We recently had the privilege of interviewing Alicia Khaw, Owner and Chief of Staff at Prominent Group. From gradually extensive experience and knowledge in the corporate secretarial industry, Alicia decided to start her consultancy firm, with a passion for serving value.
By promoting open communication, autonomy, and growth opportunities in her team, Alicia offers a sense of empowerment to her team. In this insightful interview, Alicia shares her career trajectory and visions of growing in this industry.
The Beginning
We were interested to learn how Alicia started her career and built her current position. So, we asked, “Can you walk us through your professional journey and how it led to where you are today?”
Alicia Khaw shared, “My entrepreneurial journey as a professional consultant began with years of dedication to mastering my knowledge in the corporate secretarial industry. I soaked up knowledge and experience working for established firms, building my expertise and network along the way. Eventually, I felt the pull to venture out on my own.
Armed with confidence in my skills and a clear vision, I took the leap of faith and established my consultancy. In the early days, I focused on defining my niche and hustling to build my client base.”
Alicia Khaw added, “As I networked, connected with clients and collaborators, and adapted to industry trends, my business grew. I started to raise my rates, expanded services, hired a team, formed partnerships, and diversified our offerings. Perseverance and delivering value have always guided me on this path. My journey as a professional consultant-turned-entrepreneur has been challenging yet immensely rewarding.”
Overcoming Adversities: An Adaptable And Proactive Approach
Every business has its set of ups and downs. To learn more about the obstacles faced by Alicia in her business and how she overcame them, we asked, “Reflecting on your career, what have been some of the most significant challenges you’ve faced, and how did you overcome them?”
Alicia Khaw replied, “Initially, attracting clients was tough. I overcame this by leveraging my network seeking referrals and showcasing my expertise through speaking engagements. Consistent networking and delivering exceptional results helped me gain trust and referrals over time.
Moreover, staying relevant amidst changing regulatory conditions is another challenging aspect of our industry. I addressed this by investing in continuous learning, attending industry events, and adapting my services to meet emerging client needs. Flexibility and agility were crucial in staying ahead of the curve.”
As an entrepreneur, it’s easy to become consumed by work. However, prioritizing self-care, setting boundaries, and delegating tasks were crucial for me in maintaining a work-life balance. Being adaptable, resilient, and proactive helped me overcome challenges as an entrepreneur and succeed as a business consultant.”
The Perfect Balance Of Goals And Requirements
Eager to learn how Alicia ensures her visions align with the business requirements, we inquired, “How do you balance long-term vision with short-term operational needs?”
Alicia Khaw shared, “I start by defining my long-term vision and objectives for the business. This could include expansion plans, revenue targets, or achieving a specific market position. Having a clear vision provides direction and guides decision-making.
Once I have a long-term vision in place, I break it down into smaller, actionable milestones. These short-term objectives serve as checkpoints to track progress and ensure alignment with the overarching vision.”
“I prioritize tasks based on their alignment with the long-term goals and potential impact on business growth. I regularly review progress to make adjustments and identify areas for improvement. Delegating operational tasks frees up time for me to focus on strategic activities, and empowering employees with clear goals and autonomy promotes innovation and ownership.
By striking a balance between short-term operational needs and long-term vision, I can navigate the dynamic entrepreneurial landscape with clarity and purpose, driving sustainable growth and success for my business.” Alicia added.
Current Offerings at Alicia’s Firm
We were curious to learn more about the offerings at Alicia’s business and if they have any exciting events coming up. So, we asked, “Tell us more about your services and if you are planning to add something new in the future.”
Alicia Khaw said, “We are a leading business consulting firm in Singapore that provides essential insight and advice on corporate governance, regulations, and compliance. Our professional team of consultants offers tailored solutions to help companies manage the intricate process of meeting governing standards and guidelines.
Our core services include C-suite type of support such as Chief of Staff for hire and Financial Review. We also provide legal and compliance support for cryptocurrency and blockchain businesses.”
Staying Updated With Current Trends
We further asked, “What methods do you use to analyze market trends, and how have these influenced your business decisions?”
“My industry is pretty straightforward, I stay up to date with regulatory updates on a macro level and carry out my thought process to determine emerging trends. Attending industry conferences, seminars, and networking events allows me to connect with peers, industry experts, and potential customers. These interactions provide firsthand knowledge of market trends and foster valuable relationships.
Keeping abreast with consumer trends and behavior through networking and coffee chats is also necessary for me to analyze future behaviors thereby influencing our long-term strategic progression. I keep an eye on emerging technologies and innovations in my industry to anticipate market changes, find new opportunities, and stay ahead of competitors. This proactive approach ensures my business thrives in a competitive market.” Alicia Khaw shared.
Impact Of Technology On Reshaping Businesses
With fast-paced digital evolution, every business is undergoing a massive transformation as well. So, we asked, “How has digital transformation affected your business model?”
Alicia Khaw replied, “Because of regulatory restrictions, digitalization has limitations for our industry. So, it makes even the fast-paced digital transformation limited for us.”
Untapped Potential In The Industry
To learn more from the perspective of Alicia on the emerging technology of the market, we asked, “What emerging technologies do you believe will have the most significant impact on your industry in the next five years?”
Alicia Khaw shared, “I believe AI will have a significant impact on our industry in the coming years. AI-powered analytics tools can enhance decision-making processes, provide personalized recommendations to clients, and automate repetitive tasks, allowing consultants to focus on higher-value strategic initiatives.
AR and VR technologies provide immersive experiences that can revolutionize client interactions. RPA technologies automate repetitive and rule-based tasks, freeing up human consultants to focus on value-added activities. Consultants can deploy RPA solutions to streamline business processes, reduce errors, and increase productivity.”
Empowering The Team, we asked Alicia Khaw
Apart from the other factors, focusing on employee satisfaction is a crucial element in a business. We asked, “What strategies do you implement to maintain high levels of employee engagement and satisfaction?”
Alicia Khaw replied, “I ensure open and transparent communication, informing employees about company goals, priorities, and performance. I delegate responsibilities and provide autonomy, promoting employee empowerment. Opportunities for growth, skill development, and new challenges foster a sense of ownership and engagement. I appreciate contributions and achievements through formal and informal recognition programs.
Work-life balance is prioritized with flexible arrangements, remote work options, and generous leave policies. Encouraging disconnection after hours, setting reasonable work expectations, and promoting wellness initiatives enhance overall well-being and satisfaction.”
A Beacon Of Impact And Innovation
We concluded the interview by asking, “How do you want your business to be remembered, and what steps are you taking to secure that legacy?”
Alicia Khaw concluded, “I want my business to be remembered as a beacon of innovation, integrity, and impact in our industry and beyond. To secure that legacy, I am taking several strategic steps:
- Commitment to Excellence: I prioritize delivering exceptional quality in products, services, customer interactions, and internal processes to build trust with clients.
- Focus on Innovation: I promote an innovative culture that encourages creativity, experimentation, and out-of-the-box thinking to anticipate trends and deliver valuable solutions for clients.
- Building Long-Term Relationships: I foster lasting relationships with clients, partners, and stakeholders through respect, trust, and collaboration, creating sustained success and an enduring impact.
- Continuous Learning and Adaptation: I embrace change, stay agile, and adapt to market dynamics and customer needs, ensuring long-term growth and relevance.
Through these strategic efforts, I am laying the groundwork for a legacy that transcends financial success and leaves a lasting imprint on the industry, the community, and the clients we serve.”
Visit their website http://www.prominentgroup.io
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