Wai Hong Fong talks online success and defying international competition
Wai Hong Fong established OzHut in 2008, growing the eCommerce start-up into a thriving online business that’s expanded to sell products in 12 categories in just three years. Now, this entrepreneur shares his tips for building a successful eCommerce business with Dynamic Business.
Online isn’t going anywhere
Fong also had some words of wisdom for those SMBs that remain unconvinced about the impact of the online space in Australia.
“Online is not just another fad or phase that we’ll go through and get over with. It’s becoming part and parcel of everyday life if not already and will continue to intrude every facet of living. We’re seeing entire generations grow up with so much of their identity built into their Facebook profiles and Twitter handles,” he said.
“Without understanding the unique impact that online has on our businesses, it would be hard to imagine a strong future for them.”
And as for those business owners who don’t feel capable of competing in the online space, Fong said it’s time for a mind shift.
“Businesses are built on the foundations of overcoming challenges, difficult ones included, in a bid to add value to the very customers we serve. Besides, ‘too hard’ shouldn’t belong in the business owner’s vocabulary.”
What’s next?
Fong said he’s feeling very optimistic about the future of his business, and plans to expand into even more product categories in the near future.
“We want to expand into a few different areas which complement our existing range and also give added value to our customers. While the details I can reveal are still scarce, we’re looking into expanding into possibly the fashion and home categories. Think ‘bling,’” he said.