It is widely known that the Covid-19 pandemic has badly hit many business sectors, with some of them are on the verge of closing down due to prolonged losses. However, for Jon Lai, he regards the pandemic year as one of the best he had ever experienced.
Speaking to Entrepreneur Insight, the young entrepreneur said his business managed to record the fastest growth in 2020 and 2021, an achievement that deserves the loudest applause. He has proven his resilience in tough times.
Despite his feat, the founder of several home-grown health and supplements brands namely Nattome, The Perfect Derma and The Perfect Series still feels that he should have done better.
“One of my biggest mistakes is when I was not able to identify the right manufacturer to work with, in the beginning. This has contributed to a snowball effect as we stressed highly the efficacy of our products.
“If I could turn back time, I would opt to have two manufacturers to produce one product so that I can compare the process and subsequently set up a benchmark for the manufacturing of my company’s products.
“Yes, it might cost me more but at least I could deliver the best products to our customers,” he said recently.
Jon Lai is no stranger to the e-commerce and social commerce scene in Malaysia. He was best known for his ability to spot market trends and successfully launch several brands via the online platform. He was first exposed to the industry at the age of 19. His first real big venture started when Jonlivia, a brand he developed focusing on an active lifestyle, managed to lose weight by wearing hotpants instead of consuming detox drinks.
Delving further on his business, Jon Lai said all of the products and brands that have been developed by his company were a solution to the problem that he occasionally faced.
“It has some sort of connection with me, either directly or indirectly. For example, Nattome product has been an effective natural relief for acid reflux which had helped not just the consumers but also myself in dealing with the uneasy feeling,” he said.
When asked about his three years plan, the optimistic entrepreneur said he aims to record some RM100 million revenue per annum, contributed by his wellness and supplements range.
“We have achieved 19.7 million last year and I am pretty confident that we are going to get to where we are heading. This time around, the growth would not be done just via the online market but we also will penetrate the offline distribution model through referral and retail systems.
“On a bigger scale, we are also considering expanding our business beyond this country,” he said.
Jon Lai also shares his piece of advice with fellow entrepreneurs who are still hustling to set their foot in the market. “Being an entrepreneur, we must have a better understanding of the principles in running our businesses. In short, this is where the 20/80 rule applies, where 80% of your results come from doing the right 20% effort. Therefore, it is very crucial to know what is the key action taken to move the needle in your business. Otherwise, you are probably just wasting time doing things that don’t matter,” he concluded.
