Vijay Eswaran is a Malaysian entrepreneur, philanthropist, and author. He is the founder and Executive Chairman of the QI Group of Companies, a multinational conglomerate headquartered in Hong Kong and Kuala Lumpur with operations in more than 30 countries.
Tell us about your childhood and where you grew up
I come from Malaysia, a beautiful and multicultural country in Southeast Asia known to be a powerhouse financial and business hub in the region, and well known for its beautiful beaches, secluded islands, elevated hill stations, and UNESCO World Heritage Sites. While I was born on the island of Penang, on the northwest coast of Peninsular Malaysia, I grew up all over the country thanks to my father’s job with the government which required us to move a lot. I went to a total of 9 schools before I graduated high school! The constant moving and changing of schools in some ways gave me the training to adapt quickly to change. I realized in later years, that this is a very important quality when one is an entrepreneur. My mother was a teacher who dedicated her life to the students she nurtured, and my late father was a prominent youth leader during his time. He was also a social activist, a deeply spiritual person, and a pillar of his community. My parents played an important role in shaping my belief system, in particular, the importance of ‘service above self, a tenet I choose to live my life by every day.
How did you get started as an entrepreneur?
It was a combination of two major incidents. I had worked in the corporate sector in various parts of the UK and North America for about 13 years before I decided to return to Asia to be closer to family. I was offered a challenging opportunity to turn around an ailing publishing company in Malaysia that was on the brink of bankruptcy. It took me two years of hard work to turn things around. I was sent to the US on a trip to supposedly explore new business opportunities. By the time I returned, I found the company had been sold, catching me completely off guard. The new owners brought in their own management team and just like that, I was out! Once I got over the initial shock, I realized this was the catalyst I needed to take charge of my destiny. I’d always been interested in starting something of my own, but I had no one to guide me or turn to for advice. This incident gave me the impetus to take the leap of faith. I started looking for opportunities to start my own business and serendipitously I discovered a direct selling opportunity that was just beginning to grow in Malaysia. I had dabbled in it part-time as a student in the UK, so the concept was familiar. It turned out I was quite good at it, and soon I had grown a successful direct-sales team that was spread across South East Asia. My team was given a great opportunity by an American direct-selling company looking to expand its business in the Philippines. It was an exciting opportunity, and we were able to grow their business rapidly. However, we soon discovered that the American company was not being honest with us, and soon they were delaying product delivery and holding back commission payments. Meanwhile, we already built a team of about 2,000 people who believed in us as leaders of their team. When the principal company closed the shop and disappeared, we were left holding the pieces. We had a choice between pleading innocence and letting down thousands of people or taking responsibility for a team that placed their trust in us. If we shut down, we could never regain the trust of these people. My partners and I, we had extensive experience in direct selling, but I was the only one with experience in corporate management. As a trained economist, I believe in the power of the direct selling business to help create micro-entrepreneurs and make a major socio-economic impact. I convinced three of the other partners that we could start our own direct-selling company and take back control of the situation. So, armed only with the purpose of helping those who had trusted us, we announced the decision to start our own company. That was the beginning. Since then, we have grown into a conglomerate with diverse business interests that range from a university, a luxury watch brand, hotels and resorts, and a chain of organic retail stores.
What is one business lesson you would tell a startup founder?
Remember the 3As – Adapt. Adjust. Accommodate. If there is one thing this pandemic has taught everyone, change happens quickly and unexpectedly giving you no time to prepare. Business is about flexibility and versatility. Be prepared to throw out your best-laid plans, assess the situation, adapt to the new reality, and make the necessary adjustments to fit into the new world and accommodate changes as they come along. In the words of Bruce Lee – Be like water.
