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Financial Independence Through an Entrepreneurial Journey

Financial Independence Through an Entrepreneurial Journey. by Roger King, PhD HKUST. Financial Independence Through an Entrepreneurial Journey. Definition of Financial Independence and why it is important? (Personal definition) It set one’s life goal. Key Sources of “Legal” Wealth.

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Financial Independence Through an Entrepreneurial Journey

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  1. Financial Independence Through an Entrepreneurial Journey byRoger King, PhDHKUST

  2. Financial Independence Through an Entrepreneurial Journey • Definition of Financial Independence and why it is important? (Personal definition) • It set one’s life goal

  3. Key Sources of “Legal” Wealth • Inheritance, earnings from climbing the corporate ladder or create your own wealth • Other than inheritance, there are no shortcuts to wealth or as often said, “there are no free lunches” – will illustrate with specific examples

  4. A Personal Journey • One of the first entrepreneurial ventures, the selling of firecrackers in NY – financially and opportunity driven • Notion of serial entrepreneur and exit strategy

  5. Connection and Opportunity Driven • Bell Labs and Univac – a pioneer in computers and a first customer • The EuroAsia Shipyard story – first and only builder of offshore oil rigs in HK • First offshore contract driller JV with CNOOC • Property investments in America and other places • The restructuring of the Tung group of companies in the mid-1980s – great learning experience in problem and solution identification but painful experience, not recommended

  6. Connection and Opportunity Driven - cont • Acquisition and consolidation of an industry – the SystemPro story (growth for value and ultimate monetizing the business) • The Sa Sa experience and some key takeaways • Angel investor to Pacific Coffee – opportunity and ability to influence outcome • Key sources of funding – the notion of 3 Fs • Can entrepreneurship be taught? - Notion of DNA

  7. Key Advice and Recommendations • Engineering and military training or equivalent – develops the analytical, inquisitive and discipline skills which I believe are essential • Need to develop a keen sense of opportunity recognition • Treat all fairly – employees, partners and acquirers of your businesses – improves reputation and deal flow (the KS Li example) • Be satisfied with past deals and look for the next opportunity with no regrets

  8. Key Advice and Recommendations - cont • Funding should never be an issue for well conceived plans • One must be driven beyond pure financial grains • No shortcuts to financial success – work hard and focus with clear vision • Role model, Key influencers and contributors to my ventures – father-in-law (non-financial, value system and connections) and VCs (more than money – knowledge, deal flows and connections) • Finally don’t procrastinate (notion of NATO) – JUST DO IT

  9. Thank you

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