Anthony Tan, CEO, offers his top advice for aspiring entrepreneurs.

It seems that Anthony Tan has everything on the outside, including a prosperous upbringing and a successful career.

He is the head of one of Southeast Asia's largest tech companies, Grab, but he acknowledges that the journey has not been easy.

He admitted that perhaps it was due to ignorance, and if he had known it would be so difficult, he might not have done it.

"Is it extremely rewarding? While I got the longer end of the stick, many others are not as blessed."

The 42-year-old is the CEO of a U.S.-listed company that offers daily services such as ride-hailing, food and groceries delivery, and financial services. The company has over 35 million users and provides income to over 13 million people as of 2023.

In fiscal year 2023, Grab generated over $2 billion in revenue across eight countries, including Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Thailand, Vietnam, and the Philippines, as reported by CNBC Make It.

Tan's advice for aspiring entrepreneurs

Tan advised budding entrepreneurs that starting a business should be their life calling.

If you're starting again or beginning for the first time, make sure you have a clear calling. It's crucial, as if you don't feel it's from above or whatever you believe in, don't proceed. Many fail, and it's that difficult, he emphasized.

Tan stated that he believes it is God's calling for him to serve, and he is willing to do so even if it means serving on his knees.

Tan also advises those starting out to find a strong support infrastructure.

"My wife Chloe Tong has given up her career to support me in my mission to build Grab," he stated.

He warned that if you're doing it for the money or you don't feel called to it, you'll quickly run out of options.

"Without a strong support system, it's extremely challenging. In my opinion, it's almost impossible to succeed."

Lessons from childhood

At a young age, Tan learned the importance of diligence from his father, who is the president of Tan Chong Motor, a multinational automobile distributor established by Tan's grandfather in the 1950s and now publicly listed in Malaysia.

Tan stated, "In my opinion, it's largely about setting an example through role modeling. I've witnessed my parents' relentless effort and unwavering dedication."

"My father would often tell me, "Remember, your grandfather instilled this in us, and now it's our turn to pass it on to you: you can rest as much as you want when you're no longer alive.""

Tan's parents frequently reminded the children that "more is expected from you if you're given so much," as Tan stated.

"In essence, you should work from the moment you wake up until you go to bed, and strive to reduce the amount of time you spend sleeping. This approach was reminiscent of the old-school, tough love style of training, if you will."

'Journey of suffering'

Tan has consistently put in long hours since founding the company 12 years ago, often working 15 to 20 hours a day and traveling between two to three cities weekly.

"Tan stated that the struggle was challenging on multiple levels, with constant fear of defeat, loss, failure, or disappointment."

In the early days, Tan worked tirelessly, traveling from gas station to gas station to offer free coffee to taxi drivers in an attempt to convince them to join Grab's ride-hailing service.

Tan faced challenges in recruiting operational talent, in addition to struggling with recruiting drivers. He acknowledged that he couldn't compete with the high salaries offered by top tech companies, which made it difficult for him to attract top talent. He wondered why anyone would choose to join him instead of joining these successful companies.

"The company was always traveling to raise funds due to the substantial capital needed."

In the early stages of the business, Tan made financial sacrifices to ensure its survival.

"Some capital partners I'm grateful for had a lot of leverage and told me to take a big beating on my own," he said.

"I had a substantial investment in the company, but I had to reduce it drastically at a huge discount to prevent others from being affected."

He expressed gratitude for those who placed bets with and against him, but acknowledged that the journey was one of suffering.

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