2021T2 VirtualTSM/Participant Information/Tan Li Ting

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About Li Ting

Here's me when I visited Nan Luo Gu Xiang (南锣鼓巷) in Beijing, China as part of my Overseas Community Service Project

SMU email: liting.tan.2018@business.smu.edu.sg
Linkedin: LinkedIn
Academic Year: 3
Degree: Bachelor of Business Management
1st Major: Finance Analytics
2nd Major: Marketing Analytics (Am changing my 2nd major to Technology in Business, before the upcoming Term 2 BOSS Bidding Window)

Why Virtual TSM?

• What motivates you to join TSM?

Setting up a start-up is easy, but what makes a start-up successful and keeps it going require a bit of luck and taking the right move. Excited to have a deeper look into the critical points of startup and businesses through this Virtual TSM and hopefully have my own startup.

• Where would you like to visit virtually?

China, but honestly anywhere would be great because it definitely will be an experience that I could not get elsewhere on my own!

Starting a business

• What types of business interest you?

E-Commerce
Being an avid online shopper, I always strive to get the best value for my money spent. Technology is reshaping consumers' behaviour and spending online - evidently in the China market. That is where value is captured, seizing the opportunity. I cannot wait for the day whereby augmented reality would be used more widely, allowing me to effectively try-on and see the fit and style of the clothes on my body in a more realistic manner and find the right sizes. This would mean that I would no longer have to waste money on buying clothes that do not fit.

Operations and Client Solutions in Financial Industry
Coming from a banking and finance background and having gone through internship in a bank, I feel that still many areas of the banking's operations that can be digitalized. Although it may be costly and cumbersome, I do believe that the benefits will outweigh its costs in the long run. Also, would be keen in seeing how technology can improve a customer's experience by making it more seamless - FinTech.

• What plan do you have in starting a business?

Successful macaron baking after 3428342834 attempts over summer break

Baking Supplies Website/Instagram
Always had been interested in baking since I was in secondary school and finally got back to it thanks to the COVID19 pandemic. Cost is a huge factor when it comes to baking so while sourcing for baking necessities, I was thinking of how I could potentially capitalize on it. However, there were so many online bakeries and it would be hard to differentiate from others.

A thought struck me, "Since everyone is baking, what they would need are the baking supplies."

What I am do is to buy items to check for its quality before buying in small bulk to reselling on Carousell to test the market. As it takes a great deal to source for quality products and low price (keeping my items affordable for my customers), I am still in the midst of expanding my product offering. In this day and age, having an online presence with the proper branding is important. Although it may seemed far-fetched at the moment, what I aim to do is to set up a website to sell these necessities as well as to introduce foolproof baking kits for new bakers. It would be a one-stop for all the needs to start baking from scratch.

Inspiration from Cupcake Jemma on YouTube (which I have been following since I secondary school), seeing them through the start of Youtube channel to opening a bakery and now selling of baking kits. Recently found a Singapore-based Instagram account, @bakestarters, which is similar to the concept that I have mentioned.

Past Experiences (optional)

• Accounts Intern at Wuchan Zhongda Utech Sinapore
• Accounts Assistant at YSQ International
• Credit Risk Management Intern at OCBC Bank

What keeps you ticking?

• New, challenging experiences intrigue me and keep me going!