2021T2 VirtualTSM/Participant Information/Tan Li Ting
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About Li Ting
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)
Here's me when I visited Nan Luo Gu Xiang (南锣鼓巷) in Beijing, China!
Why Virtual TSM?
- What motivates you to join TSM?
This is my 11th run.
- Where would you like to visit virtually?
One
Starting a business
- What types of business interest you? Technology based that will change the way we do things
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 allow 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!
An example of what I mean would be similar to that of GAP's Dressing Room, which allows its customers to view their clothes on a mannequin avatar according to standard UK sizes. I think that this idea can be further expanded on for a more personalized and accurate representation. There are so many opportunities that are untapped industries that can leverage on technology, bringing it online while still having a close-to-in-store experience.
Food and Beverage
While I was doing an internship in the CBD area back in polytechnic, I always face the issue of long queues at the F&B establishments during the morning hours. Often, I ponder if there is anyway that I can get my breakfast even if I do not leave house 10 minutes earlier each day. Up till today, I am curious as to why F&B establishments there do not use pre-ordering and pickup system to handle the morning crowd. I feel that it may help them in capturing many of the customers whom they have lost due to the long queue, i.e. people like me who forgo breakfast for extra sleep time.
- What plan do you have in starting a business? (list existing business)
Baking Supplies Website/Instagram
Always had been interested in baking since I was in secondary school (thanks to Home Economics class) 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 that popped up during this pandemic, 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."
Something that I really enjoyed doing when I was in primary school was to buy and sell furniture in online game to earn game credits. That is what I am doing now - buying 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)
New York City, Hong Kong, Silicon Valley, Seoul
What keeps you ticking?
- Life. We have a short time on this earth. We should live life to the fullest. YOLO
