3 QUESTIONS Every Property Entrepreneur Needs to Ask Themselves

In our second episode with Edwin Lee, he shares the key elements of business that allowed him to succeed.

In our second episode with Edwin Lee, we continue the conversation about his business journey with self-built Bridgeway Fund. He’s built up Hong Kong’s first SFC retailer fund from scratch, and this is the second part of his story.

Throughout any business journey, everyone must be ready to encounter strong competition and criticism. In describing his experience building up a shop fund, Edwin Lee shares his own fair share of struggle, and how he rose above. In order to become the best in his niche and reach nearly 50% market share of turnover rate, he focused on answering three key guiding questions.

-Does the market have demand?

Regardless of how strong a business idea there is, it must be applicable in the local market.

In the case of Edwin Lee, he recognized that small shops were very popular in Hong Kong, and people were interested to become involved in their transactions. Business leaders must consider how the market would react to their solutions, and how potential clients will differ in opinion.

-Who are your competitors and what are their strengths?

Understanding your competition is a crucial element of understanding your own company.

In the case of Bridgeway, Edwin has gone against strong international competition. Famous “Shop Kings” have carved out portions of the Hong Kong market share, yet he still boasts a strong market capitalization. How has he done so? By becoming the best in his niche.

-Do you have what it takes in your niche?

The most adaptable, not the strongest, survive.

Hong Kong is home to strong players, as mentioned above, and Edwin recognized this early. In the first few months, he established what types of retailers and price ranges he would operate in, establishing his territory that he would become the best in. By not focusing on everything at once, he could devote his full attention and make sure he dominated in the niche he created for himself.

With all this said, a successful venture is much more than a clear business plan. Edwin strongly supports the idea that investing in oneself through education truly creates a good leader. Being considerate of alternate options and being well-read has enabled him to prosper in both business and private life. While there is no one-size-fits-all formula for success in the real estate industry, these questions and Edwin’s insights create a necessary foundation.

Watch the above discussion for these useful insights, and stay tuned for our third episode with Edwin Lee. Enjoy!

▶ About the guest:

Edwin is the Founder of Bridgeway Prime Shop Fund Management Ltd, the first SFC (Securities Future Commission) licensed fund management that focuses exclusively on shop properties investment in Hong Kong and major cities worldwide.

Edwin established Bridgeway (Originally HKBI) in 2001 after being an investment banker at Credit Suisse First Boston in New York and Hong Kong. Over the past decade, Bridgeway has grown from a one-man company to become the leading business startup consulting company adopting the Business Build-Operate-Transfer (BOT) model with 300 staff in Hong Kong. As of June 30, 2013, Bridgeway has completed 1,11 business sales transactions and built 78 businesses for entrepreneurs to purchase as ready-made-businesses. Bridegeway now focuses exclusively on property fund management, an SFC regulated type 4 and 9 activities in Hong Kong.

Edwin was the sole awardee of the 2010 Hong Kong Business Awards: Young Entrepreneur Award by DHL/South China Morning Post. He was also named the Innovative Entrepreneur of the Year 2007 by the City Junior Chamber of Hong Kong and Entrepreneur of the Year 2012 by Capital Magazine.

Edwin was the youngest and first non-American Chairman (2009) in the 29-year history of the International Business Brokers Association (IBBA), the world’s largest association for business brokers based in Chicago, USA. Edwin is currently a Board Member of Cyberport Hong Kong. He is a U.S. CPA and a Chartered Financial Analyst (CFA). Edwin received his B.S. Finance and M.S. Accounting from University of Southern California, USA. He has completed his Doctor of Business Administration (DBA) degree at the HK PolyU with a research focus in entrepreneurial motivation and decision making. Edwin has also completed the 3-year Owner President/ Management Program at Harvard Business School.

Edwin is one of the awardees of the 2011 Ten Outstanding Young Persons Selection organized by Junior Chamber International.

▶ Contact Edwin & his team Here:

Website: https://www.bwfund.com/

Facebook: https://www.facebook.com/BridgewayPrimeShopFund                                     

LinkedIn: https://bit.ly/3z7gX1j

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