program

Georgetown University, Washington