In our “Me and My Business” column, we explore the inspiring journey of Eugene Lu, the founder of Execierge. Eugene’s innovative approach to Executive Assistant services is setting new standards for SMEs in Singapore and beyond.
Highlights
Redefining Executive Assistance for SMEs
Eugene Lu, a seasoned entrepreneur, has a track record of launching successful businesses from scratch. His latest venture, Execierge, addresses a critical need he identified through his personal experiences: the inefficiency and high costs associated with traditional administrative support.
Execierge offers a unique shared service model for Executive Assistants, providing SMEs with access to experienced corporate secretaries at a fraction of the cost. In this interview, Eugene shares his journey, insights, and the innovative solutions that have made Execierge a game-changer in the SME landscape.
Q&A with Eugene Lu
Q: What inspired you to start your business, and how did you identify the market need?
A: As someone who has run several businesses from scratch, I found that administrative tasks consumed a lot of my productive hours that could be better spent growing my business. While freelancers were an option, they often lacked decision-making capabilities in a corporate environment. Additionally, most Executive Assistants tend to be underutilized, making a full-time headcount unjustifiable. Based on my experiences, I created Execierge, a shared service for Executive Assistants. Our team of experienced secretaries provides comprehensive administrative support at a fractional cost.
Q: Can you describe a typical day in your life as an entrepreneur?
A: I believe in working smart instead of indulging in toxic hustle culture. For me, it’s not about the number of hours worked but the effectiveness of each action taken. My day starts with an update from my Executive Assistant on client issues and important emails. I then check on our sales automation processes, followed by sales calls with prospects. Midday, I hit the gym to avoid the crowd and finish the day by addressing any remaining team needs before enjoying some downtime.
Q: What has been your biggest challenge in running an SME in Singapore, and how did you overcome it?
A: Remote working is more accepted in Western cultures than in Asia. To tackle this, we expanded our services beyond Singapore to Hong Kong and Australia, adjusted our messaging for the Asian market, and increased our outreach efforts.
Q: How has your business adapted to your country or region’s unique cultural and economic landscape?
A: Understanding the costs of hiring full-time employees in different countries helps us price our services competitively, making them attractive to clients in various regions.
Q: What’s your most important lesson about managing a team in the Singapore business context?
A: With a mostly remote, overseas team, trust and respect are paramount, along with providing proper guidance when needed.
Q: How do you balance traditional business practices with innovation in your industry?
A: We focus on quality and excel in a niche, unlike many outsourcing companies that spread themselves thin across multiple services. Our team consists of experienced secretaries who bring corporate experience and essential language skills.
Q: What role has technology played in your business growth, and how do you see it shaping your future?
A: Technology has been crucial in scaling our sales and marketing efforts without boundaries. Tools like ChatGPT help craft professional messages and save time on administrative tasks.
Q: Can you share a pivotal moment that changed the trajectory of your business?
A: Initially, we tested several pricing models but found them too complicated. Switching to a flat fee for access to a PA five days a week during business hours was a big hit with clients.
Q: How do you approach networking and building business relationships in your local market?
A: I don’t subscribe to traditional networking but engage with clients sincerely through simple gestures like interacting with their LinkedIn posts or sharing opportunities.
Q: What advice would you give aspiring entrepreneurs looking to start an SME in Singapore?
A: Shut out the noise and focus on making revenue. In today’s hyperconnected world, endless emails, social media notifications, and industry trends easily distract us. However, as business owners, we must remember that our primary goal is to generate income. Don’t get caught up in activities that don’t contribute to your bottom line. Instead, prioritize tasks that directly impact sales and profitability. This means focusing on product development, customer service, or refining your sales funnel. Be ruthlessly selective with your time and energy, always asking, “Will this lead to increased revenue?” Not all busy work is productive. Stay focused on what truly matters—growing your business and increasing profits. The rest is just noise.
Learning from Eugene Lu’s Execierge Journey
Eugene Lu’s journey with Execierge highlights the importance of addressing real business needs with innovative solutions. His approach to smart working, adapting to cultural nuances, and leveraging technology offers valuable insights for aspiring entrepreneurs. Eugene’s emphasis on trust, respect, and sincerity in business relationships also underscores the foundational principles that contribute to SME success in today’s dynamic market.
