Fireside chat with Joo Kim Tiah, CEO of the Holborn Group
Date: August 17, 2017
Name: Fireside chat with Joo Kim Tiah, CEO of the Holborn Group
Presenter: Joo Kim Tiah
Successful entrepreneurs learn, inspire, and respect other successful entrepreneurs, especially their ambition and desire. The Pacific Club invites Joo Kim Tiah, the CEO of the Holborn Group, to discuss his philosophy of entrepreneurship. In this presentation, he will share his learning form his journey in Vancouver real estate industry. Entrepreneurs will learn his view of success; moreover, Joo Kim Tiah will share how he builds his personal legacy in Vancouver.
Joo Kim Tiah is the CEO of the Holborn Group. He is also the CEO of TA Global Berhad and the President of West Georgia GP Ltd. In 2017, he has successfully completed the development of 360 million Trump Tower in Vancouver and known as the young and powerful tycoon in Vancouver. Many young entrepreneurs inspire his ambition and his leadership style. He comes from a wealthiest family in Malaysia. Moreover, he is the winner of 2009 Prestige Malaysia’s most promising male award.
Fireside chat with Joo Kim Tiah
“When you put your heart into it, you will shock the world”
Tiah was fortunate and blessed to grow up with his successful father. In his young age, he understood the life concept of “the more you do, the more you get back”. He recognizes that people put labels toward the 2nd generation, but that does not hold him back from achieving what he desires. People have the impression of 2nd generation do not work hard as others; however, his father gave him high expectation and Tiah was grateful that his family did not spoiled him when he was young. He developed a strong, dominion and independent style that helped him go through his life adversity.
“If you are soft, you cannot survive in the world”
His father taught Tiah the importance of success in life. Since Tiah was the oldest son in his family, his father expected him to prove to people he was capable. He remembered a valuable learning from his father: “if you are not good, please step aside”. Tiah mentions he felt some resentment. It was tough for him to swallow his father’s teaching, but he figured out his father’s teaching was an important building block for his future success.
Tiah’s father made the decision for TA Global to come to Vancouver. The strategy behind the decision was diversity. To develop relationship with Asia and Canada, Tiah believes it is important to be on the ground, know the culture, and know he has his own people. As a developer, Tiah feels he has the obligation to sell real estate. It is not always about the most expensive project. In fact, Tiah considers land cost to be an important factor, and developers do not like to take all the risks. Supply and demand strategy plays an important role for developers, and this goes the same with government policy and politics.
In 2008, the Trump Tower project got stalled due to depression. It was the year Tiah turned everything around. He had to figure out what was best in the market and understand why others were successful. He applied the right principles and revived the development to become the local champion in Vancouver. There were some backlashes from politics. He was hurt from people who did not understand what he stands for. The important lesson he learned was that in reality, people do not live in dream. Tiah knew who he was. He knew his role was business, he knew his had the responsibility towards his shareholders and employees. He knew he had to make the best decision. Most importantly, he knew there were people who supported him behind the scene, which made him comfortable.
Tiah believes people have different views and people are sensitive to certain things. People label others, but that will not solve anything. Instead, people should try to understand first, and that will help people learn from others to bridge the gap.
When people ask him if he could change anything in the past, he responds that he only lives in the present. Tiah believes there is no point going back in the past. He feels everything is a bless because not everyone has gone through what he has been through. Age is never a factor for him. Tiah wants entrepreneurs to remember that no matter what, do not let people look down on them based on age. Entrepreneurs need to be humble, and people will recognize them. Since entrepreneurs cannot control others, they should focus on what they do the best.
Tiah considers his leadership style as “easy going”. He does not believe micro-manage, but he has high expectation. When it comes to stress, he either prays, workout or plays drums. His business philosophy is that money is not the ideal, passion is. Contribution to society is key and create memory and experience for everyone. He wants to be known as the developer who brings new level.
“If the work is not good, you will hear from me”
“When I make people happy, it drives me satisfaction”
“Every project is art”
When it comes to success, it is his father. Tiah mentions there will be more residential and rental projects in line for the future, especially the “Hudson’s Bay Parking lot project”.
Questions and answers
Tiah does not like any “what if” scenarios because he has enough things to worry about. He looks forward, and not backwards. Being a business man, never say no right away. Entrepreneurs should never make any decision in haste.
He never sees himself as special. Furthermore, he feels he is not doing enough. He emphasizes he does not want to be “old and successful”; instead, he wants to be “young and successful”. He believes he still has a long way to go.
In Tiah’s perspective, hotel industry used to be just products and services. Then it has evolved to include lifestyle and experience. Now, it is about building community. Ultimately, hotel must have a soul, so people will follow. In development, Tiah needs to make sure the work drawing is on track. Every change will cost Tiah a fortune. Time and interest is his enemy, so everything must be clear at day one.
“In business, I listen, I do not follow, but I lead”
Tiah was very rebel at a young age. When he felt empty and lonely, God revealed to him. Afterwards, his life was never the same. He believes everyone has his or her own timing. His job is to love people. Eventually, they will find their God. People need to figure out by themselves because only they know themselves best.
Tiah recommends entrepreneurs to engrave their own principle and do not be someone else.
In business decision making, Tiah will go through a list. The list can be varied, but it must have these 4 important things. First, get the facts straight. Second, pray for peace. Third, does it line up with God. Lastly, get inputs from family members. If family members do not like it, he will drop the business.
To balance patient and hustle, Tiah wants young entrepreneurs to remember that most successful stories they hear do not show how they sacrifice. Most people, not matter how talented, they need to work hard. Young entrepreneurs are easily distracted, so Tiah wants young entrepreneurs to be a master of something. Identify the passion first, then focus on the best thing they can master.
Tiah shares the time he got matured was during his late 20s. He realized how the world really works. The world is a harsh place. People do not care about others unless they are successful. So Tiah wants to be successful. He remembers an important advice from his father:” If you are not successful, your wife will leave you”. Therefore, it is important to become the key of the jungle.
Tiah recommends young entrepreneurs to focus on what they are good at. Execution is the key and always keep up the world’s current events. Young entrepreneurs are in the world of distraction of many great ideas and principles. Instead of applying all, Tiah suggests young entrepreneurs to pick a few and master them fully.
